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Armand Martin

armand.martin@exprealty.com +1(661) 221-5011

$ 3,697,000

Est. payment | -/mo

9 Beds

19 Baths

11,928 SqFt

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$ 3,697,000

Est. payment | -/mo

Save

9 Beds

19 Baths

11,928 SqFt

Key Details

Property Type Multi-Family

Sub Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 11,928 sqft

Price per Sqft $309

MLS Listing ID 26659109

Bedrooms 9

Year Built 1927

Lot Size 7,507 Sqft

Acres 0.1723

Property Sub-Type Multi-Family

Property Description

Priced to sell - 9.5 GRM and 6.4% CAP. EARN OVER A 9% CASH ON CASH RETURN AGAINST IN PLACE RENTS. 19 units located blocks from Downtown Long Beach in the Historic District. All units were completely redone in 2018/2019 and are beautifully remodeled. The interior hallways were redone as well and the Seller spent over $400K on CAP EX. New Water Heater in 2023 and over 100 feet of sewer line replaced. No work remains to be done. The building is a two-story walkup with no onsite parking, however, there are parking structures within blocks that tenants can rent from. The building also features onsite laundry in the basement. The building offers an excellent unit mix of Studio, 1 and 2 bed units. The property is Professionally Managed and very well maintained and features onsite laundry. It features a Walk score of 95 and is located just blocks from the bars and restaurants in Downtown Long Beach on Pine Ave. The building is master-metered for all utilities and a new owner could implement a RUBS program increasing the returns. Downtown Long Beach is in the middle of an $8BB Redevelopment with brand new Class A apartments and retail being developed within blocks of this location. Qualified Buyers can put down as little as 27%. Anduril Industries, a cutting-edge defense technology company specializing in AI applications announced that it is commencing a $1 billion redevelopment of land adjacent to the LB Airport. The project is planned to be completed in mid-2027 and is expected to create 5,500 new direct jobs at the site plus thousands of indirect construction and supply-chain service jobs. The Long Beach Airport is undergoing a $37MM remodel for the 2028 Olympics.

Location

State CA

County Los Angeles

Area Downtown Area, Alamitos Beach

Zoning LBR4N

Rooms

Other Rooms None

Interior

Heating Wall

Cooling None

Equipment None

Exterior

Parking Features None

Building

Story 3

Level or Stories Multi/Split

Others

Special Listing Condition Standard

The multiple listings information is provided by The MLSTM/CLAW from a copyrighted compilation of listings. The compilation of listings and each individual listing are ©2026 The MLSTM/CLAW. All Rights Reserved.

The information provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All properties are subject to prior sale or withdrawal. All information provided is deemed reliable but is not guaranteed accurate, and should be independently verified.

Listed by The Agency

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Armand Martin

+1(661) 221-5011

armand.martin@exprealty.com

444 Chestnut Ave Long Beach, CA 90802

Armand Martin

Key Details

Location

Rooms

Interior

Exterior

Building

Others

Nearby Locations

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444 Chestnut Ave