Significant Price Improvement – Premier Coastal Investment Opportunity!
Pabst, Kinney & Associates is pleased to present a well-maintained 10-unit apartment community located in the highly desirable Alamitos Beach neighborhood of Long Beach. The property features an attractive unit mix of (8) one-bedroom/one-bath units and (2) two-bedroom/one-bath units, complemented by 6 single-car… Read More garages and 3 carport spaces—an increasingly rare amenity in this premier coastal submarket.
Offered for sale for the first time in over 36 years, the asset has recently benefited from strategic rental increases effective July 1, 2026, bringing total current gross income to $18,089 per month (inclusive of garage income). At the newly adjusted pricing, the property operates at an attractive 5.80% cap rate on current income, with a projected 7.30% market cap rate, offering clear and measurable upside through continued rental growth.
Ideally situated just blocks from the beach, as well as a vibrant mix of dining, retail, and entertainment options, the property offers a highly walkable location with consistently strong tenant demand. Additionally, the existing garage structures may present a potential opportunity for ADU conversion (buyer to verify), providing a compelling value-add component to further enhance income and long-term returns.
This is a rare opportunity to acquire a stabilized, pride-of-ownership asset at a newly reduced basis in one of Long Beach’s most sought-after rental markets. Read Less
Property listed by Pabst, Kinney & Associates, Spencer Pabst 310-259-7556
Listing Snapshot
Days Online
108
Last Updated
Property Type
Apartment
Lot Size
0.17 Acres
Year Built
1962
MLS Number
PW26097344
Additional Details
Building
Built in 1962, 1 building, 2 stories, Levels: Two, Entry level: 1, Entry location: 1
Community
Sidewalks
Cooling
None
Fireplaces
None
Garage
6 spaces
Heating
WallFurnace
Income
Gross Income: $18,139, Gross ScheduledIncome: $217,668, Net Operating Income: $217,668
Laundry
LaundryRoom
Lot
0.1685 acres, RectangularLot
Parking
3 open parking spaces, 9 total parking spaces, Assigned
Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
Confirm your time
Fill in your details and we will contact you to confirm a time.
Michael Harby
or message me directly
Find My Dream Home
Put an experts eye on your home search! You’ll receive personalized matches of results delivered direct to you.
Import This Listing
Import Completed
To view your listing, click one of the options below.
