Willmore, Long Beach, CA Investment Properties

Willmore, Long Beach, CA Homes for Sale

About Willmore, Long Beach, CA Investment Properties

Willmore is a historic district known for its well-preserved cultural landmarks mixed in with beautiful custom homes and art deco buildings. Aside from its cultural significance, the neighborhood is also part of the commercial and business center of the city. There are various restaurants, chain stores, boutiques, cafes, and other local shops in the area including the nearby City Place Shopping Center, one of the largest in the city which is perfect for shopping daily necessities. The many notable residences and public parks in the area provide ample opportunity for fun outings with the family. Residents can also visit the beaches of Long Beach where they can enjoy the refreshing salt water.

Properties in Willmore offer excellent investment opportunities that are ideal as rental homes and apartments. There are plenty of condominiums in the area including The Wilmore, a historic 11-story building with beautiful Italian Renaissance architecture. Apartments and multi-family residences are the most common residential properties in the community providing buyers with a variety of choices when looking for a home to purchase. Single-family homes are also plentiful in the neighborhood, and each of these houses have custom designs and architecture.

Notable Locations:

Historic Bembridge House
St. Mary Medical Center
Cesar E. Chavez Park
City Place Shopping Center

School Information:

Edison Elementary School
Jessie Elwin Nelson Middle School
Boyd High School

Listings in Willmore, Long Beach, CA Investment Properties

1019-1027 Cedar Avenue is a 26-unit turn-key property with 14 parking garages in the up-and-coming Willmore City Historic District, just north of Downtown Long Beach. The property offers 22 one-bedroom/one-bath and 4 two-bedroom/one- bath units. All units are completely remodeled with new wood laminate flooring, custom cabinetry, quartz countertops, stainless steel appliances, new bathroom vanities, and modern lighting and fixtures throughout. The building also features 14 garages, a community courtyard with BBQ and dining facilities and on-site laundry facilities. This property is in very close proximity to all of the exciting amenities and employment opportunities in Downtown Long Beach. This location is popular for commuters because it offers easy access to the 710 and 405 freeways as well as the Metro Blue Line which runs between Downtown Long Beach and Downtown Los Angeles, with 22 stops along the way. 1019-1027 Cedar Avenue offers an investor the opportunity to own a completely remodeled, turn-key asset in a growing area adjacent to booming Downtown Long Beach. Willmore is one of Long Beach's oldest neighborhoods, located on DTLB's western edge and bordering the L.A. River. Here you'll find a large concentration of turn- of-the-century homes. The Willmore neighborhood reflects Long Beach's past, present and future.
1019 Cedar Avenue
Long Beach, California
  • 15,566 SqFt
  • 0.338 Acres
Turnkey non-rent controlled apartment complex comprised of 13 spacious (1 Bed + 1 Bath) units averaging 600 SF each located in vibrant Downtown Long Beach.  Current ownership has remodeled 100% of the unit interiors with high end modern finishes and fixtures, all of which were permitted through the City of Long Beach.  The majority of units are now leasing for $1595 enabling a Buyer to capture a 5.32% Cap Rate by leveling rents.  The Downtown area has become one of the most soft after sub-markets in Greater Los Angeles for institutional capital due to its coastal location and business friendly climate, which has led to significant rent growth and high occupancy levels over the past few years.  There are (6) on-site garages renting for $150/mth each, a common laundry facility and a beautifully landscaped courtyard including a permitted stainless steel BBQ for tenants to enjoy.
939 Pacific Avenue
Long Beach, California
  • 7,836 SqFt
  • 0.172 Acres
CASH COW AND ADDED VALUE PROPERTY.  By reviewing the rent rolls a Savy Investor will discover extremely high Gross Scheduled Income and a very favorable low Gross Scheduled Margin.  This 13 unit listing sits on 2 side-by-side parcels and is being sold as one purchase. 1233 Daisy has 9 units and 1245-1247 Daisy has 4 units and as a result, the new owner will be buying a city block. This can be well seen in the Drone Video Virtual Tour. Each parcel has its own separate courtyard that is enjoyed by the tenants and a 1 community laundry room that provides extra income.  The two properties have been modified to blend together for easy management. The entire complex has a very low vacancy rate due to the quality of the building condition and is located close to Long Beach's major transportation corridors. Property has been professionally managed to maintain high maintenance  standards and low tenant turnover
1233 Daisy Avenue
Long Beach, California
  • 5,682 SqFt
  • 0.101 Acres
Come see this Investment Opportunity in the Drake Park/Willmore City Historic District. The main home, which has the address of 1166 Magnolia Ave, is a Craftsman Home, is detached and has 2 bedrooms downstairs and 2 upstairs. The home has been updated with new paint inside and out, floors, kitchen and bathrooms. Behind the home there is a private back yard. There is a fence that separates the front and back and a 2 car detached garage in between. The back units have also been updated and are accessed via a back driveway that is shared with the neighbors, via Loma Vista Drive. The downstairs is a 2 bedroom unit and there are 2 one bedroom units upstairs. This property is great for investment by renting it all out or living in the front house and renting the back 3 units. For the investor, note that the renovation involved significant investment in new electrical and plumbing, thereby bringing down your expense ratio. Check the supplements for information on Fair Rents according to the Housing Authority for the City of Long Beach for their Section 8 program. Also, please note: the property is located in an Opportunity Zone that confers tax benefits to the owner, from capital gains tax deferral, to the elimination of capitals gains tax entirely, if held for the appropriate length of time. Along with interest deductibility and depreciation allowance, the cost of ownership is significantly lowered.
1228 Loma Vista Drive N
Long Beach, California
  • 2,858 SqFt
  • 0.118 Acres
The Cedar Avenue Apartments is a six-unit multi-family community located in the City of Long Beach. Located at 1044 Cedar Avenue, this investment presents a stable, low expense, turn-key opportunity with a 6.25% CAP Rate and 11.70% total return on current income.
 
