240 E Eldridge Street, Long Beach, California 90807 home-pic-0

ACTIVE$675,000$720/sqft

Est. Value: $563,998

-16%

AboveEstimate

240 E Eldridge Street, Long Beach, California 90807

2Beds

1Bath

720Sqft

5,976Lot

Price Vs. Estimate

The estimated value ($563,998.305) is $111,001.695 (16%) lower than the list price ($675,000). This property may be overpriced.

Key pros and cons

Top Pros:

Development & Expansion Potential: The expansive 5,976 sqft lot offers significant opportunities for building an ADU, expanding the current home, or exploring multi-family development, catering to investors and homeowners alike.

Top Cons:

Compact Interior Living Space: With only 720 sqft, the interior living space is quite small for a 2-bedroom home, which may limit appeal for buyers seeking more spacious accommodations.

Compared to the nearby listings

Price:$675.0K vs avg $1.05M ($-373,000)4%

Size:720 sqft vs avg 1,790 sqft1%

Price/sqft:$938 vs avg $65093%

More Insights

Built in 1922 (104 years old).

Condition: Built in 1922, this property is over 100 years old. The exterior image reveals significant age with faded paint, a worn roof, neglected landscaping, and deteriorated concrete steps, indicating substantial deferred maintenance. While no interior images are provided, it is highly probable that the kitchen, bathroom, and all major systems (electrical, plumbing, HVAC) are original or severely outdated, requiring complete renovation. The listing description heavily emphasizes the 'expansive lot' and 'potential' for development (ADU, expansion, multi-family), suggesting the property's value lies primarily in the land rather than the existing structure. Although the description mentions 'current comfort,' the overall condition and age strongly indicate that the home requires substantial repairs and rehabilitation to be safe and comfortable by modern standards.

Year Built

1922

List price

$675K

Original List price

$675K

Price/Sqft

$938

HOA

Days on market

Sold On

MLS number

OC25216041

Home ConditionPoor

Features

ViewNeighborhood

About this home

Welcome to 240 E Eldridge St—a charming single-family home offering endless potential in the heart of Long Beach. This cozy residence sits on an expansive lot, making it an excellent opportunity for homeowners, investors, or developers. The spacious lot opens the door to multiple possibilities: build an ADU for additional income, expand the current home, or explore the potential for a multi-family development (buyer to verify). Whether you’re looking to create a private retreat or maximize rental opportunities, the options here are truly exciting. The location is a standout—just minutes from Memorial Hospital, major freeways, shopping, and a variety of restaurants. You’ll love the convenience of being close to everything Long Beach has to offer while still enjoying the comfort of a residential neighborhood. With Long Beach’s thriving community and growing demand for housing, this property is a rare find that combines current comfort with future upside. Don’t miss out on this versatile opportunity—schedule a showing today and imagine the possibilities!

Nory Chin

Listing Agent

Price History

Date

Event

Price

08/02/01

Sold

$139,500

Condition Rating

Poor

Built in 1922, this property is over 100 years old. The exterior image reveals significant age with faded paint, a worn roof, neglected landscaping, and deteriorated concrete steps, indicating substantial deferred maintenance. While no interior images are provided, it is highly probable that the kitchen, bathroom, and all major systems (electrical, plumbing, HVAC) are original or severely outdated, requiring complete renovation. The listing description heavily emphasizes the 'expansive lot' and 'potential' for development (ADU, expansion, multi-family), suggesting the property's value lies primarily in the land rather than the existing structure. Although the description mentions 'current comfort,' the overall condition and age strongly indicate that the home requires substantial repairs and rehabilitation to be safe and comfortable by modern standards.

Pros & Cons

Pros

Prime Long Beach Location: Strategically located minutes from Memorial Hospital, major freeways, shopping, and diverse restaurants, providing exceptional convenience and access to Long Beach amenities.

Investment & Income Opportunity: Positioned as an excellent opportunity for investors, with potential for rental income maximization through ADU development in a thriving housing market.

Generous Lot Size: The substantial 5,976 sqft lot provides ample space for outdoor living, future expansion, or additional structures, a rare asset in urban settings.

Strong Market Demand: Located in Long Beach, a community with thriving demand for housing, ensuring potential for future appreciation and a robust resale market.

Cons