3025 E Theresa, Long Beach, California 90814, Long Beach, 90814 - bed, bath
ACTIVE$1,990,000
3025 E Theresa, Long Beach, California 90814
0Bed
0Bath
4,170Sqft
6,501Lot
Price Vs. Estimate
Estimation data not available
Key pros and cons
Top Pros:
Strong Investment Potential: This property is explicitly marketed as a 'Prime Fourplex Investment Opportunity' with 'upside potential in rental income' and 'room for income growth,' appealing to investors seeking appreciation and cash flow in a thriving rental market.
Top Cons:
Age of Property & Potential for Dated Interiors: Built in 1973, the property is over 50 years old. While exterior improvements are noted, the 'value-add' description implies that unit interiors may require significant renovation to maximize rental income and attract premium tenants.
Compared to the nearby listings
Price:$1.99M vs avg $1.50M (+$485,000)93%
Size:4,170 sqft vs avg 2,271.5 sqft71%
Price/sqft:$477 vs avg $64129%
More Insights
Built in 1973 (52 years old).
Condition: Built in 1973, this property is over 50 years old. While the listing notes recent exterior improvements like a new roof and garage doors, it explicitly describes the property as a 'value-add investment' with 'upside potential in rental income,' implying that the interiors, particularly kitchens and bathrooms, are significantly dated and require substantial renovation and capital outlay to meet current market standards. There is no mention of updates to critical interior systems such as plumbing, electrical, or HVAC, which for a property of this age, would likely require significant attention.
Year Built
1973
Close
-
List price
$1.99M
Original List price
$1.99M
Price/Sqft
$477
HOA
-
Days on market
-
Sold On
-
MLS number
OC25256259
Home ConditionPoor
Features
View-
About this home
Prime Fourplex Investment Opportunity in the Heart of the City- Discover this exceptional four-unit multifamily property perfectly situated in a desirable and quiet residential neighborhood with strong rental demand. This 4170 sq.ft. building sits on a 7501 sq.ft. lot and features spacious (1) 3bedroom, 2 bathrooms, (3) 2bedroom, two-baths units, each individually metered for gas and electricity-offering convenience and efficiency for both tenants and owners. Priced at a competitive $477 per rentable square foot, this property presents and excellent value-add investment with upside potential in rental income. Recent improvements new roof and garage doors, adding long-term durability and reduced maintenance costs. With its central location, solid fundamentals, and room for income growth, this fourplex is a great opportunity for investors seeing stability and future appreciation in a thriving rental market.
Price History
Date
Event
Price
04/06/01
Sold
$469,000
12/07/99
Sold
$399,000
05/09/02
Sold
$585,000
Condition Rating
Poor
Built in 1973, this property is over 50 years old. While the listing notes recent exterior improvements like a new roof and garage doors, it explicitly describes the property as a 'value-add investment' with 'upside potential in rental income,' implying that the interiors, particularly kitchens and bathrooms, are significantly dated and require substantial renovation and capital outlay to meet current market standards. There is no mention of updates to critical interior systems such as plumbing, electrical, or HVAC, which for a property of this age, would likely require significant attention.
Pros & Cons
Pros
Strong Investment Potential: This property is explicitly marketed as a 'Prime Fourplex Investment Opportunity' with 'upside potential in rental income' and 'room for income growth,' appealing to investors seeking appreciation and cash flow in a thriving rental market.
Desirable Location: Situated in a 'desirable and quiet residential neighborhood' within Belmont Heights, Long Beach, the property benefits from a 'central location' and 'strong rental demand,' enhancing its long-term stability and appeal.
Individual Metering & Unit Mix: Each unit is 'individually metered for gas and electricity,' reducing owner utility costs, and features a desirable mix of (1) 3-bedroom, 2-bathroom and (3) 2-bedroom, 2-bathroom units, catering to various tenant needs.
Recent Capital Improvements: The property benefits from 'new roof and garage doors,' which adds long-term durability and reduces immediate maintenance concerns and capital expenditures for a new owner.
Competitive Pricing: Priced at a 'competitive $477 per rentable square foot,' this property presents an excellent value proposition for a multifamily asset in the Long Beach market, offering a solid entry point for investors.
Cons
Age of Property & Potential for Dated Interiors: Built in 1973, the property is over 50 years old. While exterior improvements are noted, the 'value-add' description implies that unit interiors may require significant renovation to maximize rental income and attract premium tenants.
Significant Capital Outlay for Value-Add: The 'value-add investment' aspect means a new owner will likely need to invest substantial capital beyond the purchase price for interior upgrades and modernization to fully realize the 'upside potential in rental income.'
No Mention of Other System Updates: While the roof and garage doors are new, there is no information provided regarding the condition or updates of other critical building systems such as plumbing, electrical, or HVAC, which could lead to unforeseen expenses.