1135 Raymond Avenue

Property Overview

HIGHLY COVETED 1980'S CONSTRUCTION - PRICED AT 10.3 GRM AND 6.6% CAP ON MARKET RENTS. 9 units in Long Beach built in 1987, NOT subject to rent control, only subject to AB 1482 rent control - maximum annual increase of 5% + CPI (currently 8.7% total). Located in a great location on the East side. Long Beach has undergone major redevelopment with over $8BB of new projects in the past few years. The property is professionally managed and well maintained with onsite laundry. It also features onsite parking for every unit - a rarity in parking impacted Long Beach. The property features an excellent unit mix of 1 and 2 bed units with rents approximately 10% below market. Built in 1987 this property features copper plumbing and modern electrical. Qualified Buyers can obtain a new loan fixed at 5.40% for 5 years, Interest Only. Anduril Industries, a cutting-edge defense technology company specializing in AI applications announced that it is commencing a $1 billion redevelopment of land adjacent to the LB Airport. The project is planned to be completed in mid-2027 and is expected to create 5,500 new direct jobs at the site plus thousands of indirect construction and supply-chain service jobs. The City also approved a $38MM revamp of Long Beach Airport in preperation for the 2028 Olympic games.

Home Details

Property type: ResidentialIncome
Year built: 1987
Living area: 7,128 sq ft
Lot size: 6,495 sq ft
Parking: 12 spaces
Stories: 2
Days on market: 69
MLS status: Active
Zoning: LBR2N

Features & Amenities

Parking

Assigned

Community, Schools & Utilities

Utilities

Heating: WallFurnace
Cooling: None

Browse more homes for sale in Long Beach

Location & Neighborhood

Long Beach, CA 90804

Open in Google Maps Open in Apple Maps

Frequently Asked Questions About 1135 Raymond Avenue

Property type: Residential Income

The current asking price is $2,289,000. Pricing is subject to change and may vary based on market conditions, negotiations, and property updates. Contact our team to verify current pricing.

Yes. Use the Book Visit action or contact form to request an in-person or virtual tour of 1135 Raymond Avenue. Our team will confirm availability and timing.

This 16 bedrooms and 10 bathrooms property offers approximately 7,128 square feet of living space. It was built in 1987. Review the listing details and disclosures, then independently verify material features before making a decision.

The property is in Long Beach, California. Review the map, visit at relevant times of day, and verify schools, commute routes, services, noise, hazards, and local rules for the exact address.

Financing depends on the buyer, lender, property type, condition, appraisal, insurance, and association documents. A qualified lender can confirm available programs and costs for this Long Beach property.

The MLS currently reports the property as Active. It has been listed for 69 days. Status can change, so verify availability before relying on it.