Thank you
Matthew Mahowald
Buckingham Investments, Inc
310-982-7055
Charming, turnkey, and in a prime location – this is the generational asset you have been looking for! This clean and well-maintained 8-unit property consists of six 1bed/1bath units (over 900 sqft each) and two studio units with four garages. All the units are large, allow for a ton of natural light inside, have great layouts with cool original features (like French Doors, custom built-ins, fire places, etc.). Plus, the vintage character of this classic Spanish style property has been meticulously preserved, while modern amenities have been added over time like laundry units, AC/Heating units, modern kitchens, lighting, ceiling fans, etc. in each unit. The entire property is secured, has drought-resistant landscaping, and has separate electrical and gas meters for each unit. Located within Alamitos Beach, this highly sought after neighborhood of Costal Long Beach is in close proximity to the best the city has to offer – local parks (Carroll & Bixby Park), local beaches (Alamitos & Junipero Beach), local restaurants (4th Street Corridor & Retro Row), local golf courses, public transportation, etc. Plus, this neighborhood is securely anchored by the thriving local economy that continues to grow within Downtown Long Beach. For the savvy investor, the potential may exist to convert the garages into two studio units and/or to add additional bedrooms/ bathrooms to the existing large 1bed units. Also, one might consider a short-term and/or mid-term rental strategy to boost the income even more. This perfect combination is what every tenant is looking for in this area, which keeps vacancy rates low and market rental rates as high as possible – making this a great addition to any investors portfolio!
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Water Source : Public
Sewer : Public Sewer
Roof : Flat
Exterior Property Features : Lighting
Interior Features: Built-in Features,Ceiling Fan(s),Multiple Staircases,Open Floorplan,Quartz Counters,Recessed Lighting
Fireplace: None
Flooring: Laminate,Vinyl,Wood
None
Air Conditioning
Ductless
Has Heating
Fireplace Features: None
Has Fireplace: 0
Year Built: 1923
Building Area Total: 6,392
Construction: Unknown
Roof: Flat
Lighting
Raised
Gated Community,Smoke Detector(s)
None
Electric Dryer Hookup,Gas Dryer Hookup,Inside,Laundry Closet,Laundry Room
Good Condition,Security
Lot Dimensions Source: Vendor Enhanced
Lot Size Acres: 0.1551
Lot Size Source: Public Records
Lot Size Square Feet: 6756
Original List Price: 3,350,000
Listing Contract Date: 2024-01-31
Listing Agreement: Exclusive Right To Sell
Parcel Number: 7275018033
Garage Description: Garage,Public
Lease Term: Negotiable
Tenant Pays: Electricity,Gas
Source Listing Status: Active
Source Neighborhood: 4 - Downtown Area, Alamitos Beach
Postal Code Plus 4: 3859
Directions: On Cherry Ave and 3rd St
Zoning: LBR1N
Source Property Type: Residential Income
Area: 4 - Downtown Area, Alamitos Beach
Property SubType: Mixed Use
Property Age: 101
Common Walls: 2+ Common Walls
Property Condition: Turnkey
Structure Type: Mixed Use
Year Built Source: Public Records
Entry Location: Eastside
Property Attached: Yes
Levels or Stories: Two
Building Total Stories: 2
Address | Estimate | Bed | Bath | Sq. Ft | Lot Size |
---|---|---|---|---|---|
360 W Ocean Boulevard #.., Long Beach, CA,90802 | $479,000 | 1 | 1 | 777 | 7371 Sqft |
527 W 3rd Street, Long Beach, CA,90802 | $8,700,000 | -- | -- | 19,935 | 7525 Sqft |
140 Linden Avenue #962, Long Beach, CA,90802 | $475,000 | 1 | 1 | 539 | 33488 Sqft |
1030 E Ocean Boulevard .., Long Beach, CA,90802 | $885,000 | 3 | 2 | 1,250 | 21096 Sqft |
1000 E Ocean Boulevard .., Long Beach, CA,90802 | $959,000 | 3 | 2 | 1,592 | 37396 Sqft |
338 Cedar Avenue, Long Beach, CA,90802 | $4,500,000 | -- | -- | 10,150 | 7503 Sqft |
708 E Alta Way, Long Beach, CA,90802 | $799,900 | 2 | 1 | 688 | 1293 Sqft |
375 Atlantic Avenue #607, Long Beach, CA,90802 | $425,000 | 1 | 1 | 707 | 11000 Sqft |
1030 E Ocean Boulevard .., Long Beach, CA,90802 | $335,000 | -- | 1 | 460 | 21100 Sqft |
354 Chestnut Avenue #27, Long Beach, CA,90802 | $225,000 | -- | -- | 26,000 | 13037 Sqft |
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ByOwner last updated this listing 05/21/2024 @ 13:59
MLS: SB24022524
LISTED BY: Matthew Mahowald, Buckingham Investments, Inc
SOURCE: CRMLS
Buyer Agency Compensation: 2.5%
Buyer Agency Description: The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed and if applicable, to participants of reciprocating MLS's as set forth in Association/MLS reciprocal agreements.