Multi-Family for sale in Southern California — $2,289,000. 16 beds · 10 baths · 7,128 sqft. 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…
$2,289,000
1135 Raymond Avenue, Long Beach, CA 90804
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 updated: July 6, 2026 at 10:43 AM
Listed by: Jonathan Swire, The Agency
Source: CRMLS, MLS#: 26826345, Originating MLS: California Regional MLS
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| Date | Event | Price |
|---|---|---|
7/06/2026 Source: CRMLS, #26826345 | Price change | $2,289,000$321/sqft-0.5% |
| 4/28/2026Source: CRMLS, #26826345 | Listed for sale | $2,300,000$323/sqft |
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