Well-maintained 10-unit property located in the highly desirable Alamitos Beach neighborhood of Long Beach. The building features an attractive unit mix of (9) 1-bedroom/1-bath units and (1) 2-bedroom/1-bath unit, along with 6 single-car garages and 3 carport spaces—an increasingly rare amenity in this coastal submarket.
The property is being offered for… Read More 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. Read Less
Property listed by Pabst, Kinney & Associates, Spencer Pabst 310-259-7556
Listing Snapshot
Days Online
0
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: $17,101, Gross ScheduledIncome: $205,212, Net Operating Income: $205,212
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.
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