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$ 1,185,000
$ 1,250,000 5.2%
Est. payment /mo
Sold on 01/03/2025
534 Maine AVE Long Beach, CA 90802
7 Beds
6 Baths
2,630 SqFt
UPDATED:
Key Details
Sold Price $1,185,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 2,630 sqft
Price per Sqft $450
MLS Listing ID 24462853
Sold Date 01/03/25
Bedrooms 7
HOA Y/N No
Year Built 1924
Lot Size 5,013 Sqft
Property Description
534 Maine Ave is a 4-unit building, originally built in 1924. This property comprises (3) spacious 2-bedroom units, each approximately 725 square feet, and (1) 1-bedroom unit at 460 square feet. One of the 2-bedroom units are currently vacant offering opportunity for a owner-user. Additionally, there is a 30% potential rental upside, providing an excellent opportunity for income growth with market adjustments. The property has been meticulously maintained and upgraded, reducing the need for substantial capital expenditures. The owner has undertaken significant improvements, including modern renovations to all units, creating a fresh, move-in-ready atmosphere. Updated landscaping enhances the curb appeal and ensures low-maintenance upkeep for future ownership. Each unit is individually metered, the owner covers water and sewer costs, while tenants are responsible for gas, trash, and electricity. This is a perfect fit for an investor or owner-user looking for a turnkey, well-located property with major capital improvements already completed, offering immediate cash flow and future upside potential.
Location
State CA
County Los Angeles
Area 4 - Downtown Area, Alamitos Beach
Zoning LBPPD1
Interior
Interior Features Ceiling Fan(s)
Fireplace No
Appliance Dishwasher, Microwave, Refrigerator, Dryer, Washer
Exterior
Parking Features On Street
Building
Story 2
Entry Level Multi/Split
Level or Stories Multi/Split
New Construction No
Others
Senior Community No
Tax ID 7278020048
Special Listing Condition Standard
Listed by John McCann • Lyon Stahl Investment Real Estate, Inc.
Bought with Michael Padilla • Lyon Stahl Investment Real Estate, Inc.
Bought with Michael Padilla • Lyon Stahl Investment Real Estate, Inc.