6645 Hammond Avenue, Long Beach, California 90805, Long Beach, 90805 - 0 bed, 0 bath
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Long Beach, California 90805
This 4-unit Multifamily Asset represents a High-Potential Investment Opportunity, listed at a List Price of $1,250,000, which aligns with the $1,250,000 Fair Market Value. With a Condition Rating of 4, the property offers immediate cash flow at a 5.62% cap rate, with significant upside to 6.84% through rent optimization. Key value-add drivers include unmonetized parking and potential ADU Development. This is a stable, scalable acquisition ideal for Buy-and-Hold Investors or Multifamily Developers seeking to expand their footprint in the Long Beach market.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 6645 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 | 0.5 mi |
B 6641 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, the property is 65 years old, placing it well beyond the 20-year threshold for 'Fair' condition. While functional and currently income-producing, there is no mention of recent renovations to kitchens, bathrooms, or major systems (HVAC/Electric). The listing highlights 'upside to market rents,' confirming the units are likely dated and require modernization to meet current market standards.
The property offers significant upside through potential ground-up ADU development in the rear parking area and the opportunity to monetize five existing surface parking spaces.
Priced at an attractive 5.62% current cap rate, the asset provides immediate cash flow with a clear path to a 6.84% market cap rate through strategic rent growth.
The availability of the adjacent 4-unit property allows investors to acquire a contiguous 8-unit footprint, enhancing management efficiency and increasing market presence.
Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =5227, other record lot size in square feet = 5349.
Built in 1959, the property may require higher ongoing maintenance or capital expenditures for aging systems compared to newer multifamily developments.
The lack of modern common-area amenities beyond basic parking and laundry hookups may limit the property's ability to command premium rents in a competitive market.
6645 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 6641 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 5.76% cap rate on current rents, with projected upside to a 7.01% 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. 6645 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, 6645 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 | 1,535.5 | 78% |
| Lot Size | 5,227.2 | 4,768.5 | 61% |
| Price | $1.23M | $820.8K | 89% |
| Price per sq ft | $408 | $536 | 28% |
| Built year | 1959 | 1952 | 72% |
| HOA | $0 | $0 | 50% |
| Days on market | 29 | 227 | 6% |
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
Mar 17, 2005
$630,000
Public Record
Nov 13, 2002
$321,500
Public Record