831 Alamitos Avenue 3, Long Beach, California 90813, Long Beach, 90813 - bed, bath
ACTIVE$1,100,000
831 Alamitos Avenue 3, Long Beach, California 90813
0Bed
0Bath
3,225Sqft
5,606Lot
Price Vs. Estimate
Estimation data not available
Key pros and cons
Top Pros:
Income Potential & No Rent Control: As a triplex property with no rent control, it offers excellent potential for rental income and flexibility in adjusting rents to market rates, a significant advantage in California.
Top Cons:
Age of Primary Structure: The front house, built in 1916, may have aging foundational systems (e.g., plumbing, electrical) that could require significant future upgrades or maintenance beyond the recently replaced roof.
Compared to the nearby listings
Price:$1.10M vs avg $850.0K (+$250,000)85%
Size:3,225 sqft vs avg 2,366 sqft85%
Price/sqft:$341 vs avg $34738%
More Insights
Built in 1916 (109 years old).
Condition: This triplex, with units built in 1916 and 1991, is functional and appears maintained, but its interiors are significantly outdated. The kitchens feature older dark wood or white cabinets, laminate countertops, and basic light fixtures, while bathrooms have dated tile and vanities. Heating/cooling relies on older wall units, and flooring is a mix of basic tile and wood-look laminate. While the 1916 unit's roof was recently replaced, the overall aesthetic and features across all units are 20-30+ years old, requiring substantial cosmetic updates to meet current market expectations.
Year Built
1916
Close
-
List price
$1.1M
Original List price
$1.1M
Price/Sqft
$341
HOA
-
Days on market
-
Sold On
-
MLS number
PW25153278
Home ConditionFair
Features
Deck
Patio
View-
About this home
Well kept Triplex property accessible to street 7 blocks away to the beach, Convention Center, Grand prix racing track, LB Aquarium, Queen Mary and Shoreline. No rent control good potential for rental market . It features 3 bedrooms 2 bathrooms the front house built 1916 roof replaced last year, two units has 2 bedrooms 1 1/2 bathroom built 1991 with private balcony each. Parking spaces is above the duplex that can fit 6 cars.
Price History
Date
Event
Price
08/24/18
Sold
$860,000
Condition Rating
Fair
This triplex, with units built in 1916 and 1991, is functional and appears maintained, but its interiors are significantly outdated. The kitchens feature older dark wood or white cabinets, laminate countertops, and basic light fixtures, while bathrooms have dated tile and vanities. Heating/cooling relies on older wall units, and flooring is a mix of basic tile and wood-look laminate. While the 1916 unit's roof was recently replaced, the overall aesthetic and features across all units are 20-30+ years old, requiring substantial cosmetic updates to meet current market expectations.
Pros & Cons
Pros
Income Potential & No Rent Control: As a triplex property with no rent control, it offers excellent potential for rental income and flexibility in adjusting rents to market rates, a significant advantage in California.
Prime Downtown Long Beach Location: Situated just 7 blocks from the beach and close to major attractions like the Convention Center, Grand Prix track, Aquarium, Queen Mary, and Shoreline, enhancing its desirability for tenants and potential for appreciation.
Ample Off-Street Parking: The property provides parking spaces for up to 6 cars, a highly valuable amenity in a dense urban and coastal area like Downtown Long Beach.
Recent Major Capital Improvement: The roof of the 1916 front house was replaced last year, indicating proactive maintenance and reducing immediate capital expenditure concerns for a major component.
Mixed-Age Units with Modern Features: Two of the three units were built in 1991 and feature private balconies, offering more modern living spaces that can appeal to a broader range of renters compared to solely older construction.
Cons
Age of Primary Structure: The front house, built in 1916, may have aging foundational systems (e.g., plumbing, electrical) that could require significant future upgrades or maintenance beyond the recently replaced roof.
Potential for Discrepant Unit Conditions: With units built in 1916 and 1991, there could be substantial variations in interior finishes, amenities, and overall condition across the property, potentially requiring staggered investment for modernization.
Aggressive Pricing Relative to Last Sale: The current list price of $1.1 million is a notable increase from its 2018 sale price of $860,000, which may require strong justification through recent comparable sales to potential buyers.