531 N Virginia Court, Long Beach, California 90802, Long Beach, 90802 - 0 bed, 0 bath
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Long Beach, California 90802
This Prime Investment Opportunity is a turnkey triplex listed at $969,000, positioned well below the $1,007,205 Fair Market Value by 3%. This valuation gap offers $38,205 in Instant Equity. Featuring a Condition Rating of 2, the property includes modern kitchen finishes and significant system upgrades. Its strategic location near downtown and the coast ensures strong rental demand. This asset is an ideal acquisition for Buy-and-Hold Investors or Owner-Occupants looking to house-hack in a high-growth market.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 531 N Virginia Court Subject | $969,000* List Price | 0 | 0 | 1,987 | $507 | - |
A 555 E 3rd Sold | $930,000 | 0 | 0 | 1,926 | $483 | 0.7 mi |
B 416 Lime Sold | $1,025,000 | 0 | 0 | 2,204 | $465 | 0.8 mi |
C 440 N Zona Court Sold | $945,000 | 0 | 0 | 1,846 | $512 | 1.0 mi |
* Subject property listed price vs sold prices of comps.
Property is new construction or fully renovated.
While originally built in 1908, the property has undergone a comprehensive recent renovation (likely within the last 5 years) featuring modern shaker cabinets, subway tile backsplashes, and quartz countertops in the kitchens, along with contemporary tile and fixtures in the bathrooms. The listing confirms significant system updates including newer roofs and plumbing upgrades, and the interior shows mint-condition flooring, recessed lighting, and fresh paint throughout.
Situated less than a mile from the ocean and half a mile from downtown Long Beach, the property is perfectly positioned to benefit from major local developments and high rental demand.
With remodeled units, newer roofs, and plumbing upgrades, this turnkey triplex minimizes immediate maintenance costs and offers modern appeal for tenants.
The three-unit configuration provides a versatile opportunity for 'house hacking'—allowing an owner-occupant to live in one unit while the other two offset the mortgage.
Built in 1908, the property may possess underlying infrastructure limitations or layout inefficiencies common to vintage buildings that modern updates cannot fully resolve.
The assigned high school has a low rating of 3, which could be a deterrent for long-term family tenants and may impact the property's competitive edge in the broader residential market.
Prime Investment Opportunity in Long Beach! This updated 3-unit property offers long-term value and reliable income less than 1/2 mile to the heart of downtown and less than 1 mile to the Ocean. Recent Cap Ex includes remodeled units with newer roofs and plumbing upgrades make for a unique opportunity at this price point. Perfect scenario to live in one unit and offset the mortgage by renting the other two. Surrounded by major developments like the Long Beach Civic Center, Queen Mary Island, and West Gateway, the property benefits from the city's continued investment growth. Just minutes from the vibrant Downtown Long Beach core, residents enjoy easy access to a wide range of dining, shopping, and entertainment options. Nearby Alamitos Beach, Golden & Lincoln Park, and Shoreline Village provide ample recreation opportunities. Conveniently located near the 710 and 405 freeways and the Metro Blue Line, residents also benefit from seamless accessibility to LA & Orange County. Long Beach's thriving economy, supported by its shipping, aerospace, and healthcare sectors, ensures a strong tenant base. Don’t miss this turnkey investment in one of Southern California's most desirable markets!
No exterior & parking available.
Grades K-5 • 0.2 mi
Grades K-5 • 0.4 mi
Grades K-5 • 0.8 mi
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 0.0 | 4.0 |
| Baths | 0.0 | 3.0 |
| Square foot | 1,987 | 2,100 |
| Lot Size | 3,315 | 5,077.5 |
| Price | $969.0K | $1.14M |
| Price per sq ft | $488 | $519 |
| Built year | 1908 | 1950 |
| HOA | $0 | $0 |
| Days on market | 6 | 68 |
Jul 16, 2026
$969,000
Initial Listing
Sep 5, 2019
$835,000
Public Record
Aug 2, 2018
$420,000
Public Record