
Long Beach, California 90805
This High-Potential Investment Opportunity is a Quadruplex listed at $1,100,000—positioned well below the $1,103,196 Fair Market Value by 0.29%. Featuring a Good Condition Rating with recent capital improvements like new windows and re-piping, the property offers significant rental upside with current rents trailing market averages. The four detached garages provide a strategic path for ADU Development, maximizing density and cash flow. This is a compelling acquisition for Buy-and-Hold Investors or Value-Add Developers seeking immediate yield.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 92 E Louise Subject | $1,100,000* List Price | 0 | 0 | 2,961 | $373 | - |
A 5220 Pacific Sold | $1,175,000 | 0 | 0 | 3,609 | $326 | 0.4 mi |
B 309 E Louise Sold | $826,500 | 0 | 0 | 2,562 | $323 | 0.3 mi |
C 1216 E 56th Sold | $1,300,000 | 0 | 0 | 3,906 | $333 | 1.0 mi |
D 5623 Lemon Avenue Sold | $880,000 | 0 | 0 | 2,054 | $428 | 0.9 mi |
* Subject property listed price vs sold prices of comps.
Property is move-in ready.
Although built in 1953, the property is well-maintained with significant recent capital improvements including new windows, recent re-piping, and exterior paint within the last 3 years. The interiors are functional and move-in ready, and the updates to major systems and the building envelope justify a Good rating despite the age of the structure.
Current rents average approximately $2,138 per month, which is nearly $400 below the market comparable average of $2,538, offering a clear path to increased cash flow.
The property has been well-maintained with significant upgrades including new windows, recent re-piping, and a new electronic security gate, reducing immediate capital expenditure needs.
The four detached garages provide a strategic opportunity for the buyer to convert existing structures into Accessory Dwelling Units (ADUs) to maximize density and rental income.
With two-bedroom units measuring only approximately 740 square feet, the living spaces are relatively small, which may limit appeal for tenants seeking more spacious accommodations.
Despite recent improvements, the 1953 construction date suggests that other core systems or structural elements may eventually require attention as the building continues to age.
92 E. Louise Street presents the opportunity to acquire a well- maintained four-unit multifamily property offering strong in-place cash flow, meaningful rental upside, and additional long-term value creation potential in North Long Beach. Built in 1953, the property consists entirely of two-bedroom/one- bath units, each approximately 740 square feet, providing a highly desirable and consistent unit mix with broad renter appeal. Current rents average approximately $2,138 per month, compared with nearby rent comparables averaging approximately $2,538 per month, demonstrating substantial embedded rental upside. The property has also benefited from several significant capital improvements, including new windows throughout the building, recent re-piping, exterior painting within the past three years, and a new electronic security gate. These improvements reduce near- term capital expenditure exposure while enhancing the property's overall functionality and tenant appeal. The property's four detached garages and additional surface spaces present the opportunity to add immediate income through parking fees or convert garages to ADUs for future additional rental income (buyer to verify).The offering compares favorably with recent four-unit sales in the surrounding market. At $275, 000 per unit, 92 E. Louise is priced below the comparable-set average of approximately $306,750 per unit, while offering a substantially stronger going-in yield than the comparable average cap rate of approximately 5.32% For investors seeking strong current yield with identifiable upside, 92 E. Louise Street offers a compelling combination of in-place cash flow, below-market rents, an all-two-bedroom unit mix, recent capital improvements, and potential future ADU development—all at a basis below recent comparable four-unit sales.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 0.0 | 4.9 |
| Baths | 0.0 | 4.4 |
| Square foot | 2,961 | 2,300.724 |
| Lot Size | 5,857 | 5,277.379 |
| Price | $1.10M | $1.24M |
| Price per sq ft | $371 | $513 |
| Built year | 1953 | 1949 |
| HOA | $0 | $0 |
| Days on market | 23 | 74 |
Aug 17, 2026
$1,100,000
Initial Listing
Aug 8, 2003
$415,000
Public Record