About this home

2500-06 East Spaulding Street is an updated 18-unit apartment property in Zaferia, a largely built-out submarket of East Long Beach. Built in 1962, the two-building, 14,866-square-foot property is offered at $4,995,000, or $277,500 per unit and $336 per square foot. All 18 units are updated two-bedroom, one-bath floor plans, and the building has fresh two-tone exterior paint and a central courtyard. In-place rents of $37,871 per month carry a 6.2% capitalization rate on $307,432 of net operating income, and the $40,500 per month the unit mix supports at market takes net operating income to $333,657 and the return to 6.7%. Eight enclosed garages, eight open parking spaces and two onsite laundry rooms give the building amenity depth uncommon at this size. RUBS, parking and pet income add $1,790 per month in ancillary revenue. Each unit is individually metered for electricity, giving residents direct control over utility costs and holding the owner-paid expense load down. Gated keypad access adds security and supports longterm tenant retention. Interiors feature stainless steel appliances, wood-look plank flooring, and ceiling fans, finishes that support durable occupancy and continued rent growth in one of Long Beach's most walkable neighborhoods.

Facts and features

Schools

• Lee Elementary School

  elementary · K-5 · 0.3 mi

  6

• Jefferson Leadership Academies School

  middle · 6-8 · 1.0 mi

  7

• Wilson High School

  high · 9-12 · 1.3 mi

  6

• Huntington Academy

  elementary · K-5 · 0.6 mi

• Willard Elementary School

  elementary · K-5 · 0.5 mi

  3

• Huntington Academy

  elementary · K-4 · 0.6 mi

Price history

• Oct 14, 2026 · Listed$4,995,000
• May 1, 2002 · Sold$1,100,000

Tax history

• 2025$33,895 tax · $2,565,690 assessed
• 2024$32,406 tax · $2,515,383 assessed
• 2023$31,856 tax · $2,417,709 assessed
• 2022$29,901 tax · $2,370,303 assessed
• 2021$29,289 tax · $2,323,828 assessed
• 2020$29,213 tax · $2,300,000 assessed
• 2019$10,400 tax · $728,360 assessed
• 2018$10,071 tax · $714,080 assessed

Home value

$3,799,190

• Quantarium$3,799,190

Where it is