1140 Orizaba Avenue, Long Beach, CA 90804

$1,160,000 Approx. USD 0 beds, 0 baths

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Brochure

Photo of Jimmy Harmantzis

Marketed By Jimmy Harmantzis REALTOR® - Broker Associate 949-212-2023 m
949-212-2023 o
Lic#: 01234982
NRDS ID: 641526390
JimmyHarmantzis@bhhscal.com Mission Viejo Office
23120 Alicia Parkway, Suite 100
Mission Viejo, CA 92692
Phone: 949-768-1000
Fax: 949-587-0915

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Agent Remarks

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 (“Walker’s 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.

Listing Details

Property type: Quadruplex (Multi-Family)

Status: Active

MLS# SB26103140

Price: $1,160,000

Beds: 0

Baths: 0

Built in 1942

1 story

0.15 acres

Lot size: 0.1458

Subdivision: Eastside (ES)