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Listed by Milla Pariser, DRE #02006267 • Beverly and Company
$ 1,198,000
Est. payment /mo
Price Dropped by $52K
1403 Lemon AVE Long Beach, CA 90813
6,603 Sqft Lot
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID CRSR26107777
Year Built 1924
Lot Size 6,603 Sqft
Source California Regional MLS
Property 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 r
Location
State CA
County Los Angeles
Area 9 - Poly High
Interior
Laundry None
Exterior
Garage Spaces 4.0
Pool None
Building
Story Split Level
Water District - Public
Others
Tax ID 7268015033
Special Listing Condition Not Applicable
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