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953 E Carson St 6 Unit Apartment Building $1,605,000 ($267,500/Unit) 5.28% Cap Rate Long Beach, CA 90807
Investment Highlights
- Well-maintained six-unit apartment building in Long Beach’s affluent Bixby Knolls neighborhood
- Property features four single-car garages and laundry facilities
- Proximate to Virginia Country Club, walkable to Atlantic Avenue dining options, less than a mile to a Trader Joe’s and other popular retailers
- Desirable mix of 3 2BD/1BA and 3 1BD/1BA units with interiors that blend period charm like hardwood floors and built-ins with select upgrades
- 20 Percent potential upside in rents
Executive Summary
Marcus & Millichap is pleased to present to market 953 East Carson Street, a six-unit apartment building in Long Beach’s desirable Bixby Knolls neighborhood. Situated on a corner lot at the intersection of Carson Street and California Avenue, this well-maintained asset boasts attractive curb appeal, a desirable mix of three two-bed/one-bath and three one-bed/one-bath units, four single-car garages, and laundry facilities. The property is a 1948 construction that blends period charm, including hardwood floors and built-ins, with select interior upgrades.
953 East Carson Street is conveniently near popular retailers and restaurants, walkable to Atlantic Avenue dining options (Jamba Juice, Coffee Bean, Lola’s, and more) and less than a mile to Trader Joe’s. This location also offers convenient freeway proximity, with the 405 Freeway less than five minutes away. With an average household income over $137,000, this neighborhood has a strong tenant base.
Current rents are 20 percent below market, offering a new investor meaningful upside potential in a desirable neighborhood.
953 East Carson Street is conveniently near popular retailers and restaurants, walkable to Atlantic Avenue dining options (Jamba Juice, Coffee Bean, Lola’s, and more) and less than a mile to Trader Joe’s. This location also offers convenient freeway proximity, with the 405 Freeway less than five minutes away. With an average household income over $137,000, this neighborhood has a strong tenant base.
Current rents are 20 percent below market, offering a new investor meaningful upside potential in a desirable neighborhood.
Financial Summary (Actual - 2026) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2026) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $1,605,000 | Property Subtype | Apartment |
| Price Per Unit | $267,500 | Apartment Style | Low-Rise |
| Sale Type | Investment | Building Class | C |
| Cap Rate | 5.28% | Lot Size | 0.15 AC |
| Gross Rent Multiplier | 11.91 | Building Size | 5,469 SF |
| No. Units | 6 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1948 |
| Zoning | LBR3S - Multiple Dwelling | ||
| Price | $1,605,000 |
| Price Per Unit | $267,500 |
| Sale Type | Investment |
| Cap Rate | 5.28% |
| Gross Rent Multiplier | 11.91 |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.15 AC |
| Building Size | 5,469 SF |
| No. Stories | 2 |
| Year Built | 1948 |
| Zoning | LBR3S - Multiple Dwelling |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 3 | - | - |
| 2+1 | 3 | - | - |
1 1
Moderately walkable
60/100
Very drivable
80/100
Some public transit
40/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 7138-011-012 | Total Assessment | $527,816 (2025) |
| Land Assessment | $158,567 (2025) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $369,249 (2025) | Tax Year | 2026 |
Property Taxes
Parcel Number
7138-011-012
Land Assessment
$158,567 (2025)
Improvements Assessment
$369,249 (2025)
Total Assessment
$527,816 (2025)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2026
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953 E Carson St
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