About this home

Price Reduction! Rare opportunity to own a turnkey 10-unit, non-rent-controlled apartment building in North Long Beach, producing strong cash flow at an approximately 7% current cap rate from day one. The building was taken down to the framing in 2022 under permit and extensively rebuilt with a new roof, new electrical and plumbing systems, new HVAC, new windows, and an individual water heater for every unit. Interiors feature new cabinetry, flooring, recessed lighting, updated bathrooms, and stainless steel appliances, complemented by drought-tolerant landscaping. The unit mix consists of five 1 bed / 1 bath units and five 2 bed / 1 bath units, including three newly built ADUs. Gas and electricity are separately metered and paid directly by the tenants. Four of the ten units are master leased to a single organization, providing one rent payment each month and reduced property management demands. With every major building system substantially new, near-term capital expenditure requirements are minimal. As a non-LA-City rent-controlled asset, the property also allows significant 8.7% annual rent increases (5% + CPI) for future upside. The property is located roughly five miles from Douglas Park and the Long Beach Airport aerospace corridor, where Anduril, Rocket Lab, Relativity, and other major employers continue to expand, and offers convenient access to the 710, 91, and 405 freeways. A coastal-city rental market without coastal-city pricing.

Facts and features

Schools

• Addams Elementary School

  elementary · K-5 · 0.3 mi

  5

• Lindsey Academy

  middle · 6-8 · 0.7 mi

  3

• Jordan High School

  high · 9-12 · 1.2 mi

  3

• St. Athanasius Elementary School

  elementary · K-8 · 0.5 mi

• Dooley Elementary School

  elementary · K-5 · 0.6 mi

  4

• Spectrum Center- Long Beach Middle Market Street

  elementary · 2-12 · 0.7 mi

Price history

• Oct 27, 2026 · Price Changed$3,195,000
• Oct 6, 2026 · Listed$3,350,000
• Sep 16, 2026 · Listing Removed—
• Aug 19, 2026 · Listed$3,395,000
• Aug 14, 2026 · Listing Removed—
• Jul 2, 2026 · Listed$3,350,000
• Jun 26, 2026 · Listing Removed—
• May 12, 2026 · Price Changed$3,350,000

Tax history

• 2025$21,978 tax · $1,631,172 assessed
• 2024$20,997 tax · $1,599,189 assessed
• 2023$20,635 tax · $2,093,400 assessed
• 2022$17,774 tax · $1,377,000 assessed
• 2021$17,400 tax · $1,350,000 assessed
• 2020$13,412 tax · $1,016,516 assessed
• 2019$13,255 tax · $996,585 assessed
• 2018$12,878 tax · $977,045 assessed

Where it is