1403 Lemon AVE Long Beach, CA 90813
6,603 Sqft Lot
UPDATED:
Key Details
Property Type Single Family Home
Sub Type Single Family Residence
Listing Status Active
Purchase Type For Sale
Subdivision Poly High (Ph)
MLS Listing ID SR25121571
HOA Y/N No
Year Built 1924
Lot Size 6,603 Sqft
Property Sub-Type Single Family Residence
Property Description
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 small 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 operating at full occupancy, 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
Location
State CA
County Los Angeles
Area 9 - Poly High
Zoning LBR1N
Interior
Fireplace No
Laundry None
Exterior
Garage Spaces 4.0
Garage Description 4.0
Pool None
Community Features Curbs, Storm Drain(s), Street Lights, Sidewalks
Total Parking Spaces 4
Private Pool No
Building
Lot Description Front Yard, Landscaped, Near Public Transit
Story 1
Sewer Public Sewer
Water Public
New Construction No
Others
Senior Community No
Tax ID 7268015033
Acceptable Financing Cash, Cash to New Loan, Conventional, 1031 Exchange
Listing Terms Cash, Cash to New Loan, Conventional, 1031 Exchange
Special Listing Condition Standard
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Los Cerritos Elementary School
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Fremont Elementary School
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Signal Hill Elementary School
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Alvarado Elementary School
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Muir Academy
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Chavez Elementary School
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Birney Elementary School
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Lafayette Elementary School
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Robert Louis Stevenson Elementary School
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Longfellow Elementary School
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Lincoln Elementary School
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Garfield Elementary School
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Robinson K - 8 Academy
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Roosevelt Elementary School
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Mann Elementary School
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Bryant Elementary School
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Elizabeth Beth Hudson K - 8 School
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Daniel Webster Elementary School
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Oropeza Elementary School
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Smith Elementary School
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Intellectual Virtues Academy of Long Beach
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Hughes Middle School
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Franklin Classical Middle School
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Jessie E. Nelson Academy
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Stephens Middle School
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Washington Middle School
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Jefferson Leadership Academies
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Regency High School
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Zinsmeyer Academy
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Select Community Day (Secondary)
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Renaissance High School for the Arts
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Wilson High School
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Polytechnic High School
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Cabrillo High School
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Beach High-Intensive Learning Program
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Reid High School
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Educational Partnership High School
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St Anthony High School
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Long Beach Unified School District Regional Occupational Program
Public | 10 - 12