Downtown Area, Alamitos Beach (4) Homes with Residential Income Property Type

Downtown Area, Alamitos Beach (4) Homes with Residential Income Property Type

Welcome to the vibrant Downtown Area and Alamitos Beach of Long Beach, California—where coastal charm meets urban sophistication. This dynamic region, nestled in Los Angeles County, offers an unparalleled lifestyle that seamlessly blends beachside leisure with the excitement of city living.

Downtown Long Beach is a bustling hub of activity, featuring a diverse array of dining, shopping, and entertainment options. Stroll along the picturesque waterfront, where you’ll find the iconic Long Beach Convention Center, the Aquarium of the Pacific, and the lively Pike Outlets. The downtown area is not just a place to live; it’s a community that thrives on culture and creativity, with art galleries, theaters, and vibrant nightlife just steps from your front door.

Just a stone's throw away, Alamitos Beach boasts stunning sandy shores and a laid-back atmosphere. This coastal enclave is ideal for those who appreciate sun-soaked days and tranquil ocean breezes. Whether you’re enjoying a morning jog along the beach path or savoring a sunset picnic, Alamitos Beach is the perfect backdrop for a relaxed lifestyle.

For investors and homeowners alike, this region also offers incredible opportunities with residential income properties. Imagine owning a charming duplex or triplex just moments from the beach, providing both a comfortable home and a lucrative rental income. With the growing demand for housing in this desirable locale, investing in residential income properties here is not just a wise financial decision but also a chance to be part of a thriving community.

Discover the magic of Downtown Long Beach and Alamitos Beach—where your dream home awaits, along with the promise of a prosperous future.

Newest Downtown Area, Alamitos Beach (4) Homes with Residential Income Property Type

$2,000,000
OC26200969 MLS ⋅ Active Status
1035 Lime Avenue is a 10-unit multifamily investment property located in Long Beach, California. Built in 1924 and situated on a 0.15-acre lot, 1035 Lime Avenue features a unit mix of 2 studios, 6 1-bed/1-bath units and 2 2-bed/1-bath units totaling approximately 6,384 square feet of net rentable area. The gated property offers a central courtyard, an on-site laundry facility and 5 garage parking spaces. The laundry facility provides existing ancillary income, while the garage parking offers additional flexibility as a separate revenue source or tenant amenity. Current ownership has completed substantial improvements to both the building systems and individual units. Work includes new copper plumbing, updated electrical systems and all-new kitchens and bathrooms throughout the property. Most units have undergone extensive renovations, with much of the interior work involving down-to-the-studs improvements. These upgrades provide a strong physical foundation and reduce the need for an incoming owner to undertake a significant renovation program. 1035 Lime Avenue is located near the East Village Arts District and Downtown Long Beach, placing residents close to an established mix of restaurants, retail, entertainment and cultural destinations. The property is also within convenient reach of the Long Beach waterfront, including the marina, shoreline recreation, dining and other coastal amenities. With substantial capital and interior improvements already completed, 1035 Lime Avenue offers an investor the opportunity to acquire an improved multifamily asset in a central Long Beach location. Its diverse unit mix, gated setting, garage parking, ancillary income sources and proximity to Downtown, East Village and the waterfront support the property’s long-term appeal to renters.

1035 Lime Avenue, Long Beach
$2,225,000
12 Beds ⋅ 16 Baths ⋅ 26987747 MLS ⋅ Active Status
Prime Long Beach 15 unit residential property on a 11,311sf lot. This property is excellent for a cash flowing investment OR development. Six units intentionally left vacant for ease of development, if desired. Property has 8 single car garages that could potentially be converted into ADUs. Current income (with vacant units counted at pro-forma rents) puts the property at 7.98 cap rate. Get to 9.7 cap rate at full pro-forma rents! Units have tankless water heaters. Agents MUST read private notes.

