251 Nevada st, Long Beach, CA 90806
Active
$1,399,000
4 Units
9 Beds
7 Baths
4,651 Area(sq.ft.)
Lot: 6,429 Lot Size(sq.ft.)
| Type | # of Units | Bedroom | Bath | Furnished | Rent | Actual Rent | Projected Rent |
|---|---|---|---|---|---|---|---|
| Unit 1 | 1 | 3 | 2 | No | $ 2,590 | $ 2,590 | $ 2,750 |
| Unit 2 | 1 | 2 | 2 | No | $ 2,572 | $ 2,572 | $ 2,400 |
| Unit 3 | 1 | 2 | 2 | No | $ 2,135 | $ 2,135 | $ 2,350 |
| Unit 4 | 1 | 2 | 1 | No | $ 2,200 | $ 2,200 | $ 2,300 |
| 4 | 9 | 7 | $ 9,497 | $ 9,497 | $ 9,800 |
| MLS #: | IG25071699MR |
| Days On Market: | 22 |
| Listing Date: | March 28, 2025 |
| County: | Los Angeles |
| Property Type: | Residential Income |
| Price per ft2: | $ 301 |
| Price per unit: | $ 349,750 |
| Year Built: | 1968 |
Property Details
Located in Long Beach s Wrigley neighborhood an area benefiting from ongoing city investment and revitalization 251 E Nevada St presents a rare opportunity to own a large, income-generating fourplex with solid functionality and strong long-term upside. While legally recorded as a 7-bedroom, 6-bathroom building, the property is currently configured as 9 bedrooms and 6 bathrooms across four spacious units: one 3-bedroom, 2-bath unit; two 2-bedroom, 2-bath units; and one 2-bedroom, 1-bath unit. With approximately 4,651 square feet of interior space, each unit offers larger layouts than typically found in this segment of the market. This added bedroom and square footage advantage supports stronger rents compared to similarly sized buildings an appealing benefit for investors focused on maximizing return. Each unit is assigned a garage, and the property sits on a well-kept lot in a high-demand rental corridor. Whether you're seeking in-place cash flow, a value-add opportunity, or a solid 1031 exchange target, 251 E Nevada offers the scale and flexibility rarely found in this price range.Interested in this Listing?
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Income Details
| Rent Control: | Yes |
| Gross Operating Income: | $ 108,266 |
| Total Annual Expense: | $ 28,474 |
| Net Operating Income: | $ 79,792 |
| Cap Rate: | 6.68% |
| Gross Rent Multiplier: | 10.49 |
| Actual Gross Rent: | $ 9,497 |
Structure
| Community Features: | Curbs, Gutters, Sidewalks, Storm Drains, Street Lights |
| Style: | Traditional |
| Sewer: | Public Sewer |
Land & Parking
| Zoning: | LBR2N |
| Land Lease Type: | Fee |
Interior
| Laundry: | Community, Laundry Area |
Exterior
| Pool: | No |
| Roof: | Composition |
Detailed Map
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