1100 E 10th Street, Long Beach, California 90813, Long Beach, 90813 - 2 bed, 2 bath
ACTIVE$1,400,000
1100 E 10th Street, Long Beach, California 90813
2Beds
2Baths
3,879Sqft
10,008Lot
Price Vs. Estimate
Estimation data not available
Key pros and cons
Top Pros:
Mixed-Use & Income Generating: The property is a prime Mixed-Use Residential & Commercial asset, featuring a Beer & Wine Convenience market and two 1-bedroom, 1-bath residential homes, offering diversified income streams and significant cash flow potential.
Top Cons:
Advanced Age of Property: Built in 1921, the property is over 100 years old, which may imply potential for significant deferred maintenance, outdated systems, and higher capital expenditure requirements for renovations or upgrades.
Compared to the nearby listings
Price:$1.40M vs avg $850.0K (+$550,000)92%
Size:3,879 sqft vs avg 2,366 sqft92%
Price/sqft:$361 vs avg $34954%
More Insights
Built in 1921 (104 years old).
Condition: Built in 1921, this property is over 100 years old and shows significant signs of age and deferred maintenance on the exterior, including worn paint, an old roof, and dated windows. The MLS analysis explicitly notes the 'Advanced Age of Property' and the 'potential for significant deferred maintenance, outdated systems, and higher capital expenditure requirements for renovations or upgrades.' While currently occupied, the overall condition strongly suggests that the residential units, including kitchens and bathrooms, are severely outdated and require substantial repairs and rehabilitation to meet modern standards and comfort. The limited access for due diligence further supports the likelihood of significant hidden issues.
Year Built
1921
Close
-
List price
$1.4M
Original List price
$1.7M
Price/Sqft
$361
HOA
-
Days on market
-
Sold On
-
MLS number
IV25084847
Home ConditionPoor
Features
View-
About this home
A fantastic opportunity to purchase a prime Mixed-Use Residential & Commercial Property in Long Beach with huge cash flow potential. Excellent location with Great Visibility of this 2507 SF Beer & Wine Convenience market situated on the front corner of very heavily traveled 10th and Alamitos streets. The adjacent 1372 SF building has two residential homes each complete with 1BR, 1 BA. The location is less than 1 mile from the Alamitos Beach and close walking distance to famous landmarks like Shoreline & Ocean Blvd, Long Beach Convention & Entertainment Center, Long Beach Downtown, and Medical Centers. Convenience market and the Homes are leased & occupied. Further there is enormous rental demand in this area. Seller is very serious & motivated so submit your offers in confidence, your offer will be favorably considered and responded. Please do not disturb tenants.
Price History
Date
Event
Price
01/20/99
Sold
$200,000
06/11/07
Sold
$1,500,000
Condition Rating
Poor
Built in 1921, this property is over 100 years old and shows significant signs of age and deferred maintenance on the exterior, including worn paint, an old roof, and dated windows. The MLS analysis explicitly notes the 'Advanced Age of Property' and the 'potential for significant deferred maintenance, outdated systems, and higher capital expenditure requirements for renovations or upgrades.' While currently occupied, the overall condition strongly suggests that the residential units, including kitchens and bathrooms, are severely outdated and require substantial repairs and rehabilitation to meet modern standards and comfort. The limited access for due diligence further supports the likelihood of significant hidden issues.
Pros & Cons
Pros
Mixed-Use & Income Generating: The property is a prime Mixed-Use Residential & Commercial asset, featuring a Beer & Wine Convenience market and two 1-bedroom, 1-bath residential homes, offering diversified income streams and significant cash flow potential.
Prime High-Visibility Location: Strategically located on the front corner of heavily traveled 10th and Alamitos streets, the property boasts excellent visibility crucial for the commercial component and strong accessibility for residential tenants.
High Occupancy & Rental Demand: Both the convenience market and residential homes are currently leased and occupied, with 'enormous rental demand in this area,' ensuring immediate and stable income for an investor.
Proximity to Major Long Beach Attractions: The location is less than 1 mile from Alamitos Beach and within walking distance to famous landmarks such as Shoreline & Ocean Blvd, Long Beach Convention & Entertainment Center, and Downtown Long Beach, enhancing its appeal to tenants and customers.
Motivated Seller & Price Adjustment: The seller is 'very serious & motivated,' evidenced by the reduction in list price from $1.7M to $1.4M, presenting a potential opportunity for a favorable acquisition.
Cons
Advanced Age of Property: Built in 1921, the property is over 100 years old, which may imply potential for significant deferred maintenance, outdated systems, and higher capital expenditure requirements for renovations or upgrades.
Lack of Detailed Financials/Lease Information: While 'huge cash flow potential' and occupancy are mentioned, specific rental rates, lease terms, and operating expenses are not provided, necessitating extensive due diligence for a comprehensive investment analysis.
Limited Access for Due Diligence: The instruction 'Please do not disturb tenants' suggests restricted access for comprehensive inspections and appraisals, which could complicate the buyer's ability to fully evaluate the property's condition and value.