117 W 9th Street, Long Beach, CA 90813
Local realty services provided by:CENTURY 21 Sierra Properties
117 W 9th Street,Long Beach, CA 90813
$1,299,900
- 10 Beds
- - Baths
- 3,240 sq. ft.
- Multi-family
- Active
Listed by: kory jackson
Office: exp realty of california inc
MLS#:CL26870367
Source:Bay East, CCAR, bridgeMLS
Price summary
- Price:$1,299,900
- Price per sq. ft.:$401.2
About this home
RARE 4-UNIT OWNER-USER, VALUE-ADD & PORTFOLIO OPPORTUNITY! Offered at $1,399,900, 117 W. 9th Street presents a unique opportunity to acquire a Long Beach multifamily property with TWO VACANT 2-BEDROOM UNITS. 50% OF THE PROPERTY AVAILABLE FOR IMMEDIATE OCCUPANCY OR LEASE-UP! The two currently occupied units generate $3,355 per month / $40,260 annually, with existing rents of $1,995 and $1,360. This provides established income from day one while leaving TWO 2-BEDROOM UNITS VACANT and available for a new owner to immediately reposition, improve, occupy, or lease at current market rents, subject to applicable laws. For an OWNER-USER, the opportunity is particularly compelling: occupy one of the vacant 2-bedroom units while receiving rental income from the occupied units and retaining an additional vacant 2-bedroom unit for future rental income. For an INVESTOR, 50% vacancy creates the opportunity to immediately address a significant portion of the property's income potential rather than waiting for existing tenants to vacate. Current annual operating expenses are approximately $17,390, with current NOI of approximately $22,870 BEFORE ANY INCOME FROM THE TWO VACANT UNITS. The property's current financial performance therefore reflects only 50% physical occupancy and should be evaluated together with the potential income available through lease-up of the two vacant units. Multiple strategies are available: OWNER-OCCUPY, LEASE-UP, RENOVATE, VALUE-ADD, HOLD, or 1031 EXCHANGE. Existing income + two vacant 2-bedroom units + immediate control of 50% of the units creates a compelling opportunity for a buyer seeking long-term upside. PORTFOLIO SALE: 117 W. 9th Street is being offered as part of a portfolio sale together with 1089 E. 7th Street, Long Beach, providing an opportunity to acquire multiple Southern California multifamily assets. Contact listing agent for portfolio details and terms.1031 EXCHANGE: Seller intends to complete an IRC Section 1031 Tax-Deferred Exchange. Buyer to cooperate with Seller's 1031 Exchange at no cost or liability to Buyer. Buyer to independently verify all rents, expenses, vacancies, market rents, square footage, unit configuration, permits, zoning, financial information, and owner-occupancy requirements....
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Home facts
- Year built:1918
- Listing ID #:CL26870367
- Added:35 day(s) ago
- Updated:October 06, 2026 at 02:37 PM
Rooms and interior
- Bedrooms:10
- Living area:3,240 sq. ft.
Heating and cooling
- Heating:Natural Gas
Structure and exterior
- Year built:1918
- Building area:3,240 sq. ft.
- Lot area:0.06 Acres
- Construction Materials:Stucco
Finances and disclosures
- Price:$1,299,900
- Price per sq. ft.:$401.2
Features and amenities
- Amenities:Smoke Detector(s)
Parking
- Parking description:Street Parking
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