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1120 Raymond Avenue, Long Beach, California 90804, Long Beach, 90804 - bed, bath

1120 Raymond Avenue, Long Beach, California 90804 home-pic-0
ACTIVE$1,350,000
1120 Raymond Avenue, Long Beach, California 90804
0Bed
0Bath
3,720Sqft
5,201Lot
Year Built
1972
Close
-
List price
$1.35M
Original List price
$1.35M
Price/Sqft
$363
HOA
-
Days on market
-
Sold On
-
MLS number
PW25113398
Home ConditionPoor
Features
View-

About this home

We found 3 Cons,6 Pros. Rank: price - $1.35M(73th), sqft - 3720(87th), beds - undefined(50th), baths - undefined(50th).

Incredible investment opportunity in Eastside Long Beach! This triplex features three spacious townhome-style units, each offering 3 bedrooms and 1.5 bathrooms with private entrances and a functional two-story layout—perfect for long-term tenants. Totaling approximately 3,720 sq ft of living space on a 5,201 sq ft lot, the property includes ample parking in the rear and low-maintenance landscaping. Each unit is separately metered for gas and electricity. This property is ideal for the savvy investor looking to own a stable asset with value-add potential in a hot rental market. Conveniently located near schools, parks, transportation, and just minutes from the beach and downtown Long Beach.

Nearby schools

5/10
Willard Elementary School
Public,•K-5•0.5mi
7/10
Lee Elementary School
Public,•K-5•0.5mi
6/10
Burbank Elementary School
Public,•K-5•0.6mi
4/10
Whittier Elementary School
Public,•K-5•0.7mi
7/10
Lincoln Elementary School
Public,•K-5•0.7mi
6/10
Bryant Elementary School
Public,•K-5•1.1mi
9/10
Fremont Elementary School
Public,•K-5•1.2mi
7/10
Jefferson Leadership Academies School
Public,•6-8•0.9mi
6/10
Franklin Classical Middle School
Public,•6-8•0.9mi
6/10
Polytechnic High School
Public,•9-12•1.3mi
6/10
Wilson High School
Public,•9-12•1.3mi

Price History

Date
Event
Price
08/31/05
Sold
$404,000
03/24/98
Sold
$176,500
Condition Rating
Poor
Built in 1972, this property is over 50 years old. The listing explicitly states 'value-add potential' and that the 'current condition of the units may be outdated and require modernization,' indicating a need for substantial repairs and rehabilitation, particularly for kitchens and bathrooms. The property analysis also highlights that its age 'may indicate a need for significant capital expenditures for updates to systems and infrastructure.' While the exterior appears functional, the lack of interior photos and the strong emphasis on modernization suggest that major components and interior finishes are likely original or very dated, requiring significant investment to bring them to current standards.
Pros & Cons

Pros

Great Schools: Elementary School: Fremont Elementary School (9/10).
Investment Opportunity: This triplex offers three spacious townhome-style units, making it an ideal income-generating asset for investors in a hot rental market.
Desirable Unit Configuration: Each unit features 3 bedrooms and 1.5 bathrooms with a functional two-story layout and private entrances, appealing to long-term tenants.
Operational Efficiency: Units are separately metered for gas and electricity, reducing landlord burden and promoting tenant responsibility for utility costs.
Strategic Location: Located in Eastside Long Beach, the property is conveniently near schools, parks, transportation, and just minutes from the beach and downtown.
Value-Add Potential: The property is highlighted as having value-add potential, suggesting opportunities for increased revenue through renovations or rent optimization.

Cons

Property Age: Built in 1972, the property is over 50 years old, which may indicate a need for significant capital expenditures for updates to systems and infrastructure.
Renovation Requirements: While offering 'value-add potential,' this implies the current condition of the units may be outdated and require modernization to maximize rental income and appeal.
Limited Common Amenities: The description does not mention common area amenities such as on-site laundry facilities or shared recreational spaces, which could be a drawback for tenants.

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