1030 Myrtle Avenue, Long Beach, CA 90813

$1,550,000

bedrooms

bathrooms

square feet

3,040

Acreage

0.15002295684113867

Open Houses

year built

2005

Full Baths

Half Baths

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2005 construction and just outside of downtown Long Beach, this quadruplex has three large 3 bedroom 1 bathroom apartments, and one 1 bedroom 1 bathroom apartment. The strong income in place has this building at a GRM of 13.3X and a cap rate of 4.2%, and there is approximately 15% upside in the rents. The building features onsite laundry in select units, a large 2 car garage for each unit with extra parking on the driveway, and is separately metered for gas and electricity. There is a path to substantial upside via the conversion of some of the 8 garage spots to ADUs, as well as offsetting some of the expenses through the use of RUBS. The building is just 3 blocks North of Downtown Long Beach, with ongoing new developments of over $8 Billion. It offers excellent transit access only a few blocks to the metro blue line rail station, PCH, and the 710 freeway. Over 60% of households within 5 miles are renters with an average household income of over $94,000. (Per Costar)

Location
Subdivision	Other (OTHR)
County	Los Angeles
Elementary School	-
Middle School	-
High School	-

Exact location data not provided

Driving directions

Open houses

None scheduled.

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MLS number: SB25042498

Listing agent: Anthony Walker #01908153

Listing broker: Buckingham Investments, Inc. (562) 208-4890

Copyright © 2025 California Regional Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified. [source]

Last update: Tuesday, April 22 2025 at 2:55 p.m. EDT

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