3,815 Sqft Lot
3,815 Sqft Lot
Key Details
Property Type Apartment
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
Subdivision North Long Beach (Nlb)
MLS Listing ID PW25247306
HOA Y/N No
Year Built 1955
Lot Size 3,815 Sqft
Property Sub-Type Apartment
Property Description
Investment Overview:
This is a rare opportunity to acquire a 30-unit multifamily property strategically located in the vibrant and improving North Long Beach rental market. The property consists entirely of one-bedroom, one-bath units—a unit mix that remains among the most consistently in-demand and easy to lease in the area. With high tenant retention and historically low vacancy, this asset provides a stable income stream and strong long-term appreciation potential.
Property Highlights:
30 One-Bedroom / One-Bath Units – Highly sought-after floorplans offering functional layouts and reliable tenant demand. Ample Parking & Additional Income – Thirteen (13) garages and nine (9) off-street parking spaces generate supplemental revenue and tenant convenience. On-Site Laundry Facilities – Well-maintained common laundry areas add another source of ancillary income. Separately Metered Utilities – Each unit is individually metered for gas and electricity, reducing ownership expenses and simplifying management. Excellent Access – Centrally located with easy access to major freeways, employment centers, schools, and retail corridors.
ADU Development Potential:
Preliminary assessments indicate that the property may accommodate an additional 5 to 6 Accessory Dwelling Units (ADUs)—subject to verification by a qualified general contractor and city approval. At an estimated market rent of $1,820 per month per ADU, this expansion could add approximately $109,200 in annual income and potentially increase the property's value by over $1,092,000, offering significant upside for an investor with a value-add or development strategy. This additional ADU income would effectively bring down the property's GRM to approximately 8.8.
Financial Summary:
Asking Price: $6,450,000 (equivalent to approximately $215,000 per unit). Gross Rent Multiplier (GRM): 10.3
Upside Potential: Future ADU income + continued North Long Beach growth
Investment Summary:
This well-maintained apartment community represents a lucrative investment opportunity in a supply-constrained submarket with strong rental demand. Its combination of in-place income, low expense ratio, and meaningful upside potential through ADU expansion make it an attractive acquisition for both private investors and portfolio operators seeking stable yield and appreciation.
Location
State CA
County Los Angeles
Area 7 - North Long Beach
Interior
Cooling None
Fireplaces Type None
Fireplace No
Laundry Common Area
Exterior
Parking Features Assigned
Garage Spaces 13.0
Garage Description 13.0
Pool None
Community Features Suburban, Sidewalks
View Y/N No
View None
Roof Type Composition
Accessibility None
Total Parking Spaces 22
Private Pool No
Building
Lot Description Corner Lot
Story 2
Entry Level Two
Sewer Public Sewer
Architectural Style Contemporary
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 7114010051
Acceptable Financing Cash, Cash to New Loan
Listing Terms Cash, Cash to New Loan
Special Listing Condition Standard
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