1403 Lemon Ave Long Beach, CA 90813
Central NeighborhoodEstimated payment $7,113/month
Highlights
- Property is near public transit
- Landscaped
- 1-Story Property
- Long Beach Polytechnic High School Rated A
- Front Yard
About This Home
Welcome to 1403 Lemon Avenue, an outstanding multifamily investment located in the vibrant, rapidly appreciating area of Long Beach, California. This well-positioned five-unit income property offers investors a rare blend of strong in-place cash flow, potential for long-term value appreciation, and the benefit of 100% occupancy—all in one of Southern California’s most dynamic coastal cities. Positioned on a 6,519 square foot lot, the property consists of five distinct units with a combined living area of approximately 2,700 square feet. The unit mix includes: • One detached 4-bedroom, 2-bath front house, offering the feel and privacy of a single-family residence. • One 4-bedroom, 1-bath unit, perfect for larger households or shared living scenarios. • Three 2-bedroom, 1-bath units, ideal for small families, professionals, or long-term tenants. This unit diversity not only maximizes rental appeal across a broad demographic but also minimizes vacancy risk, ensuring a reliable income stream for the savvy investor. Strong Income with Upside Potential Currently operating at full occupancy, 1403 Lemon Ave delivers an impressive 8.76% cap rate—a rare find in today’s Southern California market. With below-market rents in place and room for value-add improvements, there’s still significant upside potential for rental increases over time, particularly as the Long Beach rental market continues to strengthen. For investors seeking a stabilized asset with future growth potential, this property offers both: strong existing cash flow and long-term opportunity for rent optimization and appreciation. Parking & Storage: Valuable Add-Ons The property includes four garages and two uncovered driveway parking spaces, a premium amenity in this densely populated urban neighborhood. These spaces could potentially generate additional income if rented separately or bundled with leases—another layer of return on your investment. Garages may also appeal to owner-users, short-term rental hosts, or tenants needing extra storage. Prime Location Near Downtown Long Beach
Listing Agent
Beverly and Company Brokerage Phone: 818-271-1233 License #02006267 Listed on: 06/10/2025
Home Details
Home Type
- Single Family
Year Built
- Built in 1924
Lot Details
- 6,603 Sq Ft Lot
- Landscaped
- Front Yard
- Property is zoned LBR1N
Parking
- 4 Car Garage
Home Design
- Entry on the 1st floor
Interior Spaces
- 2,700 Sq Ft Home
- 1-Story Property
Bedrooms and Bathrooms
- 14 Bedrooms
- 6 Bathrooms
Additional Features
- Exterior Lighting
- Property is near public transit
Listing and Financial Details
- Tax Lot 36
- Tax Tract Number 1761
- Assessor Parcel Number 7268015033
- $987 per year additional tax assessments
Community Details
Overview
- 5 Units
- Poly High Subdivision
Building Details
- 6 Separate Electric Meters
- 5 Separate Gas Meters
- 1 Separate Water Meter
Map
Home Values in the Area
Average Home Value in this Area
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $4,340 | $273,469 | $150,673 | $122,796 |
| 2024 | $4,340 | $268,108 | $147,719 | $120,389 |
| 2023 | $4,258 | $262,852 | $144,823 | $118,029 |
| 2022 | $4,022 | $257,699 | $141,984 | $115,715 |
| 2021 | $3,919 | $252,647 | $139,200 | $113,447 |
| 2020 | $3,909 | $250,057 | $137,773 | $112,284 |
| 2019 | $3,864 | $245,155 | $135,072 | $110,083 |
| 2018 | $3,654 | $240,349 | $132,424 | $107,925 |
| 2016 | $3,365 | $231,018 | $127,283 | $103,735 |
| 2015 | $3,245 | $227,549 | $125,372 | $102,177 |
| 2014 | $3,251 | $223,093 | $122,917 | $100,176 |
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 12/08/2025 12/08/25 | Price Changed | $1,300,000 | +8.8% | $481 / Sq Ft |
| 11/20/2025 11/20/25 | Price Changed | $1,195,000 | -8.0% | $443 / Sq Ft |
| 09/05/2025 09/05/25 | Price Changed | $1,299,000 | -10.4% | $481 / Sq Ft |
| 07/15/2025 07/15/25 | Price Changed | $1,450,000 | -2.0% | $537 / Sq Ft |
| 06/10/2025 06/10/25 | For Sale | $1,480,000 | -- | $548 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: SR25121571
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Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
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