Property Details
About 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 Listing Information
MLS #
CRNP25096923
MLS Source
California Regional MLS
Days on Site
15
Interior Features
Laundry
None
Parking, School, and Other Information
Garage/Parking
Garage: 4 Car(s)
Contact Information
Listing Agent
Kacey Taormina
Compass
License #: 01920673
Phone: –
Co-Listing Agent
Aspen Labrador
License #: 02146663
Phone: –
Unit Information
| # Buildings | # Leased Units | # Total Units |
|---|---|---|
| 2 | 6 | – |
Neighborhood: Around This Home
Neighborhood: Local Demographics
Nearby Homes for Sale
1407 Obispo Ave is a Residential Income in Long Beach, CA 90804. This – square foot property sits on a 7,429 Sq Ft Lot and features – bedrooms & – full bathrooms. It is currently priced at $1,486,000 and was built in 1929. This address can also be written as 1407 Obispo Ave, Long Beach, CA 90804.
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This listing information is up-to-date as of May 08, 2025. For the most current information, please contact Kacey Taormina
