1584 Elm Avenue, Long Beach, California 90813, Long Beach, 90813 - 2 bed, 2 bath
1584 Elm Avenue
Long Beach, California 90813
Property Price
SUMMARY
Analysis of 1584 Elm Avenue, Long Beach, California 90813 reveals a property with a current list price of $800,000, which is 5% above the estimated $753,627 Fair Market Value. Buyers should carefully evaluate the pricing and consider negotiation opportunities. The property maintains a Poor Condition Rating (30/100), indicating the property requires renovation and updates to maximize its market potential. This presents opportunities for value-add investors. Located in a high-demand neighborhood within the Long Beach Unified School District, this asset is categorized as a low-risk, high-reward acquisition suitable for Experienced Investors and Fix-and-Flip Specialists.
Estimated Market Value
Comparable Sales Map
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1584 Elm Avenue Subject | $800,000* List Price | 2 | 2 | 1,724 | $437 | - |
A 1759 N Palmer Court Active | $619,900 List Price | 3 | 2 | 1,240 | $500 | 0.2 mi |
* Subject property listed price vs sold prices of comps.
Condition Analysis
OVERALL CONDITION SCORE
Property is extensive renovation needed.
Built in 1922 and explicitly sold 'As-Is,' the property requires substantial repairs including paint, carpet, and critically, electrical and plumbing issues. These, especially in a building of this age, indicate significant defects that likely affect safety and soundness, necessitating extensive rehabilitation rather than minor updates.
PROSSTRENGTHS & OPPORTUNITIES
- Duplex Income Potential
The property is configured as a duplex with two separate 2-bedroom, 1-bathroom units, offering significant rental income potential or flexible owner-occupancy with supplementary income.
- Prime Downtown Long Beach Location
Situated in the desirable Downtown Area/Alamitos Beach, the property benefits from a vibrant urban setting, strong rental demand, and potential for appreciation.
- Value-Add Investment Opportunity
The 'as-is' condition and explicit repair needs present a clear opportunity for investors to renovate, enhance property value, and optimize rental income.
CONSRISKS & DEFICIENCIES
- Extensive Repair Requirements
The property explicitly needs significant repairs, including paint, carpet, and addressing electrical and plumbing issues, necessitating substantial immediate investment from the buyer.
- Sold in As-Is Condition
The seller's 'as-is' stipulation means the buyer assumes all responsibility and cost for necessary repairs and upgrades without any seller contribution or concessions.
- Listed Above Estimated Market Value
The current list price of $800,000 is approximately 5% higher than the estimated property value of $753,627.81, suggesting it may be overpriced relative to current market assessments.
About 1584 Elm Avenue
- Property is a duplex which consists of two 2 bedrooms & 1 bathroom units - Property is being sold in As-Is condition - Needs some repairs such has paint, carpet and some electrical and plumbing issues. - Property has a basement for extra storage
Property Details
Public Facts
- Property Type
- Single Family Residence
- Year Built
- 1922
- Lot Size
- 2,921 Sq. Ft.
Interior
- Total Bedrooms
- 2
- Total Bathrooms
- 2 (2 Full, 0 Half)
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $0 / Month
Neighborhood Insights
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 2.0 | 2.0 | 50% |
| Baths | 2.0 | 1.0 | 69% |
| Square foot | 1,724 | 1,161.5 | 81% |
| Lot Size | 2,921 | 4,004 | 31% |
| Price | $800.0K | $652.5K | 75% |
| Price per sq ft | $464 | $624 | 19% |
| Built year | 1922 | 1922 | 50% |
| HOA | $0 | $0 | 50% |
| Days on market | 697 | 161 | 0% |
Pricing History
Listed for Sale
Apr 8, 2024
$800,000
Initial Listing
Sold
Feb 16, 2024
$5,987,500
Public Record
Sold
Aug 15, 2008
$317,000
Public Record
Sold
Jul 31, 2006
$650,000
Public Record
Sold
Oct 7, 2005
$540,000
Public Record
Sold
Mar 22, 2005
$385,000
Public Record