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1074 Redondo Avenue is an eight-unit multifamily investment opportunity located in Long Beach, California. Built in 1989, the three-story property consists of 100% spacious two- bedroom/two-bathroom residences averaging approximately 973 square feet. Each unit is equipped with HVAC and a private balcony, while additional amenities include 14 secure parking spaces and individually metered gas and electricity, providing desirable resident conveniences and operational efficiencies. Offered at $2,625,000, the property presents a compelling investment opportunity with pricing and income metrics that compare favorably to recent transactions. The projected 6.54% capitalization rate exceeds the comparable average of 5.95%, while the 9.87 gross rent multiplier is notably below the 12.02 comparable average. These metrics underscore the property's competitive acquisition basis and attractive projected income potential relative to comparable multifamily assets. Currently operated as student housing with rental income generated on a per-bed basis, the property is being marketed as a conventional market-rate multifamily investment. The pro forma reflects a transition to traditional per-unit leasing, with conservatively projected monthly rents of $2,595 per unit, approximately 8.2% below the surveyed comparable average of $2,828. This measured underwriting approach provides investors with meaningful additional rental upside potential beyond projected income. Situated within Long Beach's established residential market, the property benefits from proximity to the city's diverse employment centers, coastal amenities, and expanding aerospace and technology sectors. With a projected net operating income of $171,753, attractive acquisition metrics, and the opportunity to transition to conventional multifamily operations, 1074 Redondo Avenue offers investors a compelling opportunity to acquire a well-located, newer-vintage multifamily asset with competitive pricing and potential for long- term income growth.
| DAYS ON MARKET | 12 | LAST UPDATED | 11/3/2026 |
|---|---|---|---|
| TRACT | Eastside (ES) | YEAR BUILT | 1989 |
| COMMUNITY | 3 - Eastside, Circle Area | GARAGE SPACES | 14.0 |
| COUNTY | Los Angeles | STATUS | Active |
| PROPERTY TYPE(S) | Residential Income |
| ADDITIONAL DETAILS | |
| AREA | 3 - Eastside, Circle Area |
|---|---|
| GARAGE | Yes |
| LOT | 6129 sq ft |
| LOT DIMENSIONS | 6127 |
| POOL DESCRIPTION | None |
| SEWER | Public Sewer |
| STORIES | 3 |
| SUBDIVISION | Eastside (ES) |
| WATER | Public |
MORTGAGE CALCULATOR
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Listed with Keller Williams Realty Downey
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. 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.
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