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$ 2,650,000
Est. payment | /mo
11,338 SqFt
$ 2,650,000
Est. payment | /mo
11,338 SqFt
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 11,338 sqft
Price per Sqft $233
MLS Listing ID CRIV24250595
HOA Y/N No
Year Built 1915
Lot Size 0.341 Acres
Acres 0.34
Property Sub-Type Other
Property Description
***PRICE IMPROVEMENT***Prime Investment Opportunity with FULLY APPROVED PLANS RTI***Entitled 11-Unit Development with Existing Cash Flow in Long Beach. This is a rare and highly attractive opportunity to acquire a stabilized 6-unit multifamily property situated on an oversized lot already entitled for an additional 5 units—bringing the total future unit count to 11 units. Upon completion, the project is projected to be valued at over $6,000,000, making this a compelling investment with significant upside potential. 5 of 6 units fully renovated with brand-new systems throughout the property, ensuring minimal immediate capital expenditures. Unit Mix (Existing 6 Units): (4) 1 Bed / 1 Bath (1) 2 Bed / 1 Bath (1) 2 Bed / 2 Bath. Entitled 5 Additional Units: FULLY APPROVED PLANS RTI - (2) 3 Bed / 2 Bath units with grade-level parking (3) 4 Bed / 3 Bath townhome-style units, also with grade-level parking. Stabilized Gross Income: Projected to generate nearly $37,000 per month upon full build-out. Strong Cap Rate: Stabilized at a 6.75% Cap Rate on cost. Attractive GRM: Achieves a 10.74 GRM on cost, underscoring strong investment fundamentals. Projected end value exceeds $6,000,000, providing exceptional upside in one of Long Beach’s hottest rental markets. Conservatively underwritten
Location
State CA
County Los Angeles
Zoning LBR3
Interior
Fireplace No
Laundry Other
Building
Sewer Public Sewer
Water Public
New Construction No
Others
Tax ID 7266009015
© 2025 BEAR, CCAR, bridgeMLS. This information is deemed reliable but not verified or guaranteed. This information is being provided by the Bay East MLS or Contra Costa MLS or bridgeMLS. The listings presented here may or may not be listed by the Broker/Agent operating this website.
Listed by JENNIFER MENDOZA • EXP REALTY OF CALIFORNIA INC
GET MORE INFORMATION
Kenneth Jamaca
Managing Broker | REALTOR | License ID: 02080040
+1(925) 413-1849 | kenneth@jcastlegroup.com