Well-Maintained 7-Unit Apartment Investment with Strong Cash Flow.
Exceptional opportunity to acquire a well-maintained 7-unit apartment property located in Long Beach's desirable South Wrigley neighborhood. Situated on a 7,500 square foot lot with approximately 4,919 square feet of improvements, this income-producing asset offers strong in-place cash flow, recent capital improvements, and… Read More immediate upside potential.
The property consists of two upstairs 1-bedroom/1-bath units, four downstairs 1-bedroom/1-bath units, and one spacious downstairs 2-bedroom/1-bath unit. One upstairs unit is currently vacant and has been updated with new luxury vinyl plank flooring and refreshed interior finishes, providing immediate rental upside for a new owner. Seller believes a second unit may also be delivered vacant at closing, creating additional flexibility for lease-up or renovation strategies.
Several units are currently being utilized with additional rooms beyond their original layouts. Four of the downstairs 1-bedroom units are being used as 2-bedroom units, while the larger downstairs unit is currently utilized as a 3-bedroom unit.
Ownership has completed numerous capital improvements, including electrical service upgrades in 2025, copper repiping of the upstairs units, replacement of gas lines, installation of a copper main water supply line, and ongoing roof maintenance. Each unit is individually metered for gas and electricity, helping reduce owner-paid utility expenses and improve operating efficiency.
The property currently generates approximately $13,075 per month in gross rental income and is offered at an attractive 6.4% cap rate and 10.20 gross rent multiplier (GRM) based on current operations. Investors may benefit from favorable financing options, with the property potentially qualifying for financing with approximately 25% down.
Additional amenities include four garages, on-site parking, and a desirable courtyard-style layout that enhances tenant appeal. Conveniently located near Pacific Coast Highway, Downtown Long Beach, public transportation, shopping, dining, and major employment centers, this property is well-positioned to benefit from continued rental demand and long-term appreciation.
This is a rare opportunity to acquire a stabilized multifamily investment offering strong current returns, recent capital improvements, vacancy upside, and significant long-term growth potential. Read Less
Property listed by Sage Real Estate Group, Inc., Juan Huizar 310-259-7556
Listing Snapshot
Days Online
15
Last Updated
Property Type
Apartment
Lot Size
0.17 Acres
Year Built
1956
MLS Number
PW26122313
Additional Details
Property Access
Frontage Type: CityStreet, Road Surface: Paved
Appliances & Equipment
Dryer, Washer
Building
Built in 1956, 1 building, 2 stories, Levels: Two, Entry level: 1, Entry location: 1, Construction Materials: Stucco
ElectricityConnected, NaturalGasConnected, SewerConnected, WaterConnected, Water Source: Public, ElectricityOnProperty, 7 separate electric meters, 7 separate gas meters
Windows
WoodFrames
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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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