Sold for $2,175,000

Listing Provided by: Belmont Brokerage & Mgmt. INC.

Bought with: NONMEMBER MRML

$2,175,000

757 Freeman Ave, Long Beach, CA 90804

15beds

10baths

6,355sqft

Multi Family

Built in 1964

-- sqft lot

$2,133,400 Zestimate^®

$342/sqft

$2,289 Estimated rent

Home value

$2,133,400

$1.88M - $2.45M

$2,289/mo

Zestimate^® history

Owner options

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$2,289/mo

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$2,289/mo

Rent Zestimate^®

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$14,099/mo

Est. payment

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$14,099/mo

Est. payment

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What's special

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.*******

Facts & features

Interior

Bedrooms & bathrooms

Bedrooms: 15
Bathrooms: 10

Appliances

Laundry: Common Area

Features

Common walls with other units/homes: No Common Walls

Interior area

Total structure area: 6,355
Total interior livable area: 6,355 sqft

Property

Parking

Total spaces: 5
Parking features: Assigned
Garage spaces: 4
Carport spaces: 1
Covered spaces: 5

Features

Levels: Two
Stories: 2
Entry location: Side Gate
Pool features: None
Fencing: Block
Has view: Yes
View description: None

Lot

Size: 6,754 sqft
Features: Level

Details

Parcel number: 7258019018
Zoning: LBR2N
Special conditions: Standard

Construction

Type & style

Home type: MultiFamily
Property subtype: Multi Family

Materials

Roof: Asphalt

Condition

New construction: No
Year built: 1964

Utilities & green energy

Sewer: Public Sewer
Water: Public
Utilities for property: Natural Gas Connected, Water Available

Community & neighborhood

Community

Community features: Street Lights, Suburban, Sidewalks

Location

Region: Long Beach
Subdivision: Eastside (Es)

Other

Other facts

Listing terms: Cash,Cash to New Loan

Price 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