6641 Hammond AVE, Long Beach, CA 90805
6641 Hammond AVE, Long Beach, CA 90805
6641 Hammond AVE, Long Beach, CA 90805
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$1,250,000
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5,227 Sqft Lot
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6641 Hammond AVE Long Beach, CA 90805

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Marie Goodloe

Marie Goodloe

+1(310) 251-0795

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Key Details

Property Type Multi-Family

Sub Type Quadruplex

Listing Status Active

Purchase Type For Sale

Subdivision North Long Beach (Nlb)

MLS Listing ID OC26101020

HOA Y/N No

Year Built 1959

Lot Size 5,227 Sqft

Property Sub-Type Quadruplex

Property Description

6641 Hammond Avenue is a 4-unit multifamily investment property located in Long Beach, California. The adjacent 4-unit property at 6645 Hammond Avenue is also available, with each property offered at $1.25 million or both assets available together for $2.5 million, allowing investors to acquire either property individually or purchase a larger 8-unit footprint on contiguous parcels. Built in 1959, the property consists entirely of two-bed/one-bath units, offering a desirable and efficient unit mix in a supply-constrained Southern California rental market. The offering is priced at an attractive 5.52% cap rate on current rents, with projected upside to a 6.77% cap rate on market rents. This provides investors with immediate in-place yield and a clear path to improved performance through continued rent growth and more efficient income management. The property is situated on a 0.12-acre parcel and features approximately 3,000 net rentable square feet. Community amenities include in-unit laundry hookups, individual water heaters, and five surface parking spaces. The surface parking spaces are currently not separately monetized, providing a potential opportunity to create additional income through parking fees, subject to market demand and tenant considerations. In addition to existing income upside, the rear parking area may offer ground-up Accessory Dwelling Unit (ADU) development potential. A new owner may be able to explore the addition of one or more accessory dwelling units to increase rentable square footage and long-term income, subject to Long Beach requirements, site constraints, parking considerations, and approval from the appropriate municipal authorities. 6641 Hammond Avenue benefits from a central Long Beach location with convenient access to surrounding employment centers, retail corridors, and neighboring cities including Paramount and Bellflower. Residents are just 0.60 miles from a Target and Food 4 Less anchored retail center along Cherry Avenue, providing convenient access to everyday shopping and essential services. The property is also located approximately 2.5 miles from Lakewood Center, one of the area's major shopping destinations and employment hubs, offering a wide range of retail, dining, and service-oriented amenities. Overall, 6641 Hammond Avenue represents an attractive Long Beach multifamily opportunity with strong in-place returns, market-rent upside, unmonetized parking income potential, and possible ADU upside.

Location

State CA

County Los Angeles

Area 7 - North Long Beach

Interior

Fireplace No

Laundry Washer Hookup, Gas Dryer Hookup, In Kitchen

Exterior

Pool None

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

Total Parking Spaces 5

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 7120015055

Energy Description 617.0

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 Christian Tait Marcus & Millichap RE Invest christian.tait@marcusmillichap.com, DRE #02111248
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Marie Goodloe

Marie Goodloe

Agent | License ID: 01160799

+1(310) 251-0795

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6641 Hammond AVE