Seller's Agent in 2025
Kacey Taormina
Compass
(714) 323-3200
1 in this area
81 Total Sales
1407 Obispo Ave Long Beach, CA 90804
Zaferia NeighborhoodEstimated Value: $1,366,931 - $1,374,000
10
Beds
6
Baths
5,272
Sq Ft
$260/Sq Ft
Est. Value
About This Home
As of December 20251407 Obispo Avenue is a 6-unit multifamily offering located in the heart of Long Beach’s Eastside neighborhood. The property consists of a front fourplex with (4) 2-bedroom, 1-bath units, each featuring in-unit laundry, and a rear duplex with (2) 1-bedroom, 1-bath units positioned above four single-car garages. The garage structure presents a future opportunity for ADU conversion or added income (buyer to verify). With current rents approximately 27% below market and an attractive price per square foot of just $282, this asset offers immediate upside through strategic renovations and tenant turnover. The property is priced at a 12.06 GRM on existing income, with a projected 9.49 GRM at market rents, offering a compelling return profile in a supply-constrained submarket. Residents benefit from proximity to Pacific Coast Highway retail, Recreation Park, Long Beach City College, and the shops and dining along Retro Row. With rising housing costs and ongoing demand for well-located rental units, 1407 Obispo Avenue offers a rare opportunity to acquire a value-add asset with strong long-term upside.
Last Agent to Sell the Property
Compass Brokerage Phone: 714-323-3200 License #01920673 Listed on: 05/07/2025
Property Details
Home Type
- Apartment
Year Built
- Built in 1929
Lot Details
- 7,429 Sq Ft Lot
- No Common Walls
- Rectangular Lot
Parking
- 4 Car Garage
Home Design
- Entry on the 1st floor
Interior Spaces
- 5,272 Sq Ft Home
- 2-Story Property
- Gas And Electric Dryer Hookup
Bedrooms and Bathrooms
- 10 Bedrooms
- 6 Bathrooms
Listing and Financial Details
- Tenant pays for electricity, gas
- Tax Lot 55
- Assessor Parcel Number 7259023013
- $1,340 per year additional tax assessments
Community Details
Overview
- 2 Buildings
- 6 Units
Building Details
- 6 Leased Units
- Rent Control
- 6 Separate Electric Meters
- 6 Separate Gas Meters
- 1 Separate Water Meter
- Electric Expense $1,500
- Gardener Expense $1,440
- Insurance Expense $7,908
- Water Sewer Expense $1,740
- Operating Expense $40,758
- Gross Income $123,228
- Net Operating Income $78,774
Ownership History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
May 7, 2025
Closed on
Dec 9, 2025
Sold by
Bought by
Seller's Agent
Kacey Taormina
Compass
Buyer's Agent
Aspen Labrador
Compass
List Price
$1,486,000
Sold Price
$1,350,000
Premium/Discount to List
-$136,000
-9.15%
Views
16
Current Estimated Value
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$34,528
Avg. Annual Appreciation
2.63%
Purchase Details
Closed on
Jul 9, 2024
Sold by
Bought by
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Home Values in the Area
Average Home Value in this Area
Purchase History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Buyer | Sale Price | Title Company |
|---|---|---|---|
| $1,350,000 | Consumers Title Company | ||
| -- | None Listed On Document |
Source: Public Records
Property History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 12/12/2025 12/12/25 | Sold | $1,350,000 | -2.2% | $256 / Sq Ft |
| 07/21/2025 07/21/25 | Pending | -- | -- | -- |
| 07/15/2025 07/15/25 | Price Changed | $1,380,000 | -1.1% | $262 / Sq Ft |
| 06/17/2025 06/17/25 | Price Changed | $1,395,000 | -6.1% | $265 / Sq Ft |
| 05/07/2025 05/07/25 | For Sale | $1,486,000 | -- | $282 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
Tax History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| 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 | $2,955 | $118,600 | $32,574 | $86,026 |
| 2024 | $2,790 | $116,276 | $31,936 | $84,340 |
| 2023 | $2,734 | $113,997 | $31,310 | $82,687 |
| 2022 | $2,606 | $111,763 | $30,697 | $81,066 |
| 2021 | $2,510 | $109,573 | $30,096 | $79,477 |
| 2019 | $2,475 | $106,955 | $29,204 | $77,751 |
| 2018 | $2,280 | $104,871 | $28,632 | $76,239 |
| 2016 | $2,079 | $100,195 | $27,521 | $72,674 |
| 2015 | $2,020 | $98,691 | $27,108 | $71,583 |
| 2014 | $2,045 | $96,758 | $26,577 | $70,181 |
Source: Public Records
Agents Affiliated with this Home
-
Kacey Taormina
-
Aspen Labrador
Seller Co-Listing Agent in 2025
Aspen Labrador
Compass
(949) 463-9892
1 in this area
25 Total Sales
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: NP25096923
APN: 7259-023-013
Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.
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. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. 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.
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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