402 E 16th Street, Long Beach, California 90813, Long Beach, 90813 - 3 bed, 2 bath
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Long Beach, California 90813
This Income-Generating Duplex is a strategic Value-Add Asset in Downtown Long Beach, listed at $700,000. Positioned near its $624,991 Fair Market Value, the property offers significant upside through the renovation of two 2-bedroom, 1-bath units. Built in 1913 and sold in "As-Is" Condition, the residence features separate electric and gas meters and sits within the Long Beach Unified district. With a Condition Rating of 5, this property requires modernization to maximize ROI in a high-demand rental market. It is an ideal acquisition for Buy-and-Hold Investors or Owner-Occupants.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 402 E 16th Street Subject | $700,000* List Price | 3 | 2 | 1,485 | $421 | - |
A 1082 1084 Lewis Sold | $505,000 | 0 | 0 | 1,400 | $361 | 0.7 mi |
B 1450 Peterson Active | $825,000 List Price | 0 | 0 | 1,475 | $559 | 0.9 mi |
* Subject property listed price vs sold prices of comps.
Property is extensive renovation needed.
This property, built in 1913, is over a century old and explicitly listed as 'Sold 'As is' condition' and 'Needs a little TLC.' While the exterior appears structurally sound from the provided image, the age strongly indicates that major systems (electrical, plumbing, HVAC, roof, foundation) are likely original or very outdated, requiring substantial repairs and rehabilitation to meet modern safety and comfort standards. Without any evidence of recent renovations, the kitchen and bathrooms are almost certainly in very poor, outdated condition, necessitating complete overhauls. The 'little TLC' for a property of this vintage typically translates to significant capital investment for modernization and deferred maintenance.
The property is a duplex featuring two 2-bedroom, 1-bath units, offering immediate rental income potential for investors.
Situated in the desirable Downtown Long Beach area, providing access to urban amenities, potential for appreciation, and strong rental demand.
Each unit has separate electric and gas meters, reducing landlord operating expenses and increasing net income.
The property is sold 'As is' and 'needs a little TLC,' requiring immediate capital investment for repairs and upgrades.
Only one water meter for both units means the landlord is responsible for the entire water bill, impacting profitability.
Built in 1913, the property is over a century old, potentially indicating outdated systems, deferred maintenance, and higher renovation costs to modernize.
- This duplex has two 2 bedrooms & 1 bath each unit - Sold “As is” condition - Needs a little TLC but is priced accordingly - Separate electric: 2 - Gas meters: 2 - Water meters: 1
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 3.0 | 0.0 | 93% |
| Baths | 2.0 | 0.0 | 93% |
| Square foot | 1,485 | 2,366 | 27% |
| Lot Size | 2,585 | 5,200 | 13% |
| Price | $700.0K | $985.0K | 20% |
| Price per sq ft | $471 | $425 | 73% |
| Built year | 1913 | 1922 | 27% |
| HOA | $0 | $0 | 50% |
| Days on market | 744 | 174 | 0% |
Apr 8, 2024
$700,000
Initial Listing
Jun 15, 2009
$297,500
Public Record
Apr 20, 2009
$195,000
Public Record
Dec 14, 1999
$151,000
Public Record