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, and the benefit of 100% occupancy—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 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
For sale
Listing Provided by:
Milla Pariser DRE #02006267 818-271-1233,
Beverly and Company
Price cut: $30K (7/15)
$1,450,000
1403 Lemon Ave, Long Beach, CA 90813
14beds
6baths
2,700sqft
Est.:
Multi Family
Built in 1924
-- sqft lot
$1,411,800 Zestimate®
$537/sqft
$-- HOA
What's special
Four garages
- 56 days
- on Zillow |
- 122 |
- 12 |
Zillow last checked: 7 hours ago
Listing updated: July 15, 2025 at 10:18am
Listing Provided by:
Milla Pariser DRE #02006267 818-271-1233,
Beverly and Company
Source: CRMLS,MLS#: SR25121571
Originating MLS: California Regional MLS

Travel times
Tour with a buyer's agent
Tour with a buyer's agent
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 14
- Bathrooms: 6
Appliances
- Laundry: None
Features
- Common walls with other units/homes: No Common Walls
Interior area
- Total structure area: 2,700
- Total interior livable area: 2,700 sqft
Property
Parking
- Total spaces: 4
- Parking features: Garage
- Garage spaces: 4
Features
- Entry location: 1
- Pool features: None
Lot
- Size: 6,603 Square Feet
- Features: Front Yard, Landscaped, Near Public Transit
Details
- Parcel number: 7268015033
- Zoning: LBR1N
- Special conditions: Standard
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Multi Family
Condition
- New construction: No
- Year built: 1924
Utilities & green energy
- Sewer: Public Sewer
- Water: Public
Community & HOA
Community
- Features: Curbs, Storm Drain(s), Street Lights, Sidewalks
- Subdivision: Poly High (Ph)
Location
- Region: Long Beach
Financial & listing details
- Price per square foot: $537/sqft
- Tax assessed value: $268,108
- Annual tax amount: $4,340
- Date on market: 6/10/2025
- Listing terms: Cash,Cash to New Loan,Conventional,1031 Exchange
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