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Key Details
Sold Price $1,685,000
Property Type Commercial
Sub Type Other
Listing Status Sold
Purchase Type For Sale
Square Footage 5,354 sqft
Price per Sqft $314
MLS Listing ID CRPW24105603
Sold Date 09/26/24
HOA Y/N No
Year Built 1960
Lot Size 5,663 Sqft
Acres 0.13
Property Description
Pleased to present 6508 Orange Avenue, a secure 8-unit apartment building in the heart of vibrant Long Beach, California. Built in 1960, the property consists exclusively of two-bedroom/one-bathroom units. For added comfort and convenience, the property features an on-site laundry facility as well as (4) off-street parking spaces for tenants to use. This apartment building offers residents easy access to an array of local amenities including shopping centers, restaurants, entertainment venues, and recreational parks. With convenient access to major transportation routes, commuting to other parts of the city is effortless. Priced at $214,375/unit for this unit mix, this property is one of the more affordable deals on the market. Further, through modernization of the units and increases on current rent levels that are projected to be 53% below market, this property offers phenomenal value appreciation and exceptional future cash-on-cash returns.
Location
State CA
County Los Angeles
Area Listing
Zoning LBR4
Interior
Fireplace No
Laundry Other
Exterior
Parking Type Assigned
Building
Lot Description Other
Sewer Public Sewer
Water Public
New Construction No
Others
Tax ID 7114013044
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© 2024 BEAR, CCAR, bridgeMLS. This information is deemed reliable but not verified or guaranteed. This information is being provided by the Bay East MLS or Contra Costa MLS or bridgeMLS. The listings presented here may or may not be listed by the Broker/Agent operating this website.
Bought with SamSidhu