1148 Stanley Avenue, Long Beach, CA 90804
- $2,275,000
- 16
- BD
- 16
- BA
- 6,240
- SqFt
- Sold Price
- $2,275,000
- List Price
- $2,295,000
- Closing Date
- Jun 30, 2026
- Status
- CLOSED
- MLS#
- 26825273
- Year Built
- 1986
- Bedrooms
- 16
- Bathrooms
- 16
- Living Sq. Ft
- 6,240
- Lot Size
- 6,627
- Acres
- 0.15
- Days on Market
- 34
- Property Type
- Multifamily
- Stories
- Multi Level
Property Description
PRICED TO SELL - 10X GRM AND 6.5% CAP AT MARKET RENTS for 1980's construction in Long Beach. Earn over a 8% Cash on Cash Return. 8 units in Long Beach subject to AB 1482 rent control - maximum annual increase of 5% + CPI (currently 8.0% total). Built in 1987 the property is professionally managed and well maintained. Building was recently painted as well. All units are 2 bed/2bath and have updated kitchens, baths and flooring. 12 onsite parking for 8 units as well as onsite laundry. This property is perfect for someone looking for a low management asset. It also has approx. 14% rental upside to a 10 GRM and 6.7% CAP at market rents. There is onsite laundry onsite. The electrical is Siemens - it's a 200 AMP main panel with 60 AMP subpanels (Buyer to verify). Plumbing is copper (Buyer to verify). Qualified Buyers can obtain a 5 year loan fixed at 5.05%, Interest Only. Anduril Industries, a cutting-edge defense technology company specializing in AI applications announced that it is commencing a $1 billion redevelopment of land adjacent to the LB Airport. The project is planned to be completed in mid-2027 and is expected to create 5,500 new direct jobs at the site plus thousands of indirect construction and supply-chain service jobs. And the city just approved a $38MM update of the Long Beach airport for the upcoming 2028 Olympics.
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Additional Information
- Heat
- Wall Furnace
- Cooling Description
- None
- Garage Spaces Total
- 12
- Attached Structure
- Detached
- Number Of Units Total
- 8
Listing courtesy of Listing Agent: Jonathan Swire (jon@jonswire.com) from Listing Office: The Agency.
Listing sold by Jonathan Swire from The Agency
Mortgage Calculator
Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.