1626 Pacific Avenue, Long Beach
$2,125,000
OC26199510 MLS ⋅ Active Status
1111 Pine Avenue is a 12-unit multifamily investment opportunity located in Long Beach, California. Built in 1922, 1111 Pine Avenue features a unit mix of 7 studios and 5 1-bed/1-bath units totaling approximately 6,142 square feet of net rentable area. The property offers a gated central courtyard, on-site laundry facility and 4 garage parking spaces. The property has benefited from extensive improvements under current ownership, with most units substantially renovated as vacancies occurred over roughly the last decade. Five units have been recently renovated with all-new kitchens and bathrooms, including 4 currently vacant units whose renovations were just completed and are positioned to be leased at current market rental rates. Renovated interiors feature a mix of updated cabinetry, countertops and flooring as well as recessed lighting, with finishes varying by unit. Ownership has also invested in the building’s major systems, including new copper plumbing and updated electrical. Together with the extensive interior renovation history, these improvements represent meaningful capital investment in the property and provide a stronger physical foundation for future ownership. Current rents remain below prevailing market levels, providing additional long-term income growth potential. More immediately, the 4 newly renovated vacant units allow an incoming owner to establish market rents on one-third of the property at acquisition. Combined with the substantial improvements already completed throughout the building, 1111 Pine Avenue offers a compelling balance of current condition, near-term lease-up potential and longer-term rental upside.

1111 Pine Avenue, Long Beach
$1,199,900
4 Beds ⋅ 3 Baths ⋅ 26987077 MLS ⋅ Active Status
Versatile and turn-key investment opportunity at 530 Almond Ave. This Long Beach DUPLEX has been thoughtfully updated and remodeled, offering a fresh, modern aesthetic across both units. Whether you're looking for a savvy addition to your portfolio or a property with built-in income potential, this one delivers. The property is currently performing well, with a front 3BD + 2BA house fully remodeled with a spacious and bright living room, dining area, renovated bathrooms and fully equipped kitchen with brand new LG appliances with fridge, stove, microwave, dishwasher and garbage disposal, as well as new countertops, new cabinets, new fixtures. Additional features include new recessed lighting, new vinyl flooring, covered one car garage, gated driveway with space for 3 cars, central AC on the front unit and a washer and dryer room in unit. All plumbing, electrical and HVAC systems have been upgraded. Relax outside and enjoy a large backyard area with new landscaping already occupied by tenants paying excellent rents, providing immediate cash flow from day one. The second unit is a 1BD + 1BA upstairs unit sitting above the garage on a separate building and remodeled with a mini split A/C unit. In addition to the two primary units, the property features a non-conforming studio situated below the 1BD unit, offering even more flexibility for creative use or additional workspace. Spacious backyard on an expansive lot with room for an ADU or additional improvements. The property includes a garage and a spacious driveway with enough room to accommodate multiple vehicles comfortably. With its stylish finishes, updated systems, and significant income potential, this is a standout opportunity to own a high-functioning property in a vibrant location. The expansive lot has room for further development potentially adding two ADUs (buyer to verify). One bedroom unit to be delivered vacant! Main house and studio are tenant occupied and bringing good income! Shown with accepted offer only.

530 Almond Avenue, Long Beach
$3,200,000
SB26197731 MLS ⋅ Active Status
We are pleased to present 1211 Magnolia Avenue, a pride-of-ownership, turnkey 16-unit multifamily property located in Long Beach. The property features an efficient all one-bedroom unit mix, five garages, on-site laundry, and additional upside through modest rent growth and potential garage-area ADUs. At the asking price, 1211 Magnolia is offered at approximately $294 per square foot while generating a 6.80% current capitalization rate and a 7.74% pro forma capitalization rate. The investment thesis is straightforward: acquire a well- renovated asset at a discounted basis, capture a near-7% day-one yield, and retain additional upside through rent normalization and potential future ADU development. The property offers investors a true ease-of-management opportunity. Current ownership extensively renovated the building with the intention of holding it for the long term, completing comprehensive upgrades while preserving its original 1930s Spanish-style character. The rehabilitation was executed with that character in mind, including restoration of original oak flooring and installation of mission-style lighting, alongside fully remodeled interiors, replacement windows, upgraded electrical meters, plumbing and HVAC systems. Renovation decisions prioritized quality, durability and longevity. With the renovated units leased at market rents, a new owner benefits from immediate stabilized income without the execution risk, downtime or capital requirements typically associated with a value-add renovation program. Importantly, the pro forma rents can be achieved through annual rent increases alone, with no further capital expenditure required. 1211 Magnolia Avenue is situated in Long Beach’s Willmore neighborhood, just minutes from Downtown Long Beach, its waterfront amenities and the 710 Freeway.

