Significant Price Improvement – Compelling Coastal Investment Opportunity!
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… Read More coastal submarket.
Offered for sale for the first time in 36 years, the property now benefits from recently implemented rental increases effective July 1, 2026, bringing total monthly income to $18,089 (including garage income). At the new pricing, the property operates at an attractive 5.71% cap rate on current income, with clear potential for additional upside through continued rent growth.
Situated just blocks from the beach, dining, and retail, the property offers a highly walkable location with strong and consistent tenant demand. The existing garage structures may also present a potential opportunity for ADU conversion (buyer to verify), allowing a future owner to further enhance income and overall returns.
This is a rare opportunity to acquire a stabilized, pride-of-ownership asset at a newly adjusted basis in one of Long Beach’s most sought-after rental markets. Read Less
Property listed by Pabst, Kinney & Associates, Spencer Pabst 562-884-6875
Listing Snapshot
Days Online
50
Last Updated
Property Type
Apartment
Lot Size
0.17 Acres
Year Built
1962
MLS Number
PW26097344
Additional Details
Building
Built in 1962, 1 building, 2 stories, Levels: Two, Entry level: 1, Entry location: 1
Community
Sidewalks
Cooling
None
Fireplaces
None
Garage
6 spaces
Heating
WallFurnace
Income
Gross Income: $18,139, Gross ScheduledIncome: $217,668, Net Operating Income: $217,668
Laundry
LaundryRoom
Lot
0.1685 acres, RectangularLot
Parking
3 open parking spaces, 9 total parking spaces, Assigned
Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
Confirm your time
Fill in your details and we will contact you to confirm a time.
