Property Detail
Description
Pleased to present 1005 East Harding Street, a well-maintained 10-unit apartment community in Long Beach's desirable North Long Beach submarket. The property features a strong unit mix of three 1-bedroom/1-bath units, six 2-bedroom/1-bath units, and one spacious 3-bedroom/1-bath unit with a fireplace, generating $20,741 per month in gross scheduled rent with additional income from four garages and on-site laundry. The property is fully all-electric with no gas. Current ownership has invested approximately $200,000 in capital improvements including updated kitchens, bathrooms, plumbing, laminate flooring in select units, and a completely new electrical system throughout the property — significantly reducing the capital expenditure burden for a new investor. SB 721 balcony inspections have been completed and approved with the City of Long Beach, eliminating a common compliance concern for buyers of properties built before 2000. The property delivers a 6.14% cap rate on current income with a clear path to a 7.03% proforma cap rate through maximum allowable rent increases under AB 1482. This is an investment opportunity for a buyer seeking stable cash flow with built-in upside through strategic management.
Map Location
Listing provided courtesy of Erik Ransdell of Erik Michael Ransdell, Broker. Last updated 2026-08-19 08:10:57.000000. Listing information © 2026 CRMLS.
John Collins
DRE# 01948188
888 Prospect St. Suite 140
La Jolla, CA 92037
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858.252.0200
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Address
888 Prospect St. Suite 140 La Jolla CA 92037
Coldwell Banker Realty, CalBRE# 00616212
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