Discover an exceptional investment opportunity in a prime Long Beach location. 2657 E Monroe St is a fully stabilized five-unit multifamily property offering a strong 7.23% CAP rate with market-rate tenants in place. The property includes RTI (Ready-to-Issue) plans for a new 1-bedroom, 1-bath ADU totaling approximately 437 square feet, with potential to construct up to a total of five ADUs under current California housing laws. Each of the existing units features a spacious 2-bedroom, 1-bath layout, providing approximately 2,968 square feet of living space on an 8,354 square foot lot. Residents enjoy the convenience of an on-site coin-operated community laundry room and low-maintenance landscaping for easy management. Ideally situated near the 405 and 710 freeways, this property offers quick access to major employment centers, CSU Dominguez Hills, and Dignity Health Sports Park. Nearby parks include Anderson Park, Veterans Park, and Victoria Regional Park, with shopping and dining options at Long Beach Towne Center and Carson Marketplace just minutes away. Public transportation options such as the Metro Blue Line and several Long Beach Transit routes provide excellent regional connectivity. With an attractive current GRM of 10.35 and market potential of 8.08, investors can achieve a projected 9.68% CAP rate upon completion of the ADU build-out. This stabilized five-plex with exceptional ADU expansion potential is a rare opportunity in one of Long Beach’s most accessible and growing neighborhoods.
Listing courtesy of Listing Agent: Nicholas Orseno (helpingrealestate@gmail.com) from Listing Office: Four Brothers Real Estate Inc..
Listing sold by Natalie Vaughan-Edmunds from Compass
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.
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