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Lisa Johnson

lisasellssdhomes@gmail.com +1(619) 417-6764

$ 2,750,000

Est. payment -/mo

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Active Under Contract

102 Argonne AVE Long Beach, CA 90803

4,965 Sqft Lot

UPDATED:

Key Details

Property Type Condo

Sub Type Apartment

Listing Status Active Under Contract

Purchase Type For Sale

Subdivision Belmont Shore (Bsd)

MLS Listing ID PW25031111

HOA Y/N No

Year Built 1931

Lot Size 4,965 Sqft

Property Sub-Type Apartment

Property Description

Income and expense are using projected market values and put property operating near a projected 6% Cap and 11X Gross (Current estimated 4.43% and 13.3X). Located in the affluent community of Belmont Shore, a Southern California beach community and “college town” being just a few minutes from CSU Long Beach. Both buildings (also for sale with 5290 Division: 8U for $2,150,000) are meticulously cared for, and both have been upgraded with copper plumbing, electrical breakers, and most unit interiors have been upgraded. The investments provide the opportunity to increase your return by increasing the rents to market and separate metering the building utilities, therefore, providing immediate lower overhead/increased cash flow and continued added value in the future with rising utility costs being transferred to the tenants. Laundry is leased and managed by a 3rd party offering further income upside by canceling the contract and installing your own machines. Some units are turning over and may be rented at rates and differ from current income rent roll stated below. Insurance rates stated here are estimates may not be current rate for new owner, so buyer must get own insurance quotes including flood insurance if needed. No parking, street parking only.

Location

State CA

County Los Angeles

Area 1 - Belmont Shore/Park, Naples, Marina Pac, Bay Hrbr

Zoning LBR2S

Interior

Interior Features Multiple Staircases

Fireplaces Type None

Fireplace No

Laundry Common Area

Exterior

Parking Features None, On Street

Pool None

Community Features Urban

Utilities Available Electricity Connected, Natural Gas Connected

Roof Type Flat

Private Pool No

Building

Lot Description Corner Lot

Story 3

Entry Level Three Or More

Sewer Public Sewer

Water Public

Level or Stories Three Or More

New Construction No

Others

Senior Community No

Tax ID 7247016013

Acceptable Financing Cash, Cash to New Loan, 1031 Exchange

Listing Terms Cash, Cash to New Loan, 1031 Exchange

Special Listing Condition Standard

Listed by AJ Nay • AJ Nay, Broker • 305-433-3300

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Lisa Johnson

Agent | License ID: 01951113

+1(619) 417-6764

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Lisa Johnson

102 Argonne AVE Long Beach, CA 90803

Key Details

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Interior

Exterior

Building

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102 Argonne AVE