1211 Magnolia Avenue, Long Beach
$888,000
SB26196998 MLS ⋅ Active Status
We are pleased to present 1071 N Almond Ct, a five-unit apartment building and multi-layered value-add opportunity in a strong Long Beach infill location. The building is 3,221 SF, sits on a 4,257 SF lot, and benefits from a strong unit mix of (3) 2 Bed/1 Bath and (2) 1 Bed/1 Bath units. At $177,600/unit and $275.69/SF — both well below comp averages — the offering represents an attractive entry basis in a tightly held submarket. At a 3.5% CAP rate and 15.8 GRM on current in-place rents, this offering carries roughly 125% in rent upside, which would impute a 10.1% Market CAP and 7.0 Market GRM on stabilized market rents. Four units are occupied at rents well below market; the rear unit will be delivered vacant and requires full renovation. Further, the building benefits from efficient lot coverage, with a detached rear garage presenting a potential ADU conversion candidate and a second garage ADU opportunity once the rear building is renovated (buyer to verify). In addition, the property scores 93 on Walk Score and sits roughly three miles from the Port of Long Beach, which supports an estimated one in five jobs citywide. Demand is further supported by Anduril's $1 billion Douglas Park campus and its roughly 5,500 projected jobs. Full build-out of highest and best use is modeled at a 16.1% unlevered IRR over a 7-year hold. See OM for details. Offered as-is, where-is; buyer to verify zoning, rebuild rights, and ADU eligibility with the City of Long Beach.

1071 N Almond Court, Long Beach
$1,850,000
PW26196305 MLS ⋅ Active Status
This offering presents an excellent turnkey acquisition opportunity: converted from a creative office building into an apartments in 2020, this building is not subject to rent control. 944 Pacific Avenue features four one-bed/one-bath units, one two-bed/one-bath, and one two-bed/two-bath unit. Unit interiors boast modern finishes, in-unit laundry, and mini splits to support rental demand. The units are separately metered for all utilities; with tenants paying their own gas, electric, and water, owner expenses are minimized. The building also offers controlled access, a landscaped courtyard with patios, and a large parking lot with an E/V charger. The building’s electrical and plumbing were updated during the building use conversion. The property is located in Downtown Long Beach, offering easy access to major employers, retail, and attractions. This transit-friendly location is also just three blocks from the Metro E Line and proximate to the 710 Freeway.

944 Pacific, Long Beach
$1,595,000
PW26195086 MLS ⋅ Active Status
Great Downtown location blocks away from shopping, restaurants and so much more. Classic building with great unit mix (1) 2 bedroom unit (4) 1 bedroom units and (1) studio unit along with (2) garages. Laundry room leased for additional income. Potential ADU with its own bath as well as potential ADU conversion of garages. Nice backyard. Even without ADU's there is a substantial upside in rents. Security camera. Cap rate of 6

419 Cedar, Long Beach
$1,450,000
PW26193792 MLS ⋅ Active Status
1071 Olive Avenue is a well-maintained six-unit apartment building near Downtown Long Beach. The property offers a desirable unit mix consisting entirely of 2bed/1bath units, all updated within the past five years. Several units feature in-unit laundry and ductless mini split air conditioning. One unit is currently vacant, providing an immediate opportunity to lease at market rent. The property includes four driveway parking spaces, a freestanding one-car garage and an unused laundry room with additional income potential.

