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Welcome to 1403 Lemon Avenue, an outstanding multifamily investment located in the vibrant, rapidly appreciating area of Long Beach, California. This well-positioned five-unit income property offers investors a rare blend of strong in-place cash flow, potential for long-term value appreciation, and the benefit of 100% occupancy"”all in one of Southern California's most dynamic coastal cities. Positioned on a 6,519 square foot lot, the property consists of five distinct units with a combined living area of approximately 2,700 square feet. The unit mix includes: "¢ One detached 4-bedroom, 2-bath front house, offering the feel and privacy of a single-family residence. "¢ One 4-bedroom, 1-bath unit, perfect for larger households or shared living scenarios. "¢ Three 2-bedroom, 1-bath units, ideal for small families, professionals, or long-term tenants. This unit diversity not only maximizes rental appeal across a broad demographic but also minimizes vacancy risk, ensuring a reliable income stream for the savvy investor. Strong Income with Upside Potential Currently operating at full occupancy, 1403 Lemon Ave delivers an impressive 8.76% cap rate"”a rare find in today's Southern California market. With below-market rents in place and room for value-add improvements, there's still significant upside potential for rental increases over time, particularly as the Long Beach rental market continues to strengthen. For investors seeking a stabilized asset with future growth potential, this property offers both: strong existing cash flow and long-term opportunity for rent optimization and appreciation. Parking & Storage: Valuable Add-Ons The property includes four garages and two uncovered driveway parking spaces, a premium amenity in this densely populated urban neighborhood. These spaces could potentially generate additional income if rented separately or bundled with leases"”another layer of return on your investment. Garages may also appeal to owner-users, short-term rental hosts, or tenants needing extra storage. Prime Location Near Downtown Long Beach
| DAYS ON MARKET | 282 | LAST UPDATED | 12/8/2025 |
|---|---|---|---|
| TRACT | Poly High (PH) | YEAR BUILT | 1924 |
| COMMUNITY | 9 - Poly High | GARAGE SPACES | 4.0 |
| COUNTY | Los Angeles | STATUS | Active |
| PROPERTY TYPE(S) | Residential Income |
| PRICE HISTORY | |
| Prior to Jul 15, '25 | $1,480,000 |
|---|---|
| Jul 15, '25 - Sep 6, '25 | $1,450,000 |
| Sep 6, '25 - Nov 21, '25 | $1,299,000 |
| Nov 21, '25 - Dec 8, '25 | $1,195,000 |
| Dec 8, '25 - Today | $1,300,000 |
| ADDITIONAL DETAILS | |
| AREA | 9 - Poly High |
|---|---|
| GARAGE | Yes |
| LOT | 6604 sq ft |
| LOT DESCRIPTION | Front Yard, Landscaped, Near Public Transit |
| LOT DIMENSIONS | 6603 |
| POOL DESCRIPTION | None |
| SEWER | Public Sewer |
| STORIES | 1 |
| SUBDIVISION | Poly High (PH) |
| WATER | Public |
TOTAL MONTHLY PAYMENT
| SATELLITE VIEW |
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Based on information from California Regional Multiple Listing Service, Inc. as of 3/19/26 5:31 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
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