The building is comprised of (1) large, four bedroom/ two bathroom house, (2) two bedroom/ one bathroom units, (2) one bedroom/ one bathroom units, and (1) large, 1,000 square foot two bedroom/ one bathroom non-conforming unit. The property also offers amenities including an on-site laundry facility, gated yard, and ample on-site parking. The plumbing and electrical has also recently been updated. 

The City of Long Beach continues to progress forward and is currently experiencing major redevelopment. The Long Beach Port is undergoing $4.4 billion in future redevelopment that will create 14,000 new and permanent jobs in Southern California. The Long Beach market has enjoyed strong rental growth and growing tenant demand over the past few years.
1044 Cedar Avenue
Long Beach, California
  • 4,744 SqFt
  • 0.171 Acres
We are pleased to present 1160 Magnolia Avenue, a four unit apartment building located in the City of Long Beach, California. 

Built in 1920, the property is situated on a 5,523 square foot lot zoned LBPD10 near the intersection of Magnolia Avenue and N Loma Vista Drive. The property consists of one two bedroom, one bathroom unit with a den, one one bedroom, one bathroom unit with a den and two studio units. With access to the property from Magnolia Avenue and Loma Vista Drive, the property boasts a driveway capable of tandem parking three cars. All the units are individually metered for electricity and gas.

Located in the historic Wilmore area of town, this property boasts convenient access to the 710 freeway and all of downtown Long Beach. City dollars have been flowing in the Wilmore area creating soccer, basketball, and skateboarding recreation zones. Located in a strong rental market in Long Beach, the city continues to progress forward and is currently experiencing major redevelopment. The Long Beach Port is currently undergoing 4.4 billion in future redevelopments, creating 14,000 new and permanent jobs in Southern California.

Highlights: 
-Recent Renovations: 2 of 4 units completely renovated, two brand new electric water heaters, brand new exterior woodwork and paint, and newly installed turf
-Value-Add: A new investor has the opportunity to capitalize on the strong rental demand in the area and bring the two studio units up to market
-Opportunity Zone
1160 Magnolia Avenue
Long Beach, California
  • 2,478 SqFt
  • 0.127 Acres
Triplex + 2 non conforming units for a TOTAL OF 5 UNITS!

