6641 Hammond Avenue, Long Beach, California 90805, Long Beach, 90805 - 0 bed, 0 bath
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Long Beach, California 90805
This 4-unit High-Potential Investment Opportunity is listed at a List Price of $1,250,000, aligning with its $1,250,000 Fair Market Value. Featuring a Condition Rating of 4, this asset offers a stable 5.52% cap rate with a clear path to a 6.77% yield through rent growth. Key value-add drivers include unmonetized parking and potential ADU development. With a desirable 2-bed/1-bath unit mix, this property is an ideal acquisition for Buy-and-Hold Investors or Multifamily Developers seeking to scale their Long Beach portfolio.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 6641 Hammond Avenue Subject | $1,225,000* List Price | 0 | 0 | 3,000 | $321 | - |
A 6300 Paramount Boulevard N Sold | $1,050,000 | 0 | 0 | 3,310 | $317 | 0.4 mi |
B 6645 Hammond Avenue Active | $1,225,000 List Price | 0 | 0 | 3,000 | $408 | 0.0 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1959, this property is well over 20 years old and fits the 'dated' profile. While functional and currently generating income, the exterior shows significant cracking in the concrete parking areas and aged stucco. The presence of window AC units indicates a lack of modern central HVAC, and the listing's emphasis on 'market-rent upside' suggests that the interiors (kitchens/baths) and systems require updates to meet modern standards.
The property offers an attractive 5.52% current cap rate with a projected increase to 6.77% at market rents, providing immediate cash flow and a clear path to value appreciation.
Investors can increase income through unmonetized parking fees and potential ADU development, plus the rare option to acquire the adjacent parcel for a larger 8-unit footprint.
Consisting entirely of 2-bedroom/1-bathroom units with in-unit laundry hookups and individual water heaters, the property is well-positioned to attract and retain long-term tenants.
Built in 1959, the asset may require higher reserves for capital expenditures and maintenance compared to newer multifamily developments.
The 0.12-acre lot size may present challenges for ADU expansion regarding parking requirements and municipal site constraints.
6641 Hammond Avenue is a 4-unit multifamily investment property located in Long Beach, California. Built in 1959, the property consists entirely of two-bed/one-bath units, offering a desirable and efficient unit mix in a supply-constrained Southern California rental market. The adjacent 4-unit property at 6645 Hammond Avenue is also available, with each property offered at $1.225 million or both assets available together for $2.45 million, allowing investors to acquire either property individually or purchase a larger 8-unit footprint on contiguous parcels. The offering is priced at an attractive 5.66% cap rate on current rents, with projected upside to a 6.93% cap rate on market rents. This provides investors with immediate in-place yield and a clear path to improved performance through continued rent growth and more efficient income management. The property is situated on a 0.12-acre parcel and features approximately 3,000 net rentable square feet. Community amenities include in-unit laundry hookups, individual water heaters, and five surface parking spaces. The surface parking spaces are currently not separately monetized, providing a potential opportunity to create additional income through parking fees, subject to market demand and tenant considerations. In addition to existing income upside, the rear parking area may offer ground-up Accessory Dwelling Unit (ADU) development potential. A new owner may be able to explore the addition of one or more accessory dwelling units to increase rentable square footage and long-term income, subject to Long Beach requirements, site constraints, parking considerations, and approval from the appropriate municipal authorities. 6641 Hammond Avenue benefits from a central Long Beach location with convenient access to surrounding employment centers, retail corridors, and neighboring cities including Paramount and Bellflower. Residents are just 0.60 miles from a Target and Food 4 Less anchored retail center along Cherry Avenue, providing convenient access to everyday shopping and essential services. The property is also located approximately 2.5 miles from Lakewood Center, one of the area’s major shopping destinations and employment hubs, offering a wide range of retail, dining, and service-oriented amenities. Overall, 6641 Hammond Avenue represents an attractive Long Beach multifamily opportunity with strong in-place returns, market-rent upside, unmonetized parking income potential, and possible ADU upside.
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 | 3,000 | 1,613.5 | 75% |
| Lot Size | 5,227.2 | 4,949 | 60% |
| Price | $1.23M | $820.8K | 90% |
| Price per sq ft | $408 | $525 | 30% |
| Built year | 1959 | 1950 | 75% |
| HOA | $0 | $0 | 50% |
| Days on market | 36 | 215 | 5% |
Jun 3, 2026
$1,225,000
$1,250,000
-2% Price Drop
Initial Listing
May 8, 2026
$1,250,000
Initial Listing
Mar 19, 2021
$1,850,000
Public Record
Oct 20, 2011
$415,000
Public Record
Apr 25, 2001
$188,000
Public Record
Apr 25, 2001
$203,500
Public Record