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Travis Breton

travisbreton@gmail.com +1(760) 470-2752

Listed by Robert Stepp, DRE #01456379 • Keller Williams Realty Downey

$ 2,500,000

Est. payment | -/mo

6,502 Sqft Lot

Save

$ 2,500,000

Est. payment | -/mo

Save

6,502 Sqft Lot

Key Details

Property Type Commercial

Listing Status Active

Purchase Type For Sale

MLS Listing ID CRPW26236589

Year Built 1987

Lot Size 6,502 Sqft

Source California Regional MLS

Property Description

1128 Temple Avenue is an eight-unit multifamily investment opportunity located in Long Beach, California. Built in 1987, the three-story property features 100% spacious two-bedroom/two-bathroom residences averaging approximately 956 square feet. Four of the eight units offer private balconies, while additional amenities include 13 secure parking spaces and individually metered gas and electricity, providing desirable resident conveniences and operational efficiencies. Offered at $2,500,000, the property presents a compelling value proposition with pricing metrics that compare favorably to recent sales. The projected 6.55% capitalization rate exceeds the comparable average of 5.95%, while the 9.80 gross rent multiplier is notably below the 12.02 comparable average. These metrics underscore the property's attractive relative valuation and competitive income potential. Currently operated as student housing with rental income generated on a per-bed basis, the property is being marketed as a conventional market-rate multifamily investment. The pro forma reflects a transition to traditional per-unit leasing, with conservatively projected monthly rents of $2,495 per unit, approximately 2% below the surveyed comparable average of $2,547. This measured underwriting approach provides inv

Location

State CA

County Los Angeles

Area 3 - Eastside, Circle Area

Interior

Laundry None

Exterior

Garage Spaces 13.0

Pool None

Building

Water District - Public

Others

Tax ID 7259019012

Special Listing Condition Not Applicable

Nearby Locations

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(760) 470-2752

travisbreton@gmail.com

1902 Wright Place #200, Carlsbad, CA 92008, USA

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1128 Temple Long Beach, CA 90804