2240 Walnut Avenue, Signal Hill, California 90755, Signal Hill, 90755 - 0 bed, 0 bath
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Signal Hill, California 90755
This Redevelopment Triplex Opportunity is listed at $899,990, reflecting the strategic premium of its rare Triplex + ADU Zoning in a high-demand corridor. While the $825,153 Fair Market Value accounts for the current Condition Rating of 5, the property offers significant upside through a complete renovation or high-density rebuild. Situated directly across from Signal Hill Elementary School with immediate 405 Freeway access, the location ensures long-term rental stability and low vacancy. This asset is a prime acquisition for Value-Add Investors and Developers looking to maximize lot utility.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 2240 Walnut Avenue Subject | $899,990* List Price | 0 | 0 | 2,511 | $329 | - |
A 1984 Raymond Sold | $985,000 | 0 | 0 | 3,172 | $311 | 0.5 mi |
* Subject property listed price vs sold prices of comps.
Property is extensive renovation needed.
Originally built in 1949, the property is explicitly marketed as a redevelopment or major renovation opportunity. While some rooms feature newer laminate flooring and recessed lighting, other areas show unfinished subflooring and dated cabinetry. The presence of window AC units and the listing's description of 're-imagining' the triplex lot indicate significant deferred maintenance and the need for substantial rehabilitation to meet modern standards.
The 5,131 square foot lot is zoned to accommodate a triplex plus an ADU, offering significant value-add potential through redevelopment or expansion.
Centrally located with proximity to Belmont Shore, Long Beach Airport, and the Aquarium of the Pacific, ensuring high desirability and low vacancy rates.
Situated directly across from the highly-rated Signal Hill Elementary School, making the location particularly attractive for families and long-term tenants.
Originally built in 1949, the property likely requires substantial modernization or a full 're-imagining' to address deferred maintenance and meet modern standards.
Operating expenses are currently unknown, which complicates the initial underwriting process and ROI projections for prospective investors.
The units are currently occupied, which may present logistical hurdles for immediate redevelopment plans or significant interior renovations.
OPPORTUNITY TO RE-IMAGINE A TRIPLEX LOT IN A PRIME LOCATION IN SIGNAL HILL. This 5,131 square foot lot can accommodate the redevelopment or renovation of a triplex + ADU. The units are currently occupied. Located across the street from the highly-rated Signal Hill Elementary School with convenient access to the 405 Freeway. Only 4.8 miles from Belmont Shore, 3.3 miles from Long Beach Airport, and 3.5 miles from the Long Beach Aquarium of the Pacific. Operating expenses are unknown. Call the listing agent for clarity.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 0.0 | 0.0 | 50% |
| Baths | 0.0 | 0.0 | 50% |
| Square foot | 2,511 | 2,841.5 | 50% |
| Lot Size | 5,130 | 6,377 | 25% |
| Price | $900.0K | $1.02M | 25% |
| Price per sq ft | $358 | $334 | 50% |
| Built year | 1949 | 1968 | 25% |
| HOA | $0 | $0 | 50% |
| Days on market | 257 | 163 | 0% |
Aug 8, 2025
$899,990
Initial Listing