Long Beach, CA 90813 1415 1425 Martin Luther King Jr Avenue
$2,400,000
5 more
Presented By: Steven Bogoyevac with Steven M. Bogoyevac, Broker; steve.bogoyevac@marcusmillichap.com
Beds • 20
Baths • 4
SQFT • 7,282
Year Built • 1930
Home Details
Exciting opportunity to acquire two contiguous multifamily investment properties in Long Beach, California. This offering comprises 1415 Martin Luther King Jr. Avenue, a 1961 construction fourplex with all two-bed/one-bath units, and the adjacent 1425 Martin Luther King Jr. Avenue, a six-unit property consisting of a front duplex with a three-bed/two-bath unit and a one-bed/one-bath unit, as well as a rear fourplex with all two-bed/one-bath units. The property also offers on-site laundry and ample surface parking.
The property is located in Long Beach’s Poly High neighborhood within easy walking distance of grocery stores and other amenities.
Current rents offer a new investor 15 percent potential upside, and there may be potential to develop ADU’s in the large parking lot of 1415 Martin Luther King Jr. Ave (buyer to verify).
Presented By: Steven Bogoyevac with Steven M. Bogoyevac, Broker; steve.bogoyevac@marcusmillichap.com
Interior Features for 1415 1425 Martin Luther King Jr Avenue
Other Interior Features
Air Conditioning Y/NNo
Basement (Y/N)No
Common WallsNoCommonWalls
Fireplace Y/NNo
Heating Y/NNo
Laundry FeaturesCommonArea
Total Stories2
Other Rooms
Entry Level1
General for 1415 1425 Martin Luther King Jr Avenue
Additional Parcels Description7268-013-018
Additional Parcels Y/NYes
Attached Garage No
Building Area UnitsSquareFeet
Cap Rate6.57
Carport Y/NNo
CityLong Beach
Community FeaturesUrban
CountyLos Angeles
DirectionsOne block north of Anaheim
Electric Expense0.0
Electric On Property Y/NNo
Entry Location1
Fuel Expense0.0
Garage Spaces0.0
Garage Y/NNo
Gross Income0.0
HOANo
Home Warranty Y/NNo
Insurance Expense0.0
Land Lease Y/NNo
Lease Considered Y/NNo
Lease Renewal Y/NNo
LevelsTwo
Listing TermsCash, CashToNewLoan
Lot Size Square Feet13058.0
Lot Size UnitsSquareFeet
MLS Area9 - Poly High
MobileHomeRemainsYNNo
Net Operating Income0.0
New ConstructionNo
Number Of Units Total10
Open Parking Spaces10.0
Operating Expense0.0
Pool FeaturesNone
Property Attached Y/NNo
Property Sub Type AdditionalMixedUse
Property SubtypeMixedUse
Property TypeResidentialIncome
Rent Control Y/NYes
Senior Community Y/NNo
SewerPublicSewer
Special Listing ConditionsStandard
Standard StatusActive
StatusActive
Stories2
Subdivision Namen/a
Tax Lot8
Trash Expense0.0
Water Sewer Expense0.0
Waterfront Y/NNo
Year Built1930
Year Built SourceAssessor
ZoningLBR1N
Exterior for 1415 1425 Martin Luther King Jr Avenue
Building Area Total7282.0
Crops Included Y/NNo
Horse Y/NNo
Irrigation Water Rights Y/NNo
Lot Size Acres0.2998
Lot Size Area13058.0
Lot Size SourceAssessor
Number of Buildings3
Number of Separate Electric Meters10
Number of Separate Gas Meters10
Number of Separate Water Meters0
Open Parking Y/NNo
Private PoolNo
SpaNo
Total Parking10.0
Water SourcePublic
Additional Details
Price History
Alexandra Eston
Sales Associate
Price
$2,400,000
MLS#PW25047462
List Date
03/04/2025
Property Type
Multi-Family
Phone
(562) 537-4182
