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.
|
DAYS ON MARKET
|
1
|
LAST UPDATED
|
5/1/2025
|
|
TRACT
|
Alamitos Beach (AB)
|
YEAR BUILT
|
1921
|
|
COMMUNITY
|
Downtown Area, Alamitos Beach
|
COUNTY
|
Los Angeles
|
|
STATUS
|
Active
|
PROPERTY TYPE(S)
|
Residential Income
|
| 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 |
We respect your online privacy and will never spam you. By submitting this form with your telephone number
you are consenting for Ben
Salem to contact you even if your name is on a Federal or State
"Do not call List".
Listed with Buckingham Investments, Inc
The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.
Based on information from California Regional Multiple Listing Service, Inc. as of 5/2/25 9:12 AM PDT and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
This IDX solution is (c) Diverse Solutions 2025.
Save favorite listings, searches, and get the latest alerts
Save your favorite listings, searches, and receive the latest listing alerts
Twitter
Facebook
Email