$2,875,000 Price Analysis   ♡   Long Beach, CA 90803 12 bed 10 bath 6,078 SqFt ($473/SqFt) 7,235SqFt lot. Built 1973 Listed 2024-08-07, Taxes $27,490 | Ⓧ USDA Ineligible due to price & location near Long Beach |
This property shines with a substantial value-add for growth!
There is room to flourish with this investment and some of the ways include completion of interior renovations (4 of 8 nar complete) with a realistic upside. This apartment building has plenty of growth opportunities. Temple Avenue in Long Beach, California. This 8-unit apartment building is in the highly desirable rental area of Bluff Heights Historic District! Built in 1973, this is a SWEET location where the community meets small businesses in a neighborhood setting.
Just steps away from restaurants, cafes and unique s mall businesses. Only blocks to the beach with expansive walking and bike paths. The area is a dream! Close enough to Downtown LB festivities and 2nd Street, but far enough to have a sense of neighbors and peace with a work-life balance feeling. It is a rare opportunity to acquire an asset with an attractive current cap rate estimated at 5.6 and a GRM of 13.5.
Presented by Tamas Batyi at
COMPASS.
Property MLS #SB24162123 from CRMLS
Appliances YN: Yes
Laundry Features: Community
Heating: Yes
Lot Size Acres: 0.1660927
Lot Size Source: Assessor
Lot Size Square Feet: 7235
Parking Features: Parking YN: Yes, Parking Features: Assigned, Garage
Parking Total: 12
Bedrooms in Unit-1: 2
Bedrooms in Unit-2: 2
Bedrooms in Unit-3: 2
Bedrooms in Unit-4: 2
Bedrooms in Unit-5: 1
Bedrooms in Unit-6: 1
Bedrooms in Unit-7: 1
Bedrooms in Unit-8: 1
Total Bathrooms in Unit-1: 2
Total Bathrooms in Unit-2: 2
Total Bathrooms in Unit-3: 1
Total Bathrooms in Unit-4: 1
Total Bathrooms in Unit-5: 1
Total Bathrooms in Unit-6: 1
Total Bathrooms in Unit-7: 1
Total Bathrooms in Unit-8: 1
Unit-1 Garage Spaces: 1
Unit-2 Garage Spaces: 1
Unit-3 Garage Spaces: 1
Unit-4 Garage Spaces: 1
Vacancy Allowance: 4262
County: Los Angeles
Cap Rate: 5.60
Source Property Type: Residential Income
Insurance Expense: 5280.00
Area: 2 - Belmont Heights, Alamitos Heights
Source Neighborhood: Bluff Park (BLF)
New Taxes Expense: 33900.00
Number of Separate Electric Meters: 9
Number of Separate Gas Meters: 9
Number of Separate Water Meters: 1
Parcel Number: 7263028039
Pest Control Expense: 636.00
Subdivision: Bluff Park (BLF)
Zoning: LBR2A
Source System Name: C2C
| Year | Assessments Building + Land Total | Tax |
|---|---|---|
| 2022 | $867,000 + $1,315,800 $2,182,800 | $27,490 |
| 2021 | $191,595 + $47,533 $239,128 | $4,293 |
| 2020 | $189,631 + $47,046 $236,677 | $4,280 |
| 2019 | $185,913 + $46,124 $232,037 | $4,232 |
| 2018 | $182,268 + $45,220 $227,488 | $4,015 |
| 2017 | $178,695 + $44,334 $223,029 | $3,971 |
| 2016 | $175,192 + $43,465 $218,657 | $3,677 |
| 2015 | $172,561 + $42,813 $215,374 | $3,557 |
| 2014 | $169,181 + $41,975 $211,156 | $3,580 |
| 2013 | $168,417 + $41,786 $210,203 | $3,489 |
| 2012 | $165,115 + $40,967 $206,082 | $3,522 |
| 2010 | $161,878 + $40,164 $202,042 | $3,362 |
| 2009 | $161,051 + $39,959 $201,010 | $3,278 |
| 2009 | $160,669 + $39,864 $200,533 | $3,278 |
| 2008 | $157,894 + $39,176 $197,070 | $3,065 |
| 2007 | $154,799 + $38,408 $193,207 | $2,931 |
$0
CRMLS
Listed 2024-08-07
$2,875,000
CRMLS
Price Changed 2024-07-30
$2,950,000
CRMLS
Listed 2024-07-09
$3,085,000
CRMLS
Listing removed 2024-06-20
$0
CRMLS
Price Changed 2024-05-29
$3,095,000
CRMLS
Listed 2024-05-03
$3,295,000
CRMLS
Year Built: 1973
Building Features: 1
Common Walls: 1 Common Wall
Entry Level: 1
Entry Location: 1
Property Age: 51
Property Attached: Yes
Roof: Shingle
Levels or Stories: Two
Building Total Stories: 2
Structure Type: Apartment
Year Built Source: Assessor
Sewer: Sewer: Public Sewer, Water Sewer Expense: 4716.00
Cable Connected
Electricity Connected
Natural Gas Connected
Phone Connected
Sewer Connected
Water Connected
Water Source: Public
Map directions Map directions Map directions Map directions
 |  |  |  |  |
 |  |  |  |  |
 |  |  |  |  |
 |  |  | ||
The property loan eligibility may be subject to additional requirements beyond geographical location including but not limited to the condition of the property. Speak with a real estate professional to find out more about the eligibility of a specific property.