1208 N Saint Marys Court, Long Beach, CA 90813
- $799,000
- List Price
- $799,000
- Status
- ACTIVE
- MLS#
- OC26095441
- Year Built
- 1923
- Lot Size
- 3,242
- Acres
- 0.07
- Lot Location
- Corner Lot
- Days on Market
- 87
- Property Type
- Multifamily
- Style
- Mediterranean
- Property Sub Type
- Quadruplex
- Stories
- Two Levels
- Neighborhood
- Saint Mary's Hospital Area
Property Description
Excellent opportunity to acquire a value-add four-unit investment property in the highly desirable Downtown Long Beach submarket. This multi-unit asset offers strong in-place income with significant upside potential through renovation and rental repositioning. The property is currently generating approximately $58,500 in annual gross income, reflecting a current Gross Rent Multiplier (GRM) of 13.68 at the current list price and a cap rate of approximately 6.24%. These metrics position the asset as an attractive opportunity for investors seeking both immediate cash flow and long-term appreciation. With strategic improvements, investors have the ability to reposition the asset, increase rents toward market levels, and further enhance overall returns. The property is ideal for investors pursuing a value-add strategy, long-term hold, or future refinance scenario. Located in the heart of Downtown Long Beach, the property benefits from strong tenant demand driven by proximity to major employment centers, coastal amenities, and a vibrant urban lifestyle. The area is known for its waterfront access, marina, Shoreline Village, The Pike Outlets, and a thriving dining and arts scene, making it a highly desirable location for renters. The property is also well-positioned for public transportation access, with the Metro A Line providing direct connectivity from Downtown Long Beach to Downtown Los Angeles and surrounding areas. Nearby transit hubs and multiple Long Beach Transit bus routes offer convenient local and regional access, enhancing tenant appeal and long-term rental demand. This is a rare opportunity to acquire a centrally located multi-unit property in one of Southern California’s most dynamic coastal markets, offering immediate income with strong upside potential through rental growth and property improvements. Buyer and buyers agent to conduct their own analysis.
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Additional Information
- Appliances
- Gas Range, Gas Water Heater, Water Heater
- Pool Description
- None
- Heat
- Wall Furnace
- Cooling Description
- None
- View
- None
- Exterior Construction
- Frame, Stucco
- Roof
- Flat
- Sewer
- Public Sewer
- Water
- Public
- Attached Structure
- Attached
- Number Of Units Total
- 4
- Gross Scheduled Income
- $58,500
- Operating Expense
- 8600
- Levels
- Two
- Probate
- Yes
Listing courtesy of Listing Agent: Erik Kaiser (erikfkaiser@gmail.com) from Listing Office: RE/MAX TerraSol.
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.