CA > Long Beach
Long Beach, CA 90804,1407 Obispo Avenue
Long Beach, CA 90804,1407 Obispo Avenue
Long Beach, CA 90804,1407 Obispo Avenue
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$1,380,000
Est. payment /mo
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8 Beds
7,429 Sqft Lot
Pending

1407 Obispo Avenue Long Beach, CA 90804

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Richard Combs

Richard Combs

+1(619) 838-9307

UPDATED:

Key Details

Property Type Multi-Family

Sub Type Res Income 2-4 Units

Listing Status Pending

Purchase Type For Sale

MLS Listing ID NP25096923

Bedrooms 8

Lot Size 7,429 Sqft

Property Sub-Type Res Income 2-4 Units

Property Description

1407 Obispo Avenue is a 6-unit multifamily offering located in the heart of Long Beachs Eastside neighborhood. The property consists of a front fourplex with (4) 2-bedroom, 1-bath units, each featuring in-unit laundry, and a rear duplex with (2) 1-bedroom, 1-bath units positioned above four single-car garages. The garage structure presents a future opportunity for ADU conversion or added income (buyer to verify). With current rents approximately 27% below market and an attractive price per square foot of just $282, this asset offers immediate upside through strategic renovations and tenant turnover. The property is priced at a 12.06 GRM on existing income, with a projected 9.49 GRM at market rents, offering a compelling return profile in a supply-constrained submarket. Residents benefit from proximity to Pacific Coast Highway retail, Recreation Park, Long Beach City College, and the shops and dining along Retro Row. With rising housing costs and ongoing demand for well-located rental units, 1407 Obispo Avenue offers a rare opportunity to acquire a value-add asset with strong long-term upside.

Location

State CA

County Los Angeles

Zoning Estimated

Direction Anaheim to Obispo

Interior

Fireplace No

Exterior

View Y/N No

Building

Story 2

Level or Stories 2

Others

Tax ID 7259023013

MLS Router / San Diego MLS
Listed by Kacey Taormina Compass

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Richard Combs

Richard Combs

Broker | License ID: 01526804

+1(619) 838-9307

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1407 Obispo Avenue

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