About this home

$500K Price Reduction. Prime Alamitos Beach - PRICED TO SELL - 9.4 GRM and 7.1% CAP with upside to 8.6 GRM and 8.1% CAP at market rents. Ean over 12% cash on cash return at market rents. 31 units (1 is non-conforming) in prime Alamitos Beach in Long Beach subject to AB 1482 rent control - maximum annual increase of 5% + CPI (currently 8.7% total). Located blocks from the ocean with 16 onsite underground parking spaces (all are single spaces). 25 units were updated in the past 5 years and taken down to the studs - all new kitchen cabinets, counter tops, updated bathrooms, flooring and windows. 16 units have W/D's in them. The common areas and exterior were also redone. The Seller has spent over $2.5MM in CAP EX. The property features 30 legal units and 1 non-conforming 1 bed unit. The non-conforming unit can likely be legalized under the Long Beach Amnesty Program - Buyer to verify. The property has an 87 Walkscore. It has a 400 AMP main panel and 60 AMP subpanels - Buyer to verify. There is onsite laundry in the basement and 6 units have W/D in them as well. Priced under 10 GRM on current rents. Based on area rental comps, there is approximately 14% rental upside, allowing an owner to achieve a 8.5 GRM and 8.1% CAP once rents are leveled to market. Excellent lender financing is available for qualified Buyers- 30% down - 6.1% 5-year fixed debt. Earn over a 9% Cash on Cash Return with upside to a 12%+ return at market. Anduril Industries, a cutting-edge defense technology company specializing in AI applications announced that it is commencing a $1 billion redevelopment of land adjacent to the LB Airport. The project is planned to be completed in mid-2027 and is expected to create 5,500 new direct jobs at the site plus thousands of indirect construction and supply-chain service jobs. The Long Beach Airport is also undergoing a $37MM remodel in preparation for the 2028 Olympic Games.

Facts and features

Schools

• Franklin Classical Middle School

  middle · 6-8 · 0.5 mi

  4

• Stevenson Elementary School

  elementary · K-5 · 0.6 mi

  5

• Polytechnic High School

  high · 9-12 · 1.4 mi

  7

• St. Anthony Elementary School

  elementary · K-8 · 0.5 mi

• Saint Anthony High School

  high · 9-12 · 0.6 mi

• Carousel School

  elementary · K-5 · 0.7 mi

Price history

• Nov 4, 2026 · Price Changed$6,498,000
• Oct 26, 2026 · Price Changed$6,499,000
• Oct 21, 2026 · Price Changed$6,499,900
• Oct 20, 2026 · Price Changed$6,500,000
• Oct 7, 2026 · Price Changed$6,600,000
• Oct 1, 2026 · Price Changed$6,700,000
• Sep 28, 2026 · Price Changed$6,850,000
• Sep 14, 2026 · Price Changed$6,900,000

Tax history

• 2025$100,002 tax · $7,549,963 assessed
• 2024$95,631 tax · $7,401,925 assessed
• 2023$93,989 tax · $7,114,500 assessed
• 2022$88,070 tax · $6,975,000 assessed
• 2021$23,325 tax · $1,554,549 assessed
• 2020$23,259 tax · $1,538,610 assessed
• 2019$22,985 tax · $1,508,442 assessed
• 2018$22,423 tax · $1,478,865 assessed

Home value

$7,271,371

• Quantarium$7,271,371

Where it is