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Huge 1960's construction 4 unit in 5 blocks to the beach with all townhome style units. Extra large owner's unit currently configured as 2 beds and 2 baths, but originally 3 beds with primary suites. Three other large two story 2 bedroom units, one with 1 bath, and two with 2 baths. 2 out of 4 units recently remodeled with vinyl floors, new kitchens, and bathrooms. Large lot with 5 garages spaces plus extra square footage in the rear. Very attractive metrics at $291/square foot, 12.3X GRM on actuals with a significant 16% upside to 10.5X GRM and a market cap rate of 5.8%. Ideal location in the heart of Alamitos Beach only 5 blocks to the sand. 3 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 household income of $98,000+ (per CoStar research).
Property Type(s):
Residential Income
| Last Updated | 10/4/2025 | Tract | Downtown (DT) |
|---|---|---|---|
| Year Built | 1967 | Community | 4 - Downtown Area, Alamitos Beach |
| Garage Spaces | 5.0 | County | Los Angeles |
Additional Details
| AREA | 4 - Downtown Area, Alamitos Beach |
|---|---|
| GARAGE | Yes |
| LOT | 7388 sq ft |
| LOT DESCRIPTION | Rectangular Lot |
| PARKING | Garage Faces Front |
| POOL DESCRIPTION | None |
| SEWER | Public Sewer |
| STORIES | 2 |
| SUBDIVISION | Downtown (DT) |
| UTILITIES | Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected |
| VIEW DESCRIPTION | None |
| WATER | Public |
Location
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Listed with Buckingham Investments, Inc
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