1075 E South, Long Beach, CA 90805
- $4,345,000
- Sold Price
- $4,345,000
- List Price
- $4,500,000
- Closing Date
- May 15, 2026
- Status
- CLOSED
- MLS#
- PW26036911
- Year Built
- 1987
- Lot Size
- 12,552
- Acres
- 0.29
- Lot Location
- Landscaped
- Days on Market
- 25
- Property Type
- Multifamily
- Property Sub Type
- Apartment
- Neighborhood
- North Long Beach (Nlb)
Property Description
We are pleased to present 1075 E. South Street, a 1987 constructed 18 unit building to market in the city of Long Beach. The property features an all two bedroom unit mix with units averaging approximately 868 square feet each with balconies in select units. Current operations deliver a strong 6.37% cap rate and a 10.01 GRM based on existing rents, while still offering approximately 20% upside in gross rental income to market. The property has fully gated and secured parking for 25 spaces in addition to three secure storage spaces in the garage area. Attractive market financing options exist that could potentially boost a cash on cash return of 7% with a 30% down payment (buyer to verify). Situated on a quiet residential street in a solid North Long Beach location, the property combines stable current income, future rent growth potential, and a desirable neighborhood setting.
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Additional Information
- Taxes
- $42,391
- Pool Description
- None
- Garage Spaces Total
- 25
- Sewer
- Public Sewer
- Water
- Public
- Attached Structure
- Attached
- Number Of Units Total
- 18
- Gross Scheduled Income
- $454,380
- Operating Expense
- 149628
Listing courtesy of Listing Agent: Jackson Jorgensen (jack@younglewin.com) from Listing Office: Younglewin Advisors, Inc..
Listing sold by Shane Young from Younglewin Advisors, Inc.
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.