927 Belmont Ave 7 Unit Apartment Building $2,841,660 CAD ($405,951 CAD/Unit) 5.59% Cap Rate Long Beach, CA 90804

The Leeson Group of Marcus & Millichap, as the exclusive listing agent, is pleased to present the opportunity to acquire 927 Belmont Avenue, a 7-unit multifamily property located in the desirable Eastside neighborhood of Long Beach, California.
Built in 1947, 927 Belmont Avenue totals approximately 5,261 net rentable square feet and features a unit mix of 3 one-bed/one-bath units and 4 two-bed/one-bath units. The property has been well maintained by current ownership and benefits from functional property amenities including 4 single-car garages, 1 surface parking space, security/screen doors, and on-site laundry. The garages and laundry provide the property with ancillary income opportunities beyond base apartment rent, while the balanced unit mix appeals to a broad renter pool seeking well-located housing in East Long Beach.
Through consistent annual rent increases, current ownership has maintained in-place rents near market levels, allowing the property to offer an attractive 5.59% cap rate on current income. Additional upside remains available through selective interior renovations as units naturally turn, giving a new owner the ability to further enhance finishes without relying on an aggressive repositioning strategy.
The property’s location further supports long-term rental demand, with walkable access to Jefferson Leadership Academy, Woodrow Wilson High School, and Recreation Park. Its Eastside Long Beach setting also places residents near daily-needs retail along Anaheim Street, the Long Beach Traffic Circle, California State University, Long Beach, and Belmont Shore’s 2nd Street corridor.
*Drive by only. Do not walk the property or disturb the residents. Please contact the Listing Agent(s).*