This building, built in 1964 is located in a great Eastside area of Long Beach. Strong renal demand. The building consists of two 1 bdrm/1 bath, four 2 bdrm/1 bath, one 2 bdrm/2 bath, and one 3 bdrm/2 bath units. Current rent is $15,940 (including $425 for garages and parking place). That is a GRM of 11.8 x Actual rents. With delivered rent increases starting 8/1/24 and 9/1/24, scheduled rents will increase to $15,940 per month. This will decrease the GRM to 11.3 x Actual. Market rents are $18,590 per month. This would decrease the GRM to 10.0 x Market Rents.
******PLEASE NOTE! WE BELIEVE THIS IS A PERFECT BUILDING TO ADD TWO TO THREE ADU's! CHECK WITH YOUR CONTRACTOR.*******
*****NOTE-ADDRESS ON BUILDING IS 759 FREEMAN AVE.*******
Sold for $2,175,000
Zillow last checked:
Listing updated:
Bought with:
Kyle Blair, DRE #02091539
NONMEMBER MRML
Source: CRMLS,MLS#: PW24144969
Originating MLS: California Regional MLS
Originating MLS: California Regional MLSPrice history
| Date | Event | Price |
|---|---|---|
| 10/23/2024 | Sold | $2,175,000-3.3%$342/sqft |
Source:  CRMLS #PW24144969 Report a problem | ||
| 8/9/2024 | Pending sale | $2,250,000$354/sqft |
Source: CRMLS #PW24144969 Report a problem | ||
| 7/15/2024 | Listed for sale | $2,250,000$354/sqft |
Source: CRMLS #PW24144969 Report a problem | ||
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Estimated market value
$2,043,700