Great opportunity to invest in the Willmore historic district which is located just north of Downtown Long Beach. This property features a large front house (house is permitted as one unit but was split into 3 units) and a duplex in the rear. The house consists of a 1bed/1bath unit in the attic with a 3bed/1bath unit, studio unit, and community laundry room on the first floor. Units in the house rent for $2100-3bd/1ba, 1bd/1ba- $913, and studio- $777. Market rents for these units are $2100, 1300, and 1150 respectively. 
Excellent location, blocks from the Downtown core and easy access to freeways and public transit.  (2) 1-car garages and a 4-car driveway which produce additional rental income. Onsite laundry room with coin operate machines. Two of the units have been completely renovated and the exterior of the property got a full refresh in 2015. The property is priced at 12 x gross based on current rents and at market rents the property would operate at a GRM of 10.21! " Do not disturb tenants.
417 8th Street W
Long Beach, California
  • 3,180 SqFt
  • 0.129 Acres
Amazing opportunity to own an amazing 3 unit property in the quickly appreciating zip code of 90802 in downtown Long Beach! This property is situated in an incredible location - just blocks away from Pine & Ocean Blvd. Each unit has been recently renovated and is in incredible and turnkey condition. All rents have been brought up to market value. This property runs like a well oiled machine. This is perfect for a buyer who wants to live in one unit and rent out the other two, or it is perfect for any person who wants to own a beautiful piece of real estate that will manage itself. This location cannot be beat in terms of long term investment! The exterior and interior have been completely remodeled in the last year. Each unit has copper piping, and the parking circumstances are phenomenal. There are three interior spots available - one parking spot for each of the 3 units  - so valuable in the downtown 90802 zip code of Long Beach! Don't let this opportunity pass you up...
531 Virginia Court N
Long Beach, California
  • 1,987 SqFt
  • 0.076 Acres
Presenting one of the most Iconic Spanish Duplex's for sale in the Historic Wilmore District of Long Beach. Tucked right above downtown, this beautiful neighborhood still features eye-catching architecture on every corner. Close enough to the beach & downtown yet positioned closer to restaurants, schools, shopping & freeways for the ease and convenience of modern living. The main home features 3 beds, 2 baths, eat-in kitchen, new bathrooms, and many more timeless upgrades. The second home is a two-story with 1 bed and a half bath downstairs, kitchen, living room, full bathroom and another bedroom upstairs. Both homes have designated laundry areas making multifamily living truly convenient. Between both homes, deferred maintenance has always been a priority modernizing elements inside both homes as needed such as but limited to copper plumbing, interior & exterior paint, electrical box, additional power outlets, 100-foot french drain, ductless air conditioning & heating, new windows, resurfaced walls & ceilings, recessed lighting and much more. Perhaps the best feature of this property is this oversized corner lot with drought-tolerant garden creating majestic ambiance and privacy. A 115-foot custom solid wrought iron perimeter fence was installed with a motorized carport gate. Parking has been extended for ample space easily allowing up to 6 vehicles and a 1 car garage. This property shines through and through making it both a great investment and a place to call home.
401 11th Street W
Long Beach, California
  • 2,255 SqFt
  • 0.122 Acres
Offering a 4.24% Cap Rate on current rents, 848-850 Magnolia Ave. is a charming duplex made up of (1) 3-bed/1-bath and (1) 2-bed/1-bath in Downtown Long Beach. 
The property was completely gutted in 2001 with all new copper plumbing, gas & sewer lines, electrical, electrical panels, heaters, and flooring. There are (5) total parking spaces in the backyard, which has been recently repaved. Each unit has their own washer/dryer and is receiving strong rents.
This is the perfect opportunity for any buyer or owner/user looking to own a piece of one of Southern California's last affordable beach communities.
The three bedroom unit will be ready for owner occupy.
848 Magnolia Avenue
Long Beach, California
  • 1,350 SqFt
  • 0.110 Acres
Clean, updated duplex in the Downtown area of Long Beach. Just blocks from Ocean Bl., the Pike, Aquarium, Pacific Ocean, the Beach, Restaurants, and Shopping.   Completely remodeled inside and out, Granite Counters in kitchens, Vanity cabinets in bathrooms, Crown molding throughout, laminate flooring in all rooms tile floors in kitchens and baths. Two individual, attached garages, one with direct access to one of the units.  Ample extra parking off-street, as well. Fully fenced with a security wrought iron gate.
514 Daisy Avenue
Long Beach, California
  • 948 SqFt
  • 0.058 Acres
Three units in this building for sale as a package.  Yes, you get all 3 units for one low price!  Two Studios and One 1-bedroom.  Well maintained building with very low HOA fees that are paid quarterly.  Rents have some room for improvement. Make an offer today for this awesome deal.
619 Cedar Avenue
Long Beach, California
  • 1,536 SqFt
  • 0.172 Acres

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