1044 Ohio Avenue, Long Beach, California 90804, Long Beach, 90804 - bed, bath
ACTIVE$1,250,000
1044 Ohio Avenue, Long Beach, California 90804
0Bed
0Bath
3,679Sqft
5,911Lot
Price Vs. Estimate
The estimated value ($1,346,284.495) is $96,284.495 (7%) higher than the list price ($1,250,000). This property may be underpriced.
Key pros and cons
Top Pros:
Value-Add Investment Potential: The property offers significant value-add potential due to rents currently being below market, allowing for increased cash flow upon rent adjustments.
Top Cons:
Underperforming Current Rents: While offering value-add potential, the current below-market rents mean the property is not maximizing its income potential in its present state.
Compared to the nearby listings
Price:$1.25M vs avg $1.24M (+$15,000)60%
Size:3,679 sqft vs avg 2,298 sqft87%
Price/sqft:$340 vs avg $47913%
More Insights
Built in 1986 (39 years old).
Condition: Built in 1986, this quadruplex is 38 years old. While the property appears well-maintained and clean, the interior units, particularly the kitchens and bathrooms, are significantly dated. Kitchens feature older white cabinets, laminate countertops, white appliances, and vinyl flooring. Bathrooms have older vanities, laminate counters, and basic tiled shower/tub combos. Flooring throughout is a mix of carpet and vinyl, and cooling/heating appears to be via wall units. The overall condition suggests regular upkeep but no major renovations since construction, aligning with the 'fair' category's description of an aged but maintained property with functional but outdated major components, requiring minor updates to meet modern standards.
Year Built
1986
Close
-
List price
$1.25M
Original List price
$1.25M
Price/Sqft
$340
HOA
-
Days on market
-
Sold On
-
MLS number
PW25057873
Home ConditionFair
Features
View-
About this home
Prime 4-Unit Investment Opportunity in Long Beach – Professionally Managed & Value-Add Potential! Fantastic opportunity to own a well-maintained, professionally managed 4-unit property in a high-demand Long Beach rental market. This fully occupied building features a spacious upper unit with 3 bedrooms and 2 baths, plus three additional 2-bedroom, 1-bath units, all occupied by long-term tenants. With rents currently below market, this property offers strong value-add potential for investors looking to increase cash flow. Additional features include 4 one-car garages and 4 covered carport spaces, ensuring ample parking for tenants. Located in a prime area near markets, restaurants, the ocean, and numerous attractions, this is an ideal investment in one of Long Beach’s most desirable neighborhoods. Professional management is already in place, making this a turnkey investment opportunity. Don’t miss out on this excellent investment.
Nearby schools
5/10
Willard Elementary School
Public,•K-5•0.2mi
7/10
Lee Elementary School
Public,•K-5•0.5mi
6/10
Burbank Elementary School
Public,•K-5•0.6mi
6/10
Bryant Elementary School
Public,•K-5•0.9mi
4/10
Whittier Elementary School
Public,•K-5•1.0mi
9/10
Fremont Elementary School
Public,•K-5•1.0mi
7/10
Lincoln Elementary School
Public,•K-5•1.0mi
7/10
Jefferson Leadership Academies School
Public,•6-8•0.7mi
6/10
Franklin Classical Middle School
Public,•6-8•1.1mi
6/10
Wilson High School
Public,•9-12•1.0mi
6/10
Polytechnic High School
Public,•9-12•1.5mi
Price History
Date
Event
Price
08/08/02
Sold
$490,000
05/30/02
Sold
$320,000
Condition Rating
Fair
Built in 1986, this quadruplex is 38 years old. While the property appears well-maintained and clean, the interior units, particularly the kitchens and bathrooms, are significantly dated. Kitchens feature older white cabinets, laminate countertops, white appliances, and vinyl flooring. Bathrooms have older vanities, laminate counters, and basic tiled shower/tub combos. Flooring throughout is a mix of carpet and vinyl, and cooling/heating appears to be via wall units. The overall condition suggests regular upkeep but no major renovations since construction, aligning with the 'fair' category's description of an aged but maintained property with functional but outdated major components, requiring minor updates to meet modern standards.
Pros & Cons
Pros
Value-Add Investment Potential: The property offers significant value-add potential due to rents currently being below market, allowing for increased cash flow upon rent adjustments.
Prime Long Beach Location: Situated in a high-demand Long Beach rental market, near markets, restaurants, the ocean, and attractions, enhancing tenant appeal and long-term appreciation.
Turnkey & Professionally Managed: With professional management already in place, this is a turnkey investment, reducing immediate operational burdens for a new owner.
Fully Occupied with Stable Tenancy: The building is fully occupied by long-term tenants, ensuring immediate and stable rental income from day one.
Ample Parking Facilities: The property includes 4 one-car garages and 4 covered carport spaces, providing generous and desirable parking for all tenants.
Cons
Underperforming Current Rents: While offering value-add potential, the current below-market rents mean the property is not maximizing its income potential in its present state.
Unspecified Unit Modernization: The description does not detail recent interior renovations or modern amenities within the units, which may be required to achieve top market rents and fully realize value-add potential.
Potential for Future Capital Expenditures: Built in 1986, the property, despite being well-maintained, may require future capital expenditures or updates common for buildings of this age to sustain its condition and competitive edge.