$4,650,000 Price Analysis   ♡   Long Beach, CA 90804 Unknown bed None bath 10,158 SqFt ($457/SqFt) 8,561SqFt lot. Built 1986 Listed 2024-05-04, Taxes $55,538 | Ⓧ USDA Ineligible due to price & location near Long Beach |
GREAT INVESTMENT PROPERTY!!!
Discover a gem in the Eastside submarket of Long Beach with this exceptional 1980s building. This property boasts 10 LARGE UNITS two-bedroom, condo-style apartments, each offering sizeable and luminous interiors. Highlights include vaulted ceilings in upper units and expansive balconies in all apartments, enhancing the appeal and comfort for residents. Security is prioritized with locked entrances and security cameras throughout the property. Additionally, the building features a gated garage with 15 parking spaces, presenting an opportunity to generate additional income by renting ut surplus spaces.
It features a newer roof with a lifetime guarantee and includes seller-owned laundry machines. The financial burden of utilities is eased as tenants are responsible for their own gas and electric costs, keeping operating expenses low. This investment asset is a standout in a desirable, low-vacancy area of Long Beach, offering more than 18% rental upside potential. Recent upgrades include remodeled units in 2021 and a piloties 15 parking lot enhancement. Conveniently located near freeways and public transportation, this property represents a rare chance to acquire a well-maintained, income-generating building with significant growth potential. Act now to capitalize on this excellent investment opportunity in a thriving residential neighborhood.
Presented by Lily Nguyen at
Berkshire Hathaway Homeservice.
Property MLS #OC24089428 from CRMLS
Lot Size Acres: 0.1965335
Lot Size Source: Assessor
Lot Size Square Feet: 8561
Parking Total: 15
Bedrooms in Unit-1: 20
Total Bathrooms in Unit-1: 14
Unit-1 Garage Spaces: 15
Rent Control: Yes
County: Los Angeles
Cap Rate: 5.10
Source Property Type: Residential Income
Insurance Expense: 5522.00
Area: 3 - Eastside, Circle Area
Source Neighborhood: 3 - Eastside, Circle Area
Number of Separate Electric Meters: 1
Number of Separate Gas Meters: 1
Number of Separate Water Meters: 1
Parcel Number: 7254005032
Professional Management Expense: 12000.00
Trash Expense: 1800.00
Zoning: LBR2N
Source System Name: C2C
| Year | Assessments Building + Land Total | Tax |
|---|---|---|
| 2022 | $1,500,000 + $3,000,000 $4,500,000 | $55,538 |
| 2021 | $1,400,000 + $1,900,000 $3,300,000 | $41,203 |
| 2020 | $1,300,048 + $455,011 $1,755,059 | $22,955 |
| 2019 | $1,274,557 + $446,090 $1,720,647 | $22,687 |
| 2018 | $1,249,566 + $437,344 $1,686,910 | $22,088 |
| 2017 | $1,225,065 + $428,769 $1,653,834 | $21,856 |
| 2016 | $1,201,045 + $420,362 $1,621,407 | $20,283 |
| 2015 | $1,183,005 + $414,048 $1,597,053 | $19,484 |
| 2014 | $1,159,832 + $405,938 $1,565,770 | $19,378 |
| 2013 | $1,154,591 + $404,104 $1,558,695 | $18,791 |
| 2012 | $1,131,952 + $396,181 $1,528,133 | $19,093 |
| 2010 | $1,109,757 + $388,413 $1,498,170 | $18,113 |
| 2009 | $1,104,080 + $386,427 $1,490,507 | $18,000 |
| 2009 | $1,101,463 + $385,511 $1,486,974 | $18,000 |
| 2008 | $1,082,432 + $378,850 $1,461,282 | $16,776 |
| 2007 | $1,061,208 + $371,422 $1,432,630 | $16,327 |
$4,650,000
CRMLS
Listing removed 2023-03-14
$0
TheMLSCLAW
Listing removed 2023-03-14
$0
TheMLSCLAW
Listing removed 2023-03-14
$0
TheMLSCLAW
Listed for rent 2023-02-21
$2,400
TheMLSCLAW
Listed for rent 2023-02-21
$2,200
TheMLSCLAW
Price Changed 2023-02-06
$4,595,000
TheMLSCLAW
Listed 2022-08-20
$4,695,000
TheMLSCLAW
Listing removed 2022-08-20
$0
CRMLS
Listed 2022-07-21
$4,699,999
CRMLS
Sold 2021-12-01
$4,500,000
Public Record
Sold 2020-11-19
$3,300,000
CRMLS
Sold 2003-07-15
$1,350,000
Public Record
Sold 2001-12-14
$212,000
Public Record
Sold 1995-03-31
$420,000
Public Record
Sold 1985-10-24
$149,000
Public Record
Year Built: 1986
Building Features: 1
Common Walls: No Common Walls
Entry Level: 1
Entry Location: Front
Property Age: 38
Levels or Stories: Three Or More
Building Total Stories: 3
Structure Type: Commercial/Residential
Year Built Source: Assessor
Sewer: Sewer: Public Sewer, Water Sewer Expense: 1140.00
Water Source: Public
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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.