Est. cap rate

2.6%

Assumed rent, all units

$12,160/mo

Units

4

Price per unit

$698,750

Est. annual NOI

$72,960

Expense assumption

50%

Estimates only, based on HUD Fair Market Rents (a conservative 40th percentile floor) and a standard 50% operating expense assumption. Not a guarantee of income or value. Ask Alex for a pro forma using comparable rent data.

Run your own numbers

Adjust the assumptions to see cash flow and cash on cash return.

Illustration only, using a 30 year loan and your assumptions above. Not a loan offer, financial advice, or a guarantee. Confirm financing and actual rents independently.

Property details

Type

Quadruplex

Bedrooms

4

Building size

4,210 sqft

Lot size

4,343 sqft

Year built

1924

Stories

2

Garage spaces

4

Style

Spanish

Heating

Wall Furnace,Central

Cooling

Central Air,Wall/Window Unit(s)

Pool

None

View

Ocean,Neighborhood

Status

Active

Days on market

165

MLS #

241210531

About this property

NEW PRICE! Exceptional Bluff Park Spanish Fourplex —Owner-User Opportunity, Current Income & Future Upside Just Two Blocks from the Beach. Rarely does a property offer this combination of location, income, flexibility, and extensive improvements. If all four residences were rented, the property has the potential to generate approximately $1845 per month / $142,140 annually in gross income. The spacious 4-bedroom, 2.5-bath current owner’s residence is estimated at $4,500 per month ($54,000 annually), while the three 1-bedroom residences currently generate a combined $7,345 per month ($88,140 annually). For an owner-user, the opportunity is equally attractive. Occupy the expansive four-bedroom main residence while collecting nearly $7,350 per month from the three additional residences, an exceptional combination of comfortable coastal living and substantial rental income. The property has benefited from over $700,000 in improvements, including an extensive reconstruction to the owners unit, taken down to the studs while carefully preserving the property’s original Spanish architecture and character. Improvements include updated plumbing and electrical systems, countertops, garage reconstruction, seismic retrofitting, HVAC, whole-house stereo, private laundry, and a private patio with built-in seating and BBQ. The residence also includes a two-car garage. Each of the three 1-bedroom residences enjoys its own private patio, while the property is centered around a beautifully landscaped courtyard accented by fountains, creating a wonderful sense of privacy, charm, and separation between the residences. Located just two blocks from the beach in highly desirable Bluff Park, this is a rare coastal investment offering current income, owner-user flexibility, and future income potential—all while enjoying the lifestyle and character of one of Long Beach’s most sought-after neighborhoods.

Location

3409 E 2nd Street

Long Beach, Los Angeles, CA, 90803