1126 Raymond Ave 8 Unit Apartment Building $2,320,000 ($290,000/Unit) 6% Cap Rate Long Beach, CA 90804

We are pleased to present 1126 Raymond Avenue, an eight-unit apartment building situated in Long Beach’s coveted Eastside/Rose Park submarket. Located minutes from 4th Street’s Retro Row, Belmont Shore, and the beach, with quick access to the 405, 605, and 22 freeways, the property benefits from one of Long Beach’s most established and supply-constrained rental corridors, where new multifamily product is virtually nonexistent.
Built in 1987, the property is composed entirely of eight (8) spacious 2-bedroom/2-bathroom units, a rare and highly desirable layout in a Long Beach rental market dominated by smaller 1+1 product. Each unit features a private balcony with views of Signal Hill, a dishwasher, and an individual water heater, while the upstairs units are further enhanced by 11+ foot vaulted ceilings that elevate the living experience. The asset is fully occupied, generating stable in-place income on 6,336 square feet of building area sitting on a 6,504 square foot lot. The current ownership has maintained the property well, completing a new roof and full exterior paint in 2025, and units are separately metered for gas and electricity, keeping operating expenses tight.
A standout feature is the twelve (12) on-site garage spaces, equating to 1.5 stalls per unit, an exceptional ratio that drives both tenant demand and ancillary income potential. The property further benefits from an on-site laundry room, providing an additional income stream. The post-1980 vintage is itself a scarcity play, as only 11.7% of Long Beach's 5- to 50-unit apartment buildings were built in 1980 or later, insulating the asset from the deferred-maintenance, costly-retrofit profile that defines the city's pre-war stock. 1126 Raymond Avenue offers investors an improved, well-maintained asset with rent upside in one of Long Beach's most resilient coastal-adjacent submarkets.