CA > Long Beach
Long Beach, CA 90804,1407 Obispo Avenue
$1,486,000
Est. payment /mo
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8 Beds
4 Baths
7,429 Sqft Lot
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1407 Obispo Avenue Long Beach, CA 90804

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Ben Ruiz

Ben Ruiz

+1(619) 733-4635

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Key Details

Property Type Multi-Family

Sub Type Res Income 2-4 Units

Listing Status Active

Purchase Type For Sale

MLS Listing ID NP25096923

Bedrooms 8

HOA Y/N No

Lot Size 7,429 Sqft

Property Sub-Type Res Income 2-4 Units

Property Description

1407 Obispo Avenue is a 6-unit multifamily offering located in the heart of Long Beachs 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.
1407 Obispo Avenue is a 6-unit multifamily offering located in the heart of Long Beachs 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.

Location

State CA

County Los Angeles

Area Long Beach (90804)

Zoning Estimated

Building

Lot Description Sidewalks

Story 2

Lot Size Range 4000-7499 SF

Others

Monthly Total Fees $111

Acceptable Financing Cash, Exchange

Space Rent $1,599

Listing Terms Cash, Exchange

San Diego Regional MLS (SDMLS)
Listed by Kacey Taormina • Compass

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agent

Ben Ruiz

Broker Associate | License ID: 00948586

+1(619) 733-4635

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1407 Obispo Avenue

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