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The Warburton Team Brokered By EXp

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

$1,600,000

Est. payment - /mo

7,501 Sqft Lot

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UPDATED:

Key Details

Property Type Apartment

Sub Type Apartment

Listing Status Active

Purchase Type For Sale

Subdivision Wrigley Area (Wr)

MLS Listing ID PW26122313

HOA Y/N No

Year Built 1956

Lot Size 7,501 Sqft

Property Sub-Type Apartment

Property Description

Well-Maintained 7-Unit Apartment Investment with Strong Cash Flow.

Exceptional opportunity to acquire a well-maintained 7-unit apartment property located in Long Beach's desirable South Wrigley neighborhood. Situated on a 7,500 square foot lot with approximately 4,919 square feet of improvements, this income-producing asset offers strong in-place cash flow, recent capital improvements, and immediate upside potential.

The property consists of two upstairs 1-bedroom/1-bath units, four downstairs 1-bedroom/1-bath units, and one spacious downstairs 2-bedroom/1-bath unit. One of the upstairs has been updated with new luxury vinyl plank flooring and refreshed interior finishes.

Several units are currently being utilized with additional rooms beyond their original layouts. Four of the downstairs 1-bedroom units are being used as 2-bedroom units, while the larger downstairs unit is currently utilized as a 3-bedroom unit.

Ownership has completed numerous capital improvements, including electrical service upgrades in 2025, copper repiping of the upstairs units, replacement of gas lines, installation of a copper main water supply line, and ongoing roof maintenance. Each unit is individually metered for gas and electricity, helping reduce owner-paid utility expenses and improve operating efficiency.

The property currently generates approximately $13,075 per month in gross rental income and is offered at an attractive 6.4% cap rate and 10.20 gross rent multiplier (GRM) based on current operations. Investors may benefit from favorable financing options, with the property potentially qualifying for financing with approximately 25% down.

Additional amenities include four garages, on-site parking, and a desirable courtyard-style layout that enhances tenant appeal. Conveniently located near Pacific Coast Highway, Downtown Long Beach, public transportation, shopping, dining, and major employment centers, this property is well-positioned to benefit from continued rental demand and long-term appreciation.

This is a rare opportunity to acquire a stabilized multifamily investment offering strong current returns, recent capital improvements, vacancy upside, and significant long-term growth potential.

Location

State CA

County Los Angeles

Area 5 - Wrigley Area

Interior

Heating Floor Furnace

Cooling None

Fireplaces Type None

Fireplace No

Appliance Dryer, Washer

Laundry Common Area

Exterior

Garage Spaces 4.0

Garage Description 4.0

Fence Good Condition, Partial, Wrought Iron

Pool None

Community Features Curbs

Utilities Available Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected

View Y/N No

View None

Roof Type Composition

Accessibility None

Total Parking Spaces 4

Private Pool No

Building

Lot Description 0-1 Unit/Acre

Story 2

Entry Level Two

Foundation Concrete Perimeter

Sewer Public Sewer

Water Public

Level or Stories Two

New Construction No

Others

Senior Community No

Tax ID 7209028008

Acceptable Financing Cash to New Loan

Listing Terms Cash to New Loan

Special Listing Condition Standard

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Listed by Juan Huizar Sage Real Estate Group, Inc. 562-307-0838, DRE #01417642

NEARBY SCHOOL & BUSINESS

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