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$1,650,000
Est. payment /mo
2,408 Sqft Lot
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
Subdivision Belmont Shore (Bsd)
MLS Listing ID PW25113362
HOA Y/N No
Year Built 1947
Lot Size 2,408 Sqft
Property Sub-Type Mixed Use
Property Description
32 La Verne Avenue is a five-unit apartment building in a prime location just steps from the beach in Long Beach, California's sought-after Belmont Shore neighborhood. The building is a two-story 1962 construction with three one-bedroom/one-bath units, two studios, and on-site laundry.
Current rents offer a new investor a substantial 61 percent rental upside, making this an excellent value-add opportunity in a coveted coastal submarket with a strong tenant base.
The Belmont Shore neighborhood is popular for its walkable dining, entertainment, and retail, and this affluent area boasts an average household income over $160,000. This neighborhood also offers convenient proximity to Cal State Long Beach and freeways.
Current rents offer a new investor a substantial 61 percent rental upside, making this an excellent value-add opportunity in a coveted coastal submarket with a strong tenant base.
The Belmont Shore neighborhood is popular for its walkable dining, entertainment, and retail, and this affluent area boasts an average household income over $160,000. This neighborhood also offers convenient proximity to Cal State Long Beach and freeways.
Location
State CA
County Los Angeles
Area 1 - Belmont Shore/Park, Naples, Marina Pac, Bay Hrbr
Zoning LBR2S
Interior
Fireplace No
Laundry Common Area
Exterior
Pool None
Community Features Suburban
Private Pool No
Building
Lot Description Rectangular Lot
Story 2
Sewer Public Sewer
Water Public
New Construction No
Others
Senior Community No
Tax ID 7247026010
Acceptable Financing Cash, Cash to New Loan
Listing Terms Cash, Cash to New Loan
Special Listing Condition Standard
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Listed by Steven Bogoyevac • Steven M. Bogoyevac, Broker • steve.bogoyevac@marcusmillichap.com
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