
Long Beach, California 90813
This Turnkey Multi-Unit Asset is a Strong Value Opportunity, listed at $974,555—positioned well below the $889,293 Fair Market Value by 9%. Featuring a remodeled 2-bedroom home and a newly completed 1-bedroom ADU, the property offers immediate rental income or multigenerational flexibility. With its 7,500 SF lot in a PD-30 Opportunity Zone and prior approval for five units, it provides significant long-term development upside. This is an ideal acquisition for Buy-and-Hold Investors or Owner-Occupants seeking a high-utility, income-generating property in Long Beach.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1028 E 10th Subject | $974,555* List Price | 3 | 2 | 1,200 | $741 | - |
A 1477 Lemon Avenue Sold | $760,000 | 3 | 2 | 1,100 | $691 | 0.5 mi |
B 733 Walnut Sold | $790,000 | 2 | 1 | 1,082 | $730 | 0.5 mi |
C 1749 Lewis Avenue Active | $874,999 List Price | 3 | 2 | 1,256 | $697 | 0.7 mi |
* Subject property listed price vs sold prices of comps.
Property is new construction or fully renovated.
Although originally built in 1909, the property has undergone an extensive recent renovation (under 5 years) and includes a newly completed ADU. The interiors feature modern shaker-style kitchens with stainless steel appliances, updated bathrooms with contemporary vanities, new flooring, recessed lighting, and a modern electrical panel. The ADU includes a new mini-split HVAC system, making the entire property turnkey.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 7529, living area = 1200.
The property features a legal, newly completed 1-bedroom ADU with a separate entrance and private utilities, offering immediate rental income or multigenerational living flexibility.
Situated on an oversized 7,500 SF lot within an Opportunity Zone and PD-30 Downtown Plan, the site has previous approval for a 5-unit condominium project, providing massive long-term value.
Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 3, other record bedroom count = 2.
Originally built in 1909, the property may have underlying aging structural or utility components typical of century-old homes that recent cosmetic remodels might not fully address.
With only 1,200 total square feet split between two residences, the interior living space is relatively small compared to the overall lot size and price point.
A rare opportunity combining turnkey living, rental income potential, and future development upside on an approximately 7,500 SF lot in Long Beach. The property features a beautifully remodeled 2-bedroom, 1-bath primary residence plus a newly completed, legal 1-bedroom, 1-bath attached ADU with its own completely separate entrance and no interior connection between the units. The main residence has been extensively updated and offers an inviting open-concept living, dining and kitchen layout, updated kitchen and bath, newer flooring and finishes, and a functional bedroom arrangement that includes direct bathroom access from one bedroom. The separate ADU was thoughtfully designed to maximize its approximately 384 SF footprint and includes a full kitchen, full bath, dedicated laundry hookup, mini-split heating and air conditioning, and its own private exterior entrance. Refrigerators and ranges are included in both residences, and each unit has its own stackable laundry hookup. Live in the primary residence and rent the ADU, occupy the ADU while leasing the larger home, or operate both as rentals - the property offers exceptional flexibility for an owner-occupant, multigenerational household, or investor. Outside, the unusually deep lot provides a two-car carport plus extensive additional space for parking, vehicles, storage, outdoor use, or future development. The property is located within Long Beach's PD-30 Downtown Plan area and a designated Opportunity Zone. Importantly, the property previously received City approval for development of five condominium units, demonstrating its substantial redevelopment potential. Selling agent and buyer to independently verify current zoning, development standards, entitlements and Opportunity Zone benefits. The ADU is awaiting final inspection, with final City sign-off to be completed prior to close of escrow. A unique combination of a move-in-ready home, independent second residence, abundant land and long-term development optionality.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 3.0 | 3.0 |
| Baths | 2.0 | 2.0 |
| Square foot | 1,200 | 1,519.995 |
| Lot Size | 7,529 | 5,807.524 |
| Price | $974.6K | $1.03M |
| Price per sq ft | $812 | $728 |
| Built year | 1909 | 1948 |
| HOA | $0 | $259 |
| Days on market | 2 | 48 |
Sep 7, 2026
$974,555
Initial Listing
Dec 27, 2018
$202,500
Public Record
Dec 21, 2017
$405,000
Public Record