$1,695,000
$100K PRICE DROP

Estimated payment $9,394/month

Total Views 2,879
4 Beds
6 Baths
3,644 Sq Ft
$465 Price per Sq Ft

Highlights

  • Private Yard
  • Woodrow Wilson High School Rated A
  • Laundry Room

About This Home

Price Reduction! Fully Renovated 6-unit building cash flowing at an amazing Current Cap Rate of 5.4% from day 1! Preliminary plans to add 5 ADUs to achieve an incredible 9% Cap Rate, 8.4 GRM, and only 203k/unit after taking into account all the construction costs (~546k assuming $200/SF). Attractive unit mix consisting of (4) well-designed One-Bedroom | One-Bathroom residential units plus (2) well-established commercial tenants (mini-market & flower-shop) both of which have been at this location for many years and have expressed interest for continued tenancy for years to come. The property is separately metered for gas and electrical utilities and each unit has its own individual water heater to further reduce operating costs. Large lot with 7 parking spaces in the back with future development & ADU potential. The property has seen a complete restoration, down to every inch. Overall systems were updated with new copper plumbing in units, new electrical sub-panels in units, new HVAC systems, new water heaters, and brand-new windows in each unit. The units have undergone gut-level updating with new wood flooring, updated lighting fixtures, and brand-new kitchen and bathrooms. In the kitchen, there are new cabinets and modern countertops. The bathrooms boast new vanities and modern fixtures along with sleek bathtubs. Located in the heart of the vibrant Zaferia Design District, this well-positioned asset offers unbeatable access to local staples such as Joe Jost’s, the Traffic Circle, Recreation Park, eclectic restaurants, bars, boutiques, galleries, and more. Located just minutes from the beach and central to the 405, 710 and 605 Freeways, offering tenants easy access to attractions and employers across the region. Long Beach is a popular rental market and population and employment hub with easy access to the beach, colleges (such as Cal State Long Beach), and major attractions including the Queen Mary, Aquarium of the Pacific, and more. Long Beach offers investors the opportunity to acquire assets in a coastal rental market with low vacancy rates without premium coastal pricing.

Listing Agent

Alec Kara

Keller Williams Pacific Estate Brokerage Phone: 818-720-8521 License #02030808 Listed on: 07/23/2025

Keller Williams Pacific Estate

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $4,352

Year Built

  • Built in 1936

Lot Details

  • 5,852 Sq Ft Lot
  • Two or More Common Walls
  • Private Yard
  • Back Yard

Home Design

  • Property Attached
  • Entry on the 1st floor

Interior Spaces

  • 3,644 Sq Ft Home
  • 2-Story Property
  • Laundry Room

Bedrooms and Bathrooms

  • 4 Bedrooms
  • 6 Bathrooms

Outdoor Features

  • Exterior Lighting

Listing and Financial Details

  • Tax Lot 4
  • Tax Tract Number 4
  • Assessor Parcel Number 7260028004
  • $1,290 per year additional tax assessments

Community Details

Overview

  • 2 Buildings
  • 6 Units

Amenities

  • Laundry Facilities

Building Details

  • Rent Control
  • 6 Separate Electric Meters
  • 5 Separate Gas Meters
  • 1 Separate Water Meter
  • Electric Expense $1,500
  • Fuel Expense $500
  • Gardener Expense $1,200
  • Insurance Expense $3,644
  • Pest Control $1,200
  • Professional Management Expense $5,182
  • Trash Expense $500
  • Water Sewer Expense $500
  • Operating Expense $38,766
  • Gross Income $129,553
  • Net Operating Income $91,987

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$4,352

Year Built

Built in 1936

Lot Details

0

Listing Details

  • CapRate: 5.06
  • Price Per Unit: 282500
  • Professional Management Expense: 5182.00
  • Property Attached: Yes
  • Water Sewer Expenses: 500.00
  • Zoning: LBCCP
  • Property Sub Type: Commercial/Residential
  • Property Type: Residential Income
  • Gardener Expense: 1200.00
  • Parcel Number: 7260028004
  • Year Built: 1936
  • Special Features: None

Interior Features

  • Stories: 2
  • Entry Location: 1st
  • Common Walls: 2+ Common Walls
  • Entry Level: 1
  • Levels: Two
  • Price Per Square Foot: 465.15

Exterior Features

  • Pool Private: No

Utilities

  • Laundry: Yes
  • Laundry Features: Common Area
  • Pest Control Expense: 1200.00
  • Sewer: Public Sewer
  • Trash Expense: 500.00
  • Water Source: Other

Condo/Co-op/Association

  • Senior Community: No
  • Community Features: Sidewalks, Street Lights

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: Back Yard, Yard
  • Lot Size Sq Ft: 5852.00
  • Lot Size Acres: 0.1343

Multi Family

  • Electric Expense: 1500.00
  • Fuel Expense: 500.00
  • Gross Income: 129553.00
  • Gross Multiplier: 13.44
  • Gross Scheduled Income: 133560.00
  • Insurance Expense: 3644.00
  • Lot Size Area: 5852.0000 Square Feet
  • Net Operating Income: 91987.00
  • Number Of Separate Electric Meters: 6
  • Number Of Separate Gas Meters: 5
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 6
  • Operating Expense: 37566.00
  • Rent Control: Yes
  • Total Actual Rent: 11130.00
  • Total Expenses: 38766.00

Tax Info

  • Tax Census Tract: 5769.03
  • Tax Lot: 4
  • Tax Tract Number: 4
  • TaxOtherAnnualAssessmentAmount: 1290.00

Map

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

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 $4,352 $248,583 $145,007 $103,576
2024 $4,352 $243,710 $142,164 $101,546
2023 $4,263 $238,932 $139,377 $99,555
2022 $4,032 $234,248 $136,645 $97,603
2021 $3,914 $229,656 $133,966 $95,690
2019 $3,858 $222,846 $129,994 $92,852
2018 $3,663 $218,478 $127,446 $91,032
2016 $3,373 $209,998 $122,499 $87,499
2015 $3,259 $206,844 $120,659 $86,185
2014 $3,240 $202,793 $118,296 $84,497
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
09/02/2025 09/02/25 Price Changed $1,695,000 -5.6% $465 / Sq Ft
07/23/2025 07/23/25 For Sale $1,795,000 -- $493 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Purchase History

Date Type Sale Price Title Company
Grant Deed $800,000 Fidelity National Title
Interfamily Deed Transfer -- None Available
Interfamily Deed Transfer -- None Available
Interfamily Deed Transfer -- None Available
Source: Public Records

Mortgage History

Date Status Loan Amount Loan Type
Previous Owner $757,096 Construction
Source: Public Records

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PW25165266

California Regional Multiple Listing Service (CRMLS)

APN: 7260-028-004