$2,300,000

1135 Raymond Avenue, Long Beach, CA 90804

  • 7,128 sqft
  • Property Icon other
  • Property Year Built Icon Built in 1987
  • Property Lot Size Icon6,495sqft lot
  • Property Parking Icon —— car garage
  • Property Price Per Square Feet Icon $323/sqft
  • Property List Date Icon Listed 2 months ago

Property Description

HIGHLY COVETED 1980'S CONSTRUCTION - PRICED AT 10.3 GRM AND 6.6% CAP ON MARKET RENTS. 9 units in Long Beach built in 1987, NOT subject to rent control, only subject to AB 1482 rent control - maximum annual increase of 5% + CPI (currently 8.7% total). Located in a great location on the East side. Long Beach has undergone major redevelopment with over $8BB of new projects in the past few years. The property is professionally managed and well maintained with onsite laundry. It also features onsite parking for every unit - a rarity in parking impacted Long Beach. The property features an excellent unit mix of 1 and 2 bed units with rents approximately 10% below market. Built in 1987 this property features copper plumbing and modern electrical. Qualified Buyers can obtain a new loan fixed at 5.40% for 5 years, Interest Only. Anduril Industries, a cutting-edge defense technology company specializing in AI applications announced that it is commencing a $1 billion redevelopment of land adjacent to the LB Airport. The project is planned to be completed in mid-2027 and is expected to create 5,500 new direct jobs at the site plus thousands of indirect construction and supply-chain service jobs. The City also approved a $38MM revamp of Long Beach Airport in preperation for the 2028 Olympic games.

Listing Status:
Active
Date Added:
April 28, 2026
Data Last Updated:
July 6, 2026 at 2:09PM
Listing Office:
The Agency : 424-230-3700
Listing Agent:
Jonathan Swire : 310-948-2631
MLS ID:
CL26826345
  • A/C: None
  • Heating: Wall Furnace
  • Parking: Assigned
  • County: Los Angeles
  • Zoning: LBR2N7260032018

This listing courtesy of Jonathan Swire , The Agency

Monthly Payment

$Est. Payment
  • Principal & Interest $
  • Property Taxes $
  • Home Insurance $
  • VA Funding Fee $

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Location

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#CL26825645 - The Agency