Deal numbers

A cap rate estimate is not available for this property yet. Ask Alex for a pro forma using comparable rent data.

Property details

Type

Apartment

Bedrooms

8

Building size

6,336 sqft

Lot size

6,504 sqft

Year built

1987

Stories

2

Garage spaces

12

Pool

None

Status

Active

Days on market

154

MLS #

241884996

About this property

8-unit apartment building in Long Beach's highly desirable Eastside/Rose Park submarket, offered at a 6.43% current cap rate. Built in 1987, the property features an all 2-bed/2-bath unit mix, a rare configuration in Long Beach's small multifamily market, with private balconies, dishwashers, and individual water heaters in every unit. Upstairs units feature 11+ ft vaulted ceilings. Fully occupied with stable in-place income and rent upside under AB 1482. 12 on-site garage spaces (1.5/unit), on-site laundry, new roof and exterior paint in 2025, and separately metered gas and electricity. Post-1980 vintage insulates buyers from costly retrofit exposure common in the city's older stock. Minutes from Retro Row, Belmont Shore, and the 405/605/22 freeways.

Location

1126 Raymond Avenue

Long Beach, Los Angeles, CA, 90804