REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.

In-PersonVirtual Tour

Juan Ponce

jp.ponce@exprealty.com +1(626) 235-1591

$ 2,500,000

Est. payment | -/mo

6,534 Sqft Lot

Save

$ 2,500,000

Est. payment | -/mo

Save

6,534 Sqft Lot

Key Details

Property Type Apartment

Sub Type Apartment

Listing Status Pending

Purchase Type For Sale

MLS Listing ID OC26051553

HOA Y/N No

Year Built 1963

Lot Size 6,534 Sqft

Property Sub-Type Apartment

Property Description

1545 Obispo Avenue is a turnkey 8-unit multifamily investment opportunity located in the highly desirable Eastside submarket of Long Beach. The property features a rare 100% two-bedroom, one-bathroom unit mix, with all interiors renovated to a consistent, modern standard. Upgrades include quartz countertops, shaker-style cabinetry, vinyl plank flooring, stainless steel appliances, and contemporary finishes throughout—creating operational efficiency and a cohesive tenant experience. Originally constructed in 1963, the asset has benefited from approximately $475,000 in capital improvements, materially reducing near-term capital expenditure exposure. Improvements include new copper plumbing, electrical panel upgrades, exterior stucco enhancements, new windows, and a resurfaced second-floor walkway. These upgrades significantly mitigate deferred maintenance risk and help address insurance underwriting concerns. Additional amenities include on-site laundry facilities and rare on-site parking for 11 vehicles (one garage and ten tandem surface spaces), a notable competitive advantage in this infill Long Beach location. Strategically positioned within walking distance to Orizaba Park and just over a quarter mile from Belmont Center, the property offers convenient access to neighborhood retail and daily amenities. Immediate proximity to Pacific Coast Highway provides seamless connectivity to California State University, Long Beach, Long Beach City College, and key coastal employment corridors. This offering represents a compelling opportunity to acquire a stabilized, renovated coastal asset with strong fundamentals and durable long-term income potential.

Location

State CA

County Los Angeles

Area 3 - Eastside, Circle Area

Interior

Fireplace No

Laundry Common Area

Exterior

Garage Spaces 1.0

Garage Description 1.0

Pool None

Community Features Biking, Gutter(s), Street Lights, Sidewalks

Total Parking Spaces 11

Private Pool No

Building

Lot Description Street Level

Story 2

Entry Level Two

Sewer Public Sewer

Water Public

Level or Stories Two

New Construction No

Others

Senior Community No

Tax ID 7259027024

Energy Description 3450.0

Acceptable Financing Cash, Cash to New Loan, Conventional, 1031 Exchange

Listing Terms Cash, Cash to New Loan, Conventional, 1031 Exchange

Special Listing Condition Standard

CRMLS Full IDX Feed (MAIN Website Search)

Listed by Tyler Leeson Marcus & Millichap RE Invest tleeson@marcusmillichap.com, DRE #01451551

Nearby Locations

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(626) 235-1591

jp.ponce@exprealty.com

1545 Obispo AVE Long Beach, CA 90804

Juan Ponce

Key Details

Location

Interior

Exterior

Building

Others

Nearby Locations

GET MORE INFORMATION

Go tour this home

1545 Obispo AVE