
Long Beach, California 90813
This Multi-Unit Residential Income Property is a Strong Value Opportunity, listed at $1,150,000—positioned well below the $1,227,995 Fair Market Value by 6%. This valuation gap provides $77,995 in Instant Equity for the savvy buyer. Featuring a detached 3-bedroom front home and five rare parking spaces, the asset maintains a Fair Condition Rating with clear value-add potential. Located near 4th Street Retro Row, it perfectly balances coastal lifestyle with high rental demand. This is an ideal acquisition for Owner-Occupants looking to house-hack or Buy-and-Hold Investors.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 826 Gaviota Subject | $1,150,000* List Price | 0 | 0 | 3,119 | $394 | - |
A 911 E 10th Street Sold | $1,072,000 | 0 | 0 | 3,200 | $335 | 0.6 mi |
B 717 E 8th Sold | $1,020,125 | 0 | 0 | 3,432 | $297 | 0.7 mi |
C 1524 E Hellman St Sold | $1,099,000 | 0 | 0 | 2,366 | $464 | 0.2 mi |
D 817 E New York Sold | $1,150,000 | 0 | 0 | 3,076 | $374 | 0.9 mi |
E 920 Cerritos Avenue Sold | $985,000 | 0 | 0 | 2,315 | $425 | 0.4 mi |
F 1438 E 9th Street 2 Active | $875,000 List Price | 0 | 0 | 1,942 | $451 | 0.2 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1919, the property is described as well-maintained but shows signs of being outdated. Interior images reveal basic, older-style carpeting and simple fixtures, while the laundry area shows aged plumbing and utility setups. The listing's mention of 'value-add potential' and 'upside' typically indicates that kitchens and bathrooms are functional but have not undergone recent modern renovations, placing it in the fair category.
The detached 3-bedroom, 2-bathroom front unit offers the privacy of a single-family residence, providing an ideal opportunity for an owner-occupant to live on-site while the other three units subsidize the mortgage.
With five dedicated parking spaces including a carport and driveway, this property offers a rare and highly valuable amenity in the high-density Alamitos Beach area where street parking is extremely limited.
Situated near the vibrant 4th Street Retro Row and Downtown Long Beach, the property is in a high-demand rental market known for its walkability, coastal lifestyle, and strong long-term appreciation potential.
Built in 1919, the property may require significant ongoing maintenance and capital expenditures to address aging systems common in 100-plus-year-old structures.
Managing a four-unit property with a diverse unit mix requires more active oversight and tenant coordination compared to smaller residential investments or single-family rentals.
Exceptional investment opportunity just a short bike ride to the beach! This well-maintained 4-plex offers a versatile unit mix, strong income potential, and an ideal setup for both investors and owner-occupants. Located near Downtown and the vibrant 4th Street Retro Row, the property sits in a highly desirable rental area known for its coastal lifestyle, walkability, and charm. The front detached unit is a spacious 3-bedroom, 2-bath home, perfect for owner occupancy or commanding premium rent. With its generous layout and privacy from the other units, it lives like a single-family residence while still benefiting from the income of the additional units on site. Behind the front home are three additional units: two 2-bedroom, 1-bath units and one 1-bedroom, 1-bath unit, creating a highly rentable and desirable unit mix. One of the 2-bedroom units is currently vacant and ready for a new tenant, presenting an immediate opportunity to set market rent and increase overall income. The property features convenient on-site laundry for tenants and ample parking, including a carport, driveway parking for two vehicles, and additional spaces for a total of five parking spots — a rare and valuable amenity this close to the beach and downtown. This income property has a proven track record of solid rental performance, yet still offers room for upside through rental increases and value-add potential. Its prime location near shopping, dining, entertainment, and coastal attractions makes it highly appealing to long-term tenants and short-term renters alike. Whether you are looking to live in the front home while collecting rent from the other units, or seeking a strong addition to your investment portfolio, this property checks all the boxes: location, unit mix, parking, on-site amenities, and income growth potential. Opportunities like this in such a sought-after coastal neighborhood are rare. Don’t miss the chance to own a flexible, high-demand multi-unit property in one of the area’s most desirable locations.
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 | 3,119 | 2,544 | 67% |
| Lot Size | 5,915 | 5,915 | 50% |
| Price | $1.15M | $1.02M | 67% |
| Price per sq ft | $369 | $381 | 40% |
| Built year | 1919 | 1922 | 27% |
| HOA | $0 | $0 | 50% |
| Days on market | 78 | 164 | 13% |
Feb 3, 2026
$1,150,000
Initial Listing
Mar 11, 2002
$255,000
Public Record