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Amazing 7.4% in-place yield plus a 10% upside to an 8.4% cap rate at market! 1953-built, 10-unit property in a dense, high-demand rental area of Long Beach. 8.9X GRM on current rents and 8.1X GRM at market for postwar units under $200K/door. Strong unit mix: (8) 1 bed / 1 bath and (2) 2 bed / 1 bath units. 4 of 10 units just remodeled with new flooring, lighting, kitchens and bathrooms. Community laundry room plus 4 garages for added income or ADU conversion potential. All units separately metered for gas and electricity. Directly across from Washington Middle School, currently undergoing a $176 million reconstruction. Just a few blocks to the Metro Blue Line rail station, PCH and the 710 Freeway. Over 60% of households within 5 miles are renters with an average household income of over $94,000 (Costar).
| DAYS ON MARKET | 7 | LAST UPDATED | 11/12/2026 |
|---|---|---|---|
| TRACT | Washington | YEAR BUILT | 1953 |
| COMMUNITY | 4 - Downtown Area, Alamitos Beach | GARAGE SPACES | 4.0 |
| COUNTY | Los Angeles | STATUS | Active |
| PROPERTY TYPE(S) | Residential Income |
| ADDITIONAL DETAILS | |
| AIR | None |
|---|---|
| APPLIANCES | Gas Range |
| AREA | 4 - Downtown Area, Alamitos Beach |
| CONSTRUCTION | Stucco |
| GARAGE | Yes |
| HEAT | Wall Furnace |
| LOT | 6691 sq ft |
| LOT DESCRIPTION | Rectangular Lot |
| LOT DIMENSIONS | 6691 |
| POOL DESCRIPTION | None |
| SEWER | Public Sewer |
| STORIES | 2 |
| SUBDIVISION | Washington |
| UTILITIES | Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected |
| VIEW DESCRIPTION | None |
| WATER | Public |
MORTGAGE CALCULATOR
TOTAL MONTHLY PAYMENT
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Listed with Buckingham Investments, Inc
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