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(323) 864-4211
Linda Roth Burrell
1148 Stanley Ave, Long Beach, CA 90804
- $2,275,000
- 16
- BD
- 16
- BA
- 6,240
- SqFt
- Sold Price
- $2,275,000
- List Price
- $2,295,000
- Closing Date
- Jun 30, 2026
- MLS#
- 26825273
- Year Built
- 1986
- Bedrooms
- 16
- Bathrooms
- 16
- Living Sq. Ft
- 6,240
- Lot Size
- 6,627
- Days on Market
- 34
- Property Type
- Multifamily
- Stories
- 1
Property Description
PRICED TO SELL - 10X GRM AND 6.5% CAP AT MARKET RENTS for 1980's construction in Long Beach. Earn over a 8% Cash on Cash Return. 8 units in Long Beach subject to AB 1482 rent control - maximum annual increase of 5% + CPI (currently 8.0% total). Built in 1987 the property is professionally managed and well maintained. Building was recently painted as well. All units are 2 bed/2bath and have updated kitchens, baths and flooring. 12 onsite parking for 8 units as well as onsite laundry. This property is perfect for someone looking for a low management asset. It also has approx. 14% rental upside to a 10 GRM and 6.7% CAP at market rents. There is onsite laundry onsite. The electrical is Siemens - it's a 200 AMP main panel with 60 AMP subpanels (Buyer to verify). Plumbing is copper (Buyer to verify). Qualified Buyers can obtain a 5 year loan fixed at 5.05%, Interest Only. Anduril Industries, a cutting-edge defense technology company specializing in AI applications announced that it is commencing a $1 billion redevelopment of land adjacent to the LB Airport. The project is planned to be completed in mid-2027 and is expected to create 5,500 new direct jobs at the site plus thousands of indirect construction and supply-chain service jobs. And the city just approved a $38MM update of the Long Beach airport for the upcoming 2028 Olympics.
Additional Information
- Other Buildings
- None
- Heat
- Wall
- Cooling
- None
- Number of Cars in Garage
- Assigned, Attached
- Garage Spaces Total
- 12
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Courtesy of The Agency, Jonathan Swire - CA DRE#01336277 Selling Office: .
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