Wrigley Area (5) Homes with Apartment Subtype

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Newest Wrigley Area (5) Homes with Apartment Subtype

$2,525,000

OC26199545 MLS ⋅ Active Status

2059 Cedar Avenue is a 14-unit multifamily property located in Long Beach, California. Built in 1931, 2059 Cedar Avenue features distinctive Spanish Revival-style architecture characterized by its stucco exterior, clay tile roof, arched openings and period architectural detailing. The 2-story property features a unit mix of 6 studios and 8 1-bed/1-bath units totaling approximately 9,399 rentable square feet. Residents enter through a controlled-access main entrance that opens to an interior hallway system serving the individual residences, a layout characteristic of apartment buildings from this era. The property offers several amenities that provide value to both residents and ownership. An on-site laundry facility gives residents the convenience of laundry within the building while generating additional property income. The 4 garage parking spaces are particularly valuable in Long Beach’s dense residential environment, providing residents with dedicated off-street parking while also enhancing the property’s rental income. Current ownership reports copper plumbing and electrical improvements, along with updates to kitchens and bathrooms throughout the property. Units have also received various improvements as they have turned over through the years, with stainless-steel appliances among the upgrades found in select residences. Combining classic 1930s architecture with updated interiors, building-system improvements and incomeproducing resident amenities, 2059 Cedar Avenue offers investors the opportunity to acquire a distinctive Long Beach multifamily asset with numerous capital improvements already completed under current ownership.

2059 Cedar Avenue, Long Beach

$2,300,000

SB26144665 MLS ⋅ Active Status

1950 Pacific Ave presents a rare VALUE ADD Opportunity to acquire an 11-unit multifamily asset in Long Beach with strong in-place cash flow and two newly constructed ADUs already completed. The property features a desirable unit mix consisting of 1-bedroom and 2-bedroom units, including the two new ADUs, giving investors a clean combination of existing income, newer added rental units, and continued upside in rents. Built in 1962, the property totals approximately 6,733 square feet of building area on an approximately 8,591 square foot lot. Current scheduled rents total approximately $19,559 per month, or $234,712 annually, with market rents projected at approximately $21,940 per month before additional garage income, bringing total annualized market income to approximately $270,480. At the asking price of $2,300,000, the property is priced at approximately $209K per unit and $267 per net rentable square foot. The asset currently operates at a 9.80 GRM and 7.03% cap rate, with the ability to move toward an 8.50 GRM and 8.54% cap rate at market rents. The offering provides investors with strong current income, two newly built ADUs, and a clear path for additional rent growth in a central Long Beach location. With multiple units still below market and the ADU income already in place, 1950 Pacific Ave offers a compelling value-add opportunity with both immediate cash flow and long-term upside.

1950 Pacific, Long Beach

$1,099,000

SB26142307 MLS ⋅ Active Status

TWO-BEDROOM UNIT AVAILABLE FOR OWNER-OCCUPIED BUYER. Meticulous updates in 2018. Owner Installed ALL NEW copper plumbing throughout, fully rewired with ALL NEW electrical, breaker box and ALL NEW vinyl windows. Located in Long Beach, this well-maintained two-unit residential property totals approximately 2,416 square feet on a generous 6,501 square foot lot. Built in 1934 and zoned LBR2N, the property features two 2-bedroom/1-bath units with current scheduled gross income of approximately $62,040 and pro forma scheduled gross income of approximately $63,600. This asset presents an excellent opportunity for an owner-user or investor seeking stable rental income, rental upside, and long-term appreciation in a strong Long Beach rental market.

2250 Magnolia, Long Beach

$1,600,000

PW26122313 MLS ⋅ Active Status

Well-Maintained 7-Unit Apartment Investment with Strong Cash Flow. Exceptional opportunity to acquire a well-maintained 7-unit apartment property located in Long Beach's desirable South Wrigley neighborhood. Situated on a 7,500 square foot lot with approximately 4,919 square feet of improvements, this income-producing asset offers strong in-place cash flow, recent capital improvements, and immediate upside potential. The property consists of two upstairs 1-bedroom/1-bath units, four downstairs 1-bedroom/1-bath units, and one spacious downstairs 2-bedroom/1-bath unit. One of the upstairs has been updated with new luxury vinyl plank flooring and refreshed interior finishes. Several units are currently being utilized with additional rooms beyond their original layouts. Four of the downstairs 1-bedroom units are being used as 2-bedroom units, while the larger downstairs unit is currently utilized as a 3-bedroom unit. Ownership has completed numerous capital improvements, including electrical service upgrades in 2025, copper repiping of the upstairs units, replacement of gas lines, installation of a copper main water supply line, and ongoing roof maintenance. Each unit is individually metered for gas and electricity, helping reduce owner-paid utility expenses and improve operating efficiency. The property currently generates approximately $13,075 per month in gross rental income and is offered at an attractive 6.4% cap rate and 10.20 gross rent multiplier (GRM) based on current operations. Investors may benefit from favorable financing options, with the property potentially qualifying for financing with approximately 25% down. Additional amenities include four garages, on-site parking, and a desirable courtyard-style layout that enhances tenant appeal. Conveniently located near Pacific Coast Highway, Downtown Long Beach, public transportation, shopping, dining, and major employment centers, this property is well-positioned to benefit from continued rental demand and long-term appreciation. This is a rare opportunity to acquire a stabilized multifamily investment offering strong current returns, recent capital improvements, vacancy upside, and significant long-term growth potential.

1876 Henderson Avenue, Long Beach

$1,700,000

SB26104278 MLS ⋅ Active Status

We are proud to present 1922 Locust Avenue, an 8-unit apartment building located in the South Wrigley submarket of Long Beach. This asset is currently operating at a 7.25% Cap Rate and a 9.59 GRM! Priced at just $212k/unit, this investment offers a compelling mix of immediate cash flow and long-term upside in a rapidly developing market. The property is comprised of (8) 1-Bed/1-Bath units, with five recently remodeled. Three units are currently vacant and rent-ready, offering the perfect opportunity for an owner-user or investor to quickly add value. Situated just outside the booming Downtown Long Beach core, 1922 Locust Ave is primed to benefit from over $6 Billion in local investment, including transformational projects like the Long Beach Civic Center, Queen Mary Island, CSULB Downtown Village, Broadway Block, and the Ocean Aire Development.

1922 Locust, Long Beach

$975,000

PW26071898 MLS ⋅ Active Status

We are pleased to present a 4-unit multifamily property. Built in 1928 originally as a triplex, the subject property consists of 2,351 rentable square feet spread throughout a 6,258 square foot lot. The property consists of a Two Bedroom + Den / One Bathroom House with 2 Existing One Bedroom / One Bathroom Units and 1 Brand new One Bedroom ADU. It contains three garages and one storage space.

2129 Locust, 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.