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Jerrod Waller

jwaller@sdrealtyco.com +1(858) 822-8634

$2,450,000

Est. payment - /mo

4 Beds

4 Baths

7,340 Sqft Lot

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UPDATED:

Key Details

Property Type Multi-Family

Sub Type Res Income 2-4 Units

Listing Status Active

Purchase Type For Sale

Subdivision Alamitos Beach (Ab)

MLS Listing ID PW26097344

Bedrooms 4

Lot Size 7,340 Sqft

Property Sub-Type Res Income 2-4 Units

Property Description

Significant Price Improvement Premier Coastal Investment Opportunity! Pabst, Kinney & Associates is pleased to present a well-maintained 10-unit apartment community located in the highly desirable Alamitos Beach neighborhood of Long Beach. The property features an attractive unit mix of (8) one-bedroom/one-bath units and (2) two-bedroom/one-bath units, complemented by 6 single-car garages and 3 carport spacesan increasingly rare amenity in this premier coastal submarket. Offered for sale for the first time in over 36 years, the asset has recently benefited from strategic rental increases effective July 1, 2026, bringing total current gross income to $18,089 per month (inclusive of garage income). At the newly adjusted pricing, the property operates at an attractive 5.80% cap rate on current income, with a projected 7.30% market cap rate, offering clear and measurable upside through continued rental growth. Ideally situated just blocks from the beach, as well as a vibrant mix of dining, retail, and entertainment options, the property offers a highly walkable location with consistently strong tenant demand. Additionally, the existing garage structures may present a potential opportunity for ADU conversion (buyer to verify), providing a compelling value-add component to further enhance income and long-term returns. This is a rare opportunity to acquire a stabilized, pride-of-ownership asset at a newly reduced basis in one of Long Beachs most sought-after rental markets.

Location

State CA

County Los Angeles

Zoning Assessor

Direction 4th Street to Bonito Ave.

Interior

Fireplace No

Exterior

View Y/N No

Building

Story 2

Level or Stories 2

Others

Senior Community No

Tax ID 7266008024

Acceptable Financing Cash

Listing Terms Cash

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Listed by Spencer Pabst, DRE#01849377 Pabst, Kinney & Associates

NEARBY SCHOOL & BUSINESS

“If you're looking for a dedicated and knowledgeable real estate professional who will go above and beyond to help you achieve your goals, I'm here to serve you. Contact me today to learn more about how he can assist you with all your real estate needs.”

+1(858) 822-8634

jwaller@sdrealtyco.com

3555 5th Avenue 3rd Floor, San Diego, CA 92103

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437 Bonito Long Beach, CA 90802