561 E 64th, Long Beach, CA 90805

About this property

We are pleased to present 561 E. 64th Street, a 1960-construction 16 unit multifamily property located in North Long Beach to market. The property sits on a large 14,552 square foot lot and consists of 16 one bed/one bath units. Operating at a 6.18% cap rate and a 9.19 GRM, in place income is strong. The offering is priced at an attractive low basis of $176,563 per unit and $283 per square foot, positioning the asset below replacement cost and comparable sales in the market. Sixteen covered parking spaces are on site. Current rents remain approximately 18% below market, allowing further upside for a new buyer. The property has recently been extensively replumbed with new pex and copper throughout. Favorable market financing is available, requiring under a $1,000,000 down payment with the ability to achieve over a 7% cash-on-cash return utilizing interest-only financing (buyer to verify). The property is ideally situated directly across the street from Jordan High School, within a well-established residential corridor of North Long Beach.

Listing description from the June 2026 sale, as reported to CRMLS.

Sale history

$2,750,000

Sold June 2026 · listed $2,825,000, on market February 2026 · MLS #PW26036925 · Source: CRMLS

Listing Agent: Jackson Jorgensen · Listing Office: Younglewin Advisors, Inc. · Contact: jack@younglewin.com · Bought with: Jackson Jorgensen · Younglewin Advisors, Inc.

Explore Long Beach