1415-1425 Martin Luther King Jr Ave - Apartments FOR SALE


Long Beach, CA 90813- Downtown Long Beach
$2,499,000 USD
424-405-3826
1415-1425 Martin Luther King Jr Ave, Long Beach, CA for Sale
$2,499,000 USD
Apartments - FOR SALE
1/12
null | 6.78% Cap Rate

1415-1425 Martin Luther King Jr Ave
Long Beach, CA 90813
Downtown Long Beach


HIGHLIGHTS

  • Great opportunity to acquire a fourplex and a six-unit property (fourplex + duplex) on two contiguous parcels
  • 90% two- and three-bedroom units
  • Potential to build four ADU’s in the large parking lot of the 1415 MLK parcel (buyer to verify)
  • Electrical updated in 2025
  • Amenities include ample on-site parking and shared laundry
  • Offered at a 6.78% current cap rate

OVERVIEW

Marcus & Millichap is pleased to present to market the exciting opportunity to acquire two contiguous multifamily investment properties in Long Beach, California. This offering comprises 1415 Martin Luther King Jr. Avenue, a 1961 construction fourplex with all two-bed/one-bath units, and the adjacent 1425 Martin Luther King Jr. Avenue, a six-unit property consisting of a front duplex with a three-bed/two-bath unit and a one-bed/one-bath unit, as well as a rear fourplex with all two-bed/one-bath units. The property also offers on-site laundry and ample surface parking. The property is located in Long Beach’s Poly High neighborhood within easy walking distance of grocery stores and other amenities. Current rents offer a new investor eight percent potential upside, and there may be potential to develop four ADU’s in the large parking lot of 1415 Martin Luther King Jr. Ave (buyer to verify).

FOR SALE DETAILS

PRICE

$2,499,000 USD

PRICE/SF

$343 USD /SF

# OF UNITS

10

PRICE/UNIT

$249,900

CAP RATE

6.78%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1930

PARKING SPACES

10

LAND DETAILS

LAND ACRES

0.3 AC

LAND SF

13,037 SF

ZONING

R1N, Long Beach

APN/PARCEL ID

7268-013-016,7268-013-018

ASK ABOUT THIS PROPERTY

Steve BogoyevacMarcus & MillichapMore Info
424-405-3826

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Steve BogoyevacMarcus & MillichapMore Info
424-405-3826

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.