$ 1,380,000
-
$1,380,000
Price -
10
Bed -
6
Bath -
5,272
SqFt
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About the Listing NP60725 - U41304,np61311
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 Highlights for 1407 Obispo Ave
Status
Pending
Days on Site
171
Property Type
Multi-Family
MLS ®
NP25096923
Year Built
1929
Total Square Footage
5,272
Lot/Acreage
0.17
County
Los Angeles
Interior Details
- Bedrooms: 10
- Bathrooms: 6 Full
- Appliances:
- Air Cond:
- Heating:
- Fireplaces:
- Floor:
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement:
- Other:
- Water: Public
Exterior Details
- Lot Description: Rectangular Lot,No Land Lease
- Garage Capacity: 4 car
- Parking Spaces: 4
- Zoning: LBR2N
- Roof:
- Others: 2+ Total Units
- Sewer: Public Sewer
Financial Details
- Tax Amount: N/A
- Taxes w/Assessments: N/A
- Tax/Property ID: 7259023013
- Tax Year: N/A
Payment Calculator
Monthly Payment
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Listing Location
Questions About..
1407 Obispo Ave Long Beach, CA 90804
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