92 E Louise St 4 Unit Apartment Building Offered at $1,100,000 at a 6.58% Cap Rate Long Beach, CA 90805

INVESTMENT SUMMARY
Strong In-Place Cash Flow with Multiple Upside Opportunities 92 E. Louise Street presents the opportunity to acquire a well-maintained four-unit multifamily property offering strong in-place cash flow, meaningful rental upside, and additional long-term value creation potential in North Long Beach.
All Two-Bedroom Units with Significant Rental Upside
Built in 1953, the property consists entirely of two-bedroom/one-bath units, each approximately 740 square feet, providing a highly desirable and consistent unit mix with broad renter appeal. Current rents average approximately $2,138 per month, compared with nearby rent comparables averaging approximately $2,538 per month, demonstrating substantial embedded rental upside.
Significant Capital Improvements
The property has also benefited from several significant capital improvements, including new windows throughout the building, recent re-piping, exterior painting within the past three years, and a new electronic security gate. These improvements reduce near-term capital expenditure exposure while enhancing the property's overall functionality and tenant appeal.
Four Garages with Income & ADU Potential
The property's four detached garages and additional surface spaces present the opportunity to add immediate income through parking fees or convert garages to ADUs for future additional rental income (buyer to verify).
Attractive Basis Relative to Recent Sales
The offering compares favorably with recent four-unit sales in the surrounding market. At $275,000 per unit, 92 E. Louise is priced below the comparable-set average of approximately $306,750 per unit, while offering a substantially stronger going-in yield than the comparable average cap rate of approximately 5.32%.
Compelling Combination of Yield and Value Creation
For investors seeking strong current yield with identifiable upside, 92 E. Louise Street offers a compelling combination of in-place cash flow, below-market rents, an all-two-bedroom unit mix, recent capital improvements, and potential future ADU development—all at a basis below recent comparable four-unit sales.