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$ 1,450,000
Est. payment | /mo
2,700 SqFt
$ 1,450,000
Est. payment | /mo
2,700 SqFt
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 2,700 sqft
Price per Sqft $537
MLS Listing ID CRSR25121571
HOA Y/N No
Year Built 1924
Lot Size 6,603 Sqft
Acres 0.15
Property Sub-Type Other
Property Description
Welcome to 1403 Lemon Avenue, an outstanding multifamily investment located in the vibrant, rapidly appreciating area of Long Beach, California. This well-positioned five-unit income property offers investors a rare blend of strong in-place cash flow, potential for long-term value appreciation, and the benefit of 100% occupancy—all in one of Southern California’s most dynamic coastal cities. Positioned on a 6,519 square foot lot, the property consists of five distinct units with a combined living area of approximately 2,700 square feet. The unit mix includes: • One detached 4-bedroom, 2-bath front house, offering the feel and privacy of a single-family residence. • One 4-bedroom, 1-bath unit, perfect for larger households or shared living scenarios. • Three 2-bedroom, 1-bath units, ideal for small families, professionals, or long-term tenants. This unit diversity not only maximizes rental appeal across a broad demographic but also minimizes vacancy risk, ensuring a reliable income stream for the savvy investor. Strong Income with Upside Potential Currently operating at full occupancy, 1403 Lemon Ave delivers an impressive 8.76% cap rate—a rare find in today’s Southern California market. With below-market rents in place and room for value-add improvements, there’s
Location
State CA
County Los Angeles
Zoning LBR1
Interior
Fireplace No
Laundry No Hookups
Building
Lot Description Other, Front Yard
New Construction No
Others
Tax ID 7268015033
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Listed by Milla Pariser • Beverly and Company
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "