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$1,486,000
2 Days On Site

1407 Obispo Avenue
Long Beach, CA 90804

For Sale|Apartment|Active
0
Beds
0
Full Baths
0
Partial Baths
5,272
SqFt
$282
/SqFt
1929
Built
County:
Los Angeles
Listed by Kacey Taormina of Compass [email protected]

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1407 Obispo Avenue1407 Obispo Avenue1407 Obispo Avenue1407 Obispo Avenue
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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.

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Listing Snapshot
Price 
$1,486,000
Days On Site 
2 Days
Bedrooms 
N/A
Inside Area (SqFt) 
5,272 sqft
Total Baths 
N/A
Full Baths 
N/A
Partial Baths 
N/A
Lot Size 
0.1705 Acres
Year Built 
1929
MLS® Number 
NP25096923
Status 
Active
Property Tax 
N/A
HOA/Condo/Coop Fees 
N/A
Sq Ft Source 
N/A
Friends & Family
Recent Activity
3 days agoListing first seen on site
3 days agoListing updated with changes from the MLS®
General Features
Acres 
0.1705
Garage 
Yes
Garage Spaces 
4
Number Of Stories 
2
Parking Spaces 
4
Property Sub Type 
Apartment
Sewer 
Public Sewer
Special Circumstances 
Standard
SqFt Total 
5272
Water Source 
Public
Zoning 
LBR2N
Interior Features
Laundry Features 
Electric Dryer HookupGas Dryer HookupNone
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Exterior Features
Lot Features 
Rectangular Lot
Pool Features 
None
Community Features
Building Access 
1
Community Features 
Sidewalks
Financing Terms Available 
Cash1031 Exchange
MLS Area 
3 - Eastside, Circle Area


This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. The display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

Neighborhood & Commute
Source: Walkscore
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