
Long Beach, California 90806
This quadruplex presents a Strong Value Opportunity with a List Price of $1,100,000—positioned well below the $1,200,581 Fair Market Value by 8%. This valuation gap offers $100,581 in Instant Equity. Featuring a Condition Rating of 4, the property offers significant upside through potential ADU conversions of the four individual garages. Located near Lafayette Elementary (8/10), this asset is ideal for Buy-and-Hold Investors or Owner-Occupants seeking a stable, income-generating multifamily asset in a high-demand Long Beach rental market.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 2441 Cedar Avenue Subject | $1,100,000* List Price | 0 | 0 | 2,945 | $408 | - |
A 932 E 23rd Street Sold | $838,000 | 4 | 3 | 1,900 | $441 | 0.8 mi |
B 932 E 23rd Street Sold | $838,000 | 0 | 0 | 1,900 | $441 | 0.8 mi |
C 2905 Magnolia Pending | $1,039,000 List Price | 0 | 0 | 2,393 | $434 | 0.6 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1940, the property is well-maintained but dated. While some units feature newer laminate flooring, the bathrooms show older tile work and vanities, and the systems are dated, utilizing wall heaters and window AC units rather than central HVAC.
The property features four individual garages, offering a significant value-add opportunity to increase density and rental income through Accessory Dwelling Unit (ADU) conversions.
Situated just 0.04 miles from Lafayette Elementary School (rated 8/10), the property is ideally positioned to attract and retain family tenants seeking quality public education.
The quadruplex consists of side-by-side residences rather than stacked units, providing tenants with enhanced privacy and reducing noise complaints, which typically leads to longer lease terms.
Built in 1940, the property may require substantial capital expenditure for deferred maintenance or upgrades to aging electrical, plumbing, and mechanical systems.
While elementary options are strong, the local high school carries a low rating (3/10), which may limit the property's appeal to families with older children and impact long-term tenant stability.
Introducing an excellent investment opportunity in the heart of Long Beach, this well-maintained four-unit multifamily property offers a desirable unit mix, functional layouts, and strong tenant appeal. The property features four side-by-side residences with individual garages, providing a sought-after amenity in today's rental market (or convert to ADUs?). The unit mix consists of one two-bedroom, one-bathroom residence and three one-bedroom, one-bathroom residences. Easily managed property so an opportunity to increase cash flow. Ideally located in Long Beach, the property is just minutes from shopping, dining, local beaches, major employment centers, and convenient freeway access. With Long Beach continuing to attract renters through its coastal lifestyle and diverse economy, this property presents an attractive opportunity for investors seeking a stable, well-located multifamily asset with long-term upside.
No exterior & parking available.
Grades K-5 • 0.0 mi
Grades K-5 • 0.6 mi
Grades K-5 • 0.8 mi
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 0.0 | 4.9 |
| Baths | 0.0 | 4.4 |
| Square foot | 2,945 | 2,300.724 |
| Lot Size | 6,630 | 5,277.379 |
| Price | $1.10M | $1.24M |
| Price per sq ft | $374 | $513 |
| Built year | 1940 | 1949 |
| HOA | $0 | $0 |
| Days on market | 33 | 74 |
Aug 7, 2026
$1,100,000
Initial Listing
Jan 23, 2012
$415,000
Public Record
Sep 11, 1997
$169,000
Public Record