Excellent opportunity to acquire a 13-unit apartment complex in a strong rental pocket of Long Beach, just north of Downtown in the South Wrigley neighborhood. The property offers convenient access to the Metro A Line and major freeways (710, 405, 91), providing tenants with strong regional connectivity. Built in 1952,… Read More the asset features an attractive unit mix of ten (10) 1-bedroom/1-bath units, two (2) 2-bedroom/1-bath units, and one (1) 2-bedroom/2-bath townhouse-style unit. The property is gated, separately metered for gas and electricity, and includes on-site laundry for additional income. Recent improvements include exterior paint, upgraded electrical panel, new water heater, and completed SB 721 compliance, helping reduce near-term capital expenditure. Subject to AB 1482, offering investors a more predictable and flexible operating environment compared to stricter municipalities. Ideal for investors seeking stable cash flow with upside potential through rental increases and operational efficiencies. Strong fit for local buyers and 1031 exchange investors targeting a well-located Long Beach asset. Read Less
Property listed by Lyon Stahl Investment Real Estate, Inc., Christopher Van Vuuren 310-259-7556
Listing Snapshot
Days Online
43
Last Updated
Property Type
Apartment
Lot Size
0.16 Acres
Year Built
1952
MLS Number
SB26063418
Additional Details
Building
Built in 1952, 1 building, 2 stories, Levels: Two, Entry level: 1, Entry location: 1
Community
Sidewalks
Expenses
Operating: $93,732
Income
Gross Income: $263,376, Gross ScheduledIncome: $263,376, Net Operating Income: $161,795
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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