75 Granada, Long Beach, California 90803, Long Beach, 90803 - bed, 4 bath
ACTIVE$1,299,000
75 Granada, Long Beach, California 90803
0Bed
4Baths
1,349Sqft
2,239Lot
Price Vs. Estimate
Estimation data not available
Key pros and cons
Top Pros:
Great Schools: Elementary School: Naples Elementary School (10/10).
Top Cons:
Property Age & Potential Maintenance: Built in 1951, the property may require significant capital expenditures for system upgrades, renovations, or deferred maintenance to maximize its potential.
Compared to the nearby listings
Price:$1.30M vs avg $1.82M ($-526,000)9%
Size:1,349 sqft vs avg 2,745 sqft9%
Price/sqft:$963 vs avg $73682%
More Insights
Built in 1951 (74 years old).
Condition: Built in 1951, this property is 73 years old with no indication of recent major renovations. The exterior appears dated, and the absence of interior photos for the kitchen and bathrooms strongly suggests these areas are significantly outdated and likely require substantial repairs and rehabilitation. The listing's own analysis highlights 'Property Age & Potential Maintenance' and the need for 'significant capital expenditures for system upgrades, renovations, or deferred maintenance,' aligning with the criteria for a 'poor' condition score.
Year Built
1951
Close
-
List price
$1.3M
Original List price
$1.3M
Price/Sqft
$963
HOA
-
Days on market
-
Sold On
-
MLS number
PW25240839
Home ConditionPoor
Features
View-
About this home
Welcome to 75 Granada Avenue, an exceptional opportunity to own income property in one of Long Beach’s most sought-after coastal neighborhoods — Belmont Shore. Listed at $1,299,000, this is the lowest-priced 4-unit property to hit the market in Belmont Shore in the last five years. Located less than one block from the beach, this charming fourplex features (4) studio apartments, each commanding strong rents of $1,800 per month. There is also one parking space that generates an additional $75 per month and a community laundry room. The property offers stable cash flow today with excellent upside potential through improved operations or short-/mid-term rental strategies (buyer to verify).
Nearby schools
9/10
Lowell Elementary School
Public,•K-5•0.6mi
10/10
Naples Elementary School
Public,•K-5•0.6mi
7/10
Rogers Middle School
Public,•6-8•0.7mi
6/10
Wilson High School
Public,•9-12•1.5mi
Price History
Date
Event
Price
08/31/00
Sold
$335,000
07/19/04
Sold
$590,000
Condition Rating
Poor
Built in 1951, this property is 73 years old with no indication of recent major renovations. The exterior appears dated, and the absence of interior photos for the kitchen and bathrooms strongly suggests these areas are significantly outdated and likely require substantial repairs and rehabilitation. The listing's own analysis highlights 'Property Age & Potential Maintenance' and the need for 'significant capital expenditures for system upgrades, renovations, or deferred maintenance,' aligning with the criteria for a 'poor' condition score.
Pros & Cons
Pros
Great Schools: Elementary School: Naples Elementary School (10/10).
Exceptional Coastal Location: Situated less than one block from the beach in the highly desirable Belmont Shore neighborhood, offering premium lifestyle appeal and strong rental demand.
Robust Income Generation: A fourplex with four studio units currently commanding strong rents of $1,800/month each, plus additional parking income, ensuring stable cash flow.
Significant Value Proposition: Listed as the lowest-priced 4-unit property in Belmont Shore in the last five years, presenting a rare and competitive investment opportunity.
Strong Upside Potential: Opportunities exist to enhance revenue through improved operations or by leveraging short-term/mid-term rental strategies in a high-demand area.
Multi-Unit Investment: Provides diversification and consistent rental income from multiple tenants, a key advantage for real estate investors.
Cons
Property Age & Potential Maintenance: Built in 1951, the property may require significant capital expenditures for system upgrades, renovations, or deferred maintenance to maximize its potential.
Inadequate Parking: Only one parking space is available for a four-unit property, which is a major drawback for tenants in a dense coastal area and could impact occupancy or tenant satisfaction.
Limited Unit Configuration: Consisting solely of studio apartments, this limits the tenant pool and may restrict the property's ability to achieve higher per-unit rents compared to properties with larger unit types.