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6641 Hammond Ave
Long Beach, CA 90805
Multifamily Property For Sale
·
4 Units
Investment Highlights
- Desirable unit mix comprised entirely of spacious 2 bed/1 bath units with in-unit laundry hookups and individual water heaters.
- Five surface parking spaces currently not separately monetized, providing potential additional income upside for new ownership.
- Located near Target, Food 4 Less, Lakewood Center, and major retail corridors with easy access to SR-91 and surrounding cities.
- Well-maintained 1959 construction featuring drought-resistant landscaping and approximately 3,000 rentable square feet.
- Rear parking area may offer ground-up ADU development potential, subject to city requirements and approval by authorities.
- Adjacent 4-unit property at 6645 Hammond Avenue also available, creating an opportunity for an 8-unit contiguous assemblage.
Executive Summary
Marcus & Millichap is pleased to present the opportunity to acquire 6641 Hammond Avenue, a 4-unit multifamily investment property located in Long Beach, California. Built in 1959, the property consists entirely of two-bed/one-bath units, offering a desirable and efficient unit mix in a supply-constrained Southern California rental market.
The offering is priced at an attractive 5.52% cap rate on current rents, with projected upside to a 6.77% cap rate on market rents. This provides investors with immediate in-place yield and a clear path to improved performance through continued rent growth and more efficient income management.
The property is situated on a 0.12-acre parcel and features approximately 3,000 net rentable square feet. Community amenities include in-unit laundry hookups, individual water heaters, and five surface parking spaces. The surface parking spaces are currently not separately monetized, providing a potential opportunity to create additional income through parking fees, subject to market demand and tenant considerations.
In addition to existing income upside, the rear parking area may offer ground-up Accessory Dwelling Unit (ADU) development potential. A new owner may be able to explore the addition of one or more accessory dwelling units to increase rentable square footage and long-term income, subject to Long Beach requirements, site constraints, parking considerations, and approval from the appropriate municipal authorities.
6641 Hammond Avenue benefits from a central Long Beach location with convenient access to surrounding employment centers, retail corridors, and neighboring cities including Paramount and Bellflower. Residents are just 0.60 miles from a Target and Food 4 Less anchored retail center along Cherry Avenue, providing convenient access to everyday shopping and essential services. The property is also located approximately 2.5 miles from Lakewood Center, one of the area’s major shopping destinations and employment hubs, offering a wide range of retail, dining, and service-oriented amenities.
Overall, 6641 Hammond Avenue represents an attractive Long Beach multifamily opportunity with strong in-place returns, market-rent upside, unmonetized parking income potential, and possible ADU upside.
*Drive by only. Do not walk the property or disturb the residents. Please contact the Listing Agent(s).*
The offering is priced at an attractive 5.52% cap rate on current rents, with projected upside to a 6.77% cap rate on market rents. This provides investors with immediate in-place yield and a clear path to improved performance through continued rent growth and more efficient income management.
The property is situated on a 0.12-acre parcel and features approximately 3,000 net rentable square feet. Community amenities include in-unit laundry hookups, individual water heaters, and five surface parking spaces. The surface parking spaces are currently not separately monetized, providing a potential opportunity to create additional income through parking fees, subject to market demand and tenant considerations.
In addition to existing income upside, the rear parking area may offer ground-up Accessory Dwelling Unit (ADU) development potential. A new owner may be able to explore the addition of one or more accessory dwelling units to increase rentable square footage and long-term income, subject to Long Beach requirements, site constraints, parking considerations, and approval from the appropriate municipal authorities.
6641 Hammond Avenue benefits from a central Long Beach location with convenient access to surrounding employment centers, retail corridors, and neighboring cities including Paramount and Bellflower. Residents are just 0.60 miles from a Target and Food 4 Less anchored retail center along Cherry Avenue, providing convenient access to everyday shopping and essential services. The property is also located approximately 2.5 miles from Lakewood Center, one of the area’s major shopping destinations and employment hubs, offering a wide range of retail, dining, and service-oriented amenities.
Overall, 6641 Hammond Avenue represents an attractive Long Beach multifamily opportunity with strong in-place returns, market-rent upside, unmonetized parking income potential, and possible ADU upside.
*Drive by only. Do not walk the property or disturb the residents. Please contact the Listing Agent(s).*
Property Facts
| Price Per Unit | $312,500 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.12 AC |
| Cap Rate | 5.52% | Building Size | 3,000 SF |
| Gross Rent Multiplier | 12.31 | Average Occupancy | 100% |
| No. Units | 4 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1959 |
| Property Subtype | Apartment | Parking Ratio | 1.67/1,000 SF |
| Zoning | LBR4N | ||
| Price Per Unit | $312,500 |
| Sale Type | Investment |
| Cap Rate | 5.52% |
| Gross Rent Multiplier | 12.31 |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.12 AC |
| Building Size | 3,000 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1959 |
| Parking Ratio | 1.67/1,000 SF |
| Zoning | LBR4N |
Amenities
Unit Amenities
- Washer/Dryer Hookup
Site Amenities
- Gated
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 4 | - | 750 |
Property Taxes
| Parcel Numbers | Improvements Assessment | $1,298,916 | |
| Land Assessment | $703,578 | Total Assessment | $2,002,494 |
Property Taxes
Parcel Numbers
Land Assessment
$703,578
Improvements Assessment
$1,298,916
Total Assessment
$2,002,494
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