1403 Lemon Avenue,Long Beach, CA 90813
Long Beach, CA 90813
Description
SELLER FINANCING AVAILABLE AT 5% INTEREST-AN EXCEPTIONAL OPPORTUNITY FOR QUALIFIED BUYERS, SUBJECT TO SELLER APPROVAL AND MUTUALLY AGREED-UPON TERMS. Welcome to 1403 Lemon Avenue, an outstanding multifamily investment located in the vibrant, rapidly appreciating area of Long Beach, California. This well-positioned five-unit income property offers investors a rare blend of strong in-place cash flow, potential for long-term value appreciation, all in one of Southern California's most dynamic coastal cities. Positioned on a 6,519 square foot lot, the property consists of five distinct units with a combined living area of approximately 2,700 square feet. The unit mix includes: One detached 4-bedroom, 2-bath front house, offering the feel and privacy of a single-family residence. One 4-bedroom, 1-bath unit, perfect for larger households or shared living scenarios. Three 2-bedroom, 1-bath units, ideal for small families, professionals, or long-term tenants. This unit diversity not only maximizes rental appeal across a broad demographic but also minimizes vacancy risk, ensuring a reliable income stream for the savvy investor. Strong Income with Upside Potential Currently two vacancies, 1403 Lemon Ave delivers an impressive 8.76% cap rate-a rare find in today's Southern California market. With below-market rents in place and room for value-add improvements, there's still significant upside potential for rental increases over time, particularly as the Long Beach rental market continues to strengthen. For investors seeking a stabilized asset with future growth potential, this property offers both: strong existing cash flow and long-term opportunity for rent optimization and appreciation. Parking & Storage: Valuable Add-Ons The property includes four garages and two uncovered driveway parking spaces, a premium amenity in this densely populated urban neighborhood. These spaces could potentially generate additional income if rented separately or bundled with leases-another layer of return on your investment. Garages may also appeal to owner-users, short-term rental hosts, or tenants needing extra storage. Prime Location Near Downtown Long Beach
Details
| MLS # | SR26107777 |
|---|---|
| Listing Type | For Sale |
| Style | House |
| Sub-Type | Resale |
| Status | Active |
| Year | 1924 |
| Days On Site | 123 |
| Listing Provided By | Beverly and Company | Milla Pariser |
Features
| SQ Feet | 2,700 |
|---|---|
| Garage | 4 |
| Story(s) | 1 |
| Units | 5 |
| Building(s) | 2 |
| Zoning | LBR1N |
| Acreage | 0.15 |
Exterior
| Lot Features | Front Yard, Landscaped, Near Public Transit |
|---|
Parking
| Garage Yes / No | Yes |
|---|
Utilities
| Sewer | Public Sewer |
|---|
Location
| Community Features | Curbs, Storm Drains, Street Lights, Sidewalks |
|---|
Area Information
| State | CA |
|---|---|
| County | Los Angeles |
| City | Long Beach |
| Zip Code | 90813 |
| Area | 9 Poly High |
| Community Name | Poly High (PH) |
| Listing VS Median (in Poly High (PH)) | |
Price: $1,198,000 low | high Med: $1,100,000 sqft: 2,700 low | high Med: 3,343 $ / sqft: $444 low | high Med: $379 On site: 123 low | high Med: 19.5 | |
Market Activity 90813
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Learn More About This Property
| State | CA |
|---|---|
| County | Los Angeles |
| City | Long Beach |
| Zip Code | 90813 |
| Area | 9 Poly High |
| Community Name | Poly High (PH) |
| Listing VS Median (in Poly High (PH)) | |
Price: $1,198,000 low | high Med: $1,100,000 sqft: 2,700 low | high Med: 3,343 $ / sqft: $444 low | high Med: $379 On site: 123 low | high Med: 19.5 | |
