
Long Beach, California 90813
This Value-Add Quadruplex Asset is listed at $799,000, positioned closely to its $774,544 Fair Market Value. Currently delivering a 6.24% Cap Rate and a 13.68 GRM, the property carries a Condition Rating of 5, indicating a clear path for forced appreciation through interior modernization and system updates. Situated in the heart of Downtown Long Beach with immediate access to the Metro A Line, the 1923-built structure offers a rare opportunity to reposition a multi-unit asset in a high-demand coastal rental market. This is an ideal acquisition for Buy-and-Hold Investors or Value-Add Developers.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1208 N Saint Marys Court Subject | $799,000* List Price | 0 | 0 | 2,144 | $333 | - |
A 1770 Walnut Sold | $950,000 | 0 | 0 | 2,600 | $365 | 1.0 mi |
B 909 Gaviota Sold | $720,000 | 0 | 0 | 1,760 | $409 | 0.9 mi |
C 1364 Cherry Sold | $970,000 | 0 | 0 | 2,544 | $381 | 0.7 mi |
D 920 Cerritos Avenue Sold | $985,000 | 0 | 0 | 2,315 | $425 | 0.5 mi |
E 1403 Elm Active | $799,000 List Price | 0 | 0 | 2,276 | $351 | 0.2 mi |
* Subject property listed price vs sold prices of comps.
Property is extensive renovation needed.
Built in 1923, this 100-year-old property is explicitly marketed as a 'value-add' opportunity requiring 'significant renovation' and 'repositioning.' The description indicates the interiors and systems likely haven't been updated in over 30 years, necessitating a full rehab to achieve market rents.
With a 6.24% cap rate and a 13.68 GRM at the current list price, this property offers strong immediate cash flow and competitive financial metrics for the Southern California multi-family market.
The property presents a prime opportunity for rental repositioning through strategic renovations, allowing investors to bridge the gap to market-rate rents and enhance long-term asset appreciation.
Situated near the Metro A Line and Downtown Long Beach, the property benefits from excellent transit connectivity and proximity to major employment centers, ensuring consistent tenant demand.
Built in 1923, the asset likely requires substantial capital expenditures to modernize systems and address deferred maintenance typical of century-old structures.
The relatively small 3,242 sqft lot for a four-unit building suggests limited outdoor space and potential challenges with on-site parking, which is a common concern for renters in this submarket.
Excellent opportunity to acquire a value-add four-unit investment property in the highly desirable Downtown Long Beach submarket. This multi-unit asset offers strong in-place income with significant upside potential through renovation and rental repositioning. The property is currently generating approximately $58,500 in annual gross income, reflecting a current Gross Rent Multiplier (GRM) of 13.68 at the current list price and a cap rate of approximately 6.24%. These metrics position the asset as an attractive opportunity for investors seeking both immediate cash flow and long-term appreciation. With strategic improvements, investors have the ability to reposition the asset, increase rents toward market levels, and further enhance overall returns. The property is ideal for investors pursuing a value-add strategy, long-term hold, or future refinance scenario. Located in the heart of Downtown Long Beach, the property benefits from strong tenant demand driven by proximity to major employment centers, coastal amenities, and a vibrant urban lifestyle. The area is known for its waterfront access, marina, Shoreline Village, The Pike Outlets, and a thriving dining and arts scene, making it a highly desirable location for renters. The property is also well-positioned for public transportation access, with the Metro A Line providing direct connectivity from Downtown Long Beach to Downtown Los Angeles and surrounding areas. Nearby transit hubs and multiple Long Beach Transit bus routes offer convenient local and regional access, enhancing tenant appeal and long-term rental demand. This is a rare opportunity to acquire a centrally located multi-unit property in one of Southern California’s most dynamic coastal markets, offering immediate income with strong upside potential through rental growth and property improvements. Buyer and buyers agent to conduct their own analysis.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 0.0 | 0.0 | 50% |
| Baths | 0.0 | 0.0 | 50% |
| Square foot | 2,144 | 2,455 | 41% |
| Lot Size | 3,242 | 5,839 | 14% |
| Price | $799.0K | $960.0K | 32% |
| Price per sq ft | $373 | $381 | 41% |
| Built year | 1923 | 1922 | 59% |
| HOA | $0 | $0 | 50% |
| Days on market | 44 | 192 | 5% |
May 3, 2026
$799,000
Initial Listing