219 Redondo Ave - Apartments FOR SALE


Long Beach, CA 90803- Belmont Heights
$1,988,888 USD
562-256-5643
219 Redondo Ave, Long Beach, CA for Sale
$1,988,888 USD
Apartments - FOR SALE
1/19
null | 4.2% Cap Rate

219 Redondo Ave
Long Beach, CA 90803
Belmont Heights


HIGHLIGHTS

  • 2 Blocks to the Beach in Historic Bluff Park, sits along the Broadway Corridor walking distance to many restaurants and shops
  • Very spacious units average 845 sqft each. Remodeled and full of character.
  • Very low maintenance building with no Cap Ex needed. Meticulously maintained by the owner. Remodeled units, New Plumbing, New Polymer Roof

OVERVIEW

Coastal Charm Meets Historic Elegance in Bluff Park. Experience a rare opportunity to own a "pride of ownership" fourplex situated just two blocks from the Pacific. Nestled on the edge of the vibrant Broadway Corridor and the historic Bluff Park neighborhood, this property sits among wide, tree-lined streets and iconic turn-of-the-century architecture. The craftsmanship is evident from the moment you see the wrought iron fencing and custom awnings. Inside, these extra-large, fully remodeled units perfectly blend vintage character with modern luxury. Interior Highlights: Refinished red oak floors, original double-hung windows, and French doors opening to Juliet balconies that catch the ocean breeze. Kitchen's feature restored antique O’Keefe and Merritt stoves, granite counters, and custom subway tile. Space to Breathe: Each unit boasts a large living/dining area, a dedicated home office alcove, oversized bedrooms, and its own washer/dryer. Outside, tenants have private,large backyard outdoor spaces perfect for lounging. With low expenses, updated plumbing, all supply and drain lines (2018), A new polymer roof in 2023 and significant rental upside, this is a turnkey gem in an unbeatable location. Secure a cornerstone asset for your portfolio with this meticulously maintained fourplex in Long Beach’s coveted Bluff Park. Long Beach is NOT subject to local rent control, only subject to AB 1482 rent control - maximum annual increase of 5% + CPI (currently 8.0%).

FOR SALE DETAILS

PRICE

$1,988,888 USD

PRICE/SF

$528 USD /SF

# OF UNITS

4

PRICE/UNIT

$497,222

CAP RATE

4.2%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1923

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.07 AC

LAND SF

3,103 SF

ZONING

LBR3S

APN/PARCEL ID

7264-003-007

ASK ABOUT THIS PROPERTY

Trevor LarameeRealty Source, Inc.More Info
562-256-5643

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Trevor LarameeRealty Source, Inc.More Info
562-256-5643

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.