Thank you
Michael Hickman
Seven Gables Real Estate
714-731-3777
Welcome to this charming 7-unit apartment building nestled in the heart of downtown Long Beach! Built in 1922, this classic architectural gem offers a unique value-add investment opportunity for those looking to reimagine its potential. With a total of 7 units spread across 4,262 square feet, this property presents a mix of 6 cozy studio units and one spacious 1-bedroom, 1-bathroom unit. Each studio unit offers a comfortable living space, ideal for urban dwellers seeking simplicity and convenience. The one 1-bedroom unit provides a touch of luxury with additional space and privacy, perfect for a small family or a couple looking for a little extra room. This historic building exudes character with its timeless architecture, showcasing the charm of a bygone era. From the elegant facade to the intricate detailing, this property captures the essence of classic Long Beach architecture. While the building retains its historic charm, it is in need of updating and renovation, offering a blank canvas for investors to create a modern oasis in a prime downtown location. Situated in downtown Long Beach, residents will enjoy easy access to a vibrant array of dining, entertainment, and cultural attractions. With its proximity to public transportation, major highways, and bustling city life, this property offers an unbeatable location for urban living. This is a rare value-add deal, providing investors the opportunity to increase the property's value through renovation, repositioning, and rental optimization. Don't miss out on the chance to own a piece of Long Beach history and transform it into a lucrative investment. Embrace the potential of this 7-unit apartment building and make your mark on downtown Long Beach living!
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Water Source : Public
Sewer : Sewer Tap Paid
Year Built: 1922
Building Area Total: 4,262
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Lot Dimensions Source: Vendor Enhanced
Lot Size Acres: 0.0638
Lot Size Source: Assessor
Lot Size Square Feet: 2780
Original List Price: 949,000
Listing Contract Date: 2024-04-19
Listing Agreement: Exclusive Right To Sell
Parcel Number: 7280013030
Lease Term: Negotiable
Tenant Pays: Electricity
Source Listing Status: Pending
Source Neighborhood: 4 - Downtown Area, Alamitos Beach
Postal Code Plus 4: 2845
Directions: Chestnut and 3rd
Source Property Type: Residential Income
Area: 4 - Downtown Area, Alamitos Beach
Property SubType: Mixed Use
Property Age: 102
Common Walls: 2+ Common Walls
Structure Type: Mixed Use
Year Built Source: Assessor
Entry Level: 1
Entry Location: front door
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 @ 22:05
MLS: PW24082445
LISTED BY: Michael Hickman, Seven Gables Real Estate
SOURCE: CRMLS
Buyer Agency Compensation: 2%
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.