Updated Four-Unit Residential
New
For Sale
$1,750,000
449 Redondo Ave, Long Beach, CA 90814
Three remodeled apartments complement a bungalow with period detailing, separate laundry, and dual-pane windows.
Property Size3,198 SF
Days on Market4
Property Features for 449 Redondo Ave
General Information
Standard status
Active
Size
3,198 SF
Total Parking Spaces
7
Property subtype
Investment
Units
Unit Mix
1 x 3BR/1BA, 1 x 2BR/1BA, 2 x 1BR/1BA
Multifamily Units
4
Additional Details
Highway Access
Yes
Amenities
pergola
landscaped front yard
covered front porch
private backyard patio
storage shed
Building Details
Building Size
3,198 SF
Year Built
1962
Buildings
2
Stories
2
Units
4
Listing Agency:
Circle Real Estate
Listed By:
Richard Daskam · License #01091037
(562) 857-1965
Source:
Elliman
Added: Oct 14
Changed: Oct 15
Last Checked: Oct 16 at 10:07AM
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 Circle Real Estate
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
At 449 Redondo Ave, this four-unit property combines a California bungalow with a separate, remodeled rear building. The front residence measures approximately 1,191 square feet and has three bedrooms, one bath, a remodeled kitchen, wood flooring, dual-pane windows, and a full-size laundry area. The rear building is approximately 2,000 square feet and contains a two-bedroom, one-bath apartment plus two one-bedroom, one-bath apartments. Renovated kitchens and baths, luxury vinyl plank flooring, fresh paint, and ceiling fans are among the updates. The bungalow also features a covered front porch and landscaped yard; one rear apartment has a private patio and storage shed, while the upstairs units have vaulted ceilings with exposed wood beams.
Parking includes two extra-long garages and five additional driveway spaces. Prior improvements include a bungalow foundation upgrade and retrofit, a new sewer main line with multiple clean-outs, and vinyl siding on the bungalow. Shops and dining on 4th Street, Belmont Shore, Bixby Park, the beach, Long Beach Airport, and CSULB are identified nearby, with freeway access also noted.
Parking includes two extra-long garages and five additional driveway spaces. Prior improvements include a bungalow foundation upgrade and retrofit, a new sewer main line with multiple clean-outs, and vinyl siding on the bungalow. Shops and dining on 4th Street, Belmont Shore, Bixby Park, the beach, Long Beach Airport, and CSULB are identified nearby, with freeway access also noted.
Key Highlights
- Four residential units: a three‑bedroom bungalow, one two‑bedroom apartment, and two one‑bedroom apartments
- Front residence: approximately 1,191 square feet; separate rear building: approximately 2,000 square feet
- Two extra‑long garages plus 5 driveway parking spaces
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$68,759
Cap Rate
3.93%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,375,180
$1.4M
Cap Rate 7%
$982,271
$982.3K
Cap Rate 9%
$763,989
$764.0K
Market Conditions
NOI Build-Up for 3,198 SF
Gross rent
$103.6K $32.40/SF
− Vacancy
−$5.4K −$1.68/SF
EGI
$98.2K $30.72/SF
− OpEx
−$29.5K −$9.21/SF
NOI
$68.8K $21.50/SF
Area
Long Beach, CA
Vacancy
5.20%
Lease Rate
$32.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,375,180
Cap Rate 7%
$982,271
Cap Rate 9%
$763,989
Alternative Uses
Best Use
Multifamily LT 5
$982.3K
$859.5K – $1.15M
NOI $68,759 @ 7.0% cap · market cap 3.93%
Second Best
Apartment 5plus
$873.7K
$764.5K – $1.02M
NOI $61,157 @ 7.0% cap · market cap 3.49%
Theoretical Best
Office A
$1.71M
$1.50M – $2.00M
NOI $119,854 @ 7.0% cap · market cap 6.85%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
4
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,923
Businesses Nearby
Explore this area
Business Placement
Demographics for 90814, CA
19,042
Population
9,939
Households
1.9
Avg Household Size
39
Median Age
56%
College-Educated
92%
High-School Grad
1.3 sq mi
ZIP Area
14,648
Density / Sq Mi
$98,070
Median Household Income
$60,482
Median Earnings
$1,987
Median Rent
$898,700
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Quadplex - Three remodeled apartments complement a bungalow with period detailing, separate laundry, and dual-pane windows.
Where is this quadplex located?
The property is located at 449 Redondo Ave Long Beach, CA.
What is the asking price?
The asking price for this property is $1,750,000.
What are key features of this property?
This property features: Four residential units: a three‑bedroom bungalow, one two‑bedroom apartment, and two one‑bedroom apartments; Front residence: approximately 1,191 square feet; separate rear building: approximately 2,000 square feet; Two extra‑long garages plus 5 driveway parking spaces
