$2,589,000 - 720 Maine Avenue, Long Beach

  • 0Beds
  • Baths
  • 7,068SQ. Feet
  • 0.17Acres

The Maine Avenue Apartments, an 8 unit apartment building in walking distance to Downtown Long Beach, CA. Maine Avenue Apartments offer an attractive mix of (2) 3-Bedroom 2 Bath, and (6) 2 Bedroom 1 Bath Units. This is an all electric building to decrease utility costs. As well as high speed wi-fi provided to residents for greater satisfaction and occupancy. These spacious units set this property apart with square footage ranging from 850 – 985 SQFT. With 10 garages plus 7 additional parking spaces and storage areas for potential income, there is ample parking for the property as well as recent renovations including engineered hardwood flooring, fresh paint, and stainless steel appliances. Situated on a cul de sac cuts down on traffic, noise and is safe for tenants to enjoy. All New Energy efficient upgrades and low pressure aerated shower and faucets. Located in the Wilmore District, the building has easy access to freeways. The investment has potential for a 5.8%+ Cap Rate and a 12.6 GRM on market rents. It is 100% occupied with no section 8 tenants. The property has recent renovations including engineered hardwood flooring, fresh paint, and stainless steel appliances.

Sales Agent

Sam SmithBeach Cities Real EstatePhone: 562-355-8228 Cell: 562-355-8228 Contact Agent Now

Essential Information

  • MLS® #:PW20011004
  • Price:$2,589,000
  • Bathrooms:0.00
  • Square Footage:7,068
  • Acres:0.17
  • Year Built:1965
  • Type:Residential Income
  • Status:Active

Community Information

  • Address:720 Maine Avenue
  • Area:Wrigley Area (5)
  • City:Long Beach
  • County:Los Angeles
  • State:CA
  • Zip Code:90813

Amenities

  • Parking Spaces:17
  • # of Garages:10

Interior

  • Heating:Radiant
  • # of Stories:2
  • Stories:Two

Exterior

  • Lot Description:Landscaped

Additional Information

  • Date Listed:January 16th, 2020
  • Days on Market:120
  • Zoning:LBPD10

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Provided By: Gary Tolfa(00955403), Triqor Group.

Based on information from California Regional Multiple Listing Service, Inc. as of June 1st, 2020 at 2:51pm CDT. 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, 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.