463 W 6th · Long Beach, CA 90802

$1,499,000

2 bd · 8.0 ba · 4,001 sqft · MultiFamily public records · 67 Days on market

Built 1923 2,534 sqft lot $375/sqft · at area comps Est $1431k · at est.

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Why this score? — see what drove the D grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +16.3/30.0
• ARV discount +5.4/15.0
• DSCR +5.1/10.0
• 1% rule +4.8/10.0
• Schools +3.7/10.0
• Livability +3.4/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 8 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

8-unit apartment building located in Downtown Long Beach. The property features a unit mix of (6) studios and (2) 1-bed/1-bath units, all with upgraded interiors. The building has been well maintained and has upgraded electrical panels. There is also a well sized basement with potential to be converted into a common area laundry room. Located on a corner lot with good visibility and access to local amenities, employment centers, and the 710 Freeway. Downtown Long Beach continues to see new development, supporting rental demand. Opportunity for stable cash flow with additional upside through rental increases.

Key facts

• Good visibility
• Upgraded interiors
• Well sized basement

Tags

• 8 UNIT APARTMENT BUILDING
• UPGRADED INTERIORS
• UPGRADED ELECTRICAL PANELS
• WELL SIZED BASEMENT
• CORNER LOT
• GOOD VISIBILITY

What this means for you Summary

Snapshot

• This is a 2×2bd/1ba + 6×1bd/1ba units multifamily listed at $1.50M.

Deal economics

• At list price, monthly cash flow is $826 ($10k/yr) — positive. Per door: $103/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $1.46M (2.3% below list).
• Recommended offer: $1.41M (6.0% below list) — sets the bar for market timing.
• Cap rate 7.0% vs local median 1.9% in Long Beach — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 67/100 on livability (#319 in CA) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, employment B+; Watch: health & safety C-, crime F, cost of living F.
• Long Beach Unified (urban): math 34% / reading 50% proficiency, ranked #216 of 517 in CA (top 42%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Edison Elementary (math 21%, 426 students, 71% FRL); Washington Middle (math 21% / reading 34%, grade F, #239 of 498 statewide, top 48%, 941 students, 77% FRL); Cabrillo High (math 22% / reading 52%, grade F, #578 of 1,170 statewide, top 51%, 1,786 students, 66% FRL).
• Market conditions: Rents rising (+1.1%/yr); 205 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 19,697 units permitted in Los Angeles County in 2024 (9,426 in 5+ unit buildings).
• At $14,639/mo this rent would consume 236% of the median local household income ($75k/yr) (locally 4689% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $10k of loan paydown is wiped out by about $45k of value loss. Plan a longer hold.
• Los Angeles County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 67 days — a 6% lower offer ($1.41M) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 6y ago; this cycle's ask has dropped $100k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1923 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $1,409,060 (6.0% below list)

Questions for the listing agent

1. It's been on market 67 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1923 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
8. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
9. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
10. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
11. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.98% ✗
• Cap rate: 6.95%
• Cash-on-cash: 2.36%
• DSCR: 1.11
• GRM: 8.5

CMA / ARV

• ARV (median comp): $1,431,068
• List price: $1,499,000
• Delta: 4.75%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 1.14% rent growth · sell at horizon

5-year hold

• IRR: -14.7%
• Equity multiple: 0.48×
• Total profit: $-216,733
• Equity at exit: $223,506

10-year hold

• IRR: -9.5%
• Equity multiple: 0.46×
• Total profit: $-225,462
• Equity at exit: $129,606

Cash invested: $419,720 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 18 Strongly Tenant-Friendly
• State California: 18 Strongly Tenant-Friendly · D+13
• County: — inherits STATE
• City: — inherits STATE

AB1482 statewide rent cap (10% + CPI). Cities (SF/LA/Berkeley) layer stricter rules. Just-cause statewide.

