The 6-Unit That Disappeared in 4 Days: Inside the California Heights Multi-Unit Market (July 2026)
Most people researching Long Beach multi-units don't put California Heights at the top of their list. It's historic. The homes are old. The streets are quiet.
And then a 6-unit lists on a Sunday and goes under contract by Wednesday.
That's what just happened at 953 E Carson Street — and it tells you almost everything you need to know about where this submarket is headed.
This is a full look at what's active, what just went under contract, and what's closed in California Heights right now.
What's on the Market Right Now
3581 Cherry Ave — $950,000 | Duplex (2/1 + 2/1)
A 1945-built duplex in the heart of California Heights, 1,499 sqft on a 5,503 sqft lot. One unit is occupied at $1,688/month — well below the $2,900 pro forma market rent. The second unit is vacant.
The seller notes the occupied tenant has indicated a move-out at or near the end of July 2026. If that holds, a buyer could potentially have both units vacant at close, opening the door to owner-occupancy or a full market-rate reset on both sides.
No rent control. Two-car garage. Gross scheduled income of $20,256/year on the current rent roll, with a combined pro forma of $5,400/month once both units are at market.
This is a value-add play. The below-market rent on the occupied unit is a known drag, but if you're buying for cash flow upside — and you understand how to navigate tenants during a sale — the numbers post-turnover are compelling.
List price: $950,000 | Price per sqft: $633.76
1540 E Wardlow Rd — $950,000 | Mixed-Use (SFR + 3 Commercial Spaces)
This is the strangest listing in the batch — in a good way.
A 1956 Spanish-style building at the corner of Wardlow and Walnut that combines a fully renovated 2-bed/2-bath residence with three commercial spaces: a small retail front (153 sqft, currently a Hawaiian shaved ice shop), a larger interior suite (424 sqft, newly built-in counter with double sinks), and a loft space (458 sqft, currently a brow salon) with a separate entrance off Walnut.
The house has a new 200-amp panel, 50-amp generator hookup, 240V W/D circuit, Cat6 ethernet throughout, new plumbing on the commercial side, and a recently re-coated roof. It is, by every measure, move-in ready.
The residential component carries a pro forma of $3,250/month. The commercial spaces are generating income now, though the listing doesn't specify current rents. Worth noting: this property is subject to Long Beach's rent stabilization protections on the residential side — buyers should review applicable rules before underwriting.
This is a genuinely rare configuration. You won't find another property in California Heights that lets you live in a turnkey Spanish home while three commercial tenants help pay your mortgage. Originally listed at $995,000; now at $950,000.
List price: $950,000 | Price per sqft: $601.27
3711 Lemon Ave — $1,600,000 | Triplex (3/2 + 1/1 + 3/2)
Three standalone residences on nearly 10,000 square feet. That's the headline. No shared walls — each unit is genuinely separate, which is increasingly rare and increasingly valuable in a market where tenant privacy commands rent premiums.
The primary front house is 1,886 sqft with original hardwood floors, a fireplace, and a den. The carriage house above the three-car garage is a 3/2 with updated kitchen and granite counters. The garden cottage is a 1/1 with vaulted ceilings and a private yard.
Current rents: $3,203 + $1,158 + $2,055 = $6,416/month combined. Pro forma: $4,600 + $2,100 + $3,700 = $10,400/month. That's a 62% gap between what's being collected now and what market supports — which is exactly why this property is interesting.
Gross schedule income: $76,992/year. NOI: $55,130/year after $21,862 in annual expenses.
This was listed at $1,800,000 in March. It dropped to $1,600,000 on June 29th — a $200,000 reduction. The seller is motivated. No rent control. For a buyer willing to work through the rent-roll transition, this is a rare chance to acquire a standalone-unit triplex in a historic district at a price that has already been corrected once.
List price: $1,600,000 | Price per sqft: $490.95
What Just Went Under Contract
953 E Carson St — $1,605,000 | 6-Unit Apartment Building
Listed June 29th. Under contract July 1st.
Four days.
This is the data point that explains the broader California Heights multi-unit market better than any cap rate or price-per-unit metric. A six-unit building in Long Beach's Bixby Knolls/California Heights corridor — priced at $1,605,000 with a 5.28% cap rate — was absorbed almost immediately. No concessions listed. The listing agent is from Marcus & Millichap.
The property is a 1948 construction with period details (hardwood floors, built-ins) and select interior upgrades. Mix: three 2-bed/1-bath units and three 1-bed/1-bath units. Four single-car garages. Community laundry.
Here's what made buyers move fast: current rents are 20% below market. The listing explicitly notes it as "meaningful upside potential." Gross scheduled income is $134,760/year on the current roll. The neighborhood median household income exceeds $137,000 — a strong indicator of tenant quality and ability to absorb market-rate rents as units turn.
Subject to rent stabilization. But even with the RSO constraints, investors clearly did the math quickly.
If you want to understand what pencils in Long Beach right now, this post breaks down the cash flow math across different down payment scenarios — the same framework applies to small multi-units.
List price: $1,605,000 | Cap rate: 5.28% | Days on market: 4
Recent Closed Sales
509 E 37th St — $995,000 | Duplex (2/1 + 2/1)
Closed June 5th at full list price. Cash buyer. No concessions.
A 1954 single-story duplex in the Los Cerritos/Bixby Knolls pocket — 1,976 sqft on a 6,767 sqft lot, each unit with its own one-car garage. Tree-lined street, quiet block, walking distance to SteelCraft, Nonna Mercato, and the 405 in five minutes.
NOI: $41,600/year. Gross scheduled income: $60,000/year on a market rent basis. Subject to rent control.
The cash sale at full list, with zero days of price reduction, tells you what serious investors think about this corridor. Nobody is waiting for a deal here.
Close price: $995,000 | Price per sqft: $503.54 | Buyer financing: Cash
3305 Brayton Ave / 1251 E 33rd St (Signal Hill) — $1,050,000 | Detached Duplex
Technically Signal Hill, but on the California Heights border and frequently included in the same comp pool. A fully renovated detached duplex — two separate structures, no common walls — with new HVAC, panel upgrades, sprinklers, tile floors, and fresh interior/exterior paint on both units.
Pro forma: $3,200 + $2,900 = $6,100/month. Vacant at close and ready for new tenants.
Listed originally at $1,250,000 in March. Reduced to $1,100,000, then closed at $1,050,000 after 83 days on market. The renovation premium got tested here — buyers acknowledged the work but still negotiated. The comp is useful for sellers thinking a full renovation automatically justifies top-of-market pricing in this submarket.
Close price: $1,050,000 | Price per sqft: $629.50 | Days on market: 83
The Thing Most People Miss About California Heights
Most investors focus on the cash flow math. A few look at the neighborhood walkability. Almost nobody talks about what actually protects values in California Heights long-term.
It's one of Long Beach's largest designated historic districts, first established by local ordinance in 1990 and expanded in 2000. The designation covers roughly 1,500 properties — predominantly Spanish Colonial Revival homes built between the 1920s and 1950s — and it comes with architectural review standards that govern new construction and major renovations.
Here's what that means for multi-unit investors: the thing most people think of as a constraint is actually a moat.
Historic districts restrict the kind of cheap infill and architectural mismatch that erodes rents in nearby neighborhoods. The California Heights design guidelines keep the streetscape intact, which keeps the neighborhood desirable, which keeps tenants willing to pay premium rents. You don't get that protection in Bixby Knolls proper, or in North Long Beach, or in most of the submarkets where the same dollar buys you more units.
That's not a widely discussed data point. But it's a structural reason why well-maintained multi-units in this pocket hold value and attract quality tenants over time.
For a broader look at what's moving across Long Beach's multi-unit and ADU market right now, the July 2026 market update covers more of the city's active inventory.
What This Market Is Saying
A 6-unit that sells in 4 days at a 5.28% cap rate. A $200K price cut on a triplex that still hasn't moved. A cash buyer who paid full list on a rent-controlled duplex with no concessions. A mixed-use corner property with a shaved ice shop and a brow salon and a renovated Spanish home all on one parcel.
California Heights doesn't give you easy cash flow right out of the box. Rents are below market on almost every active listing. But the upside potential — in a historic district, with strong household incomes, in a submarket that serious investors are clearly watching closely — is real.
The question isn't whether the neighborhood is worth investing in. The question is which of these opportunities fits your hold strategy.
If you want to talk through any of these listings, or want to know what your Long Beach multi-unit is worth in today's market, reach out directly.
Dylan Serna is an ADU and investment property specialist serving Long Beach, Orange County, and greater LA County. DRE #02217359.
