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613-627 W 4th St 10 Unit Apartment Building $2,100,000 ($210,000/Unit) 5.13% Cap Rate Long Beach, CA 90802
Investment Highlights
- Two Adjacent Parcels totaling 10 units include 9 single-story cottage units and 1 detached single-family residence positioned on adjacent lots.
- Cottage-Style Configuration with private entrances creates a low-density residential environment that differentiates the property.
- Recent Capital Improvements including roof replacements in 2020 & 2021 along with 5 recently replaced water heaters.
- Diverse Unit Mix featuring 1 studio, 5 one-bedroom units, 3 two-bedroom units, and 1 three-bedroom unit.
- Detached Single-Family Home with spacious backyard is complemented by 3 private garages featuring gated frontage areas.
- Walkable Downtown Long Beach Location Near Major Employers supports consistent rental demand from government, healthcare, and portrelated industries.
Executive Summary
The Leeson Group of Marcus & Millichap is pleased to present 613 - 627 West 4th Street, a unique 10-unit multifamily investment opportunity situated on two adjacent parcels in Downtown Long Beach, California.
The offering consists of a 9-unit cottage-style apartment community and a detached single-family residence located on the neighboring parcel. The cottage parcel features single-story construction with individual entrances, creating a low-density residential layout that differs from traditional corridor-style multifamily properties. The adjacent parcel is improved with a single-family home featuring a spacious backyard. At the rear of the lot are three private garages with gated areas in front, providing additional parking or storage space.
Originally constructed between 1901 and 1918, the property offers a diverse unit mix consisting of 1 studio unit, 5 one-bedroom/one-bath units, 2 two-bedroom/one-bath units, 1 two-bedroom/one-and-one-half-bath unit, and 1 three-bedroom/two-bath unit. The variety of floor plans allows the property to appeal to a broad tenant base within the Downtown Long Beach rental market.
Ownership has completed several recent capital improvements, including roof replacements in 2020 and 2021 and five recently replaced water heaters. Additional interior upgrades and unit improvements have been completed across multiple units in 2025 and 2026, including flooring replacement, interior painting, kitchen counter reglazing, and various unit turn improvements.
613 - 627 West 4th Street is located within walking distance of major Downtown Long Beach employers and neighborhood amenities, supporting consistent rental demand. The property is also just over half a mile from Mosaic, the large-scale redevelopment of the former City Place site that is introducing new residential, retail, and commercial space to the area. Residents benefit from convenient access to Interstate 710, the Metro A Line, and the nearby Port of Long Beach, one of the region’s largest employment hubs.
*Drive by only. Do not walk the property or disturb the residents. Please contact the Listing Agent(s).*
The offering consists of a 9-unit cottage-style apartment community and a detached single-family residence located on the neighboring parcel. The cottage parcel features single-story construction with individual entrances, creating a low-density residential layout that differs from traditional corridor-style multifamily properties. The adjacent parcel is improved with a single-family home featuring a spacious backyard. At the rear of the lot are three private garages with gated areas in front, providing additional parking or storage space.
Originally constructed between 1901 and 1918, the property offers a diverse unit mix consisting of 1 studio unit, 5 one-bedroom/one-bath units, 2 two-bedroom/one-bath units, 1 two-bedroom/one-and-one-half-bath unit, and 1 three-bedroom/two-bath unit. The variety of floor plans allows the property to appeal to a broad tenant base within the Downtown Long Beach rental market.
Ownership has completed several recent capital improvements, including roof replacements in 2020 and 2021 and five recently replaced water heaters. Additional interior upgrades and unit improvements have been completed across multiple units in 2025 and 2026, including flooring replacement, interior painting, kitchen counter reglazing, and various unit turn improvements.
613 - 627 West 4th Street is located within walking distance of major Downtown Long Beach employers and neighborhood amenities, supporting consistent rental demand. The property is also just over half a mile from Mosaic, the large-scale redevelopment of the former City Place site that is introducing new residential, retail, and commercial space to the area. Residents benefit from convenient access to Interstate 710, the Metro A Line, and the nearby Port of Long Beach, one of the region’s largest employment hubs.
*Drive by only. Do not walk the property or disturb the residents. Please contact the Listing Agent(s).*
Financial Summary (Actual - 2026) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$196,380
|
$30.85
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$5,891
|
$0.93
|
| Effective Gross Income |
$190,489
|
$29.92
|
| Taxes |
$26,651
|
$4.19
|
| Operating Expenses |
$56,041
|
$8.80
|
| Total Expenses |
$82,692
|
$12.99
|
| Net Operating Income |
$107,797
|
$16.93
|
Financial Summary (Actual - 2026)
| Gross Rental Income | |
|---|---|
| Annual | $196,380 |
| Annual Per SF | $30.85 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | $5,891 |
| Annual Per SF | $0.93 |
| Effective Gross Income | |
|---|---|
| Annual | $190,489 |
| Annual Per SF | $29.92 |
| Taxes | |
|---|---|
| Annual | $26,651 |
| Annual Per SF | $4.19 |
| Operating Expenses | |
|---|---|
| Annual | $56,041 |
| Annual Per SF | $8.80 |
| Total Expenses | |
|---|---|
| Annual | $82,692 |
| Annual Per SF | $12.99 |
| Net Operating Income | |
|---|---|
| Annual | $107,797 |
| Annual Per SF | $16.93 |
Property Facts
| Price | $2,100,000 | Apartment Style | Garden |
| Price Per Unit | $210,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.43 AC |
| Cap Rate | 5.13% | Building Size | 6,366 SF |
| Gross Rent Multiplier | 10.69 | No. Stories | 1 |
| No. Units | 10 | Year Built | 1907 |
| Property Type | Multifamily | Parking Ratio | 1.26/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Zoning | LBPD30 - Long Beach Planned Development | ||
| Price | $2,100,000 |
| Price Per Unit | $210,000 |
| Sale Type | Investment |
| Cap Rate | 5.13% |
| Gross Rent Multiplier | 10.69 |
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.43 AC |
| Building Size | 6,366 SF |
| No. Stories | 1 |
| Year Built | 1907 |
| Parking Ratio | 1.26/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | LBPD30 - Long Beach Planned Development |
Amenities
Unit Amenities
- Yard
- Patio
Site Amenities
- Courtyard
- Fenced Lot
- Gated
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 1 | - | 451 |
| 1+1 | 5 | - | 550 |
| 2+1 | 2 | - | 625 |
| 2+1.5 | 1 | - | 625 |
| 3+2 | 1 | - | 1,290 |
1 1
Moderately walkable
60/100
Very drivable
80/100
Good public transit
60/100
Moderately bikeable
70/100
Property Taxes
| Parcel Number | 7278-025-026 | Total Assessment | $1,250,439 (2025) |
| Land Assessment | $796,186 (2025) | Annual Taxes | $26,651 ($4.19/SF) |
| Improvements Assessment | $454,253 (2025) | Tax Year | 2026 Payable 2026 |
Property Taxes
Parcel Number
7278-025-026
Land Assessment
$796,186 (2025)
Improvements Assessment
$454,253 (2025)
Total Assessment
$1,250,439 (2025)
Annual Taxes
$26,651 ($4.19/SF)
Tax Year
2026 Payable 2026
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613-627 W 4th St
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