1339 E Wesley Drive, Long Beach, California 90806, Long Beach, 90806 - 0 bed, 0 bath
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Long Beach, California 90806
This 5-unit multifamily asset presents a Prime Investment Opportunity with a List Price of $1,250,000—positioned well below the $1,288,310 Fair Market Value by 2%. This valuation gap provides $38,310 in Instant Equity. Generating a 9.1% gross yield via Section 8 tenants, the property offers guaranteed cash flow despite its Fair Condition Rating. With on-site parking and separately metered utilities ready for RUBS, this is a high-performing acquisition for Buy-and-Hold Investors or Portfolio Managers seeking stable Long Beach returns.
Property is moderate renovation needed.
The property consists of a century-old structure built in 1922. While it is a functional, income-generating asset, the listing explicitly identifies 'aging infrastructure' as a weakness. Exterior images show a well-maintained but dated appearance with older windows and security bars. In the absence of interior photos showing modern updates, the property is assessed as 'fair' due to its age and the likelihood of outdated major systems and finishes that have been maintained through regular upkeep rather than recent comprehensive renovation.
The property generates a robust ~9.1% gross yield with a gross annual rent of $114,000, backed by Section 8 tenants which ensures consistent, government-guaranteed cash flow.
In a high-density, parking-impacted area of Long Beach, the inclusion of on-site parking is a significant competitive advantage that enhances tenant retention and rental value.
All units are separately metered for gas and electricity with individual water heaters, providing an excellent opportunity for RUBS implementation to further reduce owner operating expenses.
Originally constructed in 1922, the century-old structure may require higher ongoing maintenance costs and potential capital expenditures for system upgrades compared to modern builds.
Managing a high-density multifamily asset with a heavy concentration of subsidized housing in an urban market typically requires more rigorous oversight and hands-on property management.
Introducing 1339 E Wesley Drive, a high-performing 5-unit multifamily asset in Eastside Long Beach featuring a front 1BD/1BA home and a rear 4-unit building with (4) 2BD/1BA units. The property is primarily occupied with Section 8 tenants, providing guaranteed, on-time income and consistent cash flow. In 2025, the property generated approximately $114,000 in gross annual rents, representing an attractive ~9.1% gross yield at the asking price. The property offers on-site parking, a rare and highly desirable amenity in a parking impacted area. All units are separately metered for gas and electricity, include individual water heaters, and the layout is well-suited for RUBS or utility bill-backs, offering additional expense reduction potential. A compelling cash-flow investment with built-in upside in a high-demand rental market.
No exterior & parking available.
Grades K-5 • 0.3 mi
Grades K-5 • 0.4 mi
Grades K-5 • 0.7 mi
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 | 2,904 | 4,330 | 33% |
| Lot Size | 6,581 | 6,375 | 67% |
| Price | $1.25M | $1.25M | 50% |
| Price per sq ft | $430 | $221 | 67% |
| Built year | 1922 | 1936 | 33% |
| HOA | $0 | $0 | 50% |
| Days on market | 19 | 86 | 33% |
Apr 3, 2026
$1,250,000
Initial Listing
Jan 18, 2011
$212,000
Public Record
Aug 22, 2001
$51,000
Public Record