
424 W 9th St Long Beach, CA 90813
Willmore NeighborhoodAbout This Home
As of July 20225.5% Cap Rate Day One & 11.95 GRM! 8-unit multi-family investment in Heart of Downtown Long Beach! Don’t miss this opportunity to own in Downtown LB near $8 billion in new capital!
The property consists of 2 buildings on a large, grassy 4,105 sq. ft. lot with (5) 1-bed/1-bath units and (3) studios. The 9th Street Apartments offer the best cap rate on the market and are complimented by beautiful landscaping and upgraded units. The units come with a mixture of hardwood floors, high ceilings, a sun-deck, granite counter tops, and vintage built-in cabinets. This property captures the beauty of the historic Willmore District with a fresh look to appeal to the young professionals flooding to Downtown Long Beach’s hip revival.
The 9th Street Apartments are situated just blocks from the ocean and minutes from the $520 million dollar Civic Center redevelopment, the $250 million Queen Mary Island waterfront development, the $53 million dollar Long Beach Aquarium expansion, and dozens of other new high rise and entertainment developments planned for Downtown Long Beach.
Already offering a 5.5% cap rate, the property’s below-market rents offer any investor the opportunity to easily achieve a 6.68% cap rate and a 10.43 GRM. This turn-key asset is the perfect investment for any exchange buyer or owner looking to own a piece of one of Southern California’s last affordable beach communities.
Last Agent to Sell the Property
Lyon Stahl Investment Real Estate, Inc. License #02035763 Listed on: 10/19/2018

Property Details
Home Type
- Multi-Family
Year Built
- Built in 1921
Lot Details
- 4,105 Sq Ft Lot
- 1 Common Wall
- Density is up to 1 Unit/Acre
Home Design
- 3,690 Sq Ft Home
- Property Attached
Bedrooms and Bathrooms
- 5 Bedrooms
- 8 Bathrooms
Location
- Suburban Location
Listing and Financial Details
- Tax Lot 2
- Tax Tract Number 4119
- Assessor Parcel Number 7272015016
Community Details
Overview
- 2 Buildings
- 8 Units
Building Details
- 6 Separate Electric Meters
- 1 Separate Gas Meter
- 1 Separate Water Meter
- Operating Expense $36,582
- Gross Income $116,724
- Net Operating Income $76,641
Similar Homes in Long Beach, CA
Home Values in the Area
Average Home Value in this Area
Property History
Date | Event | Price | Change | Sq Ft Price |
---|---|---|---|---|
07/21/2022 07/21/22 | Sold | $1,577,000 | +1.7% | $423 / Sq Ft |
05/11/2022 05/11/22 | Pending | -- | -- | -- |
05/05/2022 05/05/22 | For Sale | $1,550,000 | +10.7% | $416 / Sq Ft |
03/21/2019 03/21/19 | Sold | $1,400,000 | 0.0% | $379 / Sq Ft |
11/29/2018 11/29/18 | Off Market | $1,400,000 | -- | -- |
10/19/2018 10/19/18 | For Sale | $1,395,000 | -- | $378 / Sq Ft |
Tax History Compared to Growth
Agents Affiliated with this Home
-
Seller's Agent in 2022
Stephen Takahashi
Lyon Stahl Investment Real Estate, Inc.
(310) 403-9145
1 in this area
96 Total Sales
-
Seller Co-Listing Agent in 2022
Johnnie Stiegler
Lyon Stahl Investment Real Estate, Inc.
(310) 606-0939
1 in this area
91 Total Sales
-
Buyer's Agent in 2022
Vincent Cook
Kidder Mathews of California, Inc
(310) 982-7055
1 in this area
11 Total Sales
-
Seller's Agent in 2019
Cameron Samimi
Lyon Stahl Investment Real Estate, Inc.
(310) 259-7556
2 in this area
188 Total Sales
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: SB18254443

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