About this home

Well-Maintained 7-Unit Apartment Investment with Strong Cash Flow. Exceptional opportunity to acquire a well-maintained 7-unit apartment property located in Long Beach's desirable South Wrigley neighborhood. Situated on a 7,500 square foot lot with approximately 4,919 square feet of improvements, this income-producing asset offers strong in-place cash flow, recent capital improvements, and immediate upside potential. The property consists of two upstairs 1-bedroom/1-bath units, four downstairs 1-bedroom/1-bath units, and one spacious downstairs 2-bedroom/1-bath unit. One of the upstairs has been updated with new luxury vinyl plank flooring and refreshed interior finishes. Several units are currently being utilized with additional rooms beyond their original layouts. Four of the downstairs 1-bedroom units are being used as 2-bedroom units, while the larger downstairs unit is currently utilized as a 3-bedroom unit. Ownership has completed numerous capital improvements, including electrical service upgrades in 2025, copper repiping of the upstairs units, replacement of gas lines, installation of a copper main water supply line, and ongoing roof maintenance. Each unit is individually metered for gas and electricity, helping reduce owner-paid utility expenses and improve operating efficiency. The property currently generates approximately $13,075 per month in gross rental income and is offered at an attractive 6.4% cap rate and 10.20 gross rent multiplier (GRM) based on current operations. Investors may benefit from favorable financing options, with the property potentially qualifying for financing with approximately 25% down. Additional amenities include four garages, on-site parking, and a desirable courtyard-style layout that enhances tenant appeal. Conveniently located near Pacific Coast Highway, Downtown Long Beach, public transportation, shopping, dining, and major employment centers, this property is well-positioned to benefit from continued rental demand and long-term appreciation. This is a rare opportunity to acquire a stabilized multifamily investment offering strong current returns, recent capital improvements, vacancy upside, and significant long-term growth potential.

Facts and features

Schools

• Washington Middle School

  middle · 6-8 · 0.5 mi

  4

• Lafayette Elementary School

  elementary · K-5 · 0.7 mi

  5

• Cabrillo High School

  high · 9-12 · 1.1 mi

  3

• Regency High School

  middle · 8-12 · 0.5 mi

• Educational Partnership High School

  high · 9-12 · 0.2 mi

  3

• Intellectual Virtues Academy

  high · 9-12 · 0.5 mi

  5

Price history

• Oct 6, 2026 · Price Changed$1,550,000
• Jun 9, 2026 · Listed$1,600,000
• May 9, 2014 · Listing Removed$845
• Apr 16, 2014 · Listed For Rent$845
• Apr 16, 2014 · Listing Removed$945
• Apr 10, 2014 · Listing Removed$845
• Mar 28, 2014 · Listed For Rent$845
• Mar 28, 2014 · Listed For Rent$945

Tax history

• 2025$6,756 tax · $420,386 assessed
• 2024$6,439 tax · $412,144 assessed
• 2023$6,319 tax · $396,142 assessed
• 2022$5,964 tax · $388,376 assessed
• 2021$5,807 tax · $380,762 assessed
• 2020$5,790 tax · $376,858 assessed
• 2019$5,724 tax · $369,469 assessed
• 2018$5,472 tax · $362,226 assessed

Where it is