1584 Elm Avenue, Long Beach, California 90813, Long Beach, 90813 - 2 bed, 2 bath
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Long Beach, California 90813
This 1922 Duplex Asset is listed at $800,000, relative to a $745,513 Fair Market Value. Situated in the high-demand Downtown Long Beach area and the Long Beach Unified district, the property serves as a strategic Value-Add Investment Opportunity. With a Condition Rating of 5, the "As-Is" sale requires updates to electrical and plumbing systems, allowing for significant forced appreciation. The dual 2-bedroom unit configuration and basement storage provide strong ROI potential in a vibrant urban market. This project is perfectly tailored for Fix-and-Flip Investors or Buy-and-Hold Investors.
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 | $432 | - |
A 812 E 8th Street Active | $655,000 List Price | 4 | 2 | 1,313 | $499 | 0.8 mi |
* Subject property listed price vs sold prices of comps.
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.
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.
Situated in the desirable Downtown Area/Alamitos Beach, the property benefits from a vibrant urban setting, strong rental demand, and potential for appreciation.
The 'as-is' condition and explicit repair needs present a clear opportunity for investors to renovate, enhance property value, and optimize rental income.
The property explicitly needs significant repairs, including paint, carpet, and addressing electrical and plumbing issues, necessitating substantial immediate investment from the buyer.
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.
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.
- 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
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 2.0 | 2.0 | 50% |
| Baths | 2.0 | 1.0 | 72% |
| Square foot | 1,724 | 1,027 | 83% |
| Lot Size | 2,921 | 3,399.5 | 39% |
| Price | $800.0K | $602.5K | 78% |
| Price per sq ft | $464 | $680 | 22% |
| Built year | 1922 | 1922 | 50% |
| HOA | $0 | $0 | 50% |
| Days on market | 744 | 170 | 0% |
Apr 8, 2024
$800,000
Initial Listing
Feb 16, 2024
$5,987,500
Public Record
Aug 15, 2008
$317,000
Public Record
Jul 31, 2006
$650,000
Public Record
Oct 7, 2005
$540,000
Public Record
Mar 22, 2005
$385,000
Public Record