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About This Home
This 16-bedroom, 16-bathroom residential multi family at 1148 Stanley Ave in Long Beach, CA is listed for $2,295,000 ($368 per sqft). Built in 1986, the home offers 6,240 sqft of living space on a 0.15 acres lot.
PRICED TO SELL - 10X GRM AND 6.5% CAP AT MARKET RENTS for 1980's construction in Long Beach. Earn over a 8% Cash on Cash Return. 8 units in Long Beach subject to AB 1482 rent control - maximum annual increase of 5% + CPI (currently 8.0% total). Built in 1987 the property is professionally managed and well maintained.
Building was recently painted as well. All units are 2 bed/2bath and have updated kitchens, baths and flooring. 12 onsite parking for 8 units as well as onsite laundry. This property is perfect for someone looking for a low management asset. It also has approx.
14% rental upside to a 10 GRM and 6.7% CAP at market rents. There is onsite laundry onsite. The electrical is Siemens - it's a 200 AMP main panel with 60 AMP subpanels (Buyer to verify). Plumbing is copper (Buyer to verify). Qualified Buyers can obtain a 5 year loan fixed at 5.05%, Interest Only.
Anduril Industries, a cutting-edge defense technology company specializing in AI applications announced that it is commencing a $1 billion redevelopment of land adjacent to the LB Airport. The project is planned to be completed in mid-2027 and is expected to create 5,500 new direct jobs at the site plus thousands of indirect construction and supply-chain service jobs. And the city just approved a $38MM update of the Long Beach airport for the upcoming 2028 Olympics.
Key Features
- Built in 1986
- 0.15 acre lot
- 12 parking spaces
Property Details
Monthly Cost Estimate
$12,274/mo
20% down · 6.5% · 30 years
Estimates only. Actual payments may vary.
Location
1148 Stanley Ave
Long Beach, CA 90804
Property Details
Parking
Questions & Answers
This 16-bedroom, 16-bathroom residential multi family at 1148 Stanley Ave is listed at $2,295,000 ($368/sqft). The estimated monthly payment is $9,945 based on 20% down at 6.5% interest.
Key features include: Built in 1986, 0.15 acre lot, 12 parking spaces.
This property is listed by Jonathan Swire and can be reached at 3109482631 or jon@jonswire.com.
