Description
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 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.
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0BEDS
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0.17ACRES
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0BATHS
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01/2 BATHS
School Ratings & Info
Description
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 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.
Based on information from California Regional Multiple Listing Service, Inc. as of 2026-05-10T00:37:38.39. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or RE/MAX Empire Properties. Licensed in the State of California, USA.