$2,950,000 - 716 Raymond Avenue, Long Beach
- 1Beds
- 2Baths
- 0SQ. Feet
- 0.26Acres
With strong rents in place, this asset is an ideal acquisition opportunity for an investor looking for cash flow in a dense coastal rental market. Assumable financing is available. 716 Raymond Avenue is a 1923 construction with 14 studios and two one-bedroom/one-bath units. Most units have single-story floor plans, and all are separately metered for gas and electricity. The building features on-site laundry and six single-car garages; both amenities generate additional income. The property has been well-maintained, and the electrical has been recently updated. In-place rents are strong and offer four percent potential upside. Additionally, a new investor may want to explore the potential to convert the garages to ADU’s (buyer to verify). 716 Raymond Avenue is well-located in Eastside Long Beach’s Rose Park neighborhood near the intersection of 7th Street and Junipero Avenue. Tenants enjoy convenient proximity to Junipero Beach (a four-minute drive) and easy access to retail. This property is offered as part of a portfolio along with 1043 and 1048 Coronado Avenue; 716 Raymond may be acquired separately.
Sales Agent
Sam SmithBeach Cities Real EstatePhone: 562-355-8228 Cell: 562-355-8228 Contact Agent NowEssential Information
- MLS® #:PW24064015
- Price:$2,950,000
- Bedrooms:1
- Bathrooms:2.00
- Acres:0.26
- Year Built:1923
- Type:Residential Income
- Sub-Type:Mixed Use
- Status:Active
- Listing Agent:Steven Bogoyevac
- Listing Office:Steven M. Bogoyevac, Broker
Community Information
- Address:716 Raymond Avenue
- Area:3 - Eastside, Circle Area
- Subdivision:Eastside (ES)
- City:Long Beach
- County:Los Angeles
- Zip Code:90804
Amenities
- Parking Spaces:6
- # of Garages:6
- Pool:None
Interior
- # of Stories:1
Additional Information
- Date Listed:April 1st, 2024
- Days on Market:28
- Zoning:LBCNR
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Based on information from California Regional Multiple Listing Service, Inc. as of April 29th, 2024 at 11:56am 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.