735 Locust Avenue, Long Beach, California 90813, Long Beach, 90813 - bed, bath
ACTIVE$1,627,000
735 Locust Avenue, Long Beach, California 90813
0Bed
0Bath
5,308Sqft
7,555Lot
Year Built
1919
Close
-
List price
$1.63M
Original List price
$1.63M
Price/Sqft
$307
HOA
-
Days on market
-
Sold On
-
MLS number
IV25058529
Home ConditionPoor
Features
Patio
View-
About this home
We found 3 Cons,5 Pros. Rank: price - $1.63M(92th), sqft - 5308(92th), beds - undefined(50th), baths - undefined(50th).
Location! Location! Location! Great property with great upside potentials! One miles from Long Beach ShoreLine Aquatic Park, Aquarium of the Pacific. Steps from Oropeza Elementary School, City Place Shopping Center, restaurants and metro station. All four units are two bedrooms with two baths.
Price History
Date
Event
Price
04/28/23
Sold
$1,300,000
Condition Rating
Poor
Built in 1919, this property is over a century old. The images reveal a highly dated kitchen with old-style cabinets, laminate countertops, and appliances that appear to be 15-20+ years old. Visible flooring is worn, and light fixtures are basic. The property analysis explicitly notes 'aging infrastructure' and 'implied renovation/investment needs,' indicating that major systems (plumbing, electrical, HVAC) likely require substantial upgrades. While not a tear-down, the property requires significant repairs and rehabilitation to address its outdated components and bring it to modern living standards.
Pros & Cons
Pros
Exceptional Location: Strategically located within one mile of Long Beach ShoreLine Aquatic Park and Aquarium of the Pacific, and steps from City Place Shopping Center, diverse restaurants, and a metro station, offering unparalleled convenience and tenant appeal.
Income-Generating Quadruplex: As a quadruplex, the property provides a robust residential income stream with diversified rental units, making it an attractive investment opportunity.
Optimal Unit Configuration: All four units feature a desirable 2-bedroom, 2-bathroom layout, catering to a broad tenant base and maximizing rental income potential.
Significant Upside Potential: The property is explicitly noted for its 'great upside potentials,' indicating opportunities for value appreciation through rent optimization, strategic renovations, or market growth.
Family-Friendly Proximity: Its immediate proximity to Oropeza Elementary School enhances its appeal to families, potentially ensuring consistent rental demand.
Cons
Historic Property Age: Built in 1919, the property is over a century old, which may necessitate significant capital expenditures for updating or maintaining aging infrastructure (e.g., plumbing, electrical, roof).
Implied Renovation/Investment Needs: The 'upside potentials' suggest that the property may require immediate or future investment to achieve its full market value or optimize rental income, adding to initial acquisition costs.
Potential for Higher Operating Costs: Older multi-unit properties often incur higher ongoing maintenance and repair expenses compared to newer constructions, potentially impacting net operating income and cash flow.