1605 E. Broadway, Long Beach, California 90802, Long Beach, 90802 - bed, bath

1605 E. Broadway, Long Beach, California 90802 home-pic-0
ACTIVE$1,735,000
1605 E. Broadway, Long Beach, California 90802
0Bed
0Bath
3,512Sqft
4,120Lot

Price Vs. Estimate

Estimation data not available

Key pros and cons

Top Pros:
Prime Coastal Location: Situated in the highly sought-after Alamitos Beach community, just four blocks from the ocean, offering tenants easy access to the beach and desirable outdoor living spaces.
Top Cons:
Advanced Age of Structure: Built in 1920, the property's age may lead to higher ongoing maintenance costs and potential for unforeseen capital expenditures related to aging infrastructure.

Compared to the nearby listings

Price:$1.74M vs avg $1.05M (+$685,000)82%
Size:3,512 sqft vs avg 3,512 sqft50%
Price/sqft:$494 vs avg $48855%

More Insights

Built in 1920 (105 years old).
Condition: Despite being built in 1920, the property has been 'newly upgraded' with 'contemporary finishes in the kitchens and bathrooms, premium flooring, and fresh paint.' The images confirm a comprehensive, recent renovation, showcasing modern stainless steel appliances, white shaker cabinets, dark countertops, updated light fixtures, and clean, modern bathrooms with subway tile and glass shower enclosures. The interiors appear virtually new, meeting current quality standards with no visible deferred maintenance.
Year Built
1920
Close
-
List price
$1.74M
Original List price
$1.95M
Price/Sqft
$494
HOA
-
Days on market
-
Sold On
-
MLS number
SB25131049
Home ConditionExcellent
Features
Patio
View-

About this home

Welcome to this newly upgraded 4-plex building located in the highly sought after community of Alamitos Beach. Just four blocks from the ocean, and easy access to some of Long Beach's best outdoor living spaces, this asset is a must see! It offers many contemporary finishes in the kitchens and bathrooms, premium flooring, fresh paint, and independent laundry facilities for each unit. Each tenant manages their own utilities since the building is metered with independent gas and electric for each unit. With only 1.5 miles to downtown, you are within close proximity to some of the best restaurants and shops throughout the city. Tenants love living 4 blocks in from Ocean Ave., with easy access to the beach. This great asset remains competitive in the thriving rental market of Long Beach. The city is investing over a billion-dollars to infrastructure upgrades, including re-paving of the local streets, building new residential and commercial real estate projects, re-building bridges, and the ever expanding commerce of the Port of Long Beach. This ensures a stable economic draw to the Long Beach area, thus creating the perfect opportunity of building equity.

Nearby schools

6/10
Burbank Elementary School
Public,K-50.6mi
7/10
Stevenson Elementary School
Public,K-50.8mi
6/10
Franklin Classical Middle School
Public,6-80.5mi
6/10
Polytechnic High School
Public,9-121.5mi

Price History

Date
Event
Price
06/24/99
Sold
$266,000
08/12/98
Sold
$25,000
07/17/98
Sold
$140,000
08/09/16
Sold
$890,000
Condition Rating
Excellent

Despite being built in 1920, the property has been 'newly upgraded' with 'contemporary finishes in the kitchens and bathrooms, premium flooring, and fresh paint.' The images confirm a comprehensive, recent renovation, showcasing modern stainless steel appliances, white shaker cabinets, dark countertops, updated light fixtures, and clean, modern bathrooms with subway tile and glass shower enclosures. The interiors appear virtually new, meeting current quality standards with no visible deferred maintenance.
Pros & Cons

Pros

Prime Coastal Location: Situated in the highly sought-after Alamitos Beach community, just four blocks from the ocean, offering tenants easy access to the beach and desirable outdoor living spaces.
Recent Extensive Upgrades: The 4-plex has been newly upgraded with contemporary finishes in kitchens and bathrooms, premium flooring, and fresh paint, minimizing immediate capital expenditure for a new owner.
Strong Investment Potential: As a quadruplex in Long Beach's thriving rental market, supported by significant city infrastructure investments and the Port's commerce, it offers robust rental income and long-term equity building opportunities.
Optimized for Efficiency: Each unit features independent laundry facilities and separate metering for gas and electric, enhancing tenant convenience and significantly reducing landlord operating expenses.
Excellent Proximity to Amenities: Located only 1.5 miles from downtown Long Beach, providing easy access to a vibrant selection of restaurants, shops, and employment centers.

Cons

Advanced Age of Structure: Built in 1920, the property's age may lead to higher ongoing maintenance costs and potential for unforeseen capital expenditures related to aging infrastructure.
Lack of Desirable Views: The property description explicitly states 'view:None,' which could be a disadvantage in a coastal market where ocean or city views often command a premium.
Recent Price Reductions: Multiple price drops from the original listing price suggest potential market resistance or an initial overvaluation, which might indicate a need for further price adjustments to attract buyers.

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