Active

1403 Lemon Avenue

Long Beach, CA 90813

$1,395,000 $5,881/Mo

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Overview

Bed

Bath

2,700

Sqft

6,603

Sqft(Lot)

Description

Welcome to 1403 Lemon Avenue, an outstanding multifamily investment located in the vibrant, rapidly appreciating area of Long Beach, California. This well-positioned five-unit income property offers investors a rare blend of strong in-place cash flow, potential for long-term value appreciation, all in one of Southern California’s most dynamic coastal cities. Positioned on a 6,519 square foot lot, the property consists of five distinct units with a combined living area of approximately 2,700 square feet. The unit mix includes: • One detached 4-bedroom, 2-bath front house, offering the feel and privacy of a single-family residence. • One 4-bedroom, 1-bath unit, perfect for larger households or shared living scenarios. • Three 2-bedroom, 1-bath units, ideal for smal l families, professionals, or long-term tenants. This unit diversity not only maximizes rental appeal across a broad demographic but also minimizes vacancy risk, ensuring a reliable income stream for the savvy investor. Strong Income with Upside Potential Currently two vacancies, 1403 Lemon Ave delivers an impressive 8.76% cap rate—a rare find in today’s Southern California market. With below-market rents in place and room for value-add improvements, there’s still significant upside potential for rental increases over time, particularly as the Long Beach rental market continues to strengthen. For investors seeking a stabilized asset with future growth potential, this property offers both: strong existing cash flow and long-term opportunity for rent optimization and appreciation. Parking & Storage: Valuable Add-Ons The property includes four garages and two uncovered driveway parking spaces, a premium amenity in this densely populated urban neighborhood. These spaces could potentially generate additional income if rented separately or bundled with leases—another layer of return on your investment. Garages may also appeal to owner-users, short-term rental hosts, or tenants needing extra storage. Prime Location Near Downtown Long Beach

Property Details

Property Type : Residential Income

Price : $1,395,000

AD Id : 78976183

MLS Id : SR26107777

Lot Size : 6,603 Sqft

Living Area Size : 2,700

Year Built : 1924

Garage : 4

County : Los Angeles

Map

What's Nearby

Nearby Areas

Features

Water/Sewer

Water Source: Public Sewer: Public Sewer

Building Information

Year Built: 1924 Building Area Total: 2,700
Pool Features

None

Laundry Features

None

Lot Details

Lot Dimensions Source: Vendor Enhanced Lot Size Acres: 0.1516
Lot Size Source: Assessor Lot Size Square Feet: 6603

Listing Price Information

Original List Price: 1,395,000 Listing Contract Date: 2026-05-20
Lease Information

Listing Agreement: Exclusive Right To Sell

Tax Information

Parcel Number: 7268015033

Other Property Info

Source Listing Status: Active Source Neighborhood: 9 - Poly High Postal Code Plus 4: 2129 Directions: East Anaheim & 10th Street Zoning: LBR1N Source Property Type: Residential Income Area: 9 - Poly High Property SubType: Single Family Residence
Building and Construction

Property Age: 102 Common Walls: No Common Walls Structure Type: Single Family Residence Year Built Source: Public Records Entry Level: 1 Entry Location: 1 Levels or Stories: Multi/Split

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Nearby Home Value

Address	Estimate	Bed	Bath	Sq. Ft	Lot Size
1036 Cherry Avenue, Long Beach, CA, 90813	$2,350,000	10	--	4,722	4,722 SqFt
1081 Cherry Avenue, Long Beach, CA, 90813	$1,100,000	2	--	2,773	2,773 SqFt
1050 Gaviota, Long Beach, CA, 90813	$4,500,000	--	--	12,928	12,928 SqFt
1419 E 15th, Long Beach, CA, 90813	$995,000	--	--	2,292	2,292 SqFt
933 Walnut Avenue, Long Beach, CA, 90813	$980,000	3	2	1,312	1,312 SqFt
1056 Hoffman, Long Beach, CA, 90813	$1,599,999	6	6	2,560	2,560 SqFt
1416 Orange, Long Beach, CA, 90813	$1,299,999	6	4	2,926	2,926 SqFt
1037 N Almond Court, Long Beach, CA, 90813	$789,000	2	1	1,224	1,224 SqFt
1310 E Hellman, Long Beach, CA, 90813	$1,725,000	--	--	5,735	5,735 SqFt
1242 E 7th St, Long Beach, CA, 90813	$1,150,000	--	--	2,875	2,875 SqFt

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ByOwner last updated this listing 06/12/2026 @ 15:42

MLS: SR26107777 LISTED BY: Milla Pariser, Beverly and Company 818-835-4414 SOURCE: CRMLS