$1,900,000
 $10,200 est/mo Sourced by Back At You

1085 Lewis,Long Beach, CA 90813

Long Beach, CA 90813

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Description

COURT ORDERED SALE- SELLER AND BROKER CANNOT MAKE ANY REPRESENTATIONS TO THE CONDITION OR HISTORY OF THE PROPERTY. ACCEPTED OFFER SUBJECT TO COURT CONFIRMATION. We are pleased to present 1085 Lewis Avenue, a 14-unit multifamily property totaling 6,441 square feet of living space built in 1923 in Central Long Beach's Cambodia Town neighborhood. The property has a unit mix of eight studios, five one-bedroom/one-bath units, and one two-bedroom/one-bath unit. All units are separately metered for gas and electricity (buyer to verify). Priced attractively at $1,900,000, which works out to $135,714 per unit and $294 per square foot, yielding a 7.08% current cap rate and an 8.27 GRM- this is one of the lowest price per unit and highest cap rate deals to come for sale in Long Beach this year. In-place rents are about 12% below current market levels. Long Beach has no municipal rent control ordinance- the property falls under AB 1482 which allows for an 8.7% rent increase currently. The property boasts a 91 walk score and is within a five minute walk of Aldi's, Smart and Final, and Lincoln Elementary/Pre-School. The location is dense and renter-driven, with easy access to Downtown Long Beach, the Port, and the 710 and 405 freeways

Details

MLS #PW26227999
Listing TypeFor Sale
StyleCondominium
Sub-TypeResale
StatusActive
Year1923
Days On Site10
Listing Provided ByYounglewin Advisors, Inc. | Jackson Jorgensen

Features

SQ Feet6,441
Story(s)2
Units14
Building(s)1
Acreage0.16

Exterior

Lot FeaturesRectangular Lot

Parking

Garage Yes / NoNo

Utilities

SewerPublic Sewer

Location

Community FeaturesUrban

Area Information

StateCA
CountyLos Angeles
CityLong Beach
Zip Code90813
Area5 Wrigley Area
Community NameWrigley Area (WR)
Listing VS Median (in Wrigley Area (WR))
Price:
$1,900,000
low | high
Med:
$875,000
100% of Average
sqft:
6,441
low | high
Med:
1,666
100% of Average
$ / sqft:
$295
low | high
Med:
$525
28.046218487395% of Average
On site:
10
low | high
Med:
45
22.222222222222% of Average
Sourced by Back At You

Market Activity 90813

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Contact

Learn More About This Property

Benjamin Leaskou

Benjamin Leaskou

01754516 (760) 799-4290ben@leaskouhiggins.com
StateCA
CountyLos Angeles
CityLong Beach
Zip Code90813
Area5 Wrigley Area
Community NameWrigley Area (WR)
Listing VS Median (in Wrigley Area (WR))
Price:
$1,900,000
low | high
Med:
$875,000
100% of Average
sqft:
6,441
low | high
Med:
1,666
100% of Average
$ / sqft:
$295
low | high
Med:
$525
28.046218487395% of Average
On site:
10
low | high
Med:
45
22.222222222222% of Average
Sourced by Back At You
Nearby Listings (Within 1/2 mile)
Price: $1.425M - $2.375M
sqft: 4,500 - 8,000
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Listing Updated: October 21, 2026 at 11:01:26 AM PDT

Benjamin Leaskou - Desert Lifestyle Properties