1045 E New York St

1045–1047 E New York Street presents a unique 4-unit investment opportunity in North East Long Beach, consisting of two separate parcels: a front single-family residence and a rear triplex. While the properties are being sold together, each has separate utilities and water meters and can be financed or sold independently, offering flexibility for both investors and owner-users. This layout creates potential for a buyer to live in the single-family home while holding or later selling the triplex as a separate investment.
The unit mix includes a 2-bedroom, 1-bath single-family home with a 1-car garage and two tandem driveway spaces, and a rear triplex comprised of one 2-bedroom, 1-bath unit and two 1-bedroom, 1-bath units. The combined building area totals 1,811 square feet across a total lot size of 3,747 square feet, with 649 square feet allocated to the front home and 1,162 square feet to the rear triplex. The triplex is accessed from the alley and utilizes street parking.
The property currently operates at a 4.72% CAP rate, with approximately 40% rental upside and a projected market CAP rate of 7.57%. Since the triplex sits on a separate parcel, it is not subject to the City of Long Beach’s inspection requirements for properties with four or more units. Additionally, because the property is located in a traffic-impacted area, the front house will require a standard garage inspection and the rear triplex will require a separate garage exemption certificate.
Centrally located near Long Beach Polytechnic High School and Theodore Roosevelt Elementary, the property benefits from strong local demand, convenient freeway access, and close proximity to everyday amenities. Whether you’re a first-time investor or looking to expand your Long Beach portfolio, 1045–1047 E New York Street offers both stability and long-term upside in a growing rental market.