Multifamily Property for Sale in Long Beach, CA

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Long Beach, CA 90814

Description

Marcus & Millichap is pleased to present to market 361 Gladys Avenue, a charming three-unit property nestled in Long Beach’s sought-after Bluff Heights neighborhood. The front residence is a beautifully updated two-bedroom Craftsman home that will be delivered vacant at close of escrow, making this an ideal acquisition opportunity for an owner-occupant seeking both immediate move-in convenience and supplemental rental income from the rear units. The front home blends timeless architectural details with thoughtful modern upgrades, including new central air and heating, a new water heater, remodeled kitchen and bathrooms, refinished hardwood floors, updated electrical, and copper plumbing. A quaint private backyard creates a welcoming retreat for outdoor dining or relaxation. Behind the main house, a period-correct duplex mirrors the charm of the front residence and offers two one-bedroom units with Craftsman details such as built-ins, gorgeous trimwork, hardwood floors, and decorative fireplaces. Additional amenities include driveway parking, a dedicated storage/garage space with laundry hookups, and a second rear garage area providing ample storage for both owner and tenants. Situated just moments from the vibrant dining, shopping, and coastal attractions that define this historic neighborhood, 361 Gladys Avenue offers the unique combination of owner-occupancy potential, character architecture, and income-producing upside in one of Long Beach’s most desirable neighborhoods. Investment Highlights: • Charming Craftsman property consisting of a stunning two-bedroom home and a duplex with one-bedroom units in Long Beach's coveted Bluff Heights neighborhood • Ideal owner-user opportunity: remodeled front home will be delivered vacant • Front home boasts a quaint backyard and several upgrades, including new central air and heating, a new water heater, remodeled kitchen and bathrooms, refinished hardwood floors, updated electric • Period-correct duplex matches all the c

Market Context

This multifamily in Long Beach, CA is listed for sale. It is offered at an approximate 4.3% capitalization rate, a key benchmark for income-producing multifamily assets. It has been on the market for 52 days. Compare it against other multifamily listings for sale in Long Beach, CA — <a href="/search/sale/multifamily/california/long-beach">view the full market</a>.

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