Residential Income — 92 E Louise, Long Beach, CA
$1,100,000
92 E Louise, Long Beach, CA
About this property
92 E. Louise Street presents the opportunity to acquire a well- maintained four-unit multifamily property offering strong in-place cash flow, meaningful rental upside, and additional long-term value creation potential in North Long Beach. Built in 1953, the property consists entirely of two-bedroom/one- bath units, each approximately 740 square feet, providing a highly desirable and consistent unit mix with broad renter appeal. Current rents average approximately $2,138 per month, compared with nearby rent comparables averaging approximately $2,538 per month, demonstrating substantial embedded rental upside. The property has also benefited from several significant capital improvements, including new windows throughout the building, recent re-piping, exterior painting within the past three years, and a new electronic security gate. These improvements reduce near- term capital expenditure exposure while enhancing the property's overall functionality and tenant appeal. The property's four detached garages and additional surface spaces present the opportunity to add immediate income through parking fees or convert garages to ADUs for future additional rental income (buyer to verify).The offering compares favorably with recent four-unit sales in the surrounding market. At $275, 000 per unit, 92 E. Louise is priced below the comparable-set average of approximately $306,750 per unit, while offering a substantially stronger going-in yield than the comparable average cap rate of approximately 5.32% For investors seeking strong current yield with identifiable upside, 92 E. Louise Street offers a compelling combination of in-place cash flow, below-market rents, an all-two-bedroom unit mix, recent capital improvements, and potential future ADU development—all at a basis below recent comparable four-unit sales.
Property details
Location
92 E Louise • Long Beach, CA 90805
Listed by
Robert Stepp · Keller Williams Realty Downey
Nearby listings in Long Beach, CA
- 2075 E Appleton Street 27, Long Beach, CA · $349,999
- 615 E Broadway 203, Long Beach, CA · $2,100/mo
- 1200 E Ocean 57, Long Beach, CA · $525,000
- 6020 Ocean Boulevard, Long Beach, CA · $3,440,000
- 7890 E Spring Street 17P, Long Beach, CA · $429,750
- 707 W 4th 7, Long Beach, CA · $385,000
- 801 Alamitos Avenue, Long Beach, CA · $1,599,000
- 2332 E 17th 101, Long Beach, CA · $379,999
- 4409 E 10th Street, Long Beach, CA · $1,125,000
- 3565 Linden 237, Long Beach, CA · $339,999
- 811 Ohio, Long Beach, CA · $1,850,000
- 1067 N Norman Court, Long Beach, CA · $799,000