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$799,000

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3,240 Sqft Lot

Active

1208 N Saint Marys CT Long Beach, CA 90813

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Lee Williams

lee@lamove.com +1(310) 400-6389

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Key Details

Property Type Multi-Family

Sub Type Quadruplex

Listing Status Active

Purchase Type For Sale

Subdivision Saint Mary'S Hospital Area

MLS Listing ID OC26095441

HOA Y/N No

Year Built 1923

Lot Size 3,240 Sqft

Property Sub-Type Quadruplex

Property Description

Excellent opportunity to acquire a value-add four-unit investment property in the highly desirable Downtown Long Beach submarket. This multi-unit asset offers strong in-place income with significant upside potential through renovation and rental repositioning. The property is currently generating approximately $58,500 in annual gross income, reflecting a current Gross Rent Multiplier (GRM) of 13.68 at the current list price and a cap rate of approximately 6.24%. These metrics position the asset as an attractive opportunity for investors seeking both immediate cash flow and long-term appreciation. With strategic improvements, investors have the ability to reposition the asset, increase rents toward market levels, and further enhance overall returns. The property is ideal for investors pursuing a value-add strategy, long-term hold, or future refinance scenario. Located in the heart of Downtown Long Beach, the property benefits from strong tenant demand driven by proximity to major employment centers, coastal amenities, and a vibrant urban lifestyle. The area is known for its waterfront access, marina, Shoreline Village, The Pike Outlets, and a thriving dining and arts scene, making it a highly desirable location for renters. The property is also well-positioned for public transportation access, with the Metro A Line providing direct connectivity from Downtown Long Beach to Downtown Los Angeles and surrounding areas. Nearby transit hubs and multiple Long Beach Transit bus routes offer convenient local and regional access, enhancing tenant appeal and long-term rental demand. This is a rare opportunity to acquire a centrally located multi-unit property in one of Southern California's most dynamic coastal markets, offering immediate income with strong upside potential through rental growth and property improvements. Buyer and buyers agent to conduct their own analysis.

Location

State CA

County Los Angeles

Area 9 - Poly High

Interior

Heating Wall Furnace

Cooling None

Flooring Laminate

Fireplaces Type None

Fireplace No

Appliance Gas Range, Gas Water Heater, Water Heater

Laundry Outside

Exterior

Parking Features Concrete

Pool None

Community Features Sidewalks

Utilities Available Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected

View Y/N No

View None

Roof Type Flat

Accessibility None

Private Pool No

Building

Lot Description Corner Lot

Story 2

Entry Level Two

Sewer Public Sewer

Water Public

Architectural Style Mediterranean

Level or Stories Two

New Construction No

Others

Senior Community No

Tax ID 7274001033

Acceptable Financing Cash, Subject To Other

Listing Terms Cash, Subject To Other

Special Listing Condition Probate Listing

CRMLS Full IDX Feed (MAIN Website Search)

Listed by Erik Kaiser RE/MAX TerraSol erikfkaiser@gmail.com, DRE #01111620

NEARBY SCHOOL & BUSINESS

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Lee Williams

Agent | License ID: 01726182

+1(310) 400-6389

COMING SOON LISTINGS

1208 N Saint Marys CT Long Beach, CA 90813

Lee Williams

Key Details

Location

Interior

Exterior

Building

Others

NEARBY SCHOOL & BUSINESS

GET MORE INFORMATION

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1208 N Saint Marys CT