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PRICED TO SELL - 9.6 GRM AND 6.5% CAP. EARN OVER A 9% CASH ON CASH RETURN. 12 Units on the Westside of Long Beach close to Downtown, subject to AB 1482 rent control - maximum annual increase of 5% + CPI (currently 8.7% total). 1 story, bungalow style building completely remodeled down to the studs. New electrical, plumbing, kitchens, baths, lighting, etc. - Buyer to verify. Seller spent over $600K on the remodel. The property is professionally managed and features an excellent unit mix of studio and 1 bed units. There is no onsite parking but plenty of street parking. The property features a Walkscore of 85 and is a just a few minutes walk from Downtown and the Metro station. There has been over $8BB in redevelopment in Long Beach in the past 10 years including a ton of new class A apartments and restaurants. The property is also conveniently located close to the 710 Freeway providing access to employment throughout LA and Orange County. Anduril Industries, a cutting-edge defense technology company specializing in AI applications announced that it is commencing a $1 billion redevelopment of land adjacent to the LB Airport. The project is planned to be completed in mid-2027 and is expected to create 5,500 new direct jobs at the site plus thousands of indirect construction and supply-chain service jobs. The Long Beach Airport is also undergoing a $37MM remodel in preparation for the 2028 Olympic Games. Excellent lender financing is available for qualified Buyers at 5.4% fixed for 5 years, with 25% down.
| DAYS ON MARKET | 29 | LAST UPDATED | 8/3/2026 |
|---|---|---|---|
| YEAR BUILT | 1923 | COMMUNITY | 4 - Downtown Area, Alamitos Beach |
| COUNTY | Los Angeles | STATUS | Active |
| PROPERTY TYPE(S) | Residential Income |
| PRICE HISTORY | |
| Prior to Aug 3, '26 | $2,049,000 |
|---|---|
| Aug 3, '26 - Today | $2,039,000 |
| ADDITIONAL DETAILS | |
| AREA | 4 - Downtown Area, Alamitos Beach |
|---|---|
| HEAT | Wall Furnace |
| LOT | 7423 sq ft |
| LOT DIMENSIONS | 50x150 |
| PARKING | None |
| STORIES | 1 |
MORTGAGE CALCULATOR
TOTAL MONTHLY PAYMENT
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