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Long Beach, CA 90803 245 Temple Avenue

$3,295,000

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Presented By: Mark Bridge with Mark Bridge, Broker; Mark.Bridge@cushwake.com
  • MLS# OC24085405
  • 05/03/2024
  • Request Tour
  • Request Info
  • BedBeds • 12
  • BathBaths • 4
  • FootageSQFT • 6,077
  • GarageGarage • 4

Home Details

First time on the market since 1973, these 8 garden-style two-story walkup apartment units are located in the highly desirable area of Bluff Heights at 245 Temple Avenue in Long Beach, California. This asset is situated adjacent to 2nd Street near shopping, restaurants, entertainment & excellent employment opportunities. 245 Temple Avenue offers the rare opportunity to acquire an asset with an attractive current cap rate that still provides substantial value-add through the completion of an interior renovation and realistic rental upside. The property has a Walk Score of 92 and a Bike Score of 90 making it a walker’s and Biker’s Paradise.
Presented By: Mark Bridge with Mark Bridge, Broker; Mark.Bridge@cushwake.com

Interior Features for 245 Temple Avenue

Other Interior Features

Air Conditioning Y/NNo
Basement (Y/N)No
Common WallsItem1CommonWall
Electric On Property Y/NNo
Fireplace Y/NNo
FlooringVinyl
Heating Y/NYes
Laundry FeaturesCommonArea
Street SuffixAvenue
Total Stories2

Other Rooms

Entry Level1

General for 245 Temple Avenue

Additional Parcels Y/NNo
AppliancesDisposal, GasRange, WaterHeater
Attached Garage No
Building Area UnitsSquareFeet
Cap Rate4.5
Carport Y/NNo
CityLong Beach
Community FeaturesCurbs, StormDrains, StreetLights, Suburban, Sidewalks
CountyLos Angeles
Current FinancingNone
Days on Market
DirectionsHead E on East Broadway and take a right onto Temple Ave. Property will be on your left.
Electric Expense1483.0
Entry LocationFirst
Fuel Expense1000.0
Garage Spaces4.0
Garage Y/NYes
Gross Income212244.0
HOA / Comm AssnNo
HeatingWallFurnace
Home Warranty Y/NNo
Insurance Expense5400.0
Land Lease Y/NNo
Lease Considered Y/NNo
Lease Renewal Y/NNo
LevelsTwo
Listing TermsCash, CashtoNewLoan
Lot Size Square Feet9583.2
MLS Area2 - Belmont Heights, Alamitos Heights
MaintenanceExpense4000.0
MobileHomeRemainsYNNo
Net Operating Income148686.0
New ConstructionNo
Number of Units Leased8
Open Parking Spaces8.0
Operating Expense57272.0
Pool FeaturesNone
PossessionCloseOfEscrow
Private PoolNo
Property Attached Y/NYes
Property Sub Type AdditionalMixedUse
Property SubTypeMixedUse
Property TypeResidentialIncome
Rent Control Y/NNo
RoofShingle
Senior Community Y/NNo
SewerPublicSewer
Spa FeaturesNone
Special Listing ConditionsStandard
Standard StatusActive
StatusActive
Stories2
Street NameTemple
Subdivision NameBluff Park (BLF)
Tax Lot7263
Taxes$35,989
Tenant PaysElectricity, Gas
Total Actual Rent209544.0
Total Units8
Trash Expense1380.0
UtilitiesCableConnected, ElectricityConnected, NaturalGasConnected, PhoneConnected, SewerConnected, WaterConnected
ViewNone
View Y/NNo
Water Sewer Expense2000.0
Waterfront Y/NNo
Year Built1973
Year Built SourceAssessor
ZoningLBR2A

Exterior for 245 Temple Avenue

Building Area Total6077.0
Crops Included Y/NNo
Horse Y/NNo
Irrigation Water Rights Y/NNo
Lot FeaturesItem610UnitsAcre
Lot Size Acres0.22
Lot Size Area0.22
Lot Size SourceAssessor
Lot Size UnitsAcres
Number of Buildings1
Number of Separate Electric Meters9
Number of Separate Gas Meters9
Number of Separate Water Meters1
Open Parking Y/NNo
Parking FeaturesAssigned, Garage
SpaNo
Total Parking12.0
Water SourcePublic

Additional Details

Price History

1527188455

First Team Client Services

Price $3,295,000
MLS#OC24085405
List Date 05/03/2024
Property Type Multi-Family
Phone 714.964.3311
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*According to the National Association of Realtors