1071 Olive, Long Beach
$749,900
PW26189869 MLS ⋅ Active Status
Charming and thoughtfully upgraded, this side-by-side Bungalow duplex at 1915 E. 3rd Street sits at the edge of Belmont Heights and has been meticulously maintained with tasteful updates that preserve its original character. Each unit offers 1 bedroom, 1 bathroom, and one dedicated parking space, with separate gas and electric meters and private outdoor spaces that enhance comfort and livability. The left unit (1915 E. 3rd) has been primarily owner-occupied, while the right unit (1917 E. 3rd) has operated as a short-term rental for the past several years, including permitted AirBnB and Furnished Finder use. Both units will be delivered vacant at close of escrow, providing flexibility for an owner-occupant to live in one unit while generating income from the other, or for an investor seeking strong rental demand in a high-performing coastal market. Located within walking distance to Alamitos Beach and close to Downtown Long Beach, shopping, dining, trendy East Village, schools, major freeways, and public transportation, this property offers excellent long-term upside in a desirable coastal community. Upgrades include electrical, restoring the double hung windows, flooring, wall furnaces, dedicated electrical circuits to run all the window Air Conditionings, addition of electric outlets, exterior paint and an awnings as well as welcoming picket fence.

1915 E 3rd, Long Beach
$1,850,000
PW26189345 MLS ⋅ Active Status
Introducing 406–420 E 7th Street and 652–654 Elm Avenue, Long Beach, CA 90813, a rare three-building, eight-unit mixed-use property located at the corner of 7th Street and Lime Avenue. The property consists of five residential units and three commercial units spread across three separate detached structures, providing a well-diversified income stream. The unit mix includes a detached 2-bedroom, 1-bathroom single-family bungalow at 420 E 7th Street, a mixed-use building at 412 E 7th Street containing three ground-floor retail units with two second-story apartments, and a two-story residential duplex at 652–654 Elm Avenue with one unit upstairs and one downstairs. The property is zoned LBPD-30 and offers excellent visibility with 150 feet of frontage along E 7th Street and 50 feet of depth along both Linden and Elm Avenues. Located on the border of the East Village Arts District, the property benefits from strong walkability and close proximity to downtown Long Beach restaurants, retail, nightlife, cultural attractions, public transportation, and major employment centers. The property is located within the LBPD-30 Downtown Planned Development Zone, which is intended to encourage higher-density, mixed-use redevelopment and provides flexibility for future development potential, subject to City of Long Beach approvals. Financial highlights include actual gross annual income of $201,576 and a Gross Rent Multiplier (GRM) of 10.05, with potential upside through rental growth and strategic management. Due to the mixed-use nature of the asset, the property will qualify for commercial financing, typically requiring approximately 30% down payment for qualified buyers. With multiple detached buildings, diversified income streams, redevelopment potential, and a prime corner location, this property represents a compelling opportunity for investors seeking stable cash flow and long-term appreciation.

406 E 7th, Long Beach
$3,850,000
26908925 MLS ⋅ Active Status
Premier Downtown Long Beach redevelopment and investment opportunity in the heart of the East Village Arts District, surrounded by new residential growthand a thriving mix of dining, retail, and entertainment. Just minutes from the Long Beach Convention Center, Queen Mary, Metro transit, waterfront, and beaches, withconvenient access to the cruise terminal, Belmont Shore, The Pike Outlets, Seal Beach, and Huntington Beach. Long Beach's signature annual events, including the GrandPrix and Pride, further contribute to the area's year-round activity and destination appeal.A rare grandfathered hotel entitlement creates exceptional flexibility and adds a valuable dimension to the site's future potential. Envision a landmark multilevel mixed-use development with ground-floor retail and residential above, a multilevel residential community, or a hotel/hospitality-driven concept capitalizing on this exceptional location and existing entitlement.As Downtown Long Beach continues to attract significant investment and residential growth, sites offering this combination of location, flexibility, and entitlement are increasingly scarce. An exceptional opportunity to create a signature project and help shape the next chapter of one of Southern California's most dynamic urban districts!

154 Elm Avenue, Long Beach
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Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.