1140 Orizaba AVE, Long Beach, CA 90804
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1140 Orizaba AVE, Long Beach, CA 90804
1140 Orizaba AVE, Long Beach, CA 90804
1140 Orizaba AVE, Long Beach, CA 90804
1140 Orizaba AVE, Long Beach, CA 90804
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Georgette Solano

Georgette Solano

+1(562) 222-5847
$ 1,080,000
Est. payment /mo
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Price Dropped by $40K

1140 Orizaba AVE Long Beach, CA 90804

6,351 Sqft Lot

UPDATED:

Key Details

Property Type Single Family Home, Multi-Family

Sub Type Quadruplex

Listing Status Active

Purchase Type For Sale

Subdivision Eastside (Es)

MLS Listing ID SB26103140

HOA Y/N No

Year Built 1942

Lot Size 6,351 Sqft

Property Sub-Type Quadruplex

Property Description

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.

Location

State CA

County Los Angeles

Area 3 - Eastside, Circle Area

Interior

Fireplace No

Laundry None

Exterior

Pool None

Community Features Curbs, Street Lights, Sidewalks, Park

Total Parking Spaces 3

Private Pool No

Building

Lot Description 0-1 Unit/Acre, Level, Near Park, Yard

Story 1

Entry Level One

Sewer Public Sewer

Water Public

Level or Stories One

New Construction No

Others

Senior Community No

Tax ID 7259018010

Acceptable Financing Cash, Cash to New Loan, Conventional

Listing Terms Cash, Cash to New Loan, Conventional

Special Listing Condition Standard

CRMLS Full IDX Feed (MAIN Website Search)
Listed by Joshua Barut Lyon Stahl Investment Real Estate, Inc. 562-457-8126, DRE #01971720

NEARBY SCHOOLS & PROPERTIES

Georgette Solano

Georgette Solano

Broker Associate | License ID: 01817587

+1(562) 222-5847

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