1128 Temple AVE, Long Beach, CA 90804 (MLS # PW26236589)
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1128 Temple Avenue is an eight-unit multifamily investment opportunity located in Long Beach, California. Built in 1987, the three-story property features 100% spacious two-bedroom/two-bathroom residences averaging approximately 956 square feet. Four of the eight units offer private balconies, while additional amenities include 13 secure parking spaces and individually metered gas and electricity, providing desirable resident conveniences and operational efficiencies. Offered at $2,500,000, the property presents a compelling value proposition with pricing metrics that compare favorably to recent sales. The projected 6.55% capitalization rate exceeds the comparable average of 5.95%, while the 9.80 gross rent multiplier is notably below the 12.02 comparable average. These metrics underscore the property's attractive relative valuation and competitive income potential. Currently operated as student housing with rental income generated on a per-bed basis, the property is being marketed as a conventional market-rate multifamily investment. The pro forma reflects a transition to traditional per-unit leasing, with conservatively projected monthly rents of $2,495 per unit, approximately 2% below the surveyed comparable average of $2,547. This measured underwriting approach provides investors with additional rental upside potential beyond projected income. Situated within Long Beach's established residential market, the property benefits from proximity to the city's diverse employment base, coastal amenities, and expanding aerospace and technology sectors. With a projected net operating income of $163,695, attractive acquisition metrics, and the opportunity to transition to conventional multifamily operations, 1128 Temple Avenue offers investors a compelling opportunity to acquire a well-located asset at a favorable basis relative to recent comparable transactions.
| DAYS ON MARKET | 1 | LAST UPDATED | 11/3/2026 |
|---|---|---|---|
| TRACT | Eastside (ES) | YEAR BUILT | 1987 |
| COMMUNITY | 3 - Eastside, Circle Area | GARAGE SPACES | 13.0 |
| COUNTY | Los Angeles | STATUS | Active |
| PROPERTY TYPE(S) | Residential Income |
| ADDITIONAL DETAILS | |
| AREA | 3 - Eastside, Circle Area |
|---|---|
| GARAGE | Yes |
| LOT | 6504 sq ft |
| LOT DIMENSIONS | 6502 |
| POOL DESCRIPTION | None |
| SEWER | Public Sewer |
| STORIES | 3 |
| SUBDIVISION | Eastside (ES) |
| WATER | Public |
TOTAL MONTHLY PAYMENT
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Based on information from California Regional Multiple Listing Service, Inc. as of 11/4/26 1:37 AM PST and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
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