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Long Beach, CA 90802 420 Almond Avenue

$2,300,000

Pending
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Presented By: Robert Stepp with Keller Williams - Santa Monica; 310-463-2916
  • MLS# PW23227566
  • 01/09/2024
  • Request Tour
  • Request Info
  • BedBeds • 11
  • BathBaths • 3
  • FootageSQFT • 5,392
  • GarageGarage • 6

Home Details

420 Almond Avenue is a 9-unit apartment asset located in Long Beach, California. The property is offered at 11.90 GRM and 5.56% cap rate on current rents. The property is comprised of (7) 1BD / 1BA units and (2) 2BD / 2BA units. Six (6) garages offer the potential for ADU conversion. Eight of the nine units have been fully remodeled with recessed lighting, new flooring, new kitchen countertops, cabinetry, and stainless steel appliance, new bathrooms, and modern fixtures and features throughout. Renovated units offer in-unit washers and dryers. The property is located withing walking distance to popular 4th Street/Retro Row shopping and dining amenities.
Presented By: Robert Stepp with Keller Williams - Santa Monica; 310-463-2916

Interior Features for 420 Almond Avenue

Other Interior Features

Air Conditioning Y/NNo
Basement (Y/N)No
Common WallsItem2CommonWalls
Electric On Property Y/NNo
Fireplace Y/NNo
Heating Y/NNo
Laundry FeaturesInside
Street SuffixAvenue
Total Stories2

Other Rooms

Entry Level1

General for 420 Almond Avenue

Additional Parcels Y/NNo
Attached Garage No
Building Area UnitsSquareFeet
Cap Rate5.56
Carport Y/NNo
CityLong Beach
Community FeaturesSidewalks
CountyLos Angeles
Days on Market87
DirectionsE 4th St
Electric Expense1128.0
Entry Location1
Fuel Expense1128.0
Garage Spaces6.0
Garage Y/NYes
Gross Income187462.0
HOA / Comm AssnNo
Home Warranty Y/NNo
Insurance Expense5400.0
Land Lease Y/NNo
Lease Considered Y/NNo
Lease Renewal Y/NNo
LevelsTwo
Listing TermsCash, CashtoNewLoan, Item1031Exchange
Lot Size Square Feet6772.0
MLS Area4 - Downtown Area, Alamitos Beach
MaintenanceExpense6300.0
MobileHomeRemainsYNNo
Net Operating Income127807.0
New ConstructionNo
Open Parking Spaces0.0
Operating Expense59655.0
Pool FeaturesNone
Private PoolNo
Property Attached Y/NYes
Property Sub Type AdditionalMixedUse
Property SubTypeMixedUse
Property TypeResidentialIncome
Rent Control Y/NYes
Senior Community Y/NNo
SewerPublicSewer
Special Listing ConditionsStandard
Standard StatusPending
StatusPending
Stories2
Street NameAlmond
Subdivision NameAlamitos Beach (AB)
Tax Lot21
Taxes$28,570
Total Units9
Trash Expense1128.0
View Y/NNo
Water Sewer Expense1128.0
Waterfront Y/NNo
Year Built1972
Year Built SourceAssessor
ZoningLBR3T

Exterior for 420 Almond Avenue

Building Area Total5392.0
Crops Included Y/NNo
Horse Y/NNo
Irrigation Water Rights Y/NNo
Lot FeaturesItem610UnitsAcre
Lot Size Acres0.1555
Lot Size Area6772.0
Lot Size SourceAssessor
Lot Size UnitsSquareFeet
Number of Buildings1
Number of Separate Electric Meters9
Number of Separate Gas Meters9
Number of Separate Water Meters1
Open Parking Y/NNo
SpaNo
Total Parking6.0
Water SourcePublic

Additional Details

Price History

1527188455

First Team Client Services

Price $2,300,000
MLS#PW23227566
List Date 01/09/2024
Property Type Pending
Phone 714.964.3311
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CRMLS Compliance Statements & Disclaimers

*According to the National Association of Realtors