$2,450,000
SOLD NOV 4, 2025
12 Beds
8 Baths
6,300 Sq Ft
7,210 Sq Ft Lot

Recently Sold

$389 Per Sq Ft

7% Below List Price

229 Days on Market

Highlights

  • Property is near public transit
  • Laundry Room
  • Level Lot
  • Mark Twain Elementary School Rated A-
  • 4 Detached Carport Spaces

About This Home

As of November 2025

We are pleased to present an 8-unit apartment building in Long Beach, California. Built in 1961, this property offers 6,300 rentable square feet on a 7,210-square-foot lot. The unit mix includes four 1-bedroom/1-bathroom units and four 2-bedroom/1-bathroom units. All eight units have been upgraded, and the entire building features copper plumbing. Additional improvements include a roof repair completed in 2022 and updated electrical panels replaced in 2023. The property is separately metered for electricity and gas, with additional income generated from an onsite laundry facility. Residents also benefit from eight dedicated parking spaces. Situated in the desirable Lakewood Village neighborhood, the property is conveniently located near shopping, dining, Long Beach City College, California State University Long Beach, and Long Beach Airport. Long Beach is undergoing significant redevelopment, with the $4.4 billion expansion of the Long Beach Port expected to create 14,000 new permanent jobs in Southern California. Additionally, the city is experiencing a construction boom, with over $5 billion in private and public investments currently in progress. The new $520 million Long Beach Civic Center now houses City Hall, the Port of Long Beach headquarters, and the Main Library. With its strong economy, high quality of life, and ongoing revitalization, Long Beach remains an attractive rental market. This property boasts a history of high occupancy and offers significant upside potential for rental income.

Last Agent to Sell the Property

George Bustamante

Coldwell Banker Commercial Brokerage Phone: 714-856-7017 License #01484265 Listed on: 02/07/2025

Coldwell Banker Commercial

Co-Listed By

Steve Warshauer

Coldwell Banker Commercial Brokerage Phone: 714-856-7017 License #00499477

Last Buyer's Agent

Steve Nader

Beach Team License #01982651

Beach Team

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1961

Lot Details

  • 7,210 Sq Ft Lot
  • Two or More Common Walls
  • Level Lot

Home Design

  • Apartment
  • Entry on the 1st floor

Interior Spaces

  • 6,300 Sq Ft Home
  • 2-Story Property
  • Laundry Room

Bedrooms and Bathrooms

  • 12 Bedrooms
  • 8 Bathrooms

Parking

  • 4 Open Parking Spaces
  • 8 Parking Spaces
  • 4 Detached Carport Spaces
  • Parking Available

Location

  • Property is near public transit
  • Urban Location

Listing and Financial Details

  • Tenant pays for electricity, gas
  • Tax Lot 7
  • Tax Tract Number 26580
  • Assessor Parcel Number 7180017025

Community Details

Overview

  • 8 Units
  • Lakewood Village Subdivision

Amenities

  • Laundry Facilities

Building Details

  • 8 Leased Units
  • 9 Separate Electric Meters
  • 9 Separate Gas Meters
  • 1 Separate Water Meter
  • Operating Expense $61,042
  • Gross Income $204,960
  • Net Operating Income $135,743

Property Details

Home Type

Multi-Family

Year Built

Built in 1961

Lot Details

0

Listing Details

  • Assessments: Yes
  • CapRate: 5.45
  • Property Attached: Yes
  • Subdivision Name Other: Lakewood Village (LKVL)
  • Zoning: LBR4R
  • Property Sub Type: Apartment
  • Property Type: Residential Income
  • Parcel Number: 7180017025
  • Year Built: 1961
  • Special Features: None

Interior Features

  • Fireplace: No
  • Stories: 2
  • Common Walls: 2+ Common Walls
  • Entry Level: 1
  • Price Per Square Foot: 388.89

Exterior Features

  • Pool Private: No

Garage/Parking

  • Carport Spaces: 4.00
  • Parking: Yes
  • Parking Features: Detached Carport
  • Total Parking Spaces: 8.00
  • Uncovered Spaces: 4.00

Utilities

  • Laundry: Yes
  • Laundry Features: Community
  • Sewer: Public Sewer
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No
  • Common Interest: Community Apartment
  • Community Features: Curbs, Sidewalks, Storm Drains, Urban

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: Level with Street, Near Public Transit, Walkstreet
  • Lot Size Sq Ft: 7210.00
  • Lot Size Acres: 0.1655

Rental Info

  • Tenant Pays: Electricity, Gas

Multi Family

  • Gross Income: 204960.00
  • Gross Multiplier: 12.00
  • Gross Scheduled Income: 204420.00
  • Laundry Income: 480.00
  • Lot Size Area: 7210.0000 Square Feet
  • Net Operating Income: 135743.00
  • Number Of Separate Electric Meters: 9
  • Number Of Separate Gas Meters: 9
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 8
  • Number Of Units Total: 8
  • Operating Expense: 61040.00
  • Rent Control: No
  • Total Actual Rent: 17080.00
  • Total Expenses: 61042.00

Tax Info

  • Tax Census Tract: 5712.02
  • Tax Lot: 7
  • Tax Tract Number: 26580
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft Prior Sale
11/04/2025 11/04/25 Sold $2,450,000 -1.6% $389 / Sq Ft
09/24/2025 09/24/25 Pending -- -- --
06/05/2025 06/05/25 Price Changed $2,490,000 -2.4% $395 / Sq Ft
03/25/2025 03/25/25 Price Changed $2,550,000 +900.0% $405 / Sq Ft
03/25/2025 03/25/25 Price Changed $255,000 -90.3% $40 / Sq Ft
02/07/2025 02/07/25 For Sale $2,625,000 +31.3% $417 / Sq Ft
02/20/2020 02/20/20 Sold $2,000,000 +5.5% $317 / Sq Ft View Prior Sale
11/09/2019 11/09/19 Pending -- -- --
11/02/2019 11/02/19 For Sale $1,895,000 0.0% $300 / Sq Ft
10/24/2019 10/24/19 Pending -- -- --
10/17/2019 10/17/19 For Sale $1,895,000 -- $300 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

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 $28,252 $2,187,288 $1,312,373 $874,915
2024 $28,252 $2,144,401 $1,286,641 $857,760
2023 $27,773 $2,102,355 $1,261,413 $840,942
2022 $26,069 $2,061,133 $1,236,680 $824,453
2021 $25,537 $2,020,720 $1,212,432 $808,288
2020 $20,635 $1,597,383 $840,727 $756,656
2019 $20,394 $1,566,063 $824,243 $741,820
2018 $19,831 $1,535,357 $808,082 $727,275
2016 $18,232 $1,475,739 $776,704 $699,035
2015 $17,507 $1,453,573 $765,038 $688,535
2014 $17,403 $1,425,100 $750,052 $675,048
Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PW25028496

California Regional Multiple Listing Service (CRMLS)