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Shantrece Thomas

shantrecethomas@gmail.com +1(904) 760-6560

$ 1,459,000

Est. payment | -/mo

8 Beds

8 Baths

3,440 SqFt

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$ 1,459,000

Est. payment | -/mo

Save

8 Beds

8 Baths

3,440 SqFt

Key Details

Property Type Multi-Family

Sub Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 3,440 sqft

Price per Sqft $424

MLS Listing ID 26853593

Bedrooms 8

Year Built 1922

Lot Size 7,534 Sqft

Acres 0.173

Property Sub-Type Multi-Family

Property Description

PRICED TO SELL - EARN AN 11.0% RETURN AGAINST IN PLACE RENTS. 9.6 GRM AND 6.8% CAP AGAINST IN PLACE RENTS. 8 Units on the Westside of Long Beach close to Downtown, subject to AB 1482 rent control - maximum annual increase of 5% + CPI (currently 8.7% total). 1 story, bungalow style units with a total of 5 structures on the lot. The property is professionally managed and features an excellent unit mix of studio, 1 and 2 bed units. The property has upside to a 9.1 GRM and 7.3% CAP. The property has parking for 3 cars in the rear of the building. All units have separate water heaters and the electrical subpanels were recently upgraded. The main electrical panel is a 200 AMP Siemens panel (Buyer to verify). All interiors are well maintained and feature laminate flooring, tile in the baths and updated kitchens. The property features a Walkscore of 86 and is a just a few minutes walk from Downtown and the Metro station. There has been over $8BB in redevelopment in Long Beach in the past 10 years including a ton of new class A apartments and restaurants. The property is also conveniently located close to the 710 Freeway providing access to employment throughout LA and Orange County. Excellent financing is available for qualified Buyers at 5.4% fixed for 5 years, with 25% down. 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 Long Beach Airport is also undergoing a $37MM remodel in preparation for the 2028 Olympic Games.

Location

State CA

County Los Angeles

Area Downtown Area, Alamitos Beach

Zoning LBPD10

Rooms

Other Rooms None

Interior

Heating Wall

Cooling None

Equipment None

Exterior

Parking Features Assigned

Garage Spaces 3.0

Building

Story 1

Level or Stories One

Others

Special Listing Condition Standard

The multiple listings information is provided by The MLSTM/CLAW from a copyrighted compilation of listings. The compilation of listings and each individual listing are ©2026 The MLSTM/CLAW. All Rights Reserved.

The information provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All properties are subject to prior sale or withdrawal. All information provided is deemed reliable but is not guaranteed accurate, and should be independently verified.

Listed by The Agency

NEARBY SCHOOLS & PROPERTIES

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(904) 760-6560

shantrecethomas@gmail.com

200 W FORSYTH STREET SUITE 1605, Jacksonville, Florida, 32202, United States

740 Daisy Ave Long Beach, CA 90813

Shantrece Thomas

Key Details

Location

Rooms

Interior

Exterior

Building

Others

NEARBY SCHOOLS & PROPERTIES

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740 Daisy Ave