1403 Lemon Ave
Description
• One detached 4-bedroom, 2-bath front house, offering the feel and privacy of a single-family residence. The unit mix includes:
• One detached 4-bedroom, 2-bath front house, offering the feel and privacy of a single-family residence • One 4-bedroom, 1-bath unit, perfect for larger households or shared living scenarios. • One 4-bedroom, 1-bath unit, perfect for larger households or shared living scenarios • Three 2-bedroom, 1-bath units, ideal for small families, professionals, or long-term tenants. This unit diversity not only maximizes rental appeal across a broad demographic but also minimizes vacancy risk, ensuring a reliable income stream for the savvy investor. Strong Income with Upside Potential
Currently operating at full occupancy, 1403 Lemon Ave delivers an impressive 8.76% cap rate—a rare find in today’s Southern California market. With below-market rents in place and room for value-add improvements, there’s still significant upside potential for rental increases over time, particularly as the Long Beach rental market continues to strengthen. For investors seeking a stabilized asset with future growth potential, this property offers both: strong existing cash flow and long-term opportunity for rent optimization and appreciation. Parking & Storage: Valuable Add-Ons
The property includes four garages and two uncovered driveway parking spaces, a premium amenity in this densely populated urban neighborhood. These spaces could potentially generate additional income if rented separately or bundled with leases—another layer of return on your investment. Garages may also appeal to owner-users, short-term rental hosts, or tenants needing extra storage. Prime Location Near Downtown Long Beach
- Listed by Milla Pariser • DRE #02006267 • Brokerage DRE #02078273 • Beverly and Company • 818-271-1233
Property Details for 1403 Lemon Avenue
Property Details for 1403 Lemon Avenue
| Status | Active |
|---|---|
| MLS # | SR25121571 |
| Days on Market | 224 |
| Taxes | - |
| HOA Fees | - |
| Condo/Co-op Fees | - |
| Compass Type | Multi Family |
| MLS Type | Residential Income / Single Family Residence |
| Year Built | 1924 |
| Lot Size | 0.15 AC / 6,603 SF |
| County | Los Angeles County |
Location
Building Information for 1403 Lemon Avenue
Payment Calculator
$6,713 per month
30 year fixed, 6.15% Interest
$6,336
$377
$0
Property Information for 1403 Lemon Avenue
- Gross Income: $134,160
- Gross Scheduled Income: $134,268
- Vacancy Allowance: 2657
- Vacancy Allowance Rate: 3
- Gross Operating Income: $134,268
- Net Operating Income: $88,742
- Gross Multiplier: 11.0
- Cap Rate: 8.76
- Operating Expense: $45,000
- Operating Expense Percent: 3.00%
- Gardener Expense: $1,200
- Electric Expense: $43
- Insurance Expense: $1,350
- Maintenance Expense: $2,500
- Professional Management Expense: $0
- Trash Expense: $0
- Water Sewer Expense: $4,421
- Total Expenses: $45,000
- Tax Tract Number: 1761
- Tax Census Tract: 5752.01
- CFD/Mello-Roos Fee: $987
- Tax Lot: 36
- Community Features: Curbs, Sidewalks, Storm Drains, Street Lights
- Community: Poly High (PH)
- Laundry: No
- Laundry Features: None
- Entry Location: 1
- Pool Features: None
- Pool Description: None
- Pool: N/K
- Pool Heat: N/K
- Lot Features: Front Yard, Landscaped, Lot 6500-9999, Near Public Transit
- Number Of Units: 5
- Land Lease: No
- Land Lease Type: Fee
- Water: Public
- Sewer: Public Sewer
- Water Source: Public
- Garage Spaces: 4
- Parking Garage Spaces: 4
- Carport Spaces: 0
- Builders Tract Name: Poly High
- Builders Tract Code: Poly High (PH)
- Residential Styles: Res Income 2-4 Units
- Unit Type Units Total: 1
- Unit Type Beds Total: 2
- Unit Type Baths Total: 1
- Unit Type Furnished: Unfurnished
- Unit Type Garage Spaces: 0
- Unit Type Actual Rent: $2,200
- Unit Type Total Rent: $2,200
- Unit Type Pro Forma: 2500
- Unit Type Type: 1
- Unit Type Units Total: 2
- Unit Type Beds Total: 4
- Unit Type Baths Total: 1
- Unit Type Furnished: Unfurnished
- Unit Type Garage Spaces: 0
- Unit Type Actual Rent: $2,657
- Unit Type Total Rent: $2,657
- Unit Type Pro Forma: 3200
- Unit Type Type: 2
- Unit Type Units Total: 3
- Unit Type Beds Total: 2
- Unit Type Baths Total: 1
- Unit Type Furnished: Unfurnished
- Unit Type Garage Spaces: 0
- Unit Type Actual Rent: $2,200
- Unit Type Total Rent: $2,200
- Unit Type Pro Forma: 3500
- Unit Type Type: 3
- Unit Type Units Total: 4
- Unit Type Beds Total: 2
- Unit Type Baths Total: 1
