Fully leased Bixby Knolls fourplex with approximately 16% rental upside and potential to add up to four detached ADUs—a path to doubling the unit count. Situated on an approximately 9,498 SF lot, the property features four 2-bedroom, 1-bath units totaling approximately 3,256 SF, four detached garages, and seven surface parking spaces. All units were renovated in 2019 with mini-split heating and cooling and upgraded appliances.
Current rents average approximately $2,457 per unit, with projected rents of $2,850 following light interior updates on turnover. Annual scheduled income totals approximately $127,718, including ancillary income, with projected income of $151,370 through rent growth and full garage and parking rentals. This supports a projected 7.27% cap rate at the $1,450,000 asking price, excluding any future ADU income.
The rear garage footprint offers potential for up to four detached ADUs while retaining surface parking, subject to buyer verification and City approval. Separately metered gas and electricity, on-site laundry, and proximity to Atlantic Avenue dining, shopping, and the 405/710 freeways round out the offering.
For sale
Listed by: eXp Realty of Greater L.A • Andrew McAllister • Contact: 925-683-9203
$1,450,000
404 E Freeland St, Long Beach, CA 90807
8beds
4baths
3,256sqft
Quadruplex
Built in 1945
-- sqft lot
$1,437,500 Zestimate®
$445/sqft
$-- HOA
What's special
- 3 days
- 302
- 34
Likely to sell faster than
Zillow last checked:
Listing updated:
Listed by:
Andrew McAllister DRE #01946829 925-683-9203,
eXp Realty of Greater L.A
Source: CRMLS,MLS#: RS26207276
Originating MLS: California Regional MLS
Originating MLS: California Regional MLSFacts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 8
- Bathrooms: 4
Heating
- Wall Furnace
Appliances
- Laundry: Common Area
Features
- Has fireplace: No
- Fireplace features: None
- Common walls with other units/homes: No Common Walls
Interior area
- Total structure area: 3,256
- Total interior livable area: 3,256 sqft
Property
Parking
- Total spaces: 11
- Parking features: Assigned, Door-Single, Driveway, Garage, On Site, Paved
- Garage spaces: 4
- Uncovered spaces: 7
Features
- Levels: Two
- Stories: 2
- Entry location: Ground
- Pool features: None
- Spa features: None
Lot
- Size: 9,503 Square Feet
- Features: 16-20 Units/Acre, Front Yard, Landscaped, Near Public Transit, Street Level
Details
- Parcel number: 7134017007
- Special conditions: Standard
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Quadruplex
Materials
- Roof: Shingle
Condition
- New construction: No
- Year built: 1945
Utilities & green energy
- Sewer: Public Sewer, Sewer Assessment(s)
- Water: Public
- Utilities for property: Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
Community & HOA
Community
- Features: Curbs, Storm Drain(s), Street Lights, Sidewalks, Urban
- Subdivision: Bixby Knolls (Bk)
Location
- Region: Long Beach
Financial & listing details
- Price per square foot: $445/sqft
- Tax assessed value: $1,366,506
- Date on market: 9/22/2026
- Cumulative days on market: 3 days
- Listing terms: Cash,Cash to New Loan,Conventional
- Tenant pays: Electricity, Gas, Parking Fee
Estimated market value
$1,437,500
$1.37M - $1.51M
$3,366/mo
Price history
| Date | Event | Price |
|---|---|---|
| 9/22/2026 | Listed for sale | $1,450,000+18.4%$445/sqft |
Source:  CRMLS #RS26207276 Report a problem | ||
| 11/13/2019 | Sold | $1,225,000-1.9%$376/sqft |
Source:  CRMLS #SB19215024 Report a problem | ||
| 10/8/2019 | Pending sale | $1,249,000$384/sqft |
Source: Lyon Stahl Investment Real Estate, Inc. #SB19215024 Report a problem | ||
| 9/16/2019 | Listed for sale | $1,249,000$384/sqft |
Source: Lyon Stahl Investment Real Estate, Inc. #SB19215024 Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2026 | -- | $1,366,506 +2% |
| 2025 | $18,037 +4.7% | $1,339,713 +2% |
| 2024 | $17,235 +1.7% | $1,313,445 +2% |
| 2023 | $16,946 +6.5% | $1,287,692 +2% |
| 2022 | $15,910 +2% | $1,262,444 +2% |
| 2021 | $15,594 +0.3% | $1,237,691 +1% |
| 2020 | $15,554 | $1,225,000 +198.3% |
| 2019 | $15,554 +179.7% | $410,706 +2% |
| 2018 | $5,561 | $402,654 +2% |
| 2017 | $5,561 +1.1% | $394,760 +2% |
| 2016 | $5,503 +7.6% | $387,021 +1.5% |
| 2015 | $5,112 +4.2% | $381,209 +2% |
| 2014 | $4,905 | $373,743 +2.5% |
| 2012 | -- | $364,761 +2% |
| 2011 | -- | $357,609 +0.8% |
| 2010 | -- | $354,938 -0.2% |
| 2009 | -- | $355,782 +2% |
| 2008 | -- | $348,807 +2% |
| 2007 | -- | $341,968 +2% |
| 2006 | -- | $335,264 |
| 2005 | -- | $335,264 +4% |
| 2004 | -- | $322,247 +1.9% |
| 2003 | -- | $316,342 +5.4% |
| 2002 | -- | $300,000 +19% |
| 2000 | -- | $252,000 |
Find assessor info on the county website
Monthly payment
Est. payment
Payment breakdown
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Neighborhood: Bixby Area
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