775 Los Altos Avenue, Long Beach, California 90804, Long Beach, 90804 - 3 bed, 3 bath

775 Los Altos Avenue, Long Beach, California 90804 home-pic-0
ACTIVE$1,650,000
775 Los Altos Avenue, Long Beach, California 90804
3Beds
3Baths
1,745Sqft
6,473Lot

Price Vs. Estimate

The estimated value ($1,189,702.485) is $460,297.515 (27%) lower than the list price ($1,650,000). This property may be overpriced.

Key pros and cons

Top Pros:
Extensive Recent System Upgrades: The property boasts significant recent upgrades including HVAC and electrical panel replacement in 2023, main sewer lining in 2021, a whole-home water softening system, and ADT security cameras, minimizing immediate maintenance concerns for a buyer.
Top Cons:
Significant Overpricing vs. Market Estimation: The current list price of $1.65M is substantially higher than the property's estimated value of approximately $1.19M, which may lead to buyer hesitation and extended market time.

Compared to the nearby listings

Price:$1.65M vs avg $832.5K (+$817,550)97%
Size:1,745 sqft vs avg 1,101.5 sqft90%
Price/sqft:$946 vs avg $85373%

More Insights

Built in 1955 (70 years old).
Condition: Despite being built in 1955, this property has undergone extensive and recent modern luxury renovations. The HVAC and electrical panel were replaced in 2023, and the main sewer was lined in 2021, indicating significant investment in major systems. The kitchen features modern stainless steel appliances, sleek dark cabinetry, light countertops, and contemporary lighting. Bathrooms are also fully updated with modern vanities, fixtures, and glass-enclosed showers. The overall aesthetic is clean, stylish, and move-in ready with no deferred maintenance, aligning perfectly with the 'Excellent' criteria for properties extensively renovated within the last 5 years.
Year Built
1955
Close
-
List price
$1.65M
Original List price
$1.68M
Price/Sqft
$946
HOA
-
Days on market
-
Sold On
-
MLS number
PW25088346
Home ConditionExcellent
Features
Patio
ViewNeighborhood

About this home

Welcome to Alamitos Heights! This mid-century modern home features 3-bedrooms, 2-full baths, an office, a bonus room and a half-bath in the detached laundry room as well as a 2-car garage and an additional carport. The home has been updated with modern luxury but has maintained it's mid-century feel. The front yard features a mature olive tree, deck and matching perimeter fence along with lush landscaping, a rock water feature and modern lighting. The home has an open-floor plan that seamlessly flows from the kitchen to the living area to an al fresco dining area and into a beautifully updated back-yard space. The HVAC and electrical panel was replaced in 2023 and the main sewer was lined in 2021. The home also has a whole-home water softening system and ADT security cameras around the exterior perimeter of the property. For those interested in future development or additional income, the bonus room can be converted to a JADU as it's part of the existing square-footage. Don't miss out. The property is owned by the listing agent.

Price History

Date
Event
Price
02/18/21
Sold
$1,232,500
03/20/08
Sold
$810,000
Condition Rating
Excellent

Despite being built in 1955, this property has undergone extensive and recent modern luxury renovations. The HVAC and electrical panel were replaced in 2023, and the main sewer was lined in 2021, indicating significant investment in major systems. The kitchen features modern stainless steel appliances, sleek dark cabinetry, light countertops, and contemporary lighting. Bathrooms are also fully updated with modern vanities, fixtures, and glass-enclosed showers. The overall aesthetic is clean, stylish, and move-in ready with no deferred maintenance, aligning perfectly with the 'Excellent' criteria for properties extensively renovated within the last 5 years.
Pros & Cons

Pros

Extensive Recent System Upgrades: The property boasts significant recent upgrades including HVAC and electrical panel replacement in 2023, main sewer lining in 2021, a whole-home water softening system, and ADT security cameras, minimizing immediate maintenance concerns for a buyer.
ADU/JADU Potential: The bonus room can be converted into a Junior Accessory Dwelling Unit (JADU), offering excellent potential for rental income, multi-generational living, or flexible use space.
Desirable Neighborhood: Located in the sought-after Alamitos Heights subdivision, known for its appeal and community, enhancing the property's long-term value and desirability.
Modernized Mid-Century Aesthetic: The home has been updated with modern luxury while retaining its original mid-century feel, appealing to buyers who appreciate classic architectural style with contemporary comforts.
Enhanced Indoor-Outdoor Living: An open-floor plan seamlessly connects to an al fresco dining area and a beautifully updated backyard, complemented by lush front yard landscaping, a mature olive tree, and a rock water feature, creating an inviting environment.

Cons

Significant Overpricing vs. Market Estimation: The current list price of $1.65M is substantially higher than the property's estimated value of approximately $1.19M, which may lead to buyer hesitation and extended market time.
Recent Price Reduction & Comparative Value: A recent price reduction from $1.675M to $1.65M, coupled with a highly comparable, extensively remodeled property nearby (745 Havana Ave) listed at a slightly lower price ($1.599M), suggests the property may still be priced aggressively relative to market expectations and direct competition.
Agent-Owned Property: The fact that the property is owned by the listing agent can sometimes raise questions for potential buyers regarding transparency or negotiation flexibility, potentially complicating the sales process.

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