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$5,000,000
Est. payment /mo
6,751 Sqft Lot
UPDATED:
12/19/2024 05:48 AM
Key Details
Property Type Multi-Family
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
MLS Listing ID PW24250197
HOA Y/N No
Year Built 1948
Lot Size 6,751 Sqft
Property Description
305 Coronado Avenue is a 16-unit apartment building in the highly desirable Bluff Heights neighborhood of Long Beach, California. The building is a charming 1948 construction with a mix of eight studio and eight one-bedroom units, many of which have been remodeled. Unit interiors boast refinished hardwood flooring, modernized kitchens and baths. The property also offers private patios, on-site laundry, and storage options.
305 Coronado Avenue is in a great rental location steps to an elementary school, within easy walking distance of popular restaurants along Broadway, a half-mile to Bluff Park and the beach, and proximate to Second Street dining, retail and entertainment.
The property boasts strong in-place rents with four percent potential upside, and furthermore, a RUBS program significantly recoups utility expenses. 305 Coronado Avenue is an excellent acquisition opportunity for any investor looking for strong in-place cash flow and great location in a desirable coastal rental market.
305 Coronado Avenue is in a great rental location steps to an elementary school, within easy walking distance of popular restaurants along Broadway, a half-mile to Bluff Park and the beach, and proximate to Second Street dining, retail and entertainment.
The property boasts strong in-place rents with four percent potential upside, and furthermore, a RUBS program significantly recoups utility expenses. 305 Coronado Avenue is an excellent acquisition opportunity for any investor looking for strong in-place cash flow and great location in a desirable coastal rental market.
Location
State CA
County Los Angeles
Area 2 - Belmont Heights, Alamitos Heights
Zoning LBR2A
Interior
Fireplace No
Laundry Common Area
Exterior
Pool None
Community Features Suburban
Private Pool No
Building
Lot Description Rectangular Lot
Story 2
Sewer Public Sewer
Water Public
New Construction No
Others
Senior Community No
Tax ID 7257020023
Acceptable Financing Cash, Cash to New Loan
Listing Terms Cash, Cash to New Loan
Special Listing Condition Standard
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Listed by Steven Bogoyevac • Steven M. Bogoyevac, Broker • steve.bogoyevac@marcusmillichap.com