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6.2% cap rate on actuals only 3 blocks to the beach! 10.6X GRM on actuals with a 9% upside to 9.7X GRM on market rents and 6.9% market cap rate. Totally remodeled 8 unit (7+1 ADU) property consisting of two buildings with 4 units each and parking for 5 cars. Corner building consists of four large 900 square foot units with 2 bedroom floor plans upstairs and large 1 bedroom floor plans on ground level. Second building has a brand new 2025 construction 2 bed/1 bath ADU, two studios, and a large 1 bed/1 bath unit. All unit interiors remodeled since 2022, new electrical in 285 building, full paint and exterior refresh just completed. Great curb appeal on a large 8,546 square foot corner lot.Ideal location in the heart of Alamitos Beach only 3 blocks to the sand. 2 blocks from Downtown Long Beach’s East Village Arts District with numerous restaurants, retail, and entertainment options. Over $8 Billion in new development in the immediate vicinity. 63% of households within 5 miles are renters with an average households income of $98,000+ (per CoStar research). Directly across the street from the Historic Ebell Club of Long Beach.
Property Type(s):
Residential Income
| Last Updated | 5/1/2025 | Tract | Alamitos Beach (AB) |
|---|---|---|---|
| Year Built | 1921 | Community | Downtown Area, Alamitos Beach |
| County | Los Angeles |
Additional Details
| AIR | Heat Pump |
|---|---|
| AIR CONDITIONING | Yes |
| APPLIANCES | Gas Oven, Gas Range |
| AREA | Downtown Area, Alamitos Beach |
| GARAGE | Driveway Level |
| HEAT | Wall Furnace |
| HOA DUES | 0 |
| LOT | 8546 sq ft |
| LOT DESCRIPTION | Rectangular Lot |
| PARKING | Driveway Level |
| POOL DESCRIPTION | None |
| SEWER | Public Sewer |
| STORIES | 2 |
| SUBDIVISION | Alamitos Beach (AB) |
| UTILITIES | Electricity Connected,Natural Gas Connected,Sewer Connected,Water Connected, Electric: Standard,220 Volts |
| WATER | Public |
| ZONING | LBR3S |
Location
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Listed with Buckingham Investments, Inc
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