Listed by BUCKINGHAM INVESTMENTS
$1,350,000
679 Obispo Ave, Long Beach
Details
Property Type Multifamily
Sub Type Apartment Building
Square Footage 3,176
Units 6
Cap Rate 4.70%
NOI $63,688
Occupancy 100%
Tenancy Multi
Pro-Forma Cap Rate 5.60%
Pro-Forma NOI $74,950
Price per SqFt $425
Year Built 1930
Buildings 2
Lot Size (SqFt) 4,001
Zoning LBCNR
Parking Spaces 6 spaces
Parking Per SqFt 1.89
Investment Type Stabilized
Multifamily | 6 Units | $337,500/unit
Marketing description
Nestled between the Rose Park and Bluff Heights neighborhoods of Long Beach, 2 blocks away from 4th Street Retro Row including popular restaurants, shops and bars. Just over 1 mile away from the beach with pedestrian access to the scenic Shoreline Bike Path. Long Beach will host 18 events during the upcoming LA28 Olympics, including several taking place right on the beach.
Investment highlights
- Perfectly located Historic Rose Park South four unit property on the market for the first time in nearly 25 years.
- Excellent unit mix with two large 2 bed/1 bath units and two 1 bed/1 bath units full of historic charm and natural light, all with recently updated interiors.
- Deep lot with a detached 3 car garage plus 3 parking spaces, and a rear patio ideal for ADU development.
- Well priced on actual income at 12.5X GRM plus a 12% upside to 11.2X GRM and 5.6% cap rate at market rents.
- Separately metered for gas and electricity
Listing Contacts
Listed by BUCKINGHAM INVESTMENTS
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$63,688.00
$5,307.33/mo
Valuation Metrics
0
DSCR
4.72%
Cap Rate
4.72%
ROI
Map
Zoning
CNR MixedMixed UseNeighborhood Commercial And Residential
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View all 155 uses Last updated May 8, 2026 For deeper zoning details, reports are available at Zoneomics
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