764 Terraine Avenue, Long Beach, California 90804, Long Beach, 90804 - 0 bed, 0 bath
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Long Beach, California 90804
This triplex represents a High-Potential Investment Opportunity, listed at a List Price of $1,600,000—positioned well above the $1,345,428 Fair Market Value by -18%. While the property requires modernization, its Fair Condition Rating and location in the exclusive Alamitos Heights neighborhood ensure long-term demand. Featuring a private deck and rare multi-family zoning, this asset offers significant value-add potential through strategic renovations. This is an ideal acquisition for Buy-and-Hold Investors or Owner-Occupants looking to leverage house-hacking strategies in a premier residential market.
Property is moderate renovation needed.
Built in 1937, this property is significantly dated. While currently occupied and functional, the interior photos show older built-in cabinetry, aged carpeting, and a basic laundry area that likely haven't seen major renovations in over 20 years. It meets the criteria for 'Fair' as it is move-in ready for tenants but requires cosmetic updates and likely system evaluations to reach modern standards.
Located in Alamitos Heights, a neighborhood predominantly featuring single-family homes, this triplex represents a 'unicorn' asset with high scarcity and exceptional long-term value retention.
The multi-unit configuration provides a perfect opportunity for an owner-occupant to live in one unit while utilizing the rental income from the other two to significantly offset the mortgage.
The property offers the quiet charm and prestige of a premier Long Beach neighborhood, ensuring high tenant demand and lower vacancy rates compared to more dense multi-family zones.
Built in 1937, the property may require substantial capital improvements or modernization of major systems to meet contemporary standards and maximize rental yields.
With all units occupied and showings restricted to 'subject to inspection' offers, buyers must navigate higher initial uncertainty regarding the interior condition and tenant dynamics.
Truly a one-of-a-kind "unicorn" property! Tucked away in the highly sought-after neighborhood of Alamitos Heights—an area almost exclusively made up of single-family homes—lies a rare residential income gem. Whether you’re looking to house-hack by living in one unit and renting out the other two, or aiming to add a high-demand income producer to your portfolio, the potential here is endless. Enjoy the quiet charm of a premier Long Beach neighborhood while capitalizing on a multi-family investment that virtually never hits this market! Addresses include 764, 766, and 770 Terraine. All units are currently occupied -- PLEASE DO NOT DISTURB OCCUPANTS! Please submit offers subject to inspection.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 0.0 | 4.0 |
| Baths | 0.0 | 3.0 |
| Square foot | 2,914 | 2,100 |
| Lot Size | 6,513 | 5,077.5 |
| Price | $1.60M | $1.14M |
| Price per sq ft | $549 | $519 |
| Built year | 1937 | 1950 |
| HOA | $0 | $0 |
| Days on market | 3 | 68 |
Jul 20, 2026
$1,600,000
Initial Listing