1042 E Broadway 5 Unit Apartment Building $2,390,778 CAD ($478,156 CAD/Unit) 4.25% Cap Rate Long Beach, CA 90802

The Leeson Group of Marcus & Millichap, as the exclusive listing agent, is pleased to present the opportunity to acquire 1042 - 1048 East Broadway, a 5-unit multifamily property located in the Alamitos Beach neighborhood of Long Beach, California.
The property features a well-balanced unit mix of 4 two-bed/one-bath units and 1 one-bed/one-bath unit, offering larger floor plans that appeal to a broad tenant base in a coastal urban setting. The asset also benefits from 2 enclosed garage spaces, a valuable amenity in a dense neighborhood where parking is limited.
Ownership has completed approximately $60,000 in recent capital improvements, including roof replacements on both buildings in 2025, exterior painting in 2024, upgraded water heaters with two tankless systems in 2022, and a renovated kitchen in Unit 1042. The renovated unit features tile and wood flooring, granite countertops, shaker-style cabinetry, and updated fixtures, achieving the highest rent at the property and demonstrating the potential for interior upgrades to drive additional rental income.
Situated in the desirable Alamitos Beach neighborhood, the property is within close proximity to the Long Beach shoreline, Downtown Long Beach, and the East Village Arts District. Residents benefit from convenient access to Retro Row along East 4th Street, as well as the planned Mosaic redevelopment, which is expected to further enhance the surrounding area with new residential, retail, and public space offerings.
1042 - 1048 East Broadway presents investors with the opportunity to acquire a well-located coastal asset with a strong unit mix, recent capital improvements, and demonstrated rental upside within one of Long Beach’s most active rental markets.
*Drive by only. Do not walk the property or disturb the residents. Please contact the Listing Agent(s).*