764 Terraine Avenue, Long Beach, California 90804, Long Beach, 90804 - 5 bed, 3 bath
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764 Terraine Avenue
Long Beach, California 90804
ACTIVE
CONDITION: FAIR
5Beds
3Baths
2,914Sq Ft
6,513Lot Size
Property Price
LIST PRICE$1,600,000
SUMMARY
Analysis of 764 Terraine Avenue, Long Beach, California 90804 is currently available with a list price of $1,600,000. The property maintains a Fair Condition Rating (50/100), suggesting the property is in acceptable condition with potential for value enhancement through selective updates and improvements. Located in a high-demand neighborhood within the Long Beach Unified School District, this asset is categorized as a low-risk, high-reward acquisition suitable for both Buy-and-Hold Investors and Owner-Occupants willing to undertake light renovation work.
Condition Analysis
See Full ReportOVERALL CONDITION SCORE
Fair
TeardownExcellent
Property is moderate renovation needed.
Built in 1937, this triplex is functional and occupied but shows significant dating. While some flooring has been updated to laminate, the property relies on older wall heaters and window AC units rather than modern central HVAC. The presence of older carpeting, vintage fixtures, and dated windows suggests the interiors and systems are well beyond 20 years old, requiring cosmetic and system updates to meet modern standards.
PROSSTRENGTHS & OPPORTUNITIES
- Rare Investment Opportunity
Situated in the prestigious Alamitos Heights neighborhood, which is predominantly comprised of single-family homes, this 'unicorn' triplex offers a rare multi-family entry into a high-demand, low-inventory area.
- Favorable Utility Configuration
The property features separate gas and electric meters for all three units, significantly reducing owner operating expenses and simplifying utility management for tenants.
- Versatile Income Potential
With a mix of two spacious 2-bedroom units and one 1-bedroom unit, the property is perfectly suited for either a 'house-hack' owner-occupant or a seasoned investor looking for a high-yield portfolio addition.
CONSRISKS & DEFICIENCIES
- Tenant Occupancy Constraints
All units are currently occupied, which may limit immediate access for inspections and presents challenges for buyers seeking immediate owner-occupancy or market-rate rent adjustments.
- Vintage Infrastructure
Built in 1937, the property may require significant capital expenditures for updates to aging systems, plumbing, or electrical components to meet modern standards.
About 764 Terraine Avenue
Truly a one-of-a-kind "unicorn" property! Tucked away in the highly sought-after neighborhood of Alamitos Heights—an area almost exclusively made up of single-family homes—lies a rare residential income gem. Whether you’re looking to house-hack by living in one unit and renting out the other two, or aiming to add a high-demand income producer to your portfolio, the potential here is endless. Enjoy the quiet charm of a premier Long Beach neighborhood while capitalizing on a multi-family investment that virtually never hits this market! The triplex features two spacious 2-bedroom/1-bathroom units (upper and lower, each with in-unit laundry) plus a separate 1-bedroom/1-bathroom upper unit. Gas and electric are separately metered for all three residences. Outside, enjoy a lovely shared backyard and private patio space. Addresses include 764, 766, and 770 Terraine. All units are currently occupied -- PLEASE DO NOT DISTURB OCCUPANTS!
Property Details
Public Facts
- Property Type
- Triplex
- Year Built
- 1937
- Lot Size
- 6,513 Sq. Ft.
Interior
- Total Bedrooms
- 5
- Total Bathrooms
- 3 (3 Full, 0 Half)
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $0 / Month
Neighborhood Insights
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 5.0 | 4.9 |
| Baths | 3.0 | 4.4 |
| Square foot | 2,914 | 2,300.724 |
| Lot Size | 6,513 | 5,277.379 |
| Price | $1.60M | $1.24M |
| Price per sq ft | $549 | $513 |
| Built year | 1937 | 1949 |
| HOA | $0 | $0 |
| Days on market | 49 | 74 |
Pricing History
Listed for Sale
Jul 22, 2026
$1,600,000
Initial Listing