1407 Obispo AVE Long Beach, CA 90804

Name: Open House - 12PM-3PM
Start: 2025-12-20T12:00:00.000Z
End: 2025-12-20T15:00:00.000Z
Location: 501 Embrook, West Covina, CA 91791

GET MORE INFORMATION

Michael J. Lofton

Broker | License ID: 01988777

+1(619) 983-8805

We respect your privacy! Your information WILL NOT BE SHARED, SOLD, or RENTED to anyone, for any reason outside the course of normal real estate exchange. By submitting, you agree to our Terms of Use and Privacy Policy.

UPDATED:

Key Details

Sold Price $1,350,000

Property Type Apartment

Sub Type Apartment

Listing Status Sold

Purchase Type For Sale

MLS Listing ID NP25096923

Sold Date 12/12/25

HOA Y/N No

Year Built 1929

Property Sub-Type Apartment

Property Description

1407 Obispo Avenue is a 6-unit multifamily offering located in the heart of Long Beach's Eastside neighborhood. The property consists of a front fourplex with (4) 2-bedroom, 1-bath units, each featuring in-unit laundry, and a rear duplex with (2) 1-bedroom, 1-bath units positioned above four single-car garages. The garage structure presents a future opportunity for ADU conversion or added income (buyer to verify).

With current rents approximately 27% below market and an attractive price per square foot of just $282, this asset offers immediate upside through strategic renovations and tenant turnover. The property is priced at a 12.06 GRM on existing income, with a projected 9.49 GRM at market rents, offering a compelling return profile in a supply-constrained submarket.

Residents benefit from proximity to Pacific Coast Highway retail, Recreation Park, Long Beach City College, and the shops and dining along Retro Row. With rising housing costs and ongoing demand for well-located rental units, 1407 Obispo Avenue offers a rare opportunity to acquire a value-add asset with strong long-term upside.