Home | Los Angeles County | Long Beach | 90804 | 1059 Gladys
MLS: CRPW26200874 | Status: | Price: $2,295,000
Beds/Baths: – / –
Property Type: Residential Income
| Beds | Baths | Sq Ft | Sq Ft Lot | Yr Built |
|---|---|---|---|---|
| – | – | – | 6,502 | 1923 |
1059 Gladys Avenue presents the opportunity to acquire a 12-unit multifamily property in popular Eastside Long Beach. The property offers all 1BD/1BA units (two are renovated) with on-site laundry facilities. Electricity is separately metered, while gas is master-metered with one water heater. The assumable financing is particularly compelling: approximately $1.451 million at a fixed 3.57% interest rate, representing roughly 63% LTV and fully amortizing over the remaining loan term. Annual debt service is ~$78,870. In the current interest-rate environment, this low cost of debt is a significant investment advantage. At the $2.295 million asking price, the property produces approximately $126,809 in current NOI, equating to a 5.53% current cap rate. Because the going-in cap rate is substantially higher than the 3.57% mortgage rate, investors benefit from meaningful positive leverage. After debt service, the property is projected to generate approximately $47,939 in annual pre-tax cash flow, providing a 5.68% current cash-on-cash return on the approximately $844,000 down payment. Eastside Long Beach is a well-established and highly desirable rental neighborhood, offering residents a compelling combination of walkability, affordability and proximity to the city’s coastal lifestyle a
| Field | Value |
|---|---|
| MLS # | CRPW26200874 |
| MLS Source | California Regional MLS |
| Days on Site | 10 |
| Feature | Details |
|---|---|
| Garage/Parking | Garage: 0 Car(s) |
| Listing Agent | Co-Listing Agent |
|---|---|
| Robert Stepp | Todd Hawke |
| Keller Williams Realty Downey | |
| License #: 01456379 | License #: 01376219 |
| Phone: (310) 774-3740 | Phone: (562) 209-7783 |
| # Buildings | # Leased Units | # Total Units |
|---|---|---|
| 1 | – | – |
School data provided by GreatSchools.org
| School | Type | Grades | Distance | Rating |
|---|---|---|---|---|
| Willard Elementary School | public | K-5 | 0.11 mi | 3 |
| Lee Elementary School | public | K-5 | 0.52 mi | 6 |
| Jefferson Leadership Academies School | public | 6-8 | 0.60 mi | 7 |
| Burbank Elementary School | public | K-5 | 0.62 mi | 7 |
| Bryant Elementary School | public | K-5 | 0.79 mi | 6 |
| Mann Elementary School | public | K-5 | 0.94 mi | 7 |
| Fremont Elementary School | public | K-5 | 1.00 mi | 8 |
| Wilson High School | public | 9-12 | 1.02 mi | 6 |
| Whittier Elementary School | public | K-5 | 1.03 mi | 5 |
| Lincoln Elementary School | public | K-5 | 1.09 mi | 7 |
| Jessie Nelson Academy | public | 6-8 | 1.09 mi | 3 |
| Alvarado Elementary School | public | K-5 | 1.15 mi | 9 |
| Richard D. Browning High | public | 9-12 | 1.16 mi | 5 |
| Franklin Classical Middle School | public | 6-8 | 1.17 mi | 4 |
| Robinson Academy | public | K-8 | 1.30 mi | 5 |
| Washington Middle School | public | 6-8 | 1.30 mi | 4 |
| Polytechnic High School | public | 9-12 | 1.52 mi | 7 |
| Signal Hill Elementary School | public | K-5 | 1.53 mi | 8 |
| Stevenson Elementary School | public | K-5 | 1.55 mi | 5 |
| Roosevelt Elementary School | public | K-5 | 1.64 mi | 5 |
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This listing information is up-to-date as of September 14, 2026. For the most current information, please contact Robert Stepp, (310) 774-3740.