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JLee Broker

[email protected] +1(650) 857-1000

Listed by Christian Tait, DRE #02111248 • Marcus & Millichap RE Invest

$1,250,000

Est. payment - /mo

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Key Details

Property Type Multi-Family

Sub Type Fourplex

Listing Status Active

Purchase Type For Sale

MLS Listing ID CROC26101020

Year Built 1959

Property Sub-Type Fourplex

Source California Regional MLS

Property Description

6641 Hammond Avenue is a 4-unit multifamily investment property located in Long Beach, California. The adjacent 4-unit property at 6645 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/one-bath units, offering a desirable and efficient unit mix in a supply-constrained Southern California rental market. The offering is priced at an attractive 5.52% cap rate on current rents, with projected upside to a 6.77% 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 existin

Location

State CA

County Los Angeles

Area 7 - North Long Beach

Interior

Laundry Gas Hookup, In Kitchen, 30

Exterior

Garage Spaces 5.0

Pool None

Building

Lot Description Grade - Level

Water District - Public

Others

Tax ID 7120015055

Special Listing Condition Not Applicable

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Nearby School & Business

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JLee Broker

+1(650) 857-1000

Broker | License ID: 00851314

Broker License ID: 00851314

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6641 Hammond AVE Long Beach, CA 90805

JLee Broker

Key Details

Location

Interior

Exterior

Building

Others

Nearby School & Business

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