UPDATED:
Key Details
Property Type Apartment
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
Subdivision Alamitos Beach (Ab)
MLS Listing ID PW26097344
HOA Y/N No
Year Built 1962
Lot Size 7,339 Sqft
Property Sub-Type Apartment
Property Description
The property is being offered for sale for the first time in 36 years and provides strong in-place income with a current 5.02% cap rate, along with immediate and future upside potential. All units are eligible for rent increases beginning July 1, 2026, bringing the cap rate to approximately 5.56%, with further potential to reach a 6.62% market cap.
Located just blocks from the beach, dining, and retail, the property benefits from consistent tenant demand and a highly walkable location. Additionally, the existing garage structures may offer potential for ADU conversion (buyer to verify), providing an opportunity to further increase income and maximize value.
Ideal for investors seeking a stable coastal asset with both strong day-one cash flow and long-term upside in one of Long Beach's most sought-after rental markets.
Location
State CA
County Los Angeles
Area 4 - Downtown Area, Alamitos Beach
Interior
Heating Wall Furnace
Cooling None
Fireplaces Type None
Fireplace No
Laundry Laundry Room
Exterior
Parking Features Assigned
Garage Spaces 6.0
Garage Description 6.0
Pool None
Community Features Sidewalks
Total Parking Spaces 9
Private Pool No
Building
Lot Description Rectangular Lot
Story 2
Entry Level Two
Sewer Public Sewer
Water Public
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 7266008024
Acceptable Financing Cash, Cash to New Loan
Listing Terms Cash, Cash to New Loan
Special Listing Condition Standard
Nearby Schools & Businesses
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