
Long Beach, California 90806
This Quadruplex Residential Income Asset is a Prime Investment Opportunity, listed at $1,150,000—positioned well below the $1,194,217 Fair Market Value by 3%. This valuation gap offers $44,217 in Instant Equity. Featuring a Mint Condition Rating with modernized copper plumbing and ABS waste lines, this property minimizes immediate capital expenditures. With separately metered units and a dedicated laundry facility, it provides stable cash flow. This is an ideal acquisition for Buy-and-Hold Investors or Owner-Occupants seeking a turnkey, income-generating property in Long Beach.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 2472 Chestnut Avenue Subject | $1,150,000* List Price | 0 | 0 | 2,600 | $459 | - |
A 1941 Olive Avenue Sold | $1,157,000 | 0 | 0 | 2,554 | $453 | 1.0 mi |
B 932 E 23rd Street Sold | $838,000 | 0 | 0 | 1,900 | $441 | 0.9 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 new construction or fully renovated.
While originally built in 1931, the property has undergone a comprehensive recent renovation (likely <5 years) as evidenced by the new LVP flooring, fresh interior paint, and modern bathroom updates. Furthermore, the property features significant system upgrades including copper plumbing and updated ABS waste lines, meeting the criteria for mint condition with no immediate maintenance required.
The property features significant plumbing upgrades, including copper supply lines and ABS waste lines for all four units, reducing the risk of immediate capital expenditures for a vintage building.
Each unit offers a versatile floor plan with a separate den or dining area and access to rare off-street parking or garage space, providing a competitive edge in the Long Beach rental market.
All units are separately metered for utilities and the property includes a dedicated coin-operated laundry room, minimizing landlord overhead while providing additional income streams.
Originally constructed in 1931, the property may require ongoing specialized maintenance or future upgrades to electrical and insulation systems typical of vintage Spanish-style structures.
While the local elementary school is highly rated, the assigned high school has a lower performance rating (3/10), which could potentially impact long-term tenant retention for families.
Classic Spanish style, great character, and a smart income-property setup! This attractive four-unit property blends vintage Long Beach charm with several meaningful updates, including copper plumbing throughout with updated pressure lines, interior valves, and main water line, plus updated ABS waste lines serving all four units. Each unit offers a surprisingly spacious 1-bedroom floor plan with a separate den/dining area, giving tenants valuable extra space for a home office, dining room, or flexible living area. The rear unit gets an added bonus with its own private backyard. Practical features add to the appeal with all units separately metered for utilities, two garages, two additional off-street parking spaces, a dedicated laundry room with coin-operated machines, and automatic irrigation throughout the grounds. A sharp, character-filled fourplex with functional layouts, desirable tenant amenities, and plenty of long-term potential.
No exterior & parking available.
Grades K-5 • 0.0 mi
Grades K-5 • 0.7 mi
Grades K-5 • 0.7 mi
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 0.0 | 4.9 |
| Baths | 0.0 | 4.4 |
| Square foot | 2,600 | 2,300.724 |
| Lot Size | 6,479 | 5,277.379 |
| Price | $1.15M | $1.24M |
| Price per sq ft | $442 | $513 |
| Built year | 1931 | 1949 |
| HOA | $0 | $0 |
| Days on market | 13 | 74 |
Aug 27, 2026
$1,150,000
Initial Listing
Jul 14, 2022
$1,090,000
Public Record