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$ 2,250,000
Est. payment | /mo
6,751 Sqft Lot
$ 2,250,000
Est. payment | /mo
6,751 Sqft Lot
Key Details
Property Type Apartment
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
Subdivision Eastside (Es)
MLS Listing ID PW26065434
HOA Y/N No
Year Built 1963
Lot Size 6,751 Sqft
Property Sub-Type Apartment
Property Description
1033 Orizaba Avenue is an excellent cash-flowing multifamily asset located in a prime Long Beach location just north of Rose Park. The property consists of eight units, including (2) 3-bedroom, 2-bath units and (6) 2-bedroom, 1-bath units, offering a versatile unit mix that appeals to a wide range of tenants—from individuals and roommates to families seeking additional space.
The property features four single-car garages, four additional surface parking spaces, a large outdoor deck above the garages, and a community laundry facility, providing desirable amenities that enhance tenant retention and livability. Additionally, the garage configuration presents a compelling value-add opportunity, as a new owner could explore the potential to convert the existing garages into up to two Accessory Dwelling Units (ADUs), further increasing income and maximizing the site's utility (buyer to verify).
The asset is currently generating strong income of $16,895 per month ($202,740 annually), delivering immediate and stable cash flow. There is also meaningful upside in the current rents, most notably within one of the 3-bedroom units, offering investors the opportunity to further enhance revenue over time.
1033 Orizaba Avenue presents investors with a rare opportunity to acquire a well-located, stabilized multifamily property with both strong in-place income and clear value-add potential in one of Long Beach's most established rental markets, supported by consistent demand and proximity to employment, retail, and everyday amenities.
The property features four single-car garages, four additional surface parking spaces, a large outdoor deck above the garages, and a community laundry facility, providing desirable amenities that enhance tenant retention and livability. Additionally, the garage configuration presents a compelling value-add opportunity, as a new owner could explore the potential to convert the existing garages into up to two Accessory Dwelling Units (ADUs), further increasing income and maximizing the site's utility (buyer to verify).
The asset is currently generating strong income of $16,895 per month ($202,740 annually), delivering immediate and stable cash flow. There is also meaningful upside in the current rents, most notably within one of the 3-bedroom units, offering investors the opportunity to further enhance revenue over time.
1033 Orizaba Avenue presents investors with a rare opportunity to acquire a well-located, stabilized multifamily property with both strong in-place income and clear value-add potential in one of Long Beach's most established rental markets, supported by consistent demand and proximity to employment, retail, and everyday amenities.
Location
State CA
County Los Angeles
Area 3 - Eastside, Circle Area
Interior
Fireplace No
Laundry Common Area
Exterior
Garage Spaces 4.0
Garage Description 4.0
Pool None
Community Features Sidewalks
Total Parking Spaces 4
Private Pool No
Building
Lot Description Rectangular Lot
Story 2
Sewer Public Sewer
Water Public
New Construction No
Others
Senior Community No
Tax ID 7258002018
Acceptable Financing Cash, Cash to New Loan
Listing Terms Cash, Cash to New Loan
Special Listing Condition Standard
Listed by Spencer Pabst Pabst, Kinney & Associates 562-884-6875, DRE #01849377
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