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$ 1,600,000
Est. payment | /mo
5 Beds
4 Baths
7,502 Sqft Lot
$ 1,600,000
Est. payment | /mo
5 Beds
4 Baths
7,502 Sqft Lot
Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
Subdivision Wrigley Area (Wr)
MLS Listing ID PW26122313
Bedrooms 5
Lot Size 7,502 Sqft
Property Sub-Type Res Income 2-4 Units
Property Description
Well-Maintained 7-Unit Apartment Investment with Strong Cash Flow. Exceptional opportunity to acquire a well-maintained 7-unit apartment property located in Long Beach's desirable South Wrigley neighborhood. Situated on a 7,500 square foot lot with approximately 4,919 square feet of improvements, this income-producing asset offers strong in-place cash flow, recent capital improvements, and immediate upside potential. The property consists of two upstairs 1-bedroom/1-bath units, four downstairs 1-bedroom/1-bath units, and one spacious downstairs 2-bedroom/1-bath unit. One upstairs unit is currently vacant and has been updated with new luxury vinyl plank flooring and refreshed interior finishes, providing immediate rental upside for a new owner. Seller believes a second unit may also be delivered vacant at closing, creating additional flexibility for lease-up or renovation strategies. Several units are currently being utilized with additional rooms beyond their original layouts. Four of the downstairs 1-bedroom units are being used as 2-bedroom units, while the larger downstairs unit is currently utilized as a 3-bedroom unit. Ownership has completed numerous capital improvements, including electrical service upgrades in 2025, copper repiping of the upstairs units, replacement of gas lines, installation of a copper main water supply line, and ongoing roof maintenance. Each unit is individually metered for gas and electricity, helping reduce owner-paid utility expenses and improve operating efficiency. The property currently generates approximately $13,075 per month in gross re
Location
State CA
County Los Angeles
Zoning Assessor
Direction North of PCH, between Magnolia Ave and Chestnut Ave
Interior
Heating Floor Furnace
Fireplace No
Exterior
Fence Partial
View Y/N No
Roof Type Composition
Building
Story 2
Level or Stories 2
Others
Senior Community No
Tax ID 7209028008
Listed by Juan Huizar, DRE#01417642 Sage Real Estate Group, Inc.
NEARBY SCHOOL & BUSINESS
8322 Clairemont Mesa Blvd Suite 206, Diego, California, 92111, United States