1403 Lemon Avenue Welcome to 1403 Lemon Avenue, an outstanding multifamily investment located in the vibrant, rapidly appreciating area of Long Beach, California. This well-positioned five-unit income property offers investors a rare blend of strong in-place cash flow, potential for long-term value appreciation, all in one of Southern California's most dynamic coastal cities. Positioned on a 6, 519 square foot lot, the property consists of five distinct units with a combined living area of approximately 2, 700 square feet. The unit mix includes: - One detached 4-bedroom, 2-bath front house, offering the feel and privacy of a single-family residence. - One 4-bedroom, 1-bath unit, perfect for larger households or shared living scenarios. - Three 2-bedroom, 1-bath units, ideal for small families, professionals, or long-term tenants. This unit diversity not only maximizes rental appeal across a broad demographic but also minimizes vacancy risk, ensuring a reliable income stream for the savvy investor. Strong Income with Upside Potential Currently two vacancies, 1403 Lemon Ave delivers an impressive 8.76% cap rate-a rare find in today's Southern California market. With below-market rents in place and room for value-add improvements, there's still significant upside potential for rental increases over time, particularly as the Long Beach rental market continues to strengthen. For investors seeking a stabilized asset with future growth potential, this property offers both: strong existing cash flow and long-term opportunity for rent optimization and appreciation. Parking & Storage: Valuable Add-Ons The property includes four garages and two uncovered driveway parking spaces, a premium amenity in this densely populated urban neighborhood. These spaces could potentially generate additional income if rented separately or bundled with leases-another layer of return on your investment. Garages may also appeal to owner-users, short-term rental hosts, or tenants needing extra storage. Prime Location Near Downtown Long Beach