262 Park Avenue

    Long Beach, CA 90803
    • $2,675,000
    • STATUS: Active
    • ON SITE: 139 days
    • ID#: 18413266
    UPDATED: 68 min ago
    $2,675,000
    • 0
      BEDS
    • 0.15
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 4,980
      SQFT
    • $537
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1923
    County:

    School Ratings & Info

    Description

    262 Park Avenue is a 4-unit property located in the Estates Section of Belmont Heights, presenting the unique opportunity to own an income property in a phenomenal rental market with tremendous growth potential. Conveniently located blocks away from the beach, Alamitos Bay, Naples Island, East 2nd Street, and the new 2nd & PCH outdoor shopping center set to open in Summer 2019.Complete restoration of this 1920's Spanish Colonial style property with ocean views from select units features new kitchens with stamp-concrete tile, bathrooms featuring carrera-marble, new heating, plumbing, electrical, individual laundry hook-ups and hardwood floors throughout. Each unit also features one dedicated oversized garage with additional storage in each.Long Beach home sales prices have increased over 35% since January 2015, making it more difficult for home ownership and ensuring a continued strong rental market. With overall rent increases of 30% over the same time period, multi-family has

    Monthly Payment Calculator



    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-04-23T17:41:24.693. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. Licensed in the State of California, USA.
    www.hellerthehomeseller.com/homes/89856789

    262 Park Avenue Long Beach, CA 90803

    • Price: $2,675,000
    • Status: Active
    • Updated: 68 min ago
    • ID#: 18413266
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.15
    Acres
    4,980
    SQFT
    $537
    $/SQFT
    1923
    Built
    Neighborhood:
    Belmont Heights
    County:
    Los Angeles
    Area:
    2 - Belmont Heights, Alamitos Heights
    Property Description
    262 Park Avenue is a 4-unit property located in the Estates Section of Belmont Heights, presenting the unique opportunity to own an income property in a phenomenal rental market with tremendous growth potential. Conveniently located blocks away from the beach, Alamitos Bay, Naples Island, East 2nd Street, and the new 2nd & PCH outdoor shopping center set to open in Summer 2019.Complete restoration of this 1920's Spanish Colonial style property with ocean views from select units features new kitchens with stamp-concrete tile, bathrooms featuring carrera-marble, new heating, plumbing, electrical, individual laundry hook-ups and hardwood floors throughout. Each unit also features one dedicated oversized garage with additional storage in each.Long Beach home sales prices have increased over 35% since January 2015, making it more difficult for home ownership and ensuring a continued strong rental market. With overall rent increases of 30% over the same time period, multi-family has
    Exterior Features

    Construction Materials Stucco Garage Spaces 4.00 Lot Size Source Assessor Lot Size Units Square Feet Parking Features Garage - Single Door Parking Total 4.00 Parking YN Yes Roof Spanish Tile View Ocean View YN Yes

    Interior Features

    Appliances RefrigeratorBuilt-In RangeDishwasher Appliances YN Yes Cooling Wall/Window Unit(S)None Cooling YN No Door Features French Doors Flooring StoneWood Interior Features Balcony Laundry Features Dryer IncludedIn KitchenElectric Dryer HookupWasher Included Room Type Master Bedroom

    Property Features

    Cap Rate 4.23 Gross Multiplier 16.70 Gross Operating Income 155394.00 Laundry YN Yes Net Operating Income 113057.00 Special Listing Conditions Standard Subdivision Name Other Belmont Heights Total Expenses 42337.00 Zoning Lbr1n

    Listing provided courtesy of David Harrington of Matthews Real Estate Investmen


    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-04-23T17:41:24.693. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. Licensed in the State of California, USA.
     
    Heller The Home Seller
    171 Saxony Road, Ste. 205
    Encinitas CA, 92024