1407 Obispo Avenue

Long Beach CA 90804

7429 sq. ft.

Multi-Family

Last sold for $1,350,000

Kacey Taormina, last sold this property on 12 December 2025 after 164 days on market.

Overview

1407 Obispo Avenue is a 6-unit multifamily offering located in the heart of Long Beachs Eastside neighborhood. The property consists of a front fourplex with (4) 2-bedroom, 1-bath units, each featuring in-unit laundry, and a rear duplex with (2) 1-bedroom, 1-bath units positioned above four single-car garages. The garage structure presents a future opportunity for ADU conversion or added income (buyer to verify). With current rents approximately 27% below market and an attractive price per square foot of just $282, this asset offers immediate upside through strategic renovations and tenant turnover. The property is priced at a 12.06 GRM on existing income, with a projected 9.49 GRM at market rents, offering a compelling return profile in a supply-constrained submarket. Residents benefit from proximity to Pacific Coast Highway retail, Recreation Park, Long Beach City College, and the shops and dining along Retro Row. With rising housing costs and ongoing demand for well-located rental units, 1407 Obispo Avenue offers a rare opportunity to acquire a value-add asset with strong long-term upside.

Features

8 bedrooms

4 bathrooms

7429 sq. ft. lot size

Multi-Family

Estimated Value

We need at least 3 similar 8 bedroom multi families sold in Long Beach over the last 12 months.

Property history for 1407 Obispo Avenue

2025

Sold

$1,350,000

12 Dec 2025 by Kacey Taormina, of Compass

Happy sellers in Long Beach

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Local market activity for 8 bedroom multi families in Long Beach

In the last 12 months, 1 eight-bedroom multi family similar to 1407 Obispo Avenue, have been sold.

Sold

For Sale

Interested in selling?

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Virginia Hernandez

at CENTURY 21 Allstars

(134 reviews)

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Heidi Hamidzadeh

(3 reviews)

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Abigail Waddell

at COMPASS CALIFORNIA

(40 reviews)

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Carmen Sosa

at Realty ONE Group United | Long Beach

(17 reviews)

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Virginia Hernandez

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