716 Raymond Avenue, Long Beach (90804)
$2,900,000
0 
0
6,426
PROPERTY DETAILS
| Address: |
view address Long Beach, CA 90804 Map Location |
Features: | Garage |
|---|---|---|---|
| Square Feet: | 6,426 sq.ft. | Lot Size: | 0.26 acres |
| Year Built: | 1923 | Property Type: | Mixed Use |
| Neighborhood: | Eastside (Es) | County: | Los Angeles |
| List Date: | 2024-04-01 | Listing Number: | PW24064015 |
| Listed By: | Steven M. Bogoyevac, Broker | Listing Office: | [email protected] |
PROPERTY DESCRIPTION
With strong rents in place, this asset is an ideal acquisition opportunity for an investor looking for cash flow in a dense coastal rental market. Assumable financing is available. 716 Raymond Avenue is a 1923 construction with 14 studios and two one-bedroom/one-bath units. Most units have single-story floor plans, and all are separately metered for gas and electricity. The building features on-site laundry and six single-car garages; both amenities generate additional income. The property has been well-maintained, and the electrical has been recently updated. In-place rents are strong and offer four percent potential upside. Additionally, a new investor may want to explore the potential to convert the garages to ADU's (buyer to verify). 716 Raymond Avenue is well-located in Eastside Long Beach's Rose Park neighborhood near the intersection of 7th Street and Junipero Avenue. Tenants enjoy convenient proximity to Junipero Beach (a four-minute drive) and easy access to retail. This property is offered as part of a portfolio along with 1043 and 1048 Coronado Avenue; 716 Raymond may be acquired separately.
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Exterior
| Garage Size: | 6.00 | Parking Spaces: | 6.00 |
Property and Lot Details
| Lot Acres: | 0.26 | Lot Number: | 16.00 |
| Lot Sqft: | 11,502.00 | Public Sewer: | Yes |
| Public Water: | Yes | Subdivision: | Eastside (ES) |
| Transaction Type: | Sale | Year Built: | 1923 |
Community information and market data Powered by Onboard Informatics. Copyright ©2024 Onboard Informatics. Information is deemed reliable but not guaranteed.
This information is provided for general informational purposes only and should not be relied on in making any home-buying decisions. School information does not guarantee enrollment. Contact a local real estate professional or the school district(s) for current information on schools. This information is not intended for use in determining a person’s eligibility to attend a school or to use or benefit from other city, town or local services.
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Community information and market data Powered by Onboard Informatics. Copyright ©2024 Onboard Informatics. Information is deemed reliable but not guaranteed.
This information is provided for general informational purposes only and should not be relied on in making any home-buying decisions. School information does not guarantee enrollment. Contact a local real estate professional or the school district(s) for current information on schools. This information is not intended for use in determining a person’s eligibility to attend a school or to use or benefit from other city, town or local services.
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Community information and market data Powered by Onboard Informatics. Copyright ©2024 Onboard Informatics. Information is deemed reliable but not guaranteed.
This information is provided for general informational purposes only and should not be relied on in making any home-buying decisions. School information does not guarantee enrollment. Contact a local real estate professional or the school district(s) for current information on schools. This information is not intended for use in determining a person’s eligibility to attend a school or to use or benefit from other city, town or local services.
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