Long Beach CA  home offered at $2,450,000 

Call Lisa DiNoto Group at (909)921-2544 to see this home.

 

781 Termino Avenue
Long Beach, California CA 90804-5334
Sold For: $2,440,000
Listing ID: SB22237755
Price/SqFt: $462.12
Status: Closed
Sold Date: 1/20/2023
SqFt: 5,280 Sq Ft
Acres: 0.147 Acres
Subdivision: Eastside (ES)
Year Built: 1929

Beautiful, huge Spanish style 6 unit property only steps from Belmont Heights! Extensively renovated property including water free turf landscaping, all new electrical mains and subpanels, new wiring and plumbing in front building, and new exterior paint. 4 enormous two bedroom, one bathroom units in front of over 1000 square feet each with open concept living rooms, dining areas, large kitchens, dishwashers, in unit laundry, and plenty of storage. Attractive central courtyard for shared outdoor space. 2 one bedroom, one bathroom units above 5 garages and laundry room at the rear of the property. Interior renovations for 2 bed units include refinished original hardwood floors, vinyl flooring in kitchens, new cabinets, countertops, stainless steel appliances, new dual vanities in restrooms, floor tile, tub surrounds, and lighting. Very well priced on actual income at an in-place cap rate of 4.2% and 14.9X GRM. Spanish style retro character throughout the property with domed high ceilings, curved archways, original built-ins in rear units, and exterior detail. Potential to convert garages into two ADUs for additional income and value (buyer to verify). Incredible Belmont Heights adjacent location only a few blocks to second street, the Colorado Lagoon, and Rec Park. Long Beach Green belt access from directly in front of the property for an easy bike to the beach, restaurants, and bars. Conveniently located next to Wilson High School, Jefferson Middle School, and Cal State Long Beach.

Primary Features

County: Los Angeles
Price/SqFt: 462.12
Property Sub Type: Commercial/Residential
Property Type: Residential Income
Subdivision: Eastside (ES)
Year Built: 1929
Zoning: LBR3S

Interior

Average 1 Bed Area Units: Square Feet
Average 2 Bed Area Units: Square Feet
Average 3 Bed Area Units: Square Feet
Average Studio Area Units: Square Feet
Building Area Units: Square Feet
Common Walls: 2+ Common Walls
Garage Spaces: 5
Laundry: yes
Laundry Features: Common Area, Gas & Electric Dryer Hookup, Stackable, Washer Hookup
Levels: Two
Stories Total: 2

External

Lot Features: 6-10 Units/Acre
Lot Size Area: 6403
Lot Size Source: Assessor
Lot Size Square Feet: 6403
Number Of Buildings: 2
Parking: yes
Parking Features: Garage - Single Door
Parking Total: 5
Pool Features: None
Private Pool: no
Property Attached: yes
Sewer: Public Sewer
Water Source: Public

Location

Country: US
Elevation Units: Feet
MLS Area Major: 3 - Eastside, Circle Area
Subdivision Name Other: Eastside (ES)

Additional

Additional Parcels: no
Co List Agent State License: 02035659
Co List Office State License: 01914434
Community Features: Urban
Days On Market: 44
List Agent State License: 01908153
List Office State License: 01914434
Lot Size Units: Square Feet
New Construction: no
Number Of Separate Electric Meters: 6
Number Of Separate Gas Meters: 6
Number Of Separate Water Meters: 6
Number Of Units Total: 6
Parcel Number: 7254022028
Senior Community: no
Year Built Source: Public Records

Financial

Cap Rate: 4.2
Electric Expense: 416
Fuel Expense: 416
Gardener Expense: 600
Gross Multiplier: 14.93
Gross Operating Income: 155860
Gross Scheduled Income: 163968
Insurance Expense: 3540
Land Lease: no
Maintenance Expense: 7793
Maintenance Percent: 5
Net Operating Income: 102345
New Taxes Expense: 30625
Operating Expense: 53515
Operating Expense Percent: 34
Pest Control Expense: 1000
Price Per Unit: 408333
Professional Management Expense: 7793
Rent Control: yes
Special Listing Conditions: Standard
Tax Block: B
Tax Census Tract: 5770.00
Tax Lot: 21
Tax Tract Number: 577...
Total Expenses: 53515
Trash Expense: 416
Vacancy Allowance: 8198
Vacancy Allowance Rate: 5
Water Sewer Expense: 416

Zoning Info


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Listed by: AnthonyWalker, DRE #01908153 from Buckingham Investments, Inc 310 982-7055

Contact - Listing ID SB22237755

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Lisa DiNoto

9483 Haven Ave #100
Rancho Cucamonga, CA 91730
Phone: 9099212544

Data services provided by IDX Broker
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