$1,685,000
$1,715,000
1.7%For more information regarding the value of a property, please contact us for a free consultation.
5,354 SqFt
SOLD DATE : 09/26/2024
Key Details
Sold Price $1,685,000
Property Type Condo
Sub Type Apartment
Listing Status Sold
Purchase Type For Sale
Square Footage 5,354 sqft
Price per Sqft $314
Subdivision North Long Beach (Nlb)
MLS Listing ID PW24105603
Sold Date 09/26/24
HOA Y/N No
Year Built 1960
Annual Tax Amount $22,397
Lot Size 5,662 Sqft
Property Description
Pleased to present 6508 Orange Avenue, a secure 8-unit apartment building in the heart of vibrant Long Beach, California. Built in 1960, the property consists exclusively of two-bedroom/one-bathroom units. For added comfort and convenience, the property features an on-site laundry facility as well as (4) off-street parking spaces for tenants to use. This apartment building offers residents easy access to an array of local amenities including shopping centers, restaurants, entertainment venues, and recreational parks. With convenient access to major transportation routes, commuting to other parts of the city is effortless.
Priced at $214,375/unit for this unit mix, this property is one of the more affordable deals on the market. Further, through modernization of the units and increases on current rent levels that are projected to be 53% below market, this property offers phenomenal value appreciation and exceptional future cash-on-cash returns.
Location
State CA
County Los Angeles
Area 7 - North Long Beach
Zoning LBR4N
Rooms
Ensuite Laundry Common Area
Interior
Laundry Location Common Area
Fireplace No
Laundry Common Area
Exterior
Garage Assigned
Pool None
Community Features Curbs, Gutter(s), Sidewalks
Parking Type Assigned
Total Parking Spaces 4
Private Pool No
Building
Lot Description Rectangular Lot
Story 2
Entry Level Two
Sewer Public Sewer
Water Public
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 7114013044
Energy Description 2685.0
Acceptable Financing Conventional, 1031 Exchange, Submit
Listing Terms Conventional, 1031 Exchange, Submit
Financing Conventional
Special Listing Condition Standard
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Bought with Sam Sidhu • Rockview Inc.
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "