$2300000 Price Analysis   ♡   Long Beach, CA 90804 2 bed 12 bath 4640 SqFt ($495/SqFt) 6501SqFt lot. Built 1923 Listed 2024-04-02, Taxes $15673 | Ⓧ USDA Ineligible due to price & location near Long Beach |
Offered at a 6.00 percent cap rate on current rents
This offering is a extraordinary acquisition opportunity for an investor looking for strong in-place cash flow in Long Beachs desirable Eastside rental market. Assumable financing is available. 1043 Coronado Avenue is a 1923 construction with 11 studios and one two-bed/one-bath unit; most units are single-story floor plans and all are separately metered for gas and electricity. The property also offers on-site laundry and five garages that generate additional income.
This asset is located in Eastside Long Beach, a strong-performing rental submarket, one block west of Redondo Avenue and within easy walking distance of a Food4Less-anchored shopping center and several dining options. This location offers tenants convenient access to Belmont Shore, freeways and Cal State Long Beach. 1043 Coronado Avenue is off ered along with 1048 Coronado Avenue, an eight-unit property located across the street; properties must be acquired together. These assets are part of a Long Beach portfolio sale along with 716 Raymond Avenue, a 16-unit asset that may b acquired separately.
Presented by Steven Bogoyevac at
Steven M. Bogoyevac, Broker.
Property MLS #PW24064543 from CRMLS
Lot Size Acres: 0.1492424
Lot Size Source: Assessor
Lot Size Square Feet: 6501
Parking Total: 6
Bedrooms in Unit-2: 2
Total Bathrooms in Unit-1: 1
Total Bathrooms in Unit-2: 1
County: Los Angeles
Cap Rate: 6.00
Source Property Type: Residential Income
Area: 3 - Eastside, Circle Area
Source Neighborhood: Eastside (ES)
Number of Separate Electric Meters: 12
Number of Separate Gas Meters: 12
Parcel Number: 7258005024
Postal Code Plus 4: 3844
Subdivision: Eastside (ES)
Zoning: LBR2N
Source System Name: C2C
| Year | Assessments Building + Land Total | Tax |
|---|---|---|
| 2022 | $262145 + $892414 $1154559 | $15673 |
| 2021 | $257005 + $874916 $1131921 | $15326 |
| 2020 | $254370 + $865945 $1120315 | $15288 |
| 2019 | $249383 + $848966 $1098349 | $15108 |
| 2018 | $244494 + $832320 $1076814 | $14690 |
| 2017 | $408000 + $1020000 $1428000 | $19069 |
| 2016 | $288599 + $808083 $1096682 | $14254 |
| 2015 | $284264 + $795945 $1080209 | $13702 |
| 2014 | $278696 + $780354 $1059050 | $13659 |
| 2013 | $277437 + $776828 $1054265 | $13250 |
| 2012 | $271998 + $761597 $1033595 | $13452 |
| 2010 | $266665 + $746664 $1013329 | $12780 |
| 2009 | $265302 + $742845 $1008147 | $12665 |
| 2009 | $264673 + $741084 $1005757 | $12665 |
| 2008 | $312120 + $749088 $1061208 | $12566 |
| 2007 | $63301 + $26513 $89814 | $2179 |
$2300000
CRMLS
Listed 2024-04-02
$2367000
CRMLS
Sold 2016-04-19
$1035000
Public Record
Year Built: 1923
Building Features: 1
Common Walls: No Common Walls
Entry Level: 1
Entry Location: 1
Property Age: 101
Building Total Stories: 2
Structure Type: Commercial/Residential
Year Built Source: Assessor
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.