1120 Raymond Avenue, Long Beach, California 90804, Long Beach, 90804 - 0 bed, 0 bath
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Long Beach, California 90804
This Triplex Asset represents a High-Potential Investment Opportunity listed at $1,310,000, matching its $1,310,000 Fair Market Value. The property features three spacious 3-bedroom townhome-style units with separate utility meters and a Condition Rating of 4, signaling significant Value-Add Potential through interior updates and ADU development. Situated in Eastside Long Beach near the 9/10 rated Fremont Elementary, the asset promises consistent rental demand and future appreciation. This is a strategic acquisition for Buy-and-Hold Investors or Owner-Occupants seeking a high-yield house-hack.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1120 Raymond Avenue Subject | $1,299,000* List Price | 0 | 0 | 3,720 | $349 | - |
A 1117 Mira Mar Avenue Sold | $1,300,000 | 0 | 0 | 2,901 | $448 | 0.9 mi |
B 844 Loma Sold | $960,000 | 0 | 0 | 3,048 | $315 | 0.8 mi |
C 1425 Park Sold | $1,100,000 | 6 | 4 | 2,680 | $410 | 0.8 mi |
D 2122 E 10th Street Active | $1,599,999 List Price | 0 | 0 | 3,658 | $437 | 0.2 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1972, this triplex shows no evidence of recent major renovations. The listing explicitly notes that 'significant capital expenditure for system upgrades... and interior renovations' would be needed to maximize rental income and tenant appeal. While functional for tenants, the property's age and lack of updates suggest outdated kitchens, bathrooms, and major systems, aligning with the 'fair' condition requiring minor updates or repairs.
Elementary School: Fremont Elementary School (9/10).
This triplex is explicitly marketed as an incredible investment opportunity, offering stability, upside in a hot rental market, appreciation potential, and future income growth in Eastside Long Beach.
Features three spacious townhome-style units, each with 3 bedrooms and 1.5 bathrooms, private entrances, and a functional two-story layout, which is highly attractive for long-term tenants.
Built in 1972, the property may require significant capital expenditure for system upgrades (e.g., plumbing, electrical, HVAC) and interior renovations to maximize rental income and tenant appeal, as no recent updates are mentioned.
While an ADU is a strong potential, the description states 'buyer to verify,' indicating that the feasibility, permitting, and associated costs are not guaranteed and require due diligence.
Each 3-bedroom unit having only 1.5 bathrooms might be a minor drawback for some larger families or tenant groups, potentially affecting marketability or rental rates compared to units with more bathrooms.
Price Improvement - Perfectly located huge 1972 built Eastside Triplex with 100% large two story 3 bed, 1.5 bath townhome style units. Triplex features three spacious two-story townhome-style units, each offering 3 bedrooms, 1.5 bathrooms, private entrances, and functional layouts ideal for long-term tenancy. Built in 1972, the property offers approximately 3,720 square feet of living space on a 5,201 square foot lot. Huge parking lot in rear. The property features separately metered gas and electricity, a large rear parking area, and potential ADU opportunities (buyer to verify). Conveniently located just minutes from Cal State Long Beach, Traffic Circle shopping and dining, Belmont Shore, and local beaches. An excellent opportunity for investors seeking long-term appreciation, future income growth, and the ability to unlock additional value in one of Long Beach's most desirable rental markets.
No exterior & parking available.
Grades K-5 • 0.5 mi
Grades K-5 • 0.5 mi
Grades K-5 • 0.6 mi
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 0.0 | 4.0 |
| Baths | 0.0 | 3.0 |
| Square foot | 3,720 | 2,100 |
| Lot Size | 5,201 | 5,077.5 |
| Price | $1.30M | $1.14M |
| Price per sq ft | $349 | $519 |
| Built year | 1972 | 1950 |
| HOA | $0 | $0 |
| Days on market | 182 | 68 |
Jun 30, 2026
$1,299,000
$1,310,000
-1% Price Drop
Initial Listing
Jan 21, 2026
$1,310,000
Initial Listing
Aug 31, 2005
$404,000
Public Record
Mar 24, 1998
$176,500
Public Record