
Long Beach, California 90815
This property presents a High-Potential Investment Opportunity with a List Price of $420,000—positioned well below the $429,321 Fair Market Value by 2%. This valuation gap offers $9,321 in Instant Equity for buyers willing to execute a renovation plan. With a Condition Rating of 5, the unit requires a full interior modernization to reach its potential. Located in the resort-style Lakes community, this is a value-add acquisition ideal for Buy-and-Hold Investors or first-time buyers seeking to build equity through sweat equity.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 7890 E Spring Street Subject 2 bd · 2 ba · 1,101 sqft · $390 | $420,000* List Price | 2 | 2 | 1,101 | $390 | - |
A 7890 17 P E Spring Street 17p Active 1 bd · 1 ba · 952 sqft · $451 · 0.0 mi | $429,750 List Price | 1 | 1 | 952 | $451 | 0.0 mi |
* Subject property listed price vs sold prices of comps.
Property is extensive renovation needed.
Built in 1973 and appears to be in mostly original condition. The kitchen features dated 70s-style cabinetry, fluorescent light boxes, and old linoleum flooring. The interior shows significant wear with heavily stained/soiled carpeting, popcorn ceilings, and dated wall-mounted HVAC units. The listing description explicitly states it is 'ready for your vision,' indicating a need for a full rehab.
The Lakes offers a lush, gated environment featuring man-made ponds, streams, a pool, spa, tennis courts, and a fitness center, providing a comprehensive lifestyle package.
Priced competitively to reflect its original condition, this unit presents a rare opportunity for buyers to renovate and build immediate sweat equity in a highly desirable area.
Ideally situated near El Dorado Park with serene water views, the property combines a tranquil retreat setting with convenient access to shopping, dining, and major freeways.
Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =521322, other record lot size in square feet = 521207. Living area discrepancy between mls listing and other public or private record. mls listing living area = 1101, other record living area = 171.
The monthly HOA fee of $914.39 is substantial, which may impact buyer affordability and significantly increase the total monthly carrying costs.
The property is being sold in a condition that requires design updates and repairs, necessitating additional upfront capital and effort from the buyer to make it move-in ready.
Welcome to El Dorado Lakes, a lush, gated lakeside community in East Long Beach. This is a rare chance to get into one of the area's most beloved condo communities at a price that leaves room to make it your own. This 2-bedroom, 2-bath condo is priced to sell and ready for your vision. Bring your design ideas and build instant equity in a community that consistently draws buyers back again and again. El Dorado Lakes is known for its resort-style setting built around a series of man-made ponds and streams, home to resident ducks, geese, koi, and turtles. Community amenities include a pool and spa, tennis courts, a clubhouse, a fitness room, a sauna, and gated/controlled access, and on-site laundry facilities add everyday convenience. Ideally located near El Dorado Park, shopping, dining, and easy freeway access, this is a fantastic opportunity for a buyer looking to create a serene, water-view retreat in one of Long Beach's most unique condo communities. Don't miss this value-priced opportunity in El Dorado Lakes!
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 2.0 | 2.0 |
| Baths | 2.0 | 2.0 |
| Square foot | 1,101 | 951.448 |
| Lot Size | 521,322 | 30,308.782 |
| Price | $420.0K | $526.5K |
| Price per sq ft | $381 | $562 |
| Built year | 1973 | 1975 |
| HOA | $914.39 | $472 |
| Days on market | 10 | 71 |
Oct 15, 2026
$420,000
Initial Listing
Feb 17, 2005
$344,000
Public Record