Description

Discover an exceptional investment opportunity in a prime Long Beach location. 2657 E Monroe St is a fully stabilized five-unit multifamily property offering a strong 7.23% CAP rate with market-rate tenants in place. The property includes RTI (Ready-to-Issue) plans for a new 1-bedroom, 1-bath ADU totaling approximately 437 square feet, with potential to construct up to a total of five ADUs under current California housing laws. Each of the existing units features a spacious 2-bedroom, 1-bath layout, providing approximately 2,968 square feet of living space on an 8,354 square foot lot. Residents enjoy the convenience of an on-site coin-operated community laundry room and low-maintenance landscaping for easy management. Ideally situated near the 405 and 710 freeways, this property offers quick access to major employment centers, CSU Dominguez Hills, and Dignity Health Sports Park. Nearby parks include Anderson Park, Veterans Park, and Victoria Regional Park, with shopping and dining options at Long Beach Towne Center and Carson Marketplace just minutes away. Public transportation options such as the Metro Blue Line and several Long Beach Transit routes provide excellent regional connectivity. With an attractive current GRM of 10.35 and market potential of 8.08, investors can achieve a projected 9.68% CAP rate upon completion of the ADU build-out. This stabilized five-plex with exceptional ADU expansion potential is a rare opportunity in one of Long Beach’s most accessible and growing neighborhoods.