1921 E Washington, Long Beach, California 90805, Long Beach, 90805 - 0 bed, 0 bath
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Long Beach, California 90805
This High-Yield Multi-Unit Asset represents a High-Potential Investment Opportunity with a List Price of $1,150,000. While the $1,004,866 Fair Market Value reflects the area's baseline, the property’s exceptional 7.07% Current Cap Rate justifies the investment. The configuration includes a detached 4-bedroom house and three 1-bedroom units, all maintaining a Fair Condition Rating. With individual garages and a sub-3% vacancy history, this asset offers immediate cash flow and low overhead. It is a strategic acquisition for Buy-and-Hold Investors or Owner-Occupants.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1921 E Washington Subject | $1,150,000* List Price | 0 | 0 | 3,184 | $316 | - |
A 6001 California Avenue Sold | $1,000,000 | 0 | 0 | 3,115 | $321 | 0.9 mi |
B 6140 Orange Avenue Active | $1,100,000 List Price | 7 | 4 | 3,335 | $330 | 0.9 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1949, this fourplex is in fair condition, showing a blend of original features and partial modern updates. While some units have been refreshed with newer laminate flooring and paint, the kitchens and bathrooms remain largely dated with older cabinetry, tile countertops, and aged fixtures. The property is functional and well-maintained for its age, but the overall infrastructure and aesthetic reflect its mid-century origins without a comprehensive recent renovation.
With a current cap rate of 7.07% and a market cap rate potential of 8.47%, this property offers exceptional cash flow and strong returns for an income-focused investor.
The configuration of a large detached 4-bedroom house paired with three 1-bedroom units and individual garages provides a versatile rental strategy that appeals to a wide range of tenant profiles.
The property boasts a historically low vacancy rate of under 3% and features tenant-paid utilities, significantly reducing operational expenses and management risk.
The seller's firm stance on the listing price limits negotiation leverage for buyers, which may be a hurdle if appraisal or inspection issues arise.
Built in 1949, the property may require ongoing capital expenditures for maintenance and modernization of the older systems and unrenovated units to achieve top market rents.
Perfect for investors with a current cap rate of 7.07% and GRM of 12.81 and a market cap rate of 8.47% and GRM of 10.86. Located on a quiet side street off one of the major thoroughfares in North Long Beach providing a great location and ease of commute for tenants. The property is close to local bus stops, multiple parks, and shopping centers, as well as The Michelle Obama Library. The property sits within 2 miles of both the 91 and 710 freeways. The property is also only a short drive to both downtown Long Beach and the Beach. This fourplex consists of a front building made up of three 1 Bed 1 Bath units each with a garage, and a rear building which is a detached 4 Bed 2 Bath house. The rear house sits at ~1728 sqft. While the front building units average ~485 sqft. The tenants pay their own utilities, keeping the utilities low. This building is currently fully occupied and has had less than 3% vacancy over the last 3 years. Two of the units have been partially renovated during the most recent tenant transitions. This property also has storage and laundry room opportunities for potential sellers to build out. Price $1,150,000 Price/Unit $287,500 Price/sqft $361 Current Cap Rate 7.07% Market Cap Rate 8.47% Current GRM 12.81 Market GRM 10.86. Property is priced to sell, seller is firm on price.
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 | 3,184 | 1,743 | 88% |
| Lot Size | 5,600 | 5,384 | 52% |
| Price | $1.15M | $845.0K | 84% |
| Price per sq ft | $361 | $516 | 20% |
| Built year | 1949 | 1948 | 52% |
| HOA | $0 | $0 | 50% |
| Days on market | 32 | 210 | 4% |
Mar 21, 2026
$1,150,000
Initial Listing
May 24, 2024
$170,000
Public Record
Nov 19, 2021
$840,000
Public Record