1403 Lemon Avenue
Long Beach, CA, 90813 $ 1,300,000
Baths1.0 Sq 2,700 Monthly Estimate*
$ 8,004
Listed by Beverly and Company
Studio for $1,300,000 with 1 full bath. This 2,700 square foot home was built in 1924 on a lot size of 0.1516.
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
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FeaturesGeneralSewer Public Sewer
Zoning LBR1N
Garage Spaces 4
Pool Features None
Year Built 1924
Property Subtype Single Family Residence
Gross Income 134160
Community Features Curbs Storm Drain(s) Street Lights Sidewalks
County Los Angeles
Net Operating Income 88742
Operating Expense 45000
Insurance Expense 1350
New Construction false
Property Type Residential Income
Contingency All tenants are month to months and rents haven’t been updated in many years there is potential to raise. 2 UNITS ARE VACANT. BEING REMODELED. POSSIBILITY TO RAISE RENT.
MaintenanceExpense 2500
Subdivision Name Poly High (PH)
Garage Y/N true
Special Listing Conditions Standard
Status Active
Directions East Anaheim & 10th Street
City Long Beach
Entry Location 1
Senior Community Y/N false
Number Of Units Total 5
MLS Area 9 - Poly High
Lot Size Units Square Feet
Lot Size Square Feet 6603
Listing Terms Cash Cash to New Loan Conventional 1031 Exchange
Property Attached Y/N false
Land Lease Y/N false
Electric Expense 43
Trash Expense 0
Water Sewer Expense 4421
Additional Parcels Y/N false
Rent Control Y/N false
Building Area Units Square Feet
Standard Status Active
Year Built Source Public Records
Tax Lot 36
Property Sub Type Additional Single Family Residence
Cap Rate 8.76
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InteriorTotal Stories 1
Common Walls No Common Walls
Laundry Features None
Entry Level 1
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ExteriorLot Features Front Yard Landscaped Near Public Transit
Water Source Public
Total Parking 4
Lot Size Area 6603
Number of Buildings 2
Building Area Total 2700
Lot Size Acres 0.1516
Private Pool false
Lot Size Source Assessor
Number of Separate Water Meters 1
Number of Separate Gas Meters 5
Number of Separate Electric Meters 6
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* Excluded FeaturesList ByBeverly And CompanyBroker
millaluxuryhomes@gmail.comEmail
Affordability Calculator
- Monthly Principal & Interest
- $8,004
- Monthly Property Taxes
- --
- Monthly Home Insurance
- --
Default based on a 30-year fixed rate of 6.25% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
Learn more about how to save NearbyMulti-family listings in Long Beach, CA
Average List Price $1,846,295
Percent of Sale Price 42%
About Long Beach, CA 470,090 Population
2% Since 2002
$ 57,916 Median Income
35.78 Median Age
30% Households with Children
Trends Information provided by ATTOM Data Solutions.
4827338 Elementary School
4827337 Middle School
Unknown High School High School
Pricing History| Date | Price | Price Change | Description |
|---|
| 12/8/2025 | $1,300,000 | 8.79% | Price Up |
| 11/20/2025 | $1,195,000 | -8.01% | Price Down |
| 11/20/2025 | $1,299,000 | | Listed Price |