REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
$ 1,120,000
Est. payment /mo
Price Dropped by $40K
1140 Orizaba Avenue Long Beach, CA 90804
7 Beds
5 Baths
6,351 Sqft Lot
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
Subdivision Eastside (Es)
MLS Listing ID SB26103140
Bedrooms 7
Lot Size 6,351 Sqft
Property Sub-Type Res Income 2-4 Units
Property Description
We are pleased to present 1140 Orizaba Avenue, a 4-unit multifamily investment opportunity located in the Eastside/Circle Area submarket of Long Beach (90804). The property features an excellent unit mix of (1) 3 Bed/2 Bath, (1) 2 Bed/1 Bath, and (2) 1 Bed/1 Bath units. The large 6,531 SF lot and efficient lot coverage provides ample on-site parking, which is especially valuable in this parking impacted submarket. The property is separately metered for electricity and gas, and is not subject to local rent control (only AB1482). Priced at a 4.50% CAP Rate and 14.51 GRM on current in-place income, with upside to an achievable 7.18% Market CAP Rate and 10.31 Market GRM, the offering presents a compelling value-add opportunity with strong day one cash flow and approximately 41% rental upside. The property is strategically located in a high-demand rental pocket with a near-perfect Walk Score of 99 (Walkers Paradise). Historically, walkable neighborhoods with authentic local character, limited housing supply, and established community amenities have demonstrated durable tenant demand and stronger long-term appreciation potential relative to more transient rental submarkets.
Location
State CA
County Los Angeles
Zoning Assessor
Direction 11th & Orizaba
Interior
Fireplace No
Exterior
View Y/N No
Building
Story 1
Level or Stories 1
Others
Senior Community No
Tax ID 7259018010
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Listed by Joshua Barut, DRE#01971720 Lyon Stahl Investment Real Estate, Inc.
GET MORE INFORMATION