$1,995,000 1420 Walnut Avenue Long Beach, CA

MLS: PW19056424   Type: Income   County: Los Angeles   City: Long Beach   Area: Eastside - Circle Area   Neighborhood: Eastside   Zip: 90813     Stories: 2

Mortgage $9,366 /mo



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We are pleased to present an 8-unit multi-family property located in Long Beach, CA. The unit mix consists of (2) 3-Bedrooms / 2-Bathroom units, (4) 2-bedroom / 1-Bathroom units and (2) 1-Bedroom / 1-Bathroom units. The structure was built in 1963 and is 7,029 rentable square feet on a 6,323 square foot lot. This property has a great amount of potential to add value and raise rents in order to increase cash flow on this asset and ensure to meet current market rents. Owners enjoy the high demand for rentals in a coastal city of Long Beach, as well as shopping, restaurants and nightlife in Downtown Long Beach and the surrounding areas. The City of Long Beach continues to progress forwards and is currently experiencing a major redevelopment of $2.2 billion. An example of this large scale redevelopment is the new Long Beach Civic Center, which is estimated to be completed early 2019. The Civic Center and the surrounding areas will further continue Long Beach's ability to attract renters due to its strong economy and high quality of life.

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Price History

3/13/2019 Listed $2,100,000
4/11/2019 3% - $2,050,000
5/14/2019 3% - $1,995,000

Attached Structure Attached
Community Features Curbs, Sidewalks
Directions 14th Street & Walnut AVE
Levels Two
Listagentaor Pacific West
Listing Agent Kevin King - BRE#01158184
Listing Agent State License 01158184
MLS Area 3 - Eastside, Circle Area
Price Per Square Foot 283.82
Property Attached Y/N Yes
Senior Community Y/N No
Source System CRMLS
Subdivision Name Eastside (ES)
Subdivision Name Eastside (ES)
Total Units 8
Zoning LBR2N

Interior Features

1st Bedroom Area Unit Type Square Feet
2nd Bedroom Area Unit Type Square Feet
3rd Bedroom Area Unit Type Square Feet
Common Walls 2+ Common Walls
Laundry Features None
Laundry Y/N No
Studio Area Unit Type Square Feet
Total Stories 2

Exterior Features

Building Area Total 7029.00
Garage Spaces 4.00
Land Lease Y/N No
Lot Features 11-15 Units/Acre
Lot Size Acres 0.1452
Lot Size Area 6324.0000
Lot Size Source Assessor
Lot Size Square Feet 6324.00
Lot Size Units Square Feet
Number of Buildings 1
Number of Separate Electric Meters 8
Number of Separate Gas Meters 8
Number of Separate Water Meters 1
Numberofrentedgarages 4
Pool Features None
Private Pool Y/N No
Sewer Public Sewer, Septic Type Unknown, Unknown
Total Parking 4.00
Water Source Public

Property Schools

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Property vs Zip Code Avg (90813)

Price 1.99M Avg 1.38M

Sqr Feet 7,029 Avg 3,929

Cost / Sqr Ft $284 Avg $353

Acres 0.1452 Avg 0.13

Visits 63 Avg 53

Days on Site 166 Avg 106

Walkscore® 89 Avg 88

Data Provided by Walkscore ® not using MLS data

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Listing Provided Courtesy Of: Kevin King with Marcus & Millichap.

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Location & Address

Howard Perry
3626 Long Beach Blvd.
Long Beach, CA