Long Beach, CA 90802
UPDATED:
Key Details
Property Type Commercial
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
MLS Listing ID IG-25133090
Year Built 1914
Annual Tax Amount $20,212
Tax Year 2024
Property Sub-Type Multi Family
Source California Regional Multiple Listing Service (CRMLS)
Property Description
Three units are currently vacant and rent-ready, giving investors the ability to achieve a 7.06% cap rate and 9.21 GRM immediately upon lease-up — no renovations or repositioning required. Even at in-place rents, the property produces a 5.28% cap rate and 12.31 GRM, offering both stability and immediate upside.
Just blocks from the beach, Metro light rail, and major downtown employers, the location continues to drive strong demand and historically low turnover. Efficient layouts and steady rental fundamentals support both short- and long-term investment strategies. Ownership currently pays for water, gas, sewer, and trash.
This asset is ideally positioned for 1031 exchange buyers, yield-focused investors, or long-term holders seeking dependable cash flow in a high-demand market.
Location
State CA
County Los Angeles
Area 4 - Downtown Area, Alamitos Beach
Interior
Heating Ductless
Inclusions 2 commercial washers, 2 commercial dryers
Laundry Laundry Equipment Own Lease, Community, Dryer Included, Washer Included
Exterior
Utilities Available Sewer Connected, Electricity Connected, Natural Gas Connected
Building
Lot Description Near Public Transit, Park Nearby, 11-15 Units/Acre
Others
Virtual Tour https://player.vimeo.com/video/1069680769?badge=0&autopause=0&player_id=0&app_id=58479
Nicole Van Parys & Gary Nesen
License Partners, Private Office Advisors | License ID: 01108944