1403 Lemon Avenue, Long Beach, CA 90813
Local realty services provided by:ERA North Orange County Real Estate
1403 Lemon Avenue,Long Beach, CA 90813
$1,198,000
- - Beds
- - Baths
- 2,700 sq. ft.
- Multi-family
- Active
Listed by: milla pariser
Office: beverly and company818-835-4414
MLS#:SR26107777
Source:CRMLS
Price summary
- Price:$1,198,000
- Price per sq. ft.:$443.7
About this home
SELLER FINANCING AVAILABLE AT 5% INTEREST—AN EXCEPTIONAL OPPORTUNITY FOR QUALIFIED BUYERS, SUBJECT TO SELLER APPROVAL AND MUTUALLY AGREED-UPON TERMS.
Welcome to 1403 Lemon Avenue, an outstanding multifamily investment located in the vibrant, rapidly appreciating area of Long Beach, California. This well-positioned five-unit income property offers investors a rare blend of strong in-place cash flow, potential for long-term value appreciation, all in one of Southern California’s most dynamic coastal cities.
Positioned on a 6,519 square foot lot, the property consists of five distinct units with a combined living area of approximately 2,700 square feet. The unit mix includes:
• One detached 4-bedroom, 2-bath front house, offering the feel and privacy of a single-family residence.
• One 4-bedroom, 1-bath unit, perfect for larger households or shared living scenarios.
• Three 2-bedroom, 1-bath units, ideal for small families, professionals, or long-term tenants.
This unit diversity not only maximizes rental appeal across a broad demographic but also minimizes vacancy risk, ensuring a reliable income stream for the savvy investor.
Strong Income with Upside Potential
Currently two vacancies, 1403 Lemon Ave delivers an impressive 8.76% cap rate—a rare find in today’s Southern California market. With below-market rents in place and room for value-add improvements, there’s still significant upside potential for rental increases over time, particularly as the Long Beach rental market continues to strengthen.
For investors seeking a stabilized asset with future growth potential, this property offers both: strong existing cash flow and long-term opportunity for rent optimization and appreciation.
Parking & Storage: Valuable Add-Ons
The property includes four garages and two uncovered driveway parking spaces, a premium amenity in this densely populated urban neighborhood. These spaces could potentially generate additional income if rented separately or bundled with leases—another layer of return on your investment. Garages may also appeal to owner-users, short-term rental hosts, or tenants needing extra storage.
Prime Location Near Downtown Long Beach...
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Home facts
- Year built:1924
- Subdivision & Development:Poly High (PH)
- Listing ID #:SR26107777
- Added:137 day(s) ago
- Updated:October 05, 2026 at 10:59 AM
Rooms and interior
- Living area:2,700 sq. ft.
Structure and exterior
- Year built:1924
- Building area:2,700 sq. ft.
- Lot area:0.15 Acres
- Lot Features:Front Yard, Landscaped, Near Public Transit
Utilities
- Water:Public
- Sewer:Public Sewer
Finances and disclosures
- Price:$1,198,000
- Price per sq. ft.:$443.7
Parking
- Total parking spaces:4
- Garage:Yes
- Garage spaces:4
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