1403 Lemon Ave 5 Unit Apartment Building $1,195,000 ($239,000/Unit) 8.51% Cap Rate Long Beach, CA 90813

Motivated Seller! 2 units currently vacant (SEE IMPORTANT COMMENTS BELOW) Rents will increase benefitting Landlord. Welcome to 1403 Lemon Avenue, an outstanding multifamily investment located in the vibrant, rapidly appreciating area of Long Beach, California. This well-positioned five-unit income property offers investors a rare blend of strong in-place cash flow, potential for long-term value appreciation, and the benefit of 100% occupancy—all in one of Southern California’s most dynamic coastal cities. *Two of the existing under market rental units will be vacant soon, so new owner can can implement the upside potential of the current rental market value.
Positioned on a 6,519 square foot lot, the property consists of five distinct units with a combined living area of approximately 2,700 square feet. The unit mix includes:
• One detached 4-bedroom, 2-bath front house, offering the feel and privacy of a single-family residence.
• One 4-bedroom, 1-bath unit, perfect for larger households or shared living scenarios.
• Three 2-bedroom, 1-bath units, ideal for small families, professionals, or long-term tenants.
This unit diversity not only maximizes rental appeal across a broad demographic but also minimizes vacancy risk, ensuring a reliable income stream for the savvy investor.
Also check out: 433 W 9th Street presents a rare opportunity to acquire a classic four-unit building with exceptional upside. Each of the four spacious units offers a well-designed 4-bedroom, 1-bathroom layout, averaging approximately 1,254 sq. ft. (buyer to verify), providing generous living spaces ideal for families, shared housing, or long-term tenants.
1403 Lemon - Important – Please Read Before Inquiring!
Price is firm and non-negotiable. The seller will not consider reductions, credits, concessions, or repairs. Property is sold strictly AS-IS, and the seller will not entertain requests before or after inspections. Only qualified buyers who accept these terms should proceed.
Tenant-occupied where applicable. 24-hour notice required. Showings scheduled only for pre-qualified buyers who confirm acceptance of the firm price and AS-IS terms prior to showing.
Current & Projected Monthly Rents (1403 Lemon):
• 1403 (main): $3,009
• Unit B: $2,657
• Unit C: $2,200
• Unit A: Vacant, projected $2,200 upon completion
• Unit D: Vacant, projected $2,200 upon completion
Also Available Separately: A second property on 9th Street is being offered as a separate purchase for $1,300,000 (see rent details below).
9th Street (Separate building, separate $1.3M price) -Important – Please Read Before Inquiring!
Price is firm and non-negotiable. The seller will not consider reductions, credits, concessions, or repairs. Property is sold strictly AS-IS, and the seller will not entertain requests before or after inspections. Only qualified buyers who accept these terms should proceed.
Tenant-occupied. 24-hour notice required. Showings scheduled only for pre-qualified buyers who confirm acceptance of the firm price and AS-IS terms prior to showing.
Current Monthly Rents (9th Street):
• 433: $2,682.72
• 435: $2,624.40
• 437: $2,624.40
• 439: $2,624.40