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4 renovated units located in downtown Long Beach, fully leased with gross scheduled rents over $110,000 per year! The property has an attractive unit mix of (2) 3-bedroom 1-bath units and (2) 2-bedroom 1-bath units. All 4 units have been meticulously renovated in 2023 including new flooring, cabinetry, Quartz countertops, light fixtures, wall heaters, water heater, sinks, appliances, blinds, and fresh paint. The property boasts a completely upgraded electrical system in 2023, including a full re-wire, new main service panel, and sub panels, as well as a 2024 Silicone white roof! The current owners have invested over $150,000 into property improvements, making it perfect for a turnkey investor. The property is individually metered for gas and electricity. Attractively priced at 12.47 GRM and a 5.3% cap rate with upside to 10.15 GRM and 7.0% pro forma cap rate!! Reach out today!
| DAYS ON MARKET | 67 | LAST UPDATED | 7/31/2025 |
|---|---|---|---|
| TRACT | Downtown (DT) | YEAR BUILT | 1914 |
| COMMUNITY | 4 - Downtown Area, Alamitos Beach | COUNTY | Los Angeles |
| STATUS | Active | PROPERTY TYPE(S) | Single Family |
| ADDITIONAL DETAILS | |
| AIR | None |
|---|---|
| AREA | 4 - Downtown Area, Alamitos Beach |
| HEAT | Wall Furnace |
| INTERIOR | Master Downstairs |
| LOT | 3001 sq ft |
| PARKING | None, On Street |
| POOL DESCRIPTION | None |
| SEWER | Public Sewer |
| STORIES | 2 |
| SUBDIVISION | Downtown (DT) |
| VIEW DESCRIPTION | None |
| WATER | Public |
TOTAL MONTHLY PAYMENT
| SATELLITE VIEW |
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Based on information from California Regional Multiple Listing Service, Inc. as of 9/26/25 11:16 PM 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
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