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1148 Stanley Ave
For Sale $2,295,000 ($367.79 per Sq Ft)
$2,295,000 ($367.79 per Sq Ft)
- 8 Units
- 6,240 Sq Ft
- 6,627 Sq Ft
- Unknown Cap Rate
Description
PRICED TO SELL - 10X GRM AND 6.5% CAP AT MARKET RENTS for 1980's construction in Long Beach. Earn over a 8% Cash on Cash Return. 8 units in Long Beach subject to AB 1482 rent control - maximum annual increase of 5% + CPI (currently 8.0% total). Built in 1987 the property is professionally managed and well maintained. Building was recently painted as well. All units are 2 bed/2bath and have updated kitchens, baths and flooring. 12 onsite parking for 8 units as well as onsite laundry. This property is perfect for someone looking for a low management asset. It also has approx. 14% rental upside to a 10 GRM and 6.7% CAP at market rents. There is onsite laundry onsite. The electrical is Siemens - it's a 200 AMP main panel with 60 AMP subpanels (Buyer to verify). Plumbing is copper (Buyer to verify). Qualified Buyers can obtain a 5 year loan fixed at 5.05%, Interest Only. Anduril Industries, a cutting-edge defense technology company specializing in AI applications announced that it is commencing a $1 billion redevelopment of land adjacent to the LB Airport. The project is planned to be completed in mid-2027 and is expected to create 5,500 new direct jobs at the site plus thousands of indirect construction and supply-chain service jobs. And the city just approved a $38MM update of the Long Beach airport for the upcoming 2028 Olympics.
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Amenities
Garage
Pool
Garden
Security System
Internet
Telephone
Heating
Fireplace
Balcony & Patio
TV / Cable
Laundry
Hardwood Floors
Spa
Air Conditioning
Solar Power
Floor Plan
Great Views
Natural Light
Quiet
Water View
Elevator
Guest Unit(s)
Furnished
220 Volt
Property Details
| List Price | $2,295,000 |
| Property Type | Multi-Family |
| Usable Sqft | 6,240 |
| Number of Stories | 1 stories |
| Parking Spots | 0 spots |
| Year Built | 1986 |
| Last Sold | Unknown |
| Sold Price | Unknown |
| APN # | 7260029019 |
| MLS # | 26825273 |
| Property ID | 322839170 |
| Lot Sqft | 6,627 |
| Zoning | LBR2N |
| Total Units | 8 |
| Days on Market | 28 |
| Original List Price | $2,295,000 |
| Date Updated | May 12, 2026 |
| Date Created | April 28, 2026 |
| Unit # | Beds | Baths | Current Rent | Proforma Rent |
| Unit #1 | 2 | 2.00 | $2,295 | $2,295 |
| Gross Income (Yr) | $ 200,000 |
| Operating Expenses | $ 67,000 |
| Net Income (Yr) | $ 134,000 |
| Cap Rate | 5.40% |
Listing Provided By
Jonathan Swire an agent of . Lic #01336277
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