$1,750,000 - 1048 Coronado Avenue, Long Beach

  • 1Beds
  • 1Baths
  • 0SQ. Feet
  • 0.14Acres

Offered at a 5.87 percent cap rate on current rents, this asset is a great acquisition opportunity for an investor looking for strong in-place cash flow and additional rental upside in the strong Eastside Long Beach rental market. This asset offers a highly desirable layout of all single-story one-bed/one-bath bungalows that are separately metered for gas and electricity. Additionally, the property is securely gated and also offers on-site laundry. 1048 Coronado Avenue is located in Eastside Long Beach, a strong-performing rental submarket, one block west of Redondo Avenue and within easy walking distance of a Food4Less-anchored shopping center and several dining options. This location offers tenants convenient access to Belmont Shore, freeways, and Cal State Long Beach. 1048 Coronado Avenue is offered along with 1043 Coronado Avenue, a 12-unit property located across the street; properties must be acquired together. These assets are part of a Long Beach portfolio sale along with 716 Raymond Avenue, a 16-unit asset that may be acquired separately.

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Sales Agent

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

Essential Information

  • MLS® #:PW24064035
  • Price:$1,750,000
  • Bedrooms:1
  • Bathrooms:1.00
  • Acres:0.14
  • 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:1048 Coronado Avenue
  • Area:3 - Eastside, Circle Area
  • Subdivision:Eastside (ES)
  • City:