Methodology + full state rankings →

ZIP-level market 90802

• Home prices YoY: -26.1%
• Rents YoY: 1.1%
• Active inventory: 205
• Price-to-rent: 60.4×

Monthly cashflow live

• Estimated rent: $14,639 high
• Mortgage (P&I): −$7,861
• Tax from tax record: −$2,253 /mo · $27,039/yr
• Insurance: −$625
• HOA: −$0
• Vacancy / Maint / Mgmt: −$3,074
• Net cashflow: $826

Break-even live

Break-even rent $13,593

Max offer price $1,499,000

Occupancy floor 89%

Sensitivity live

Price	-10% $1,675	-5% $1,250	+0% $826	+5% $402	+10% $-22
Rent	-10% $-330	-5% $248	+0% $826	+5% $1,404	+10% $1,983
Rate	-1.0pp $1,581	-0.5pp $1,207	base $826	+0.5pp $438	+1.0pp $43

8-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$4,138
▸ 6× units	1	1	$10,500
Total (8 units)			$14,639

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $374,750
• Closing costs: $44,970
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
500 W Broadway Long Beach, CA	3.0	1.0–3.0	1677	$3,169	$1.89	1d	13	0.34mi
1487 Henderson Ave Long Beach, CA	2.0	1.0	3520	$2,395	$0.68	45d	1	0.82mi

Listing history 33 events

1. 2026-06-21
   days on market $1,499,000 Active 67 DOM
2. 2026-06-18
   days on market $1,499,000 Active 64 DOM
3. 2026-06-17
   days on market $1,499,000 Active 63 DOM
4. 2026-06-16
   days on market $1,499,000 Active 62 DOM
5. 2026-06-15
   days on market $1,499,000 Active 61 DOM
6. 2026-06-13
   days on market $1,499,000 Active 59 DOM
7. 2026-06-13
   days on market $1,499,000 Active 58 DOM
8. 2026-06-10
   price $1,499,000 Active 55 DOM
9. 2026-06-09
   days on market $1,560,000 Active 55 DOM
10. 2026-06-08
    days on market $1,560,000 Active 54 DOM
11. 2026-06-07
    days on market $1,560,000 Active 53 DOM
12. 2026-06-04
    days on market $1,560,000 Active 50 DOM
13. 2026-06-03
    days on market $1,560,000 Active 49 DOM
14. 2026-06-02
    days on market $1,560,000 Active 48 DOM
15. 2026-06-01
    days on market $1,560,000 Active 47 DOM
16. 2026-05-31
    days on market $1,560,000 Active 46 DOM
17. 2026-05-15
    price $1,560,000 615-char remark

    Show marketing remark (615 chars)

    8-unit apartment building located in Downtown Long Beach. The property features a unit mix of (6) studios and (2) 1-bed/1-bath units, all with upgraded interiors. The building has been well maintained and has upgraded electrical panels. There is also a well sized basement with potential to be converted into a common area laundry room. Located on a corner lot with good visibility and access to local amenities, employment centers, and the 710 Freeway. Downtown Long Beach continues to see new development, supporting rental demand. Opportunity for stable cash flow with additional upside through rental increases.

18. 2026-05-01
    price $1,589,000 615-char remark

    Show marketing remark (615 chars)

    8-unit apartment building located in Downtown Long Beach. The property features a unit mix of (6) studios and (2) 1-bed/1-bath units, all with upgraded interiors. The building has been well maintained and has upgraded electrical panels. There is also a well sized basement with potential to be converted into a common area laundry room. Located on a corner lot with good visibility and access to local amenities, employment centers, and the 710 Freeway. Downtown Long Beach continues to see new development, supporting rental demand. Opportunity for stable cash flow with additional upside through rental increases.

19. 2026-04-15
    listed $1,599,000 Active 615-char remark

    Show marketing remark (615 chars)

    8-unit apartment building located in Downtown Long Beach. The property features a unit mix of (6) studios and (2) 1-bed/1-bath units, all with upgraded interiors. The building has been well maintained and has upgraded electrical panels. There is also a well sized basement with potential to be converted into a common area laundry room. Located on a corner lot with good visibility and access to local amenities, employment centers, and the 710 Freeway. Downtown Long Beach continues to see new development, supporting rental demand. Opportunity for stable cash flow with additional upside through rental increases.

20. 2025-11-14
    historical
21. 2025-09-18
    price $1,560,000
22. 2025-08-21
    price $1,630,000
23. 2025-07-22
    listed $1,650,000 Active
24. 2023-05-31
    historical
25. 2021-12-21
    soldstatus $1,900,000
26. 2020-11-02
    historical
27. 2020-09-14
    listed $1,900,000 Active
28. 2020-06-30
    historical
29. 2020-03-11
    listed $1,900,000 Active
30. 2020-03-11
    historical
31. 2020-03-10
    listed $1,900,000 Active
32. 2019-09-10
    soldstatus $1,375,000
33. 1983-06-29
    soldstatus $127,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast CA · Resets to sale price

