405-411 1/2 E Esther St - Apartments FOR SALE


Long Beach, CA 90813- Downtown Long Beach
$1,925,000 USD
310-387-3489
405-411 1/2 E Esther St, Long Beach, CA for Sale
$1,925,000 USD
Apartments - FOR SALE
1/29
null | 6.36% Cap Rate

405-411 1/2 E Esther St
Long Beach, CA 90813
Downtown Long Beach


HIGHLIGHTS

  • Immediate Cash Flow: Fully occupied with a stable tenant base, delivering a 6.36% cap rate on actual operations from day one
  • Attractive Unit Mix: Larger floor plans, including 6-bedroom, 3-bedroom, and 2-bedroom units, support strong demand from families and shared household
  • Value-Add Upside: Current rents below market, providing meaningful potential to increase NOI through gradual turnover and strategic interior upgrades

OVERVIEW

405 E. Esther Street is a well-maintained, cash-flowing seven-unit multifamily asset located in a desirable Long Beach neighborhood with strong rental demand. The property features a highly attractive unit mix comprised of one (1) spacious 6BD/2BA unit, three (3) 3BD/1BA units, two (2) 2BD/1BA units, and one (1) 1BD/1BA unit. The property also has a driveway with three parking spaces. Fully occupied with long-term, reliable residents, the investment offers immediate, durable income for new ownership while still providing the opportunity to capture significant rental upside through natural turnover and strategic renovations. The property presents an ideal blend of in-place stability and value-add potential in one of Southern California’s most consistent and resilient rental markets.

FOR SALE DETAILS

PRICE

$1,925,000 USD

PRICE/SF

$453 USD /SF

# OF UNITS

7

PRICE/UNIT

$275,000

CAP RATE

6.36%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1923

PARKING SPACES

6

LAND DETAILS

LAND ACRES

0.15 AC

LAND SF

6,534 SF

ZONING

PD29, Long Beach

APN/PARCEL ID

7269-020-023

ASK ABOUT THIS PROPERTY

John AldenDover Management CorporationMore Info
310-387-3489

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John AldenDover Management CorporationMore Info
310-387-3489

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