Long Beach, CA 90813
$2,349,000
Mark Quesada
Broker / Owner
DRE #02101365
PRICED TO SELL AT 9.1 GRM & 7.0% CAP WITH UPSIDE TO 7.4% CAP. Earn over a 9% cash on cash return against in place rents. 14 units in Long Beach subject to AB 1482 rent control - maximum annual increase of 5% + CPI (currently 8.7%). The property is professionally managed and well maintained. Some units have updated kitchens, baths and flooring. The property also just received updated landscaping and paint. The building features and excellent unit mix for the area and is located blocks from $8BB worth of redevelopment in the Down Town Long Beach area. There is no onsite parking but there is onsite laundry. The electrical is Siemens - it's a 200 AMP main panel with 30 AMP subpanels (Buyer to verify). Anduril Industries, a cutting-edge defense technology company specializing in AI applications announced that it is commencing a $1 billion redevelopment of land adjacent to the LB Airport. The project is planned to be completed in mid-2027 and is expected to create 5,500 new direct jobs at the site plus thousands of indirect construction and supply-chain service jobs. The City of Long Beach also just approved a $38MM makeover of the Long Beach Airport in preperation for the 2028 Olympics. Qualfied Buyers can get a new loan at 5.85% Fixed for 5 years.
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$17,336/mo
Estimate only. Not a loan offer, pre-approval, or commitment to lend. Taxes, insurance, and HOA are estimates that may differ from actual figures. Contact a licensed lender for a personalized quote.
Pick a day and time — Mark will confirm your private tour.
Interior
Construction
Lot & parking
Listed by Jonathan Swire, The Agency
MLS# 26825645 · Active
$625,000
Median sale price
58 days
Avg days on market
96.4% of list
Sells for
Closed sales in 90813 over the last 6 months, all home types.
Actual closed sales from the MLS — not estimates.
History reflects records reported to the MLS and may be incomplete.
