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Diego Magdaleno

diego@1visionproperties.com +1(714) 376-8652

$2,095,000

Est. payment - /mo

6,603 Sqft Lot

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UPDATED:

Key Details

Property Type Single Family Home, Multi-Family

Sub Type Mixed Use

Listing Status Active

Purchase Type For Sale

MLS Listing ID SB25266595

HOA Y/N No

Year Built 1949

Lot Size 6,603 Sqft

Property Sub-Type Mixed Use

Property Description

Large high yield postwar 10 unit property in a dense high demand rental area of Long Beach. Great unit mix with five 2 bed/1 bath units, four 1 bed/1 bath units, and one studio in nearly 7,000 square feet of rentable space. High in-place cash flow at close with actual rents at 9.59X gross and a 6.2% cap rate plus a 12% upside to 8.43X GRM and a 7.4% cap rate at market. Community laundry room plus 5 garages for additional income or ADU conversion potential. All windows recently replaced in 2025.

Convenient location in the Washington neighborhood directly across the street from Washington Middle School, currently undergoing a massive $176 Million reconstruction project. Excellent transit access only a few blocks to the metro blue line rail station, PCH, and the 710 freeway. Just 7 blocks North of Downtown Long Beach, with ongoing new developments of over $8 Billion.

Walk Score 86/100

Location

State CA

County Los Angeles

Area 4 - Downtown Area, Alamitos Beach

Interior

Heating Wall Furnace

Cooling None

Flooring Carpet, Tile

Fireplaces Type None

Fireplace No

Appliance Gas Cooktop, Gas Oven

Laundry Common Area

Exterior

Parking Features Garage Faces Rear

Garage Spaces 5.0

Garage Description 5.0

Fence Wrought Iron

Pool None

Community Features Suburban

Utilities Available Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected

View Y/N No

View None

Roof Type Composition

Accessibility None

Total Parking Spaces 5

Private Pool No

Building

Lot Description Rectangular Lot

Faces East

Story 2

Entry Level Two

Foundation Raised

Sewer Public Sewer

Water Public

Level or Stories Two

New Construction No

Others

Senior Community No

Tax ID 7269041027

Energy Description 3447.0

Acceptable Financing 1031 Exchange

Listing Terms 1031 Exchange

Special Listing Condition Standard

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Listed by Anthony Walker Buckingham Investments, Inc 310-561-4776

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1415 Cedar Long Beach, CA 90813