• Current annual tax: $27,039 · $2,253/mo
• Projected year-2 tax: $27,039 · $2,253/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥87°F today · 23 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 6/10 Major 9 unhealthy d/yr today · 10 by 30 yrs out

Taxation est. · year 1

• Rental income: $175,668
• − Mortgage interest: −$83,967
• − Property taxes: −$27,039
• − Insurance: −$7,495
• − Repairs & maintenance: −$14,053
• − Management: −$14,053
• − Depreciation: −$43,607
• Taxable loss: −$14,547
• Est. tax savings @ 24.0%: +$3,491
• After-tax cash flow: $13,404/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Long Beach Unified
• NCES district ID: 0622500
• Math proficiency: 34% ▼ -11.00%
• Reading proficiency: 50% ▼ -4.00%
• Median HH income: $56,092
• Composite: 36.67/100
• National rank: #4607
• State rank: #216 of 517 in CA

Livability — Long Beach

• Score: 67/100
• State rank: #319
• US rank: #10758

Category grades

Amenities A+ Commute A+ Cost of living F Crime F Employment B+ Housing C+ Health & safety C- User ratings D-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Long Beach, CA
• County: Los Angeles County · 9,444,647 people
• City population: 466,088
• Metro: Los Angeles-Long Beach-Anaheim, CA
• Population (ZIP): 40,434
• Household income: $74,510
• Rent vs Own: 79.0% rent · 21.0% own
• Severe rent burden: 4689.0

Population outlook (Los Angeles County) Hauer SSP2

• Today (2025): 10,940,515 people
• By 2030: 11,256,481 · +2.9%
• By 2040: 11,729,929 · +7.2%
• By 2050: 11,948,407 · +9.2%
• By 2075: 11,818,114 · +8.0%
• By 2100: 10,842,928 · -0.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Highly diverse neighborhood (Simpson 0.72)
• Race & ethnicity: Hispanic / Latino 37% White 32% Black 15% Two or more races 14% Asian 8% Native American 1%
• Hispanic origin (detail): Mexican 27% Puerto Rican 1%
• Common ancestry: Romanian 2% Lithuanian 2% Estonian 2%
• Foreign-born: 20% · Canada, China, South Korea
• Languages at home: 64% English-only · Spanish 27% Other Indo-European 3% Tagalog/Filipino 2%

Political lean MEDSL · Los Angeles

• 2024 margin: Solid D (+32.9) · D 64.8% · R 31.9% · Other 3.3%
• 2008→2024 swing: -7.4pp toward R · 2008: 40.4pp · 2024: 32.9pp
• All cycles: 2024: D+32.9 2020: D+44.2 2016: D+48.0 2012: D+40.0 2008: D+40.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -134.40%
• Current HPI: 380.7305
• Rent YoY: ▲ 1.14%
• Metro: Los Angeles-Long Beach-Anaheim, CA
• State GDP YoY: ▲ 3.21%
• F500 in state: 116

Industry mix (Fortune 500 HQ in CA)

Industry	F500 HQs	Revenue
▸Technology	27	$1,492B
▸Financial Services	3	$174B
▸Retail	3	$44B
▸Insurance	3	$26B
▸Media / Entertainment	2	$115B
▸Pharmaceuticals / Biotech	2	$62B

Price history

+1128.3% since first listed

17 events — show timeline

• 2026-05-15 Price Changed $1,560,000 CRMLS
• 2026-05-01 Price Changed $1,589,000 CRMLS
• 2026-04-15 Listed $1,599,000 CRMLS
• 2025-11-14 Listing Removed — CRMLS
• 2025-09-18 Price Changed $1,560,000 CRMLS
• 2025-08-21 Price Changed $1,630,000 CRMLS
• 2025-07-22 Listed $1,650,000 CRMLS
• 2023-05-31 Rental Removed — RENT.
• 2021-12-21 Sold (Public Records) $1,900,000 Public Records
• 2020-11-02 Listing Removed — CRMLS
• 2020-09-14 Listed $1,900,000 CRMLS
• 2020-06-30 Listing Removed — CRMLS
• 2020-03-11 Listing Removed — CRMLS
• 2020-03-11 Listed $1,900,000 CRMLS
• 2020-03-10 Listed $1,900,000 CRMLS
• 2019-09-10 Sold (Public Records) $1,375,000 Public Records
• 1983-06-29 Sold (Public Records) $127,000 Public Records

Property tax history

+10.4%/yr

Latest (2025): $27,039 · +4.5% YoY. Source: county tax records.