660 Obispo Avenue, Long Beach, California 90814, Long Beach, 90814 - bed, bath
ACTIVE$1,550,000
660 Obispo Avenue, Long Beach, California 90814
0Bed
0Bath
4,158Sqft
6,753Lot
Year Built
1969
Close
-
List price
$1.55M
Original List price
$1.59M
Price/Sqft
$373
HOA
-
Days on market
-
Sold On
-
MLS number
PW25049121
Home ConditionFair
Features
ViewNeighborhood
About this home
We found 3 Cons,5 Pros. Rank: price - $1.55M(57th), sqft - 4158(71th), beds - undefined(50th), baths - undefined(50th).
Prime Investment Opportunity in Long Beach! This well-maintained fourplex at 660 Obispo Ave features a spacious 3-bed, 2-bath unit and three 2-bed, 1-bath units, offering excellent rental potential. The property includes a shared laundry room, five detached single-car garages, and an additional outdoor space with ADU potential (buyer to verify). Conveniently located near local shops, restaurants, CSULB, and the ocean, this is an ideal opportunity for investors or owner-occupants looking to generate income in a sought-after area.
Price History
Date
Event
Price
04/26/01
Sold
$480,000
02/08/99
Sold
$340,000
Condition Rating
Fair
Built in 1969, this property is 55 years old. While described as 'well-maintained,' the lack of interior photos, especially for kitchens and bathrooms, makes a detailed assessment challenging. Given its age, it's highly probable that the kitchens and bathrooms, along with other interior finishes and major systems, are significantly outdated in style and features, even if functional. The exterior appears maintained but dated. This aligns with the 'Fair' criteria, indicating an aged but maintained property where major components are functional but show signs of being outdated, and minor updates or repairs are likely required.
Pros & Cons
Pros
Strong Income Potential: As a fourplex with a desirable unit mix (one 3-bed, 2-bath and three 2-bed, 1-bath units), the property offers excellent rental income streams and diverse tenant appeal.
Value-Add ADU Potential: The additional outdoor space presents a significant opportunity for an Accessory Dwelling Unit (ADU), which could substantially increase rental income and overall property value.
Prime Long Beach Location: Conveniently located near local shops, restaurants, CSULB, and the ocean, this sought-after area ensures strong tenant demand and potential for appreciation.
Ample Detached Garages: The presence of five detached single-car garages provides valuable parking and storage solutions for tenants, enhancing the property's desirability and functionality.
On-Site Laundry Facility: A shared laundry room offers a convenient amenity for tenants, contributing to tenant satisfaction and potentially higher retention rates.
Cons
Property Age: Built in 1969, the property may require ongoing maintenance and potential future capital expenditures for aging systems such as plumbing, electrical, or HVAC, despite being described as 'well-maintained'.
ADU Potential Requires Verification & Investment: While a significant opportunity, the ADU potential is not guaranteed and requires the buyer's due diligence, permitting, and substantial financial investment to realize.
Standard Neighborhood View: The property offers a 'Neighborhood' view, which, while pleasant, lacks premium vistas (e.g., ocean, city skyline) that could otherwise command higher rental rates or property appreciation.