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The Warburton Team Brokered By EXp

andreww@gowpnow.com +1(626) 630-2141

$2,450,000

Est. payment - /mo

7,339 Sqft Lot

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UPDATED:

Key Details

Property Type Apartment

Sub Type Apartment

Listing Status Active

Purchase Type For Sale

Subdivision Alamitos Beach (Ab)

MLS Listing ID PW26097344

HOA Y/N No

Year Built 1962

Lot Size 7,339 Sqft

Property Sub-Type Apartment

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 spaces—an 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 Beach's most sought-after rental markets.

Location

State CA

County Los Angeles

Area 4 - Downtown Area, Alamitos Beach

Interior

Heating Wall Furnace

Cooling None

Fireplaces Type None

Fireplace No

Laundry Laundry Room

Exterior

Parking Features Assigned

Garage Spaces 6.0

Garage Description 6.0

Pool None

Community Features Sidewalks

Total Parking Spaces 9

Private Pool No

Building

Lot Description Rectangular Lot

Story 2

Entry Level Two

Sewer Public Sewer

Water Public

Level or Stories Two

New Construction No

Others

Senior Community No

Tax ID 7266008024

Acceptable Financing Cash, Cash to New Loan

Listing Terms Cash, Cash to New Loan

Special Listing Condition Standard

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Listed by Spencer Pabst Pabst, Kinney & Associates 562-884-6875, DRE #01849377

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437 Bonito Long Beach, CA 90802