1407 Obispo ave, Long Beach, CA 90804
Active
$1,395,000
6%
6 Units
10 Beds
6 Baths
5,272 Area(sq.ft.)
Lot: 7,429 Lot Size(sq.ft.)
| Type | # of Units | Bedroom | Bath | Furnished | Rent | Actual Rent | Projected Rent |
|---|---|---|---|---|---|---|---|
| Unit 1 | 1 | 2 | 1 | $ 1,599 | n/a | $ 2,300 | |
| Unit 2 | 1 | 2 | 1 | $ 1,860 | n/a | $ 2,300 | |
| Unit 3 | 1 | 2 | 1 | $ 2,113 | n/a | $ 2,300 | |
| Unit 4 | 1 | 2 | 1 | $ 1,599 | n/a | $ 2,300 | |
| Unit 5 | 1 | 1 | 1 | $ 1,512 | n/a | $ 1,925 | |
| Unit 6 | 1 | 1 | 1 | $ 1,686 | n/a | $ 1,925 | |
| 6 | 10 | 6 | $ 10,369 | $ 0 | $ 13,050 |
| MLS #: | NP25096923MR |
| Days On Market: | 213 |
| Listing Date: | May 7, 2025 |
| County: | Los Angeles |
| Property Type: | Residential Income |
| Price per ft2: | $ 265 |
| Price per unit: | $ 232,500 |
| Year Built: | 1929 |
Property Details
1407 Obispo Avenue is a 6-unit multifamily offering located in the heart of Long Beach s 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.Interested in this Listing?
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Income Details
| Rent Control: | Yes |
| Total Annual Expense: | $ 40,758 |
| Net Operating Income: | $ 78,774 |
Structure
| Community Features: | Sidewalks |
| Sewer: | Public Sewer |
| Water: | Public |
Land & Parking
| Zoning: | LBR2N |
| Land Lease Type: | Fee |
Interior
| Laundry: | Gas Or Electric Dryer Hookup, None |
Exterior
| Pool: | No |
Detailed Map
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