1155 Orizaba Avenue,  Long Beach CA, 90804 (Residential Income)

8,371 sqft
Status: Sold
MLS#: PW15061558
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Last Updated: 12/6/2016 3:18 PM
Description for 1155 Orizaba Avenue Long Beach, CA 90804
Proud to offer a well-maintained 9 unit apartment building located at 1155 Orizaba Avenue. The property is three blocks west of Redondo Avenue and one block south of Anaheim Street, in the city of Long Beach. The property is a three story walk-up style building consisting of 1 one bedroom/one bathroom units, 8 two bedroom/ two bathroom. The wood frame, painted stucco building offers 8371 rentable square feet and was constructed in 1987. The property offers 17 ground level parking spaces thus making it a prime property for a future condo conversion. This is a rare opportunity to acquire a new constructed building in the prime rental market of Long Beach. With a stable return on current numbers, true upside in rents for a more aggressive management style, and with the potential condo conversion as an exit strategy this acquisition a perfect addition to any investor’s portfolio.
Price
Sold Price:
$1,825,000
Sold Date:08/04/2015
Los Angeles
8,371 (approx)
PW15061558
Closed
Description
Proud to offer a well-maintained 9 unit apartment building located at 1155 Orizaba Avenue. The property is three blocks west of Redondo Avenue and one block south of Anaheim Street, in the city of Long Beach. The property is a three story walk-up style building consisting of 1 one bedroom/one bathroom units, 8 two bedroom/ two bathroom. The wood frame, painted stucco building offers 8371 rentable square feet and was constructed in 1987. The property offers 17 ground level parking spaces thus making it a prime property for a future condo conversion. This is a rare opportunity to acquire a new constructed building in the prime rental market of Long Beach. With a stable return on current numbers, true upside in rents for a more aggressive management style, and with the potential condo conversion as an exit strategy this acquisition a perfect addition to any investor’s portfolio.
Listing Information
Property Type: Cluster, 3+ Story
0.14 Acres 6,250 sq.ft. 8,371 (approx)
1987
Public Water Service
Sewer at Street
9 Total
Neighborhood
Room Information
Laundry Area
Exterior / Lot Features
17 Parking Spaces, Assigned Parking Space
None
No Pool
Sidewalks
Driving Directions
The subject proeprty is one block South of Anaheim Street, and three blocks West of Redondo Avenue.
Financial Considerations
7259017030
$124,860 Income ,$38,229Expense
Listing Price History

Long Beach Real Estate

Long Beach is located in California. Long Beach, California 90804 has a population of 463,589.

The median household income in Long Beach, California 90804 is $52,900. The median household income for the surrounding county is $56,241 compared to the national median of $53,046. The median age of people living in Long Beach 90804 is 33.2 years.

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Courtesy: Marcus & Millichap Ryan Rayburn
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