938 Stanley Avenue
Long Beach, CA, 90804
$2,150,000
Beds
0 Baths
SqFt
0.12 Acres
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We are pleased to exclusively offer for sale this 9 Unit Multi-Family investment located in the vibrant 90804 submarket of Long Beach. This 5,201 SF lot is centrally positioned in Long Beach and offers tenants convenient access to the entirety of the city as well as the confluence of both Los Angeles and Orange County freeway systems. In addition to the building’s excellent location, it has an outstanding unit mix consisting of (2) 2 Bed/2 Bath Units, (2) 2 Bed/1 Bath units, and (5) 1 Bed/1 Bath units. Further, the front house has a new roof and many of the major electric and plumbing systems have been upgraded. This kind of meticulous management is indicative of a well-run operation providing a smooth, headache free investment. As it stands, the offering presents strong day one income with a current CAP Rate of 6.75% as well as a GRM of 9.91 and future upside with a pro forma CAP Rate of 8.00% and GRM of 9.91. Along these lines, the property features onsite washer and dryer hookups allowing investors an easy avenue to increase their annual Cash Flow upon acquisition. All in all, the building is a half mile from Retro Row and just over a mile from the Traffic Circle and the vast dining, shopping, and entertainment options therein. This provides much optimism for continued rent growth and appreciation within the submarket in both the near and distant future, as housing demand and economic stability are two of the main drivers in investment real estate.

Property Details

Price:
$2,150,000
MLS #:
SB25092114
Status:
Active
Baths:
0
Address:
938 Stanley Avenue
Type:
Residential Income
Subtype:
Apartment
Subdivision:
Eastside ES
Neighborhood:
3eastsidecirclearea
City:
Long Beach
Listed Date:
Apr 22, 2025
State:
CA
ZIP:
90804
Lot Size:
5,201 sqft / 0.12 acres (approx)
Year Built:
1925
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Schools

Interior

Appliances
6 Burner Stove, Dishwasher, Electric Range, Gas Oven, Microwave, Refrigerator, Water Heater
Cooling
Central Air, Wall/ Window Unit(s)
Flooring
Vinyl, Wood
Heating
Central, Wall Furnace
Laundry Features
Gas Dryer Hookup, Washer Hookup

Exterior

Architectural Style
Craftsman
Community Features
Biking, Curbs, Dog Park, Golf, Gutters, Park, Street Lights, Urban
Construction Materials
Concrete, Stucco, Wood Siding
Parking Features
None
Parking Spots
0.00
Roof
Flat
Security Features
Carbon Monoxide Detector(s), Fire and Smoke Detection System

Financial

Map

Community

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938 Stanley Avenue
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