Address
531 N Virginia Court, Long Beach, CA
Price
$ 969,000
Property Attributes
- MLS#SB26155784
- TypeMulti-Family
- Listing Status Active
- CountyLos Angeles
- CityLong Beach
- Area Downtown Area, Alamitos Beach
- NeighborhoodAlamitos Beach (AB)
- Zip90802
- Style
- Year Built1908
- Price$ 969,000
- Bedrooms0
- Full Bathrooms1
- Half Bathrooms0
- Sqr Footage1987
- Lot Size0.0761 Acres
Data Source:
California Regional MLS (CRMLS)
Property Description
Prime Investment Opportunity in Long Beach! This updated 3-unit property offers long-term value and reliable income less than 1/2 mile to the heart of downtown and less than 1 mile to the Ocean. Recent Cap Ex includes remodeled units with newer roofs and plumbing upgrades make for a unique opportunity at this price point. Perfect scenario to live in one unit and offset the mortgage by renting the other two. Surrounded by major developments like the Long Beach Civic Center, Queen Mary Island, and West Gateway, the property benefits from the city's continued investment growth. Just minutes from the vibrant Downtown Long Beach core, residents enjoy easy access to a wide range of dining, shopping, and entertainment options. Nearby Alamitos Beach, Golden & Lincoln Park, and Shoreline Village provide ample recreation opportunities. Conveniently located near the 710 and 405 freeways and the Metro Blue Line, residents also benefit from seamless accessibility to LA & Orange County. Long Beach's thriving economy, supported by its shipping, aerospace, and healthcare sectors, ensures a strong tenant base. Don’t miss this turnkey investment in one of Southern California's most desirable markets!
| Price History | |
|---|---|
| 7/16/2026 | Listed $969,000 |
General Features
| Sewer | Public Sewer |
|---|---|
| Heating | Wall Furnace |
| Cooling | None |
| Roof | Asphalt |
| Appliances | Dishwasher,Gas Range,Microwave,Refrigerator,Water Heater |
| Zoning | LBPD30 |
| Architectural Style | Bungalow |
| Pool Features | None |
| Construction Materials | Asphalt,Wood Siding |
| Exclusions | Tenants Personal Property |
| Year Built | 1908 |
| Tenant Pays | Electricity,Gas |
| View | None |
| Stories Count | 1 |
| Levels | One |
| Property Subtype | Triplex |
| Community Features | Park |
| Accessibility | None |
| County | Los Angeles |
| Net Operating Income | 60623 |
| Operating Expense | 8391 |
| Insurance Expense | 1940 |
| New Construction | false |
| Property Type | Residential Income |
| MaintenanceExpense | 3451 |
| Subdivision Name | Alamitos Beach (AB) |
| Garage Y/N | false |
| Special Listing Conditions | Standard |
| Status | Active |
| Directions | 710 Fwy S to 6th St to N Virginia Ct., Between Magnolia Ave. & Chestnut Ave. |
| City | Long Beach |
| Entry Location | Street |
| Senior Community Y/N | false |
| Open Parking Spaces | 2 |
| Number Of Units Total | 3 |
| MLS Area | 4 - Downtown Area, Alamitos Beach |
| Lot Size Units | Square Feet |
| Lot Size Square Feet | 3315 |
| Number of Units Leased | 3 |
| Listing Terms | Cash,Cash to New Loan,1031 Exchange,FHA |
| Spa Features | None |
| Property Attached Y/N | false |
| Land Lease Y/N | false |
| Property Condition | Updated/Remodeled |
| Water Sewer Expense | 2500 |
| Additional Parcels Y/N | false |
| Rent Control Y/N | true |
| Building Area Units | Square Feet |
| Standard Status | Active |
| Year Built Source | Public Records |
| Tax Lot | 16 |
| Total Actual Rent | 5929 |
| Property Sub Type Additional | Triplex |
| Cap Rate | 6.3 |
| PostalCity | LONG BEACH |
Interior Features
| Interior Amenities | Ceiling Fan(s),Quartz Counters,Recessed Lighting,Bedroom on Main Level |
|---|---|
| Flooring | Vinyl |
| Fireplace Features | None |
| Total Stories | 1 |
| Common Walls | No Common Walls |
| Air Conditioning Y/N | false |
| Heating Y/N | true |
| Fireplace Y/N | false |
| Laundry Features | Common Area,Washer Hookup,Electric Dryer Hookup |
| Entry Level | 1 |
Exterior Features
| Fencing | Vinyl |
|---|---|
| Parking Features | One Space |
| Lot Features | 0-1 Unit/Acre |
| Water Source | Public |
| Total Parking | 2 |
| Lot Size Area | 3315 |
| Number of Buildings | 3 |
| Spa | false |
| Building Area Total | 1987 |
| Lot Size Acres | 0.0761 |
| Road Surface Type | Alley Paved,Paved |
| Private Pool | false |
| Lot Size Source | Assessor |
| Number of Separate Water Meters | 1 |
| Number of Separate Gas Meters | 3 |
| Number of Separate Electric Meters | 3 |
| Road Frontage Type | Alley,City Street |
Amenities
- Foreclosure
- Views
- Short Sale
- New Construction
- Adult 55+
- Lease To Own
- No HOA Fees
- Furnished
- Primary On Main
- Air Conditioning
- Seller Finance
- Green
- Fixer Upper
- Horse
- Golf
- Fireplace
- Deck
- Garage
- Basement
- Pool
Property vs Multi-Family Average in 90802
Price
Year Built
Based on information from California Regional Multiple Listing Service, Inc. as of September 17, 2026 5:14 AM UTC This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
