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$ 1,480,000
Est. payment | /mo
6,603 Sqft Lot
$ 1,480,000
Est. payment | /mo
6,603 Sqft Lot
Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID SR25121571
HOA Y/N No
Lot Size 6,603 Sqft
Property Sub-Type Res Income 2-4 Units
Property Description
Welcome to 1403 Lemon Avenue, an outstanding multifamily investment located in the vibrant, rapidly appreciating area of Long Beach, California. This well-positioned five-unit income property offers investors a rare blend of strong in-place cash flow, potential for long-term value appreciation, and the benefit of 100% occupancyall in one of Southern Californias most dynamic coastal cities. Positioned on a 6,519 square foot lot, the property consists of five distinct units with a combined living area of approximately 2,700 square feet. The unit mix includes: One detached 4-bedroom, 2-bath front house, offering the feel and privacy of a single-family residence. One 4-bedroom, 1-bath unit, perfect for larger households or shared living scenarios. Three 2-bedroom, 1-bath units, ideal for small families, professionals, or long-term tenants. This unit diversity not only maximizes rental appeal across a broad demographic but also minimizes vacancy risk, ensuring a reliable income stream for the savvy investor. Strong Income with Upside Potential Currently operating at full occupancy, 1403 Lemon Ave delivers an impressive 8.76% cap ratea rare find in todays Southern California market. With below-market rents in place and room for value-add improvements, theres still significant upside potential for rental increases over time, particularly as the Long Beach rental market continues to strengthen. For investors seeking a stabilized asset with future growth potential, this property offers both: strong existing cash flow and long-term opportunity for rent optimization and appreciatio
Welcome to 1403 Lemon Avenue, an outstanding multifamily investment located in the vibrant, rapidly appreciating area of Long Beach, California. This well-positioned five-unit income property offers investors a rare blend of strong in-place cash flow, potential for long-term value appreciation, and the benefit of 100% occupancyall in one of Southern Californias most dynamic coastal cities. Positioned on a 6,519 square foot lot, the property consists of five distinct units with a combined living area of approximately 2,700 square feet. The unit mix includes: One detached 4-bedroom, 2-bath front house, offering the feel and privacy of a single-family residence. One 4-bedroom, 1-bath unit, perfect for larger households or shared living scenarios. Three 2-bedroom, 1-bath units, ideal for small families, professionals, or long-term tenants. This unit diversity not only maximizes rental appeal across a broad demographic but also minimizes vacancy risk, ensuring a reliable income stream for the savvy investor. Strong Income with Upside Potential Currently operating at full occupancy, 1403 Lemon Ave delivers an impressive 8.76% cap ratea rare find in todays Southern California market. With below-market rents in place and room for value-add improvements, theres still significant upside potential for rental increases over time, particularly as the Long Beach rental market continues to strengthen. For investors seeking a stabilized asset with future growth potential, this property offers both: strong existing cash flow and long-term opportunity for rent optimization and appreciation. Parking & Storage: Valuable Add-Ons The property includes four garages and two uncovered driveway parking spaces, a premium amenity in this densely populated urban neighborhood. These spaces could potentially generate additional income if rented separately or bundled with leasesanother layer of return on your investment. Garages may also appeal to owner-users, short-term rental hosts, or tenants needing extra storage. Prime Location Near Downtown Long Beach
Welcome to 1403 Lemon Avenue, an outstanding multifamily investment located in the vibrant, rapidly appreciating area of Long Beach, California. This well-positioned five-unit income property offers investors a rare blend of strong in-place cash flow, potential for long-term value appreciation, and the benefit of 100% occupancyall in one of Southern Californias most dynamic coastal cities. Positioned on a 6,519 square foot lot, the property consists of five distinct units with a combined living area of approximately 2,700 square feet. The unit mix includes: One detached 4-bedroom, 2-bath front house, offering the feel and privacy of a single-family residence. One 4-bedroom, 1-bath unit, perfect for larger households or shared living scenarios. Three 2-bedroom, 1-bath units, ideal for small families, professionals, or long-term tenants. This unit diversity not only maximizes rental appeal across a broad demographic but also minimizes vacancy risk, ensuring a reliable income stream for the savvy investor. Strong Income with Upside Potential Currently operating at full occupancy, 1403 Lemon Ave delivers an impressive 8.76% cap ratea rare find in todays Southern California market. With below-market rents in place and room for value-add improvements, theres still significant upside potential for rental increases over time, particularly as the Long Beach rental market continues to strengthen. For investors seeking a stabilized asset with future growth potential, this property offers both: strong existing cash flow and long-term opportunity for rent optimization and appreciation. Parking & Storage: Valuable Add-Ons The property includes four garages and two uncovered driveway parking spaces, a premium amenity in this densely populated urban neighborhood. These spaces could potentially generate additional income if rented separately or bundled with leasesanother layer of return on your investment. Garages may also appeal to owner-users, short-term rental hosts, or tenants needing extra storage. Prime Location Near Downtown Long Beach
Location
State CA
County Los Angeles
Area Long Beach (90813)
Zoning Public Rec
Building
Lot Description Curbs, Sidewalks
Story 1
Lot Size Range 4000-7499 SF
Others
Monthly Total Fees $82
Acceptable Financing Cash, Conventional, Exchange
Listing Terms Cash, Conventional, Exchange
Listed by Milla Pariser • Beverly and Company
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6050 Santo Rd Suite 270, Diego, California, 92124, United States