561 E 64th, Long Beach, CA 90805
- $2,750,000
- Sold Price
- $2,750,000
- List Price
- $2,825,000
- Closing Date
- Jun 10, 2026
- Status
- CLOSED
- MLS#
- PW26036925
- Year Built
- 1960
- Lot Size
- 14,545
- Acres
- 0.33
- Lot Location
- Cul-De-Sac
- Days on Market
- 41
- Property Type
- Multifamily
- Property Sub Type
- Apartment
- Neighborhood
- North Long Beach (Nlb)
Property Description
We are pleased to present 561 E. 64th Street, a 1960-construction 16 unit multifamily property located in North Long Beach to market. The property sits on a large 14,552 square foot lot and consists of 16 one bed/one bath units. Operating at a 6.18% cap rate and a 9.19 GRM, in place income is strong. The offering is priced at an attractive low basis of $176,563 per unit and $283 per square foot, positioning the asset below replacement cost and comparable sales in the market. Sixteen covered parking spaces are on site. Current rents remain approximately 18% below market, allowing further upside for a new buyer. The property has recently been extensively replumbed with new pex and copper throughout. Favorable market financing is available, requiring under a $1,000,000 down payment with the ability to achieve over a 7% cash-on-cash return utilizing interest-only financing (buyer to verify). The property is ideally situated directly across the street from Jordan High School, within a well-established residential corridor of North Long Beach.
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Additional Information
- Pool
- Yes
- Pool Description
- Private
- Sewer
- Public Sewer
- Water
- Public
- Attached Structure
- Attached
- Number Of Units Total
- 16
- Gross Scheduled Income
- $307,464
- Operating Expense
- 123607
Listing courtesy of Listing Agent: Jackson Jorgensen (jack@younglewin.com) from Listing Office: Younglewin Advisors, Inc..
Listing sold by Jackson Jorgensen from Younglewin Advisors, Inc.
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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.