$2,000,000
Est. payment /mo
3 Beds
2 Baths
5,662 Sqft Lot
New
927 Belmont Avenue Long Beach, CA 90804
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Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID OC26146571
Bedrooms 3
Lot Size 5,662 Sqft
Property Sub-Type Res Income 2-4 Units
Property Description
927 Belmont Avenue is a 7-unit multifamily property located in the desirable Eastside neighborhood of Long Beach, California. Built in 1947, 927 Belmont Avenue totals approximately 5,261 net rentable square feet and features a unit mix of 3 one-bed/one-bath units and 4 two-bed/one-bath units. The property has been well maintained by current ownership and benefits from functional property amenities including 4 single-car garages, 1 surface parking space, security/screen doors, and on-site laundry. The garages and laundry provide the property with ancillary income opportunities beyond base apartment rent, while the balanced unit mix appeals to a broad renter pool seeking well-located housing in East Long Beach. Through consistent annual rent increases, current ownership has maintained in-place rents near market levels, allowing the property to offer an attractive 5.59% cap rate on current income. Additional upside remains available through selective interior renovations as units naturally turn, giving a new owner the ability to further enhance finishes without relying on an aggressive repositioning strategy. The propertys location further supports long-term rental demand, with walkable access to Jefferson Leadership Academy, Woodrow Wilson High School, and Recreation Park. Its Eastside Long Beach setting also places residents near daily-needs retail along Anaheim Street, the Long Beach Traffic Circle, California State University, Long Beach, and Belmont Shores 2nd Street corridor.
Location
State CA
County Los Angeles
Zoning Assessor
Direction Cross Streets of Belmont Avenue & East 10th Street
Interior
Fireplace No
Exterior
View Y/N No
Building
Story 2
Level or Stories 2
Others
Senior Community No
Tax ID 7254018006
Acceptable Financing Cash, Conventional, Exchange
Listing Terms Cash, Conventional, Exchange
Listed by Tyler Leeson, DRE#01451551 Marcus & Millichap RE Invest
NEARBY SCHOOL & BUSINESS
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