338 Elm Avenue 3, Long Beach, California 90802, Long Beach, 90802 - 2 bed, 1 bath
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Long Beach, California 90802
This contractor-maintained urban condo represents a Strong Value Opportunity, listed at $375,000—positioned well below the $410,312 Fair Market Value by 8%. This valuation gap provides $35,312 in Instant Equity. While maintaining a Fair Condition Rating, the property benefits from a new roof and City Lights views. Located within the Long Beach Unified district near Stevenson Elementary, it offers significant rental or resale upside despite recorded square footage discrepancies. This is an ideal acquisition for Buy-and-Hold Investors or first-time buyers.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 338 Elm Avenue 3 Subject | $375,000* List Price | 2 | 1 | 832 | $493 | - |
A 433 Atlantic 6 Sold | $485,000 | 2 | 1 | 922 | $526 | 0.1 mi |
B 100 Atlantic Avenue 1100 Sold | $480,000 | 2 | 1 | 820 | $585 | 0.2 mi |
C 637 Atlantic 3 Sold | $465,000 | 2 | 2 | 820 | $567 | 0.3 mi |
D 933 E 1st Street 7 Sold | $338,000 | 1 | 1 | 629 | $537 | 0.4 mi |
E 50 Elm Avenue 4 Sold | $350,000 | 1 | 1 | 713 | $491 | 0.2 mi |
F 375 Atlantic Avenue 508 Sold | $430,000 | 2 | 2 | 956 | $450 | 0.1 mi |
G 338 1 Elm Avenue Active | $450,000 List Price | 2 | 1 | 832 | $541 | 0.0 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
The property was built in 1958, making it significantly older than the 'Good' or 'Excellent' categories require without a documented full renovation. While the listing notes 'excellent condition' and a 'new roof' maintained by a contractor owner, the absence of interior images makes it impossible to verify modern updates to the kitchen, bathrooms, or flooring. It is classified as 'Fair' because it is an aged property that appears well-maintained through regular upkeep but likely retains older systems and styles consistent with its vintage.
Owned by a Licensed General Contractor, the property boasts a new roof and excellent overall condition, ensuring high-quality upkeep and reduced immediate capital expenditures for the buyer.
Priced competitively at $375,000 for a two-bedroom unit, this property represents a highly accessible entry point for first-time homeowners or investors in the Long Beach area.
Located in the 90802 zip code with city light views, the property offers excellent proximity to downtown amenities, public transit, and coastal attractions, enhancing its rental and resale appeal.
Living area discrepancy between mls listing and other public or private record. mls listing living area = 832, other record living area = 587. Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 2, other record bedroom count = 1.
Constructed in 1958, the property may lack modern infrastructure such as central climate control or in-unit laundry hookups typically found in newer condominium developments.
With only 832 square feet shared between two bedrooms and a single bathroom, the layout may feel restrictive for families or those requiring dedicated home office space.
property owner is a Licensed General Contractor. New roof, excellent condition and great location. i car parking.
No exterior & parking available.
Grades K-5 • 0.2 mi
Grades K-5 • 0.3 mi
Grades K-5 • 0.4 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 2.0 | 1.0 | 53% |
| Baths | 1.0 | 1.0 | 50% |
| Square foot | 832 | 865 | 47% |
| Lot Size | 7,472 | 22,651.199 | 16% |
| Price | $375.0K | $485.0K | 24% |
| Price per sq ft | $451 | $578 | 7% |
| Built year | 1958 | 1972 | 33% |
| HOA | $250.0 | $475 | 15% |
| Days on market | 32 | 182 | 1% |
Mar 21, 2026
$375,000
Initial Listing
Dec 21, 2001
$25,000
Public Record