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1876 Henderson Avenue

Long Beach, CA 90806

$1,600,000 $6,745/Mo

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Overview

Bed

Bath

4,877

Sqft

7,502

Sqft(Lot)

Description

Well-Maintained 7-Unit Apartment Investment with Strong Cash Flow. Exceptional opportunity to acquire a well-maintained 7-unit apartment property located in Long Beach's desirable South Wrigley neighborhood. Situated on a 7,500 square foot lot with approximately 4,919 square feet of improvements, this income-producing asset offers strong in-place cash flow, recent capital improvements, and immediate upside potential. The property consists of two upstairs 1-bedroom/1-bath units, four downstairs 1-bedroom/1-bath units, and one spacious downstairs 2-bedroom/1-bath unit. One upstairs unit is currently vacant and has been updated with new luxury vinyl plank flooring and refreshed interior finishes, providing immediate rental upside for a new owner. Seller believes a second unit may also b e delivered vacant at closing, creating additional flexibility for lease-up or renovation strategies. Several units are currently being utilized with additional rooms beyond their original layouts. Four of the downstairs 1-bedroom units are being used as 2-bedroom units, while the larger downstairs unit is currently utilized as a 3-bedroom unit. Ownership has completed numerous capital improvements, including electrical service upgrades in 2025, copper repiping of the upstairs units, replacement of gas lines, installation of a copper main water supply line, and ongoing roof maintenance. Each unit is individually metered for gas and electricity, helping reduce owner-paid utility expenses and improve operating efficiency. The property currently generates approximately $13,075 per month in gross rental income and is offered at an attractive 6.4% cap rate and 10.20 gross rent multiplier (GRM) based on current operations. Investors may benefit from favorable financing options, with the property potentially qualifying for financing with approximately 25% down. Additional amenities include four garages, on-site parking, and a desirable courtyard-style layout that enhances tenant appeal. Conveniently located near Pacific Coast Highway, Downtown Long Beach, public transportation, shopping, dining, and major employment centers, this property is well-positioned to benefit from continued rental demand and long-term appreciation. This is a rare opportunity to acquire a stabilized multifamily investment offering strong current returns, recent capital improvements, vacancy upside, and significant long-term growth potential.

Property Details

Property Type : Residential Income

Price : $1,600,000

AD Id : 81922979

MLS Id : PW26122313

Lot Size : 7,502 Sqft

Living Area Size : 4,877

Year Built : 1956

Garage : 4

County : Los Angeles

Map

What's Nearby

Nearby Areas

Features

Water/Sewer

Water Source: Public Sewer: Public Sewer
Interior Features

Roof: Composition Windows: Wood Frames Property Appliances: Dryer,Washer Fireplace: None
Cooling Features

None Air Conditioning

Heating Source

Floor Furnace Has Heating

Fireplace

Fireplace Features: None Has Fireplace: 0

Building Information

Year Built: 1956 Building Area Total: 4,877 Construction: Stucco Roof: Composition
Foundation

Concrete Perimeter
Accessibility Features

None

Pool Features

None

Laundry Features

Common Area

Fencing

Good Condition,Partial,Wrought Iron

Lot Details

Lot Dimensions Source: Vendor Enhanced Lot Size Acres: 0.1722
Lot Size Source: Assessor Lot Size Square Feet: 7502

Listing Price Information

Original List Price: 1,600,000 Listing Contract Date: 2026-06-08
Lease Information

Listing Agreement: Exclusive Right To Sell

Tax Information

Parcel Number: 7209028008

Rental Info

Lease Term: Negotiable Tenant Pays: Electricity,Gas

Other Property Info

Source Listing Status: Active Source Neighborhood: 5 - Wrigley Area Directions: North of PCH, between Magnolia Ave and Chestnut Ave Source Property Type: Residential Income Area: 5 - Wrigley Area Property SubType: Apartment
Building and Construction

Property Age: 70 Common Walls: No Common Walls Structure Type: Apartment Year Built Source: Assessor Entry Level: 1 Entry Location: 1 Levels or Stories: Two Building Total Stories: 2

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Nearby Home Value

Address	Estimate	Bed	Bath	Sq. Ft	Lot Size
910 E 19th Street, Long Beach, CA, 90806	$754,000	4	3	1,492	1,492 SqFt
2337 Long Beach, Long Beach, CA, 90806	$1,325,000	--	--	4,330	4,330 SqFt
2320 Locust, Long Beach, CA, 90806	$499,000	2	1	680	680 SqFt
201 E Eagle Street, Long Beach, CA, 90806	$879,000	5	--	1,914	1,914 SqFt
1950 Magnolia Avenue, Long Beach, CA, 90806	$965,000	6	--	2,016	2,016 SqFt
2430 San Francisco Avenue, Long Beach, CA, 90806	$819,000	3	2	1,450	1,450 SqFt
1860 San Francisco Aven.., Long Beach, CA, 90806	$550,000	3	3	1,508	1,508 SqFt

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1876 Henderson Avenue

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Exterior Features

Property / Lot Details

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