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$ 1,120,000
Est. payment | /mo
6,351 Sqft Lot
$ 1,120,000
Est. payment | /mo
6,351 Sqft Lot
Key Details
Property Type Multi-Family
Sub Type Quadruplex
Listing Status Active
Purchase Type For Sale
Subdivision Eastside (Es)
MLS Listing ID SB26103140
HOA Y/N No
Year Built 1942
Lot Size 6,351 Sqft
Property Sub-Type Quadruplex
Property Description
We are pleased to present 1140 Orizaba Avenue, a 4-unit multifamily investment opportunity located in the Eastside/Circle Area submarket of Long Beach (90804). The property features an excellent unit mix of (1) 3 Bed/2 Bath, (1) 2 Bed/1 Bath, and (2) 1 Bed/1 Bath units. The large 6,531 SF lot and efficient lot coverage provides ample on-site parking, which is especially valuable in this parking impacted submarket. The property is separately metered for electricity and gas, and is not subject to local rent control (only AB1482). Priced at a 4.50% CAP Rate and 14.51 GRM on current in-place income, with upside to an achievable 7.18% Market CAP Rate and 10.31 Market GRM, the offering presents a compelling value-add opportunity with strong day one cash flow and approximately 41% rental upside. The property is strategically located in a high-demand rental pocket with a near-perfect Walk Score of 99 (“Walker's Paradise”). Historically, walkable neighborhoods with authentic local character, limited housing supply, and established community amenities have demonstrated durable tenant demand and stronger long-term appreciation potential relative to more transient rental submarkets.
Location
State CA
County Los Angeles
Area 3 - Eastside, Circle Area
Interior
Fireplace No
Laundry None
Exterior
Pool None
Community Features Curbs, Street Lights, Sidewalks, Park
Private Pool No
Building
Lot Description 0-1 Unit/Acre, Level, Near Park, Yard
Story 1
Entry Level One
Sewer Public Sewer
Water Public
Level or Stories One
New Construction No
Others
Senior Community No
Tax ID 7259018010
Acceptable Financing Cash, Cash to New Loan, Conventional
Listing Terms Cash, Cash to New Loan, Conventional
Special Listing Condition Standard
Listed by Joshua Barut Lyon Stahl Investment Real Estate, Inc. 562-457-8126, DRE #01971720
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