3850 Elm Avenue, Long Beach, CA 90807

$1,695,000
List Price
$1,695,000
Status
PENDING
MLS#
PW21255999
Year Built
1929
Lot Size
12,692
Acres
0.2914
Lot Location
Back Yard, Front Yard, Garden
Days on Market
364
Property Type
Multifamily
Neighborhood
Bixby Knolls (Bk)

Property Description

The subject property is located at the prime Bixby Knoll location in Long Beach. It is surrounded by million-dollar single family homes. The average household income exceeds $110,000 within one mile of the property. It is only minutes from the prestigious Virginia Country club, Steelcraft, Trader Joes and retail and restaurants. The triplex property is consisted of 3 Bedroom 2 Bath house in the front and a 2 Bedroom 1 Bath unit and a 1 Bedroom 1 Bath unit in the back. It is nicely layout with plenty of open spaces on a rare to find extra-large 12,692 sqft lot. Each unit has its own private yards. Due to the size of the land, an astute investor may find great value added opportunities through redevelopment or adding ADUs to the property(please check with the city). There are also tremendous upside in the rent and better management in expenses. The owner pays for the gas and water for the 2 Bedroom unit. The 1 Bedroom 1 Bath unit is an all electricity unit and the electricity is paid by the tenant. The 3 Bedroom 2 Bath room front house tenant also pay for its own utilities including water. There are 3 garage parking space and 1 open parking space. The property was built in 1929 with a few upgrades (electricity & plumbing) and additions throughout the year. Broker/Agent does not guarantee the accuracy of square footage, unit type, lot size, ordinances, zoning, permits, use code, concerning the conditions or features of the property provided by the seller or obtained from public records or other sources. Buyer is advised to independently verify the accuracy of all information.

Additional Information

Appliances
Electric Range, Gas Range
Pool Description
None
Heat
Wall Furnace
Roof
Flat
Garage Spaces Total
3
Sewer
Public Sewer
Water
Public
Attached Structure
Detached
Number Of Units Total
3
Gross Scheduled Income
$82,200
Operating Expense
33507

Mortgage Calculator

Amount of Loan
Annual Interest Rate
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Term of Loan
Years

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Please consult a financial professional.
Calculator source: Real Geeks

Listing courtesy of Listing Agent: Hiu Chan from Listing Office: Hiu Chan, Broker

Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.