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$ 1,299,000
Est. payment | /mo
5 Beds
4 Baths
7,497 Sqft Lot
$ 1,299,000
Est. payment | /mo
5 Beds
4 Baths
7,497 Sqft Lot
Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID PW26223046
Bedrooms 5
Lot Size 7,497 Sqft
Property Sub-Type Res Income 2-4 Units
Property Description
Six units in three buildings with three separate addresses on an approximately 7,500 sq ft corner lot just north of Downtown Long Beach, across the street from 14th Street Park. Rents were reset in August 2026, bringing scheduled income to $115,492 per year: a 5.54% cap rate and 11.25 GRM at list price. The property offers a mix of one- and two-bedroom units, plus a rentable garage, storage rooms and on-site laundry. The garage also presents potential for conversion to an ADU, subject to buyer verification and city approval. The owner has kept reinvesting. All three buildings were repainted in 2025, the garage has a new door, one unit received new waterproof flooring and new windows, and another has a fully replaced shower and new flooring. Every unit has its own water heater, two of them recently replaced, and gas and electric are separately metered. Solid current income with room to grow, in a location close to Downtown. Offered in as-is condition.
Location
State CA
County Los Angeles
Zoning Assessor
Direction 14th between Chestnut and Cedar
Interior
Fireplace No
Exterior
View Y/N No
Building
Story 2
Level or Stories 2
Others
Senior Community No
Tax ID 7269042015
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Listed by Christian Walsh, DRE#01804983 Berkshire Hathaway HomeServices California Properties
Co-listed byTom Schulze • Wise Choices Realty
Co-listed byTom Schulze • Wise Choices Realty
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