1407 Obispo Avenue, Long Beach, CA 90804

$1,486,000 Approx. USD 0 beds, 0 baths

New Listing

Save My Notes

MORE INFO

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

Mortgage Calculator

GET PRE-APPROVED

Interested in This Property? Request Virtual Showing Your message will be sent to Jimmy.
By submitting your information, you consent to be contacted by email, SMS message, and/or phone call. You may opt out at any time per our Privacy Policy.

Agent Remarks

1407 Obispo Avenue is a 6-unit multifamily offering located in the heart of Long Beach’s Eastside neighborhood. The property consists of a front fourplex with (4) 2-bedroom, 1-bath units, each featuring in-unit laundry, and a rear duplex with (2) 1-bedroom, 1-bath units positioned above four single-car garages. The garage structure presents a future opportunity for ADU conversion or added income (buyer to verify). With current rents approximately 27% below market and an attractive price per square foot of just $282, this asset offers immediate upside through strategic renovations and tenant turnover. The property is priced at a 12.06 GRM on existing income, with a projected 9.49 GRM at market rents, offering a compelling return profile in a supply-constrained submarket. Residents benefit from proximity to Pacific Coast Highway retail, Recreation Park, Long Beach City College, and the shops and dining along Retro Row. With rising housing costs and ongoing demand for well-located rental units, 1407 Obispo Avenue offers a rare opportunity to acquire a value-add asset with strong long-term upside.

Listing Details

Property type: Apartment (Multi-Family)

Status: Active

MLS# NP25096923

Price: $1,486,000

Beds: 0

Baths: 0

Built in 1929

0.17 acres

Lot size: 0.1705

County: Los Angeles

Zoning: LBR2N