- Unit Type Furnished: Unfurnished
- Unit Type Garage Spaces: 0
- Unit Type Actual Rent: $1,750
- Unit Type Total Rent: $1,750
- Unit Type Type: 4
- Unit Type Units Total: 1403
- Unit Type Beds Total: 4
- Unit Type Baths Total: 2
- Unit Type Furnished: Unfurnished
- Unit Type Garage Spaces: 0
- Unit Type Actual Rent: $3,009
- Unit Type Total Rent: $3,009
- Unit Type Type: 5
- Rent Controlled: No
- Number Of Buildings: 2
- Number Of Separate Electric Meters: 6
- Number Of Separate Gas Meters: 5
- Number Of Separate Water Meters: 1
Property History for 1403 Lemon Avenue
| Date | Event & Source | Price | Appreciation |
|---|---|---|---|
| Dec 8, 2025 | Price Change CLAW #SR25121571MR | $1,300,000 | — |
| Dec 8, 2025 | Price Change CRMLS #SR25121571 | $1,300,000 | — |
| Dec 7, 2025 | Price Change SDMLS #SR25121571 | $1,300,000 | — |
| Nov 20, 2025 | Price Change CLAW #SR25121571MR | $1,195,000 | — |
| Nov 20, 2025 | Price Change CRMLS #SR25121571 | $1,195,000 | — |
| Nov 19, 2025 | Price Change SDMLS #SR25121571 | $1,195,000 | — |
| Sep 5, 2025 | Price Change CLAW #SR25121571MR | $1,299,000 | — |
| Sep 5, 2025 | Price Change CRMLS #SR25121571 | $1,299,000 | — |
| Sep 4, 2025 | Price Change SDMLS #SR25121571 | $1,299,000 | — |
| Jul 15, 2025 | Price Change CLAW #SR25121571MR | $1,450,000 | — |
| Jul 15, 2025 | Price Change CRMLS #SR25121571 | $1,450,000 | — |
| Jul 14, 2025 | Price Change SDMLS #SR25121571 | $1,450,000 | — |
| Jun 10, 2025 | Listed (Active) CLAW #SR25121571MR | $1,480,000 | — |
| Jun 10, 2025 | Listed (Active) CRMLS #SR25121571 | $1,480,000 | — |
| Jun 10, 2025 | Listed (Active) SDMLS #SR25121571 | $1,480,000 | — |
| May 1, 2018 | Withdrawn / Cancelled SDMLS #RS18037391 | — | |
| May 1, 2018 | Withdrawn / Cancelled CRMLS #RS18037391 | $1,125,000 | — |
| May 1, 2018 | Withdrawn / Cancelled CLAW #RS18037391MR | — | |
| Mar 13, 2018 | Price Change CRMLS #RS18037391 | $1,150,000 | — |
| Feb 16, 2018 | Listed (Active) CLAW #RS18037391MR | $1,250,000 | — |
| Feb 16, 2018 | Listed (Active) SDMLS #RS18037391 | $1,250,000 | — |
| Feb 16, 2018 | Listed (Active) CRMLS #RS18037391 | $1,250,000 | — |
| May 22, 2001 | Sold (Public Record) Public Record #72157132 | $181,500 | — |
| Date | Event & Source | Price |
|---|---|---|
| 12/08/2025 | Price Change CLAW #SR25121571MR | $1,300,000 |
| 12/08/2025 | Price Change CRMLS #SR25121571 | $1,300,000 |
| 12/07/2025 | Price Change SDMLS #SR25121571 | $1,300,000 |
| 11/20/2025 | Price Change CLAW #SR25121571MR | $1,195,000 |
| 11/20/2025 | Price Change CRMLS #SR25121571 | $1,195,000 |
| 11/19/2025 | Price Change SDMLS #SR25121571 | $1,195,000 |
| 09/05/2025 | Price Change CLAW #SR25121571MR | $1,299,000 |
| 09/05/2025 | Price Change CRMLS #SR25121571 | $1,299,000 |
| 09/04/2025 | Price Change SDMLS #SR25121571 | $1,299,000 |
| 07/15/2025 | Price Change CLAW #SR25121571MR | $1,450,000 |
| 07/15/2025 | Price Change CRMLS #SR25121571 | $1,450,000 |
| 07/14/2025 | Price Change SDMLS #SR25121571 | $1,450,000 |
| 06/10/2025 | Listed (Active) CLAW #SR25121571MR | $1,480,000 |
| 06/10/2025 | Listed (Active) CRMLS #SR25121571 | $1,480,000 |
| 06/10/2025 | Listed (Active) SDMLS #SR25121571 | $1,480,000 |
| 05/01/2018 | Withdrawn / Cancelled SDMLS #RS18037391 | — |
| 05/01/2018 | Withdrawn / Cancelled CRMLS #RS18037391 | $1,125,000 |
| 05/01/2018 | Withdrawn / Cancelled CLAW #RS18037391MR | — |
| 03/13/2018 | Price Change CRMLS #RS18037391 | $1,150,000 |
| 02/16/2018 | Listed (Active) CLAW #RS18037391MR | $1,250,000 |
| 02/16/2018 | Listed (Active) SDMLS #RS18037391 | $1,250,000 |
| 02/16/2018 | Listed (Active) CRMLS #RS18037391 | $1,250,000 |
| 05/22/2001 | Sold (Public Record) Public Record #72157132 | $181,500 |
For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 1403 Lemon Avenue
Schools near 1403 Lemon Avenue
Rating | School | Type | Grades | Distance |
|---|---|---|---|---|
| Public - | K to 5 | |||
| Public - | 6 to 8 | |||
| Public - | 9 to 12 | |||
| Charter - | 9 to 12 |
Rating | School | Distance |
|---|---|---|
Whittier Elementary School PublicK to 5 | ||
Franklin Classical Middle School Public6 to 8 | ||
Polytechnic High School Public9 to 12 | ||
Clear Passage Educational Center Charter9 to 12 |
School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.
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Listing Courtesy of Beverly and Company, Milla Pariser, DRE #02006267
Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.