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1407 Obispo Avenue, Long Beach, CA 90804

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For Sale
Sale Pending

$1,380,000

10 beds • 6 baths • 5,272 sqft

Estimated Payment

$      /mo. †

APR for 30 years

Change Loan Terms

  • Multi-Family (2-4 Units)
    Property type

  • $261.76
    Price per square foot

  • Over 50 Years Old
    Age

Explore this Property

1407 Obispo Avenue is a 6-unit multifamily offering located in the heart of Long Beach s Eastside neighborhood. The property consists of a front fourplex with (4) 2-bedroom, 1-bath units, each featuring in-unit laundry, and a rear duplex with (2) 1-bedroom, 1-bath units positioned above four single-car garages. The garage structure presents a future opportunity for ADU conversion or added income (buyer to verify). With current rents approximately 27% below market and an attractive price per square foot of just $282, this asset offers immediate upside through strategic renovations and tenant turnover. The property is priced at a 12.06 GRM on existing income, with a projected 9.49 GRM at market rents, offering a compelling return profile in a supply-constrained submarket. Residents benefit from proximity to Pacific Coast Highway retail, Recreation Park, Long Beach City College, and the shops and dining along Retro Row. With rising housing costs and ongoing demand for well-located rental units, 1407 Obispo Avenue offers a rare opportunity to acquire a value-add asset with strong long-term upside.
MLS# NP25096923

Courtesy Of Compass

(949) 438-4340

Property Features

  • Age
    Over 50 Years Old
  • Architecture Style
    Other

Map and Directions

Directions to 1407 Obispo Avenue, Long Beach, CA 90804

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† Based on a 30-year fixed rate of 3.38% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Interest rates are also subject to credit and property approval based on secondary market guidelines. The rates shown are based on average rates for our best qualified customers. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

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