3
See all 3 photos
$1,450,000
Est. payment /mo
10 Beds
4 Baths
Active
1403 Lemon Avenue Long Beach, CA 90813
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Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
Subdivision Poly High (Ph)
MLS Listing ID SR25121571
Bedrooms 10
Property Sub-Type Res Income 2-4 Units
Property Description
Welcome to 1403 Lemon Avenue, an outstanding multifamily investment located in the vibrant, rapidly appreciating area of Long Beach, California. This well-positioned five-unit income property offers investors a rare blend of strong in-place cash flow, potential for long-term value appreciation, and the benefit of 100% occupancyall in one of Southern Californias most dynamic coastal cities. Positioned on a 6,519 square foot lot, the property consists of five distinct units with a combined living area of approximately 2,700 square feet. The unit mix includes: One detached 4-bedroom, 2-bath front house, offering the feel and privacy of a single-family residence. One 4-bedroom, 1-bath unit, perfect for larger households or shared living scenarios. Three 2-bedroom, 1-bath units, ideal for small families, professionals, or long-term tenants. This unit diversity not only maximizes rental appeal across a broad demographic but also minimizes vacancy risk, ensuring a reliable income stream for the savvy investor. Strong Income with Upside Potential Currently operating at full occupancy, 1403 Lemon Ave delivers an impressive 8.76% cap ratea rare find in todays Southern California market. With below-market rents in place and room for value-add improvements, theres still significant upside potential for rental increases over time, particularly as the Long Beach rental market continues to strengthen. For investors seeking a stabilized asset with future growth potential, this property offers both: strong existing cash flow and long-term opportunity for rent optimization and appreciatio
Location
State CA
County Los Angeles
Zoning Public Rec
Direction East Anaheim & 10th Street
Interior
Fireplace No
Exterior
View Y/N No
Building
Story 1
Level or Stories 1
Others
Tax ID 7268015033
Listed by Milla Pariser Beverly and Company