Versatile Triplex with Renovation
1429 E South, Long Beach, CA 90805
Triplex in Long Beach with owner-assisted renovation potential.
Type:Multifamily
Property size:
5,500 SFPrice / SF:
$272/SF- Added:
- Mar 20, 2026
- Days on Market:
- 58
- Last Refresh:
- Mar 21 at 8:36 pm
Property Features for 1429 E South
General Information
- Standard status
- Active
- Size
- 5,500 SF
- Property subtype
- Multifamily
Listing agent Georgette Solano License #01817587
Listing office Century 21 Allstars (562) 222-5847
Listing date Mar 20, 2026
Source Crexi
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
All listing content including descriptions, pricing, images are the copyrighted material of Century 21 Allstars
HighLights
- Landlord offers build‑out according to buyer's specifications.
- Prime Long Beach real estate with owner‑assisted renovation opportunity.
- Versatile mixed‑use zoning allows for various options including residential, retail, or storefront.
- Potential to develop up to 11 residential units or convert the existing building into 5‑7 units.
- Solid triplex structure with gated parking ready for immediate renovation.
- Property offers 5500 sq ft with 6 parking spaces and 96 feet of frontage on South St.
Overview
This triplex presents a unique opportunity for investors or entrepreneurs. Located on South Street, the property offers a solid structure with gated parking, ready for renovation. The landlord is prepared to build out according to the buyer's specifications, offering assistance with realizing their vision. Unit A and Unit B each feature a 2-bedroom, 1-bathroom layout, with both street and parking access. The configuration of Unit C is to be determined. The property's zoning (LBCNR - MFR) allows for 5x density residential units, potentially up to 11 units, or the existing building can be converted into 5-7 units. The property is suitable for various uses, including storefront, retail, and residential. With 96 feet of frontage on South Street, the property also offers signage opportunities. Built in 1959 and renovated in 2018, the property offers 5500 square feet of space and includes 6 parking spaces. Potential uses include a church, ministry, residential living facility, skilled nursing facility, or apartments (potentially 8-11 units, up to 2 stories).
Financial Insights
Value Estimation Calculated for Multifamily LT 5
Conservative
$1.11M
NOI $99,511 @ 9.00% cap · cautious / downside scenario
Moderate
$1.42M
NOI $99,511 @ 7.00% cap · market / base-case scenario
Aggressive
$1.99M
NOI $99,511 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
Calculated for Multifamily LT 5
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $148.5k | $27.00 |
| − Vacancy | −$6.3k | −$1.15 |
| EGI | $142.2k | $25.85 |
| − OpEx | −$42.6k | −$7.75 |
| NOI | $99.5k | $18.09 |
5,500 SF · lease $27.00/SF/yr · vacancy 4.27% · expense 30.00%
Alternative Use Scenarios
Best Use
Multifamily LT 5
$1.42M
$1.24M – $1.66M
NOI $99,511 @ 7.0% cap · market cap 6.63%
Second Best
Apartment 5plus
$1.31M
$1.15M – $1.53M
NOI $91,866 @ 7.0% cap · market cap 6.12%
Theoretical Best
Office A
$1.65M
$1.44M – $1.92M
NOI $115,315 @ 7.0% cap · market cap 7.69%
Zoning and permitted uses should be independently verified with local authorities.
Location Intelligence
Current Use by Public Records
Wettstein
Photography Service
Ogrodowicz
Photography Service
Location Insight
- Map
- Local Demand
- City
- Long Beach
- County
- Los Angeles
- State
- California
- Longitude
- -118.174936
- Latitude
- 33.860383
Nearby Similar for Sale
FAQs
What type of property is this?
Triplex - Triplex in Long Beach with owner-assisted renovation potential.
Where is this triplex located?
The property is located at 1429 E South Long Beach, CA.
What is the asking price?
The asking price for this property is $1,499,999.
What are key features of this property?
This property features: Landlord offers build‑out according to buyer's specifications.; Prime Long Beach real estate with owner‑assisted renovation opportunity.; Versatile mixed‑use zoning allows for various options including residential, retail, or storefront.
