Sold

2247 Earl Avenue

Long Beach CA, 90806

$1,858,000


$370.56 per sqft

Sold

5,014 sqft

Condo

Built in 1955

Listed by Andrew McAllister with Nationwide Real Estate Execs 888-314-8451

This is a unique opportunity to purchase a partially stabilized 7-unit asset in a core Southern CA market with real upside to a 6.37% cap rate. Current ownership has established a proven renovation plan by remodeling 4 out of 7 units and achieved market rents for only 57% of the building. Leaving an additional 29% upside in rents for a new owner to capitalize on. Some improvements include high end kitchen & bathroom remodels in four units, added mini split AC/heaters in two units, added in-unit washer dryers in two units, added in-unit sub panels in three units, installed artificial turf in front yard and added drought tolerant landscaping with drip new irrigation system. The building has a diverse unit mix comprised of (1) 2BD/1BA, (5) 1BD/1BA, (1) Studio units and (4) on-site garages.

RS22234336

MLS ID

November 2, 2022

Listed

March 23, 2024

Updated

Map

2247 Earl Avenue
Long Beach CA, 90806

Interior Features

Total Stories

2


Appliances

Gas Range


Laundry Description

Common Area


Floor Description

Vinyl, Wood


Fireplace

Yes


Fireplace Description

None


Cooling

No


Heating

Yes


Heating Description

Combination, Wall Furnace

Exterior/Building Features

Lot Size

0.14 Acres


Lot Features

Front Yard, Landscaped, Street Level


Roof

Composition


Sewer

Public Sewer

Other Property Details

Area Name

5 - Wrigley Area


Days on Market

138


Garage

Yes


Garage Spaces

4


Parking

Door-Single, Garage


Parking Total

4


View

No


County

Los Angeles


Water Source

Public


Pool

No


Pool Features

None


Zoning

LBR2N


Buyer Agency Compensation

2%

Listing Contact: 888-314-8451 

Based on information from the California Regional Multiple Listing Service (CRMLS) as of 3/23/2024. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.

©2024 California Regional Multiple Listing Service (CRMLS) all rights reserved.

Data last updated on 3/23/2024 at 1:31 AM UTC

 

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