241 Lindero Avenue, Long Beach, California 90803, Long Beach, 90803 - 0 bed, 0 bath
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Long Beach, California 90803
This Coastal Quadruplex Asset is a Strong Value Opportunity, listed at $1,800,000—positioned well below the $1,985,447 Fair Market Value by 9%. This valuation gap offers $185,447 in Instant Equity. Boasting a Condition Score of 4, the property features a New Roof and a Walk Score of 94, just 0.3 miles from the beach near Lowell Elementary (9/10). With Five Parking Spaces and immediate rental upside, it is perfect for Buy-and-Hold Investors or Owner-Occupants.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 241 Lindero Avenue Subject | $1,800,000* List Price | 0 | 0 | 4,032 | $492 | - |
A 2718 E 2nd Active Under Contract | $2,200,000 List Price | 0 | 0 | 5,580 | $394 | 0.2 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1969 (55 years old), the property is well-maintained with a newer roof and scheduled maintenance. However, while one unit is recently renovated, the provided images show dated kitchens with electric coil stoves and basic bathrooms that exceed the 20-year threshold for modern standards, requiring further interior updates to the remaining units.
Elementary School: Lowell Elementary School (9/10).
Boasting a Walk Score of 94 and situated just 0.3 miles from the beach, this property offers exceptional access to Belmont Shore and Shoreline Village, ensuring high tenant demand and long-term desirability.
With one unit currently vacant and another recently renovated, investors have the immediate opportunity to lease at market rates, potentially increasing the cap rate from 4.8% to over 6%.
Built in 1969, the building may lack the modern energy efficiency and architectural appeal of newer developments, potentially requiring more frequent maintenance of aging infrastructure.
The current in-place cap rate of 4.8% may be considered modest for some investors, requiring immediate management action on the vacant unit to achieve more competitive returns.
Prime Long Beach income property located in the highly desirable Belmont Heights / Bluff Heights area, just off Broadway, offering an exceptional opportunity for investors seeking a coastal multifamily asset. With a Walk Score of 94 out of 100, this highly walkable fourplex is approximately 0.3 miles to the beach and conveniently close to Belmont Shore and Shoreline Village, providing easy access to dining, shopping, and entertainment. This well-maintained 4-unit property consists of approximately 4,032 square feet of living space on a 6,109 square foot lot and was built in 1969. The property features a strong unit mix of one spacious 3-bedroom, 2-bath unit and three 2-bedroom, 1-bath units, spread across two levels. One unit is currently vacant, offering immediate flexibility for an owner-occupant or the ability to lease at current market rent and increase cash flow. One of the units has recently been updated with a brand-new kitchen, flooring, and bathroom, enhancing overall tenant appeal. Recent improvements include a roof replacement completed within the past few years. The property is also scheduled for termite clearance and exterior painting, providing a refreshed and updated appearance for future ownership. The rear of the property features two 2-car garages, with each unit assigned one garage space, plus an additional dedicated parking space for the 3-bedroom unit, totaling five parking spaces. Ample street parking adds further convenience, which is a valuable feature in this highly sought-after Long Beach location. Priced at approximately $446 per square foot, this Long Beach multifamily property offers strong in-place income with upside potential. Based on current rents, the property is performing at approximately a 4.8% cap rate, with the ability to increase to roughly 6%+ once the vacant unit is leased at market rent. Ideal for investors searching for a fourplex near the beach, a Long Beach income property with strong rental demand, or a value-add multifamily opportunity in one of the most desirable coastal communities in Los Angeles County.
No exterior & parking available.
Grades K-5 • 0.4 mi
Grades K-5 • 0.5 mi
Grades K-5 • 1.0 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 | 4,032 | 2,261.5 | 96% |
| Lot Size | 6,109 | 3,058.5 | 81% |
| Price | $1.80M | $1.61M | 73% |
| Price per sq ft | $446 | $769 | 8% |
| Built year | 1969 | 1946 | 92% |
| HOA | $0 | $0 | 50% |
| Days on market | 0 | 135 | 4% |
May 5, 2026
$1,800,000
Initial Listing
May 26, 2009
$995,000
Public Record