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2626 E Anaheim Street, Long Beach, California 90804, Long Beach, 90804 - bed, bath

2626 E Anaheim Street, Long Beach, California 90804 home-pic-0
ACTIVE$1,695,000
2626 E Anaheim Street, Long Beach, California 90804
0Bed
0Bath
3,644Sqft
5,852Lot

Price Vs. Estimate

Estimation data not available

Key pros and cons

Top Pros:
Strong Investment Potential & Cash Flow: The property is a fully renovated 6-unit building with an impressive 5.4% current Cap Rate from day one. Preliminary plans to add 5 ADUs project an incredible 9% Cap Rate, significantly enhancing future income and value.
Top Cons:
Age of Original Structure: Despite extensive renovations, the building's original construction year of 1936 may still present potential long-term maintenance considerations for elements not explicitly mentioned as updated, such as the foundation.

Compared to the nearby listings

Price:$1.70M vs avg $1.81M ($-115,000)50%
Size:3,644 sqft vs avg 5,426 sqft50%
Price/sqft:$465 vs avg $36650%

More Insights

Built in 1936 (89 years old).
Condition: Despite being built in 1936, the property has undergone a 'complete restoration, down to every inch' and 'gut-level updating' with new copper plumbing, electrical sub-panels, HVAC systems, water heaters, and brand-new windows. The units feature new wood flooring, updated lighting fixtures, modern kitchens with new cabinets and countertops, and bathrooms with new vanities, modern fixtures, and sleek bathtubs. The images confirm a fresh, contemporary aesthetic with all components appearing new or virtually new, meeting current quality standards.
Year Built
1936
Close
-
List price
$1.7M
Original List price
$1.79M
Price/Sqft
$465
HOA
-
Days on market
-
Sold On
-
MLS number
PW25165266
Home ConditionExcellent
Features
View-

About this home

Price Reduction! Fully Renovated 6-unit building cash flowing at an amazing Current Cap Rate of 5.4% from day 1! Preliminary plans to add 5 ADUs to achieve an incredible 9% Cap Rate, 8.4 GRM, and only 203k/unit after taking into account all the construction costs (~546k assuming $200/SF). Attractive unit mix consisting of (4) well-designed One-Bedroom | One-Bathroom residential units plus (2) well-established commercial tenants (mini-market & flower-shop) both of which have been at this location for many years and have expressed interest for continued tenancy for years to come. The property is separately metered for gas and electrical utilities and each unit has its own individual water heater to further reduce operating costs. Large lot with 7 parking spaces in the back with future development & ADU potential. The property has seen a complete restoration, down to every inch. Overall systems were updated with new copper plumbing in units, new electrical sub-panels in units, new HVAC systems, new water heaters, and brand-new windows in each unit. The units have undergone gut-level updating with new wood flooring, updated lighting fixtures, and brand-new kitchen and bathrooms. In the kitchen, there are new cabinets and modern countertops. The bathrooms boast new vanities and modern fixtures along with sleek bathtubs. Located in the heart of the vibrant Zaferia Design District, this well-positioned asset offers unbeatable access to local staples such as Joe Jost’s, the Traffic Circle, Recreation Park, eclectic restaurants, bars, boutiques, galleries, and more. Located just minutes from the beach and central to the 405, 710 and 605 Freeways, offering tenants easy access to attractions and employers across the region. Long Beach is a popular rental market and population and employment hub with easy access to the beach, colleges (such as Cal State Long Beach), and major attractions including the Queen Mary, Aquarium of the Pacific, and more. Long Beach offers investors the opportunity to acquire assets in a coastal rental market with low vacancy rates without premium coastal pricing.

Nearby schools

5/10
Willard Elementary School
Public,•K-5•0.3mi
7/10
Lee Elementary School
Public,•K-5•0.4mi
6/10
Burbank Elementary School
Public,•K-5•0.7mi
4/10
Whittier Elementary School
Public,•K-5•0.8mi
6/10
Bryant Elementary School
Public,•K-5•0.9mi
7/10
Lincoln Elementary School
Public,•K-5•1.0mi
9/10
Fremont Elementary School
Public,•K-5•1.1mi
7/10
Jefferson Leadership Academies School
Public,•6-8•0.8mi
6/10
Franklin Classical Middle School
Public,•6-8•1.2mi
6/10
Wilson High School
Public,•9-12•1.1mi
6/10
Polytechnic High School
Public,•9-12•1.4mi

Price History

Date
Event
Price
02/28/25
Sold
$800,000
Condition Rating
Excellent
Despite being built in 1936, the property has undergone a 'complete restoration, down to every inch' and 'gut-level updating' with new copper plumbing, electrical sub-panels, HVAC systems, water heaters, and brand-new windows. The units feature new wood flooring, updated lighting fixtures, modern kitchens with new cabinets and countertops, and bathrooms with new vanities, modern fixtures, and sleek bathtubs. The images confirm a fresh, contemporary aesthetic with all components appearing new or virtually new, meeting current quality standards.
Pros & Cons

Pros

Strong Investment Potential & Cash Flow: The property is a fully renovated 6-unit building with an impressive 5.4% current Cap Rate from day one. Preliminary plans to add 5 ADUs project an incredible 9% Cap Rate, significantly enhancing future income and value.
Extensive Recent Renovation: The entire property has undergone a complete restoration, including new copper plumbing, electrical sub-panels, HVAC systems, water heaters, windows, wood flooring, lighting fixtures, and brand-new kitchens and bathrooms in all units.
Diverse & Stable Tenant Base: Features a desirable unit mix of four 1-bedroom residential units and two well-established commercial tenants (mini-market & flower-shop) with long-term tenancy interest, ensuring stable and diversified income streams.
Prime Location & Accessibility: Situated in the vibrant Zaferia Design District, offering unbeatable access to local amenities, minutes from the beach, and central to major freeways (405, 710, 605), appealing to a broad tenant pool.
Reduced Operating Costs: Units are separately metered for gas and electrical utilities, and each has its own individual water heater, effectively minimizing landlord-borne utility expenses.

Cons

Age of Original Structure: Despite extensive renovations, the building's original construction year of 1936 may still present potential long-term maintenance considerations for elements not explicitly mentioned as updated, such as the foundation.
ADU Development Requires Further Investment & Risk: While ADU potential is a strength, the plans are preliminary, meaning significant additional capital investment, permitting processes, and construction management will be required to realize the projected higher cap rate.
Limited Parking for Future Expansion: The property offers 7 parking spaces. While adequate for the current 6 units, adding 5 ADUs could strain parking availability, potentially impacting tenant satisfaction or requiring further investment in parking solutions.

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