$1,690,000
$1,695,000
0.3%For more information regarding the value of a property, please contact us for a free consultation.
720 Belmont AVE Long Beach, CA 90804
Key Details
Sold Price $1,690,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Subdivision Belmont Heights (Bh)
MLS Listing ID PW18024544
Sold Date 05/10/18
HOA Y/N No
Year Built 1988
Property Description
We are proud to offer a “Turn Key” six-unit apartment in the heart of Belmont Heights in the city of Long Beach. The subject property is located at 720 Belmont Avenue, one street East of Termino Avenue, one block North of 7th Street. This investment consists of 3 one bedrooms/ one-bathroom units and 3 Junior one bedrooms/ one-bathroom well maintained units. Built in 1988, this property is a two-story walk up style building with private carports and approximately 3,559 rentable square feet. With condo style amenities such as fireplaces, dishwashers, vaulted ceilings, and small office/ dens each unit provides a living space that attracts a “professional” tenant base.
Located within close proximity to numerous restaurants and shopping corridors this property offers an investor the rare opportunity to acquire a “Turn Key” income property in a strong rental market in the most desirable community of Belmont Heights. With rents over 10% below market value, an investor looking to add value could dramatically improve their cash flow by bumping rents up to market rate thus making this acquisition a valuable addition to any investor’s portfolio.
Location
State CA
County Los Angeles
Area 2 - Belmont Heights, Alamitos Heights
Zoning LBCCA
Rooms
Ensuite Laundry Common Area
Interior
Laundry Location Common Area
Heating Wall Furnace
Fireplaces Type Den
Fireplace Yes
Laundry Common Area
Exterior
Garage Assigned
Carport Spaces 8
Pool None
Community Features Curbs, Storm Drain(s), Street Lights, Sidewalks
Utilities Available Cable Available
Parking Type Assigned
Total Parking Spaces 8
Private Pool No
Building
Lot Description 6-10 Units/Acre
Story 1
Entry Level One
Sewer Public Sewer
Water Public
Level or Stories One
New Construction No
Others
Senior Community No
Tax ID 7254021026
Acceptable Financing 1031 Exchange
Listing Terms 1031 Exchange
Financing Cash
Special Listing Condition Standard
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Bought with David Popelka • C-21 Amber Realty