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$ 799,000
Est. payment | /mo
4 Beds
5 Baths
3,242 Sqft Lot
$ 799,000
Est. payment | /mo
4 Beds
5 Baths
3,242 Sqft Lot
Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID OC26095441
Bedrooms 4
Lot Size 3,242 Sqft
Property Sub-Type Res Income 2-4 Units
Property Description
Excellent opportunity to acquire a value-add four-unit investment property in the highly desirable Downtown Long Beach submarket. This multi-unit asset offers strong in-place income with significant upside potential through renovation and rental repositioning. The property is currently generating approximately $58,500 in annual gross income, reflecting a current Gross Rent Multiplier (GRM) of 13.68 at the current list price and a cap rate of approximately 6.24%. These metrics position the asset as an attractive opportunity for investors seeking both immediate cash flow and long-term appreciation. With strategic improvements, investors have the ability to reposition the asset, increase rents toward market levels, and further enhance overall returns. The property is ideal for investors pursuing a value-add strategy, long-term hold, or future refinance scenario. Located in the heart of Downtown Long Beach, the property benefits from strong tenant demand driven by proximity to major employment centers, coastal amenities, and a vibrant urban lifestyle. The area is known for its waterfront access, marina, Shoreline Village, The Pike Outlets, and a thriving dining and arts scene, making it a highly desirable location for renters. The property is also well-positioned for public transportation access, with the Metro A Line providing direct connectivity from Downtown Long Beach to Downtown Los Angeles and surrounding areas. Nearby transit hubs and multiple Long Beach Transit bus routes offer convenient local and regional access, enhancing tenant appeal and long-term rental demand. Th
Location
State CA
County Los Angeles
Zoning Assessor
Direction N. of St. Mary's Hospital on N. Saint Mary's Ct.
Interior
Fireplace No
Exterior
View Y/N No
Building
Story 2
Level or Stories 2
Others
Senior Community No
Tax ID 7274001033
Acceptable Financing Cash
Listing Terms Cash
Special Listing Condition Probate Sbjct to Overbid
Listed by Erik Kaiser, DRE#01111620 RE/MAX TerraSol
Nearby Locations
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Keegan Wetzel
Founder | Naval Academy | OIF Veteran | License ID: 02153342