620 Pacific Avenue 3, Long Beach, California 90802, Long Beach, 90802 - bed, bath
ACTIVE$1,249,000
620 Pacific Avenue 3, Long Beach, California 90802
0Bed
0Bath
1,981Sqft
2,001Lot
Price Vs. Estimate
Estimation data not available
Key pros and cons
Top Pros:
Income-Generating Triplex: As a triplex, this property offers multiple income streams, providing a diversified and stable investment opportunity in a desirable urban market.
Top Cons:
Age of Construction: Built in 1953, the property is an older structure, which may necessitate significant capital expenditures for system upgrades, modernization, or deferred maintenance to meet current standards.
Compared to the nearby listings
Price:$1.25M vs avg $1.05M (+$199,000)73%
Size:1,981 sqft vs avg 2,688 sqft27%
Price/sqft:$630 vs avg $48882%
More Insights
Built in 1953 (72 years old).
Condition: Built in 1953, this property is 71 years old with no visible evidence of major recent renovations. The exterior appears aged and worn, and the presence of a window AC unit suggests outdated cooling systems. The lack of interior photos is a significant red flag, indicating that the internal condition, including kitchens and bathrooms, is likely very dated and in need of substantial rehabilitation. Its current use as a 'transitional living home' also implies heavy wear and tear. The property requires extensive repairs and system replacements to meet modern living standards.
Year Built
1953
Close
-
List price
$1.25M
Original List price
$1.25M
Price/Sqft
$630
HOA
-
Days on market
-
Sold On
-
MLS number
PW25174825
Home ConditionPoor
Features
View-
About this home
620 PACIFIC AVE. IS CURRENTLY RENTED AS A TRANSITIONAL LIVING HOME. ALL UNITS CAN BE DELIVERED VACANT. MIXED USE ZONING. FRONT UNIT COULD BE A COMMERICAL OFFICE.
Nearby schools
7/10
International Elementary School
Public,•K-5•0.1mi
5/10
Edison Elementary School
Public,•K-5•0.4mi
7/10
Stevenson Elementary School
Public,•K-5•0.6mi
6/10
Chavez Elementary School
Public,•K-5•0.7mi
7/10
Roosevelt Elementary School
Public,•K-5•0.9mi
7/10
Lincoln Elementary School
Public,•K-5•1.0mi
6/10
Washington Middle School
Public,•6-8•0.7mi
6/10
Franklin Classical Middle School
Public,•6-8•0.9mi
6/10
Polytechnic High School
Public,•9-12•1.0mi
3/10
Cabrillo High School
Public,•9-12•1.8mi
Price History
Date
Event
Price
06/07/04
Sold
$325,000
Condition Rating
Poor
Built in 1953, this property is 71 years old with no visible evidence of major recent renovations. The exterior appears aged and worn, and the presence of a window AC unit suggests outdated cooling systems. The lack of interior photos is a significant red flag, indicating that the internal condition, including kitchens and bathrooms, is likely very dated and in need of substantial rehabilitation. Its current use as a 'transitional living home' also implies heavy wear and tear. The property requires extensive repairs and system replacements to meet modern living standards.
Pros & Cons
Pros
Income-Generating Triplex: As a triplex, this property offers multiple income streams, providing a diversified and stable investment opportunity in a desirable urban market.
Flexible Mixed-Use Zoning: The mixed-use zoning allows for diverse applications, including the potential for a commercial office in the front unit, significantly enhancing its income potential and versatility.
Prime Downtown Long Beach Location: Situated in the vibrant Downtown Long Beach area, the property benefits from high demand, excellent walkability, and proximity to urban amenities, enhancing its long-term value.
Vacant Delivery for Immediate Flexibility: The ability to deliver all units vacant provides immediate flexibility for a new owner to either occupy, renovate, or re-tenant at current market rates without tenant relocation challenges.
Strategic Investment Potential: This property presents a strategic investment opportunity, combining residential income, commercial potential, and vacant delivery, appealing to various investor profiles seeking value-add or stable returns.
Cons
Age of Construction: Built in 1953, the property is an older structure, which may necessitate significant capital expenditures for system upgrades, modernization, or deferred maintenance to meet current standards.
Prior Use as Transitional Living Home: Its previous use as a transitional living home could imply increased wear and tear, potentially requiring more extensive renovation or specific remediation to prepare for new tenants or a different use.
Absence of Desirable Views: The property description indicates 'None' for views, which might limit its appeal to buyers seeking scenic outlooks, potentially impacting its premium value compared to properties with desirable vistas.