6702 E El Progreso Street, Long Beach, California 90815, Long Beach, 90815 - 4 bed, 3 bath

6702 E El Progreso Street, Long Beach, California 90815 home-pic-0
ACTIVE$1,600,000
6702 E El Progreso Street, Long Beach, California 90815
4Beds
3Baths
2,309Sqft
7,215Lot

Price Vs. Estimate

The estimated value ($939,928.1) is $660,071.9 (41%) lower than the list price ($1,600,000). This property may be overpriced.

Key pros and cons

Top Pros:
New ADU with Income Potential: The brand new (September 2024) Accessory Dwelling Unit (ADU) adds 500 sq ft, offering significant value for rental income (up to $2,600 monthly), multi-generational living, or a dedicated home office/business space.
Top Cons:
Significant Overpricing: The listing price of $1.6 million is substantially higher than the estimated property value of $939,928.1, indicating a potential overvaluation that may challenge market acceptance.

Compared to the nearby listings

Price:$1.60M vs avg $1.12M (+$477,000)91%
Size:2,309 sqft vs avg 1,534.5 sqft85%
Price/sqft:$693 vs avg $71741%

More Insights

Built in 1952 (73 years old).
Condition: Despite being built in 1952, this property has undergone extensive and very recent renovations. The description highlights a 'BRAND NEW Accessory Dwelling Unit (ADU) built September 2024,' a 'large remodeled kitchen' with 'ALL NEW stainless-steel appliances,' 'renovated bathrooms with modern touches,' 'BRAND NEW waterproof vinyl plank flooring' in main areas, and a 'BRAND NEW HVAC and duct system.' These comprehensive updates bring the property to a virtually new standard, meeting current quality expectations with no deferred maintenance.
Year Built
1952
Close
-
List price
$1.6M
Original List price
$1.6M
Price/Sqft
$693
HOA
-
Days on market
-
Sold On
-
MLS number
PW25033639
Home ConditionExcellent
Features
Patio
View-

About this home

This 3 bd, 2 ba mid-century ranch home is located on a North-facing corner lot, within the Plaza community. This locale offers many amenities. You can enjoy weekends relaxing at El Dorado Park, biking/jogging on nearby paths, golfing, beach, shopping and so much more! You will be in awe as this home boasts many upgrades and attributes throughout its fantastic floorplan, that stand out from other homes. As you open the entry door and are welcomed into the foyer, you'll realize this is the ONE! Take steps into the large living room that features a wood-burning fireplace with a modern façade, original wood floors, and flooded with natural light. The large remodeled kitchen showcases a modern design of high gloss, white frameless, soft-close European style cabinets, deep stainless-steel sink, ALL NEW stainless-steel appliances, including a double oven with a convection oven, beautiful quartzite countertop that compliments well with the surrounding color palette. The dining area sits conveniently off the kitchen. The casual lounging area is open, airy, with lots of large double pane windows. It also provides direct entry into the two-car garage. Double sliding glass door allows great airflow and leads to a relaxing low maintenance backyard. Bathrooms within the main home have been renovated with the main bath containing a deep soaking tub. Both bathrooms have modern touches and black accents. Interior of home is freshly painted in a calming neutral color that will stand the test of time. The bedrooms are ready for your individual touches. Hallway and all bedrooms display original oak floors in a natural color, while the rest of the home features BRAND NEW waterproof vinyl plank flooring. The main home has been fully equipped with BRAND NEW HVAC and duct system. If you enjoy working on projects then, a permitted room sits alongside the garage as a workstation. Laundry is conveniently located in a private room that prevents noise interference.   BRAND NEW Accessory Dwelling Unit (ADU) built September 2024! Whether you are looking to have an extension to your main home, a home business/office, or rental unit, this offers great potential. The one bedroom, one bath ADU occupies additional 500 sq ft and exhibits details such as an impressive 14 ft ceiling, a sun tube, ALL NEW appliances in a full length kitchen, and an indoor laundry. Recent nearby comparable rentals are fetching up to $2,600 monthly, which is a great source of revenue to offset mortgage payments!

Price History

Date
Event
Price
08/29/97
Sold
$187,000
Condition Rating
Excellent

Despite being built in 1952, this property has undergone extensive and very recent renovations. The description highlights a 'BRAND NEW Accessory Dwelling Unit (ADU) built September 2024,' a 'large remodeled kitchen' with 'ALL NEW stainless-steel appliances,' 'renovated bathrooms with modern touches,' 'BRAND NEW waterproof vinyl plank flooring' in main areas, and a 'BRAND NEW HVAC and duct system.' These comprehensive updates bring the property to a virtually new standard, meeting current quality expectations with no deferred maintenance.
Pros & Cons

Pros

New ADU with Income Potential: The brand new (September 2024) Accessory Dwelling Unit (ADU) adds 500 sq ft, offering significant value for rental income (up to $2,600 monthly), multi-generational living, or a dedicated home office/business space.
Extensive Modern Renovations: The main home features a fully remodeled kitchen with new stainless-steel appliances, renovated bathrooms with modern touches, fresh interior paint, and new waterproof vinyl plank flooring, providing a move-in ready condition.
Updated Core Systems: The main home has been fully equipped with a BRAND NEW HVAC and duct system, ensuring modern climate control and energy efficiency.
Desirable Location & Amenities: Located on a North-facing corner lot within the sought-after Plaza community, offering proximity to El Dorado Park, biking/jogging paths, golfing, beaches, and shopping.
Functional & Versatile Spaces: The property includes a large living room with a fireplace, an open and airy casual lounging area, a private laundry room, and a permitted workstation alongside the garage, catering to diverse needs.

Cons

Significant Overpricing: The listing price of $1.6 million is substantially higher than the estimated property value of $939,928.1, indicating a potential overvaluation that may challenge market acceptance.
Age of Main Structure: Despite extensive renovations, the main home was built in 1952, which may raise concerns for some buyers regarding the age of underlying infrastructure not explicitly mentioned as replaced.
Limited Backyard Features: Described as a 'low maintenance backyard,' it may lack elaborate landscaping or recreational features that some buyers might expect from a property with a 7,215 sqft lot, potentially limiting its outdoor appeal.

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