940 MLK Jr Ave. & 1012–1020 E 10th St,
Long Beach, CA 90813
Property Overview
- Address 940 MLK Jr Ave. & 1012–1020 E 10th St. Long Beach
- Sq. Ft. 18,017
- Type Land / SFR
- Zone OZ, DDA, QCT
Property Description
940 MLK Jr Ave. & 1012–1020 E 10th St. in Long Beach, a compelling investment opportunity located within one of the region's most desirable infill markets. This 3,981 SF residential asset offers an attractive combination of location, land value, and long-term upside at an offering price of $2.52M ($633/SF).
Situated on an expansive 18,017 SF lot, the Property provides investors with a unique opportunity to acquire a well-positioned asset with significant underlying real estate value. The 2-bedroom / 1-bathroom residence features a functional layout and benefits from its proximity to major transportation routes, neighborhood amenities, and Long Beach's growing employment and retail corridors.
Built in 1949, the Property offers immediate functionality with additional upside through rental optimization. Current rents of $2,259 per month are below estimated market rents of $3,500 per month, creating a clear opportunity for future income growth while benefiting from favorable zoning designations including LBR4N and PD30.
Backed by strong market fundamentals and located in a supply-constrained coastal market, 940 MLK Jr Ave. & 1012–1020 E 10th St. represents an attractive opportunity for investors seeking a well-located asset with rental upside, land value, and long-term appreciation potential.
