$2,289,000
About this home
HIGHLY COVETED 1980'S CONSTRUCTION - PRICED AT 10.3 GRM AND 6.6% CAP ON MARKET RENTS. 9 units in Long Beach built in 1987, NOT subject to rent control, only subject to AB 1482 rent control - maximum annual increase of 5% + CPI (currently 8.7% total). Located in a great location on the East side. Long Beach has undergone major redevelopment with over $8BB of new projects in the past few years. The property is professionally managed and well maintained with onsite laundry. It also features onsite parking for every unit - a rarity in parking impacted Long Beach. The property features an excellent unit mix of 1 and 2 bed units with rents approximately 10% below market. Built in 1987 this property features copper plumbing and modern electrical. Qualified Buyers can obtain a new loan fixed at 5.40% for 5 years, Interest Only. Anduril Industries, a cutting-edge defense technology company specializing in AI applications announced that it is commencing a $1 billion redevelopment of land adjacent to the LB Airport. The project is planned to be completed in mid-2027 and is expected to create 5,500 new direct jobs at the site plus thousands of indirect construction and supply-chain service jobs. The City also approved a $38MM revamp of Long Beach Airport in preperation for the 2028 Olympic games.
Facts & features
- Bedrooms
- 16
- Bathrooms
- 0 full, 0 half
- Living area
- 7,128 sq ft
- Heating
- Wall Furnace
- Cooling
- None
- Levels
- Two
- Lot size
- 0.149 acres (6,495 sq ft)
- Year built
- 1987
- Parking
- Assigned
- Parking spaces
- 12
- Area
- 3 - Eastside, Circle Area
- County
- Los Angeles
- Status
- Active
- Property type
- Residential Income
- Days on market
- 69
- Listed
- 2026-04-28
- Original price
- $2,600,000
- Parcel #
- 7260032018
- MLS #
- 26826345
