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Arash Rokni

arash@roknigroup.com +1(619) 762-0777

$1,250,000

Est. payment - /mo

2 Beds

1 Bath

5,227 Sqft Lot

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UPDATED:

Key Details

Property Type Multi-Family

Sub Type Res Income 2-4 Units

Listing Status Active

Purchase Type For Sale

Subdivision North Long Beach (Nlb)

MLS Listing ID OC26101046

Bedrooms 2

Lot Size 5,227 Sqft

Property Sub-Type Res Income 2-4 Units

Property Description

6645 Hammond Avenue is a 4-unit multifamily investment property located in Long Beach, California. The adjacent 4-unit property at 6641 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/onebath units, offering a desirable and efficient unit mix in a supply-constrained Southern California rental market. The offering is priced at an attractive 5.62% cap rate on current rents, with projected upside to a 6.84% 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 existing income upside, the rear parking area may offer ground-up Accessory Dwelling Unit (ADU) development potential. A new owner may be able to explore the addition of one or more accessory dwelling units to increase rentable square footage and long-term income, subject to Long Beach requirements, site co

Location

State CA

County Los Angeles

Zoning Assessor

Direction Cross Streets of Hammond Avenue & East Artesia Boulevard

Interior

Fireplace No

Exterior

View Y/N No

Building

Story 2

Level or Stories 2

Others

Senior Community No

Tax ID 7120015056

Acceptable Financing Cash, Conventional, Exchange

Listing Terms Cash, Conventional, Exchange

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

Nearby School & Business

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Arash Rokni

REALTOR® | CADRE# 02005305

+1(619) 762-0777 | arash@roknigroup.com

San Diego Communities

6645 Hammond Avenue Long Beach, CA 90805

Arash Rokni

Key Details

Location

Interior

Exterior

Building

Others

Nearby School & Business

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