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$ 2,495,000
Est. payment | /mo
4 Beds
4 Baths
7,340 Sqft Lot
$ 2,495,000
Est. payment | /mo
4 Beds
4 Baths
7,340 Sqft Lot
Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
Subdivision Alamitos Beach (Ab)
MLS Listing ID PW26097344
Bedrooms 4
Lot Size 7,340 Sqft
Property Sub-Type Res Income 2-4 Units
Property Description
Significant Price Improvement Compelling Coastal Investment Opportunity! Well-maintained 10-unit property located in the highly desirable Alamitos Beach neighborhood of Long Beach. The building features an attractive unit mix of (9) 1-bedroom/1-bath units and (1) 2-bedroom/1-bath unit, along with 6 single-car garages and 3 carport spacesan increasingly rare amenity in this coastal submarket. Offered for sale for the first time in 36 years, the property now benefits from recently implemented rental increases effective July 1, 2026, bringing total monthly income to $18,089 (including garage income). At the new pricing, the property operates at an attractive 5.71% cap rate on current income, with clear potential for additional upside through continued rent growth. Situated just blocks from the beach, dining, and retail, the property offers a highly walkable location with strong and consistent tenant demand. The existing garage structures may also present a potential opportunity for ADU conversion (buyer to verify), allowing a future owner to further enhance income and overall returns. This is a rare opportunity to acquire a stabilized, pride-of-ownership asset at a newly adjusted basis in one of Long Beachs most sought-after rental markets.
Location
State CA
County Los Angeles
Zoning Assessor
Direction 4th Street to Bonito Ave.
Interior
Fireplace No
Exterior
View Y/N No
Building
Story 2
Level or Stories 2
Others
Senior Community No
Tax ID 7266008024
Acceptable Financing Cash
Listing Terms Cash
Listed by Spencer Pabst, DRE#01849377 Pabst, Kinney & Associates
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "