# 1059 Gladys, Long Beach, CA 90804

> **TL;DR:** 1bd/1ba commercial, $2,295,000, built 1923. Est. $12,274/mo. Listed 2 days.

## Property at a Glance

| Attribute | Value |
|-----------|-------|
| Price | $2,295,000 |
| Bedrooms | 1 |
| Bathrooms | 1 full |
| Year Built | 1923 |
| Lot Size | 6,504 sqft (0.15 acres) |
| Stories | 2 |
| Property Type | Commercial (Other) |
| Status | Active |
| Days on Market | 2 |

## Estimated Monthly Costs

| Category | Amount |
|----------|--------|
| Principal & Interest (20% down, 30-year at 6.5%) | $11,605 |
| Estimated Insurance | $669 |
| **Total** | **$12,274** |

## Property Highlights

- Built in 1923
- 0.15 acre lot
- 2 stories

## Description

### Agent Description
1059 Gladys Avenue presents the opportunity to acquire a 12-unit multifamily property in popular Eastside Long Beach. The property offers all 1BD/1BA units (two are renovated) with on-site laundry facilities. Electricity is separately metered, while gas is master-metered with one water heater. The assumable financing is particularly compelling: approximately $1.451 million at a fixed 3.57% interest rate, representing roughly 63% LTV and fully amortizing over the remaining loan term. Annual debt service is ~$78,870. In the current interest-rate environment, this low cost of debt is a significant investment advantage. At the $2.295 million asking price, the property produces approximately $126,809 in current NOI, equating to a 5.53% current cap rate. Because the going-in cap rate is substantially higher than the 3.57% mortgage rate, investors benefit from meaningful positive leverage. After debt service, the property is projected to generate approximately $47,939 in annual pre-tax cash flow, providing a 5.68% current cash-on-cash return on the approximately $844,000 down payment. Eastside Long Beach is a well-established and highly desirable rental neighborhood, offering residents a compelling combination of walkability, affordability and proximity to the city's coastal lifestyle and major employment centers. The property benefits from a Walk Score of 93 ("Walker's Paradise"), with numerous shopping, dining and everyday conveniences within a short walk. The neighborhood also provides convenient access to Downtown Long Beach, Belmont Heights, Recreation Park, Colorado Lagoon and the beach, while California State University, Long Beach and Long Beach City College are both within approximately three miles.

## Location

- **Address:** 1059 Gladys, Long Beach, CA 90804
- **County:** Los Angeles
- **Neighborhood:** Eastside (ES)
- **Coordinates:** 33.780084, -118.158316
- **Google Maps:** https://www.google.com/maps?q=33.780084,-118.158316

## Listing Agent

- **Name:** Robert Stepp · **License:** 01456379
- **Brokerage:** Keller Williams Realty SELA
- **Phone:** 3104632916
- **Broker Phone:** (562) 334-1511
- **Listing URL:** [View original listing](https://listings.listhub.net/pages/MRMLSCA/PW26200874/?channel=propsimple)

## Photos

![1059 Gladys - Photo 1](http://lh.rdcpix.com/9a92aeed9bc1b27b3e665616d21e7a5bl-f4271020463r.jpg)

![1059 Gladys - Photo 2](http://lh.rdcpix.com/9a92aeed9bc1b27b3e665616d21e7a5bl-f947249590r.jpg)

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![1059 Gladys - Photo 23](http://lh.rdcpix.com/9a92aeed9bc1b27b3e665616d21e7a5bl-f540809984r.jpg)

![1059 Gladys - Photo 24](http://lh.rdcpix.com/9a92aeed9bc1b27b3e665616d21e7a5bl-f724840772r.jpg)

![1059 Gladys - Photo 25](http://lh.rdcpix.com/9a92aeed9bc1b27b3e665616d21e7a5bl-f1809900197r.jpg)

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![1059 Gladys - Photo 31](http://lh.rdcpix.com/9a92aeed9bc1b27b3e665616d21e7a5bl-f2057286291r.jpg)

![1059 Gladys - Photo 32](http://lh.rdcpix.com/9a92aeed9bc1b27b3e665616d21e7a5bl-f3482161208r.jpg)

![1059 Gladys - Photo 33](http://lh.rdcpix.com/9a92aeed9bc1b27b3e665616d21e7a5bl-f3894018728r.jpg)

![1059 Gladys - Photo 34](http://lh.rdcpix.com/9a92aeed9bc1b27b3e665616d21e7a5bl-f2904332312r.jpg)

![1059 Gladys - Photo 35](http://lh.rdcpix.com/9a92aeed9bc1b27b3e665616d21e7a5bl-f1224675046r.jpg)

![1059 Gladys - Photo 36](http://lh.rdcpix.com/9a92aeed9bc1b27b3e665616d21e7a5bl-f3307759706r.jpg)

![1059 Gladys - Photo 37](http://lh.rdcpix.com/9a92aeed9bc1b27b3e665616d21e7a5bl-f1268388374r.jpg)

![1059 Gladys - Photo 38](http://lh.rdcpix.com/9a92aeed9bc1b27b3e665616d21e7a5bl-f3926275171r.jpg)

![1059 Gladys - Photo 39](http://lh.rdcpix.com/9a92aeed9bc1b27b3e665616d21e7a5bl-f1032366340r.jpg)

![1059 Gladys - Photo 40](http://lh.rdcpix.com/9a92aeed9bc1b27b3e665616d21e7a5bl-f2960396235r.jpg)

![1059 Gladys - Photo 41](http://lh.rdcpix.com/9a92aeed9bc1b27b3e665616d21e7a5bl-f3537267315r.jpg)

![1059 Gladys - Photo 42](http://lh.rdcpix.com/9a92aeed9bc1b27b3e665616d21e7a5bl-f3143733610r.jpg)

![1059 Gladys - Photo 43](http://lh.rdcpix.com/9a92aeed9bc1b27b3e665616d21e7a5bl-f805359255r.jpg)

![1059 Gladys - Photo 44](http://lh.rdcpix.com/9a92aeed9bc1b27b3e665616d21e7a5bl-f1079771491r.jpg)

![1059 Gladys - Photo 45](http://lh.rdcpix.com/9a92aeed9bc1b27b3e665616d21e7a5bl-f279724153r.jpg)

---

**MLS#:** PW26200874 | **Updated:** 2026-09-15
**Source:** listhub

*Copyright © 2026 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.*

[View on PropertySimple](https://www.propertysimple.ai/listing/1059-gladys-long-beach-ca-90804-26200874)

---

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