3201 3201 Long Beach, Vernon, California 90058, Vernon, 90058 - bed, bath
ACTIVE$700,000
3201 3201 Long Beach, Vernon, California 90058
0Bed
0Bath
1,494Sqft
3,957Lot
Price Vs. Estimate
Estimation data not available
Key pros and cons
Top Pros:
Strong Investment Potential: Explicitly described as a 'Great investment opportunity' with two income-generating units and constant rental income, indicating stable cash flow.
Top Cons:
Advanced Age of Property: Built in 1927, the property is likely to require ongoing maintenance, updates to older systems (plumbing, electrical), and potential for unforeseen repairs, increasing long-term operational costs.
Compared to the nearby listings
Price:$700.0K vs avg $541.0K (+$159,000)75%
Size:1,494 sqft vs avg 890 sqft75%
Price/sqft:$469 vs avg $53125%
More Insights
Built in 1927 (98 years old).
Condition: The property, built in 1927, is significantly aged. While the listing states 'Both units are in great condition,' this likely refers to functionality and habitability rather than modern aesthetics or recent renovations. The exterior appears maintained but dated, and the absence of interior photos, particularly for kitchens and bathrooms, prevents assessment of current styles, appliances, and fixtures. Given its age, it's highly probable that major systems and interior finishes are outdated and would require minor updates or repairs to meet current standards, aligning with a 'Fair' condition rating.
Year Built
1927
Close
-
List price
$700K
Original List price
$700K
Price/Sqft
$469
HOA
-
Days on market
-
Sold On
-
MLS number
CV25224616
Home ConditionFair
Features
ViewBack Bay
About this home
Great investment opportunity for a 2 unit multi-zoned property. Two beds one bath in each unit with constant rental income. Both units are in great condition. No rent control on said property
Price History
Date
Event
Price
09/09/93
Sold
$75,000
Condition Rating
Fair
The property, built in 1927, is significantly aged. While the listing states 'Both units are in great condition,' this likely refers to functionality and habitability rather than modern aesthetics or recent renovations. The exterior appears maintained but dated, and the absence of interior photos, particularly for kitchens and bathrooms, prevents assessment of current styles, appliances, and fixtures. Given its age, it's highly probable that major systems and interior finishes are outdated and would require minor updates or repairs to meet current standards, aligning with a 'Fair' condition rating.
Pros & Cons
Pros
Strong Investment Potential: Explicitly described as a 'Great investment opportunity' with two income-generating units and constant rental income, indicating stable cash flow.
Exemption from Rent Control: A significant advantage in California, allowing for market-rate rent adjustments and maximizing income potential without state-mandated restrictions.
Multi-Zoned Property: Offers flexibility for potential future development or change of use, enhancing long-term value and options beyond its current residential configuration.
Units in Excellent Condition: The description states 'Both units are in great condition,' suggesting minimal immediate capital expenditure for a new owner, allowing for quicker cash flow.
Dual Income Stream: Two separate units provide diversified rental income, reducing risk and potentially offering higher returns compared to a single-unit rental property.
Cons
Advanced Age of Property: Built in 1927, the property is likely to require ongoing maintenance, updates to older systems (plumbing, electrical), and potential for unforeseen repairs, increasing long-term operational costs.
Location in Industrial Zone: Situated in Vernon, primarily an industrial city, which may limit residential tenant appeal, expose residents to industrial noise/traffic, and affect long-term residential appreciation compared to traditional neighborhoods.
Discrepancy in Property Type: Listed as 'Single Family Residence' but described as a '2 unit multi-zoned property.' This inconsistency requires thorough due diligence to verify the legal status and permitting of both units, which could pose a risk or additional cost.