ResidentialIncome — 1140 Orizaba Avenue, Long Beach, CA
$1,080,000
1140 Orizaba Avenue, Long Beach, CA
About this property
We are pleased to present 1140 Orizaba Avenue, a 4-unit multifamily investment opportunity located in the Eastside/Circle Area submarket of Long Beach (90804). The property features an attractive unit mix of (1) 3 Bed/2 Bath, (1) 2 Bed/1 Bath, and (2) 1 Bed/1 Bath units situated across three separate structures. The large 6,531 SF lot and efficient lot coverage provides ample on-site parking, which is especially valuable in this parking impacted submarket. The property benefits from a low-expense operating profile, as each unit is separately metered for gas and electricity, while owner-paid water, sewer, and trash expenses have historically remained very low. Priced at a 5.01% CAP Rate and 13.51 GRM on current in-place rents, with upside to an achievable 7.88% Market CAP Rate and 9.59 Market GRM, the offering presents a compelling value-add opportunity with strong day one income and approximately 41% rental upside. Further, the property is strategically located in a high-demand rental pocket with a near-perfect Walk Score of 99 (“Walker’s Paradise”). Historically, walkable neighborhoods with authentic local character, limited housing supply, and established community amenities have demonstrated durable tenant demand and stronger long-term appreciation potential relative to more transient rental submarkets.
Property details
Location
1140 Orizaba Avenue • Long Beach, CA 90804
Listed by
Joshua Barut · Lyon Stahl Investment Real Estate, Inc.