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Listed by Erik Kaiser, DRE #01111620 • RE/MAX TerraSol
$799,000
Est. payment /mo
3,242 Sqft Lot
Active
1208 N Saint Marys CT Long Beach, CA 90813
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Key Details
Property Type Multi-Family
Sub Type Fourplex
Listing Status Active
Purchase Type For Sale
MLS Listing ID CROC26095441
Style Mediterranean
Year Built 1923
Lot Size 3,242 Sqft
Property Sub-Type Fourplex
Source California Regional MLS
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 transport
Location
State CA
County Los Angeles
Area 9 - Poly High
Rooms
Kitchen Other, Oven Range - Gas
Interior
Heating Wall Furnace
Cooling None
Flooring Laminate
Laundry Other
Exterior
Parking Features Other
Pool 31, None
View None
Roof Type Flat / Low Pitch
Building
Water Hot Water, District - Public
Architectural Style Mediterranean
Others
Tax ID 7274001033
Special Listing Condition Court Confirmation May Be Required
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