643 Elm AVE Long Beach, CA 90802
2,352 Sqft Lot
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Duplex
Listing Status Active
Purchase Type For Sale
Subdivision East Village
MLS Listing ID PW26180275
HOA Y/N No
Year Built 1917
Lot Size 2,352 Sqft
Property Sub-Type Duplex
Property Description
Both units showcase updated interiors with newer laminate flooring, tile kitchens, and remodeled bathrooms, blending modern comfort with low-maintenance living.
At $799,000, this duplex is currently producing a 7.45% cap rate on actual rent roll and operating expenses. With an 8.7% rent increase effective December 2026, the cap rate rises to 8.17%, well above the 5% to 6% range typical for small multifamily properties in the 90802 area. Add over $24,800 in completed capital improvements, including full bathroom and kitchen tile remodels, new flooring throughout, updated electrical and lighting, and fresh paint in both units, and this is a property offering both immediate cash flow and built-in upside.
The property also includes a detached garage and a long driveway that provides abundant off-street parking. Gas and electric are separately metered for efficiency, and both units are tenant-occupied on month-to-month terms, giving maximum flexibility moving forward. Ideally located near dining, shopping, the beach, and freeway access, this property combines a prime Long Beach location with unmatched scale.
Whether you are looking to expand your portfolio or take advantage of value-add opportunities, this duplex checks all the boxes.
Location
State CA
County Los Angeles
Area 4 - Downtown Area, Alamitos Beach
Zoning LBPD30
Interior
Interior Features Ceiling Fan(s)
Heating Wall Furnace
Cooling None
Flooring Laminate, Tile
Fireplaces Type None
Fireplace No
Appliance Gas Oven, Gas Range, Refrigerator
Laundry None
Exterior
Garage Spaces 1.0
Garage Description 1.0
Pool None
Community Features Sidewalks
Utilities Available Cable Connected, Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
View Y/N Yes
View Neighborhood
Total Parking Spaces 1
Private Pool No
Building
Lot Description 2-5 Units/Acre
Story 2
Entry Level Two
Sewer Public Sewer
Water Public
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 7273027010
Acceptable Financing Cash, Cash to Existing Loan, Cash to New Loan, Conventional
Listing Terms Cash, Cash to Existing Loan, Cash to New Loan, Conventional
Special Listing Condition Standard
Lease Land No
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