Property Detail

Description

Spanish-style 8-unit apartment building located in the South Wrigley neighborhood of Long Beach. The property recently received a full exterior refresh and the interiors have been renovated at different times over the past five years. The building is in good condition with strong in-place rents, offering stable income and future upside. The property includes 8 garages at the rear that are currently unused and offer a new owner several opportunities to add value. A new owner could: Lease the garages for extra parking income, Convert the garages into ADUs, or take advantage of SB 1211, which may allow up to 8 new ADUs on the site (buyer to verify). If developed, 8 new studio ADUs rented at $1,500/month could add $144,000 in gross annual income. This property offers classic curb appeal, updated interiors, steady cash flow, and multiple opportunities to increase revenue.