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$ 1,250,000
Est. payment | /mo
2 Beds
1 Bath
5,227 Sqft Lot
$ 1,250,000
Est. payment | /mo
2 Beds
1 Bath
5,227 Sqft Lot
Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
Subdivision North Long Beach (Nlb)
MLS Listing ID OC26101046
Bedrooms 2
Lot Size 5,227 Sqft
Property Sub-Type Res Income 2-4 Units
Property Description
6645 Hammond Avenue is a 4-unit multifamily investment property located in Long Beach, California. The adjacent 4-unit property at 6641 Hammond Avenue is also available, with each property offered at $1.25 million or both assets available together for $2.5 million, allowing investors to acquire either property individually or purchase a larger 8-unit footprint on contiguous parcels. Built in 1959, the property consists entirely of two-bed/onebath units, offering a desirable and efficient unit mix in a supply-constrained Southern California rental market. The offering is priced at an attractive 5.62% cap rate on current rents, with projected upside to a 6.84% cap rate on market rents. This provides investors with immediate in-place yield and a clear path to improved performance through continued rent growth and more efficient income management. The property is situated on a 0.12-acre parcel and features approximately 3,000 net rentable square feet. Community amenities include in-unit laundry hookups, individual water heaters, and five surface parking spaces. The surface parking spaces are currently not separately monetized, providing a potential opportunity to create additional income through parking fees, subject to market demand and tenant considerations. In addition to existing income upside, the rear parking area may offer ground-up Accessory Dwelling Unit (ADU) development potential. A new owner may be able to explore the addition of one or more accessory dwelling units to increase rentable square footage and long-term income, subject to Long Beach requirements, site co
Location
State CA
County Los Angeles
Zoning Assessor
Direction Cross Streets of Hammond Avenue & East Artesia Boulevard
Interior
Fireplace No
Exterior
View Y/N No
Building
Story 2
Level or Stories 2
Others
Senior Community No
Tax ID 7120015056
Acceptable Financing Cash, Conventional, Exchange
Listing Terms Cash, Conventional, Exchange
Listed by Christian Tait, DRE#02111248 Marcus & Millichap RE Invest
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