About this home

1074 Redondo Avenue is an eight-unit multifamily investment opportunity located in Long Beach, California. Built in 1989, the three-story property consists of 100% spacious two- bedroom/two-bathroom residences averaging approximately 973 square feet. Each unit is equipped with HVAC and a private balcony, while additional amenities include 14 secure parking spaces and individually metered gas and electricity, providing desirable resident conveniences and operational efficiencies. Offered at $2,625,000, the property presents a compelling investment opportunity with pricing and income metrics that compare favorably to recent transactions. The projected 6.54% capitalization rate exceeds the comparable average of 5.95%, while the 9.87 gross rent multiplier is notably below the 12.02 comparable average. These metrics underscore the property's competitive acquisition basis and attractive projected income potential relative to comparable multifamily assets. Currently operated as student housing with rental income generated on a per-bed basis, the property is being marketed as a conventional market-rate multifamily investment. The pro forma reflects a transition to traditional per-unit leasing, with conservatively projected monthly rents of $2,595 per unit, approximately 8.2% below the surveyed comparable average of $2,828. This measured underwriting approach provides investors with meaningful additional rental upside potential beyond projected income. Situated within Long Beach's established residential market, the property benefits from proximity to the city's diverse employment centers, coastal amenities, and expanding aerospace and technology sectors. With a projected net operating income of $171,753, attractive acquisition metrics, and the opportunity to transition to conventional multifamily operations, 1074 Redondo Avenue offers investors a compelling opportunity to acquire a well-located, newer-vintage multifamily asset with competitive pricing and potential for long- term income growth.

Facts and features

Schools

• Willard Elementary School

  elementary · K-5 · 0.2 mi

  3

• Jefferson Leadership Academies School

  middle · 6-8 · 0.3 mi

  7

• Wilson High School

  high · 9-12 · 0.7 mi

  6

• Zinsmeyer Academy

  elementary · K-12 · 0.5 mi

• Bryant Elementary School

  elementary · K-5 · 0.5 mi

  6

• Oak Tree Children's Center

  elementary · K · 0.5 mi

Price history

• Nov 3, 2026 · Listed$2,625,000
• May 8, 2019 · Sold$2,500,000

Tax history

• 2025$37,311 tax · $2,844,568 assessed
• 2024$35,673 tax · $2,788,793 assessed
• 2023$35,074 tax · $2,680,502 assessed
• 2022$32,917 tax · $2,627,944 assessed
• 2021$32,253 tax · $2,576,417 assessed
• 2020$32,168 tax · $2,550,000 assessed
• 2019$17,257 tax · $1,298,703 assessed
• 2018$16,775 tax · $1,273,239 assessed

Home value

$3,555,735

• Quantarium$3,555,735

Where it is