$1,250,000
534 Maine Avenue Long Beach, CA 90802
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$1,250,000
Est. payment /mo
7 Beds
2,630 SqFt
UPDATED:
11/20/2024 01:41 PM
Key Details
Property Type Other Types
Sub Type OTHER
Listing Status Active
Purchase Type For Sale
Square Footage 2,630 sqft
Price per Sqft $475
MLS Listing ID CL24462853
Bedrooms 7
HOA Y/N No
Year Built 1924
Lot Size 5,015 Sqft
Acres 0.12
Property Description
534 Maine Ave is a 4-unit building, originally built in 1924. This property comprises (3) spacious 2-bedroom units, each approximately 725 square feet, and (1) 1-bedroom unit at 460 square feet. One of the 2-bedroom units are currently vacant offering opportunity for a owner-user. Additionally, there is a 30% potential rental upside, providing an excellent opportunity for income growth with market adjustments. The property has been meticulously maintained and upgraded, reducing the need for substantial capital expenditures. The owner has undertaken significant improvements, including modern renovations to all units, creating a fresh, move-in-ready atmosphere. Updated landscaping enhances the curb appeal and ensures low-maintenance upkeep for future ownership. Each unit is individually metered, the owner covers water and sewer costs, while tenants are responsible for gas, trash, and electricity. This is a perfect fit for an investor or owner-user looking for a turnkey, well-located property with major capital improvements already completed, offering immediate cash flow and future upside potential.
Location
State CA
County Los Angeles
Area Listing
Zoning LBPP
Interior
Fireplace No
Laundry Dryer, Washer
Building
New Construction No
Others
Tax ID 7278020048
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Listed by John McCann • Lyon Stahl Investment Real Estate, Inc.
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