241 Lindero AVE Long Beach, CA 90803
6,107 Sqft Lot
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Quadruplex
Listing Status Coming Soon
Purchase Type For Sale
Subdivision Bluff Heights
MLS Listing ID PW26062713
Construction Status Updated/Remodeled,Turnkey
HOA Y/N No
Year Built 1969
Lot Size 6,107 Sqft
Property Sub-Type Quadruplex
Property Description
This well-maintained 4-unit property consists of approximately 4,032 square feet of living space on a 6,109 square foot lot and was built in 1969. The property features a strong unit mix of one spacious 3-bedroom, 2-bath unit and three 2-bedroom, 1-bath units, spread across two levels.
One unit is currently vacant, offering immediate flexibility for an owner-occupant or the ability to lease at current market rent and increase cash flow. One of the units has been recently updated with a brand new kitchen, flooring, and bathroom, enhancing overall tenant appeal.
Recent improvements include a roof replacement completed within the past few years. The property is also scheduled for termite clearance and exterior painting, providing a refreshed and updated appearance for future ownership.
The rear of the property features two 2-car garages, with each unit assigned one garage space, plus an additional dedicated parking space for the 3-bedroom unit, totaling five parking spaces. Ample street parking adds further convenience, which is a valuable feature in this highly sought-after Long Beach location.
Priced at approximately $446 per square foot, this Long Beach multifamily property offers strong in-place income with upside potential. Based on current rents, the property is performing at approximately a 4.8% cap rate, with the ability to increase to roughly 6%+ once the vacant unit is leased at market rent.
Ideal for investors searching for a fourplex near the beach, a Long Beach income property with strong rental demand, or a value-add multifamily opportunity in one of the most desirable coastal communities in Los Angeles County.
Location
State CA
County Los Angeles
Area 2 - Belmont Heights, Alamitos Heights
Zoning LBR2A
Interior
Interior Features Ceiling Fan(s), Open Floorplan
Heating Radiant
Flooring Carpet, Laminate
Fireplaces Type None
Fireplace No
Appliance Electric Range, Free-Standing Range, Disposal, Range Hood, Water Heater
Laundry Common Area, Inside
Exterior
Parking Features Concrete, Door-Multi, Driveway, Garage, Garage Door Opener, Garage Faces Rear, One Space, Uncovered
Garage Spaces 4.0
Garage Description 4.0
Fence Block, Wood
Pool None
Community Features Curbs, Storm Drain(s), Street Lights, Sidewalks, Park
Utilities Available Electricity Connected, Natural Gas Connected, Phone Connected, Sewer Connected, Water Connected
View Y/N No
View None
Roof Type Composition
Accessibility No Stairs
Total Parking Spaces 5
Private Pool No
Building
Lot Description 2-5 Units/Acre, Front Yard, Near Park, Near Public Transit, Walkstreet
Story 2
Entry Level Two
Foundation Slab
Sewer Public Sewer
Water Public
Architectural Style Traditional
Level or Stories Two
New Construction No
Construction Status Updated/Remodeled,Turnkey
Others
Senior Community No
Tax ID 7263009009
Security Features Carbon Monoxide Detector(s),Smoke Detector(s)
Acceptable Financing Cash, Cash to New Loan, Conventional, FHA, VA Loan
Listing Terms Cash, Cash to New Loan, Conventional, FHA, VA Loan
Special Listing Condition Standard, Trust
