Home | Los Angeles County | Long Beach | 90813 | 1019 Lewis
MLS: CRPW26209030 | Status: | Price: $3,700,000
Beds/Baths: – / –
Property Type: Residential Income
| Beds | Baths | Sq Ft | Sq Ft Lot | Yr Built |
|---|---|---|---|---|
| – | – | – | 10,172 | 1961 |
1019 Lewis Avenue presents the opportunity to acquire a substantially renovated 16-unit multifamily property offering strong in-place cash flow, a stable income profile and additional rental upside in a highly walkable north Downtown Long Beach location. Offered at $3,900,000, the property generates a 7.00% current cap rate, with upside to a 8.14% market cap rate as rents move toward market levels. Ownership has invested approximately $400,000 in capital improvements, significantly reducing near-term capital expenditure requirements for a new investor. Fifteen of the property's 16 units have been fully renovated, while major building improvements include a new roof on one building, a newly sealed roof on the second building, a new 400-amp main electrical panel, upgraded subpanels and majority copper plumbing. The property features a highly desirable unit mix consisting of (14) 2BD/1BA units and (2) 1BD/1BA units. Current rents average $2,168 per unit, compared with projected market rents of ~$2,325, representing approximately 7% overall rental upside. Scheduled rental income has the potential to increase from $416,268 to $446,400 annually as rents are brought toward market levels. The property benefits from a stable income profile, with the majority of residents participating in
| Field | Value |
|---|---|
| MLS # | CRPW26209030 |
| MLS Source | California Regional MLS |
| Days on Site | 10 |
| Feature | Details |
|---|---|
| Laundry | Community Facility |
| Feature | Details |
|---|---|
| Garage/Parking | Garage: 0 Car(s) |
Robert Stepp
Keller Williams Realty Downey
License #: 01456379
Phone: (310) 774-3740
| # Buildings | # Leased Units | # Total Units |
|---|---|---|
| 2 | – | – |
School data provided by GreatSchools.org
| School | Type | Grades | Distance | Rating |
|---|---|---|---|---|
| Lincoln Elementary School | public | K-5 | 0.21 mi | 7 |
| Franklin Classical Middle School | public | 6-8 | 0.42 mi | 4 |
| Stevenson Elementary School | public | K-5 | 0.45 mi | 5 |
| Polytechnic High School | public | 9-12 | 0.57 mi | 7 |
| Roosevelt Elementary School | public | K-5 | 0.59 mi | 5 |
| Renaissance High School For The Arts | public | 9-12 | 0.62 mi | 8 |
| International Elementary School | public | K-5 | 0.67 mi | 5 |
| Whittier Elementary School | public | K-5 | 0.79 mi | 5 |
| Burbank Elementary School | public | K-5 | 0.98 mi | 7 |
| Robinson Academy | public | K-8 | 1.02 mi | 5 |
| Washington Middle School | public | 6-8 | 1.02 mi | 4 |
| Educational Partnership High School | public | 9-12 | 1.10 mi | 3 |
| Jessie Nelson Academy | public | 6-8 | 1.14 mi | 3 |
| Alvarado Elementary School | public | K-5 | 1.25 mi | 9 |
| Edison Elementary School | public | K-5 | 1.25 mi | 3 |
| Burnett Elementary School | public | K-5 | 1.33 mi | 4 |
| Willard Elementary School | public | K-5 | 1.35 mi | 3 |
| Lee Elementary School | public | K-5 | 1.35 mi | 6 |
| Chavez Elementary School | public | K-5 | 1.39 mi | 6 |
| Signal Hill Elementary School | public | K-5 | 1.40 mi | 8 |
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This listing information is up-to-date as of October 01, 2026. For the most current information, please contact Robert Stepp, (310) 774-3740.