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High income totally updated 4 unit property in Downtown Long Beach with a 4 bed, 2.5 bath front house full of character plus three 1 bed, 1 bath units in the rear. All units recently updated, newer roof, replaced stairs, landscaping and exterior refresh completed. Very well priced on income at 11.3X GRM on actuals and a 5.7% cap rate with upside to 10.7X GRM and a 6.1% cap rate on market rents. 2 garages in rear structure plus driveway parking for 3 cars by the front house. Potential for ADU conversion in rear garages. Separately metered for gas and electric, allowing a low expense building. Great location right in Downtown Long Beach just North of the East Village Arts District. Blocks away from St. Mary's hospital, Museum of Latin American Art, rail lines, and $8 billion of new development. Only 8 blocks to the beach.
Property Type(s):
Residential Income
| Last Updated | 10/3/2025 | Tract | Downtown (DT) |
|---|---|---|---|
| Year Built | 1910 | Community | 4 - Downtown Area, Alamitos Beach |
| Garage Spaces | 2.0 | County | Los Angeles |
Additional Details
| AREA | 4 - Downtown Area, Alamitos Beach |
|---|---|
| GARAGE | Yes |
| LOT | 5001 sq ft |
| LOT DESCRIPTION | Rectangular Lot |
| PARKING | Garage Faces Rear |
| POOL DESCRIPTION | None |
| SEWER | Public Sewer |
| STORIES | 2 |
| SUBDIVISION | Downtown (DT) |
| UTILITIES | Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected |
| WATER | Public |
Location
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Listed with Buckingham Investments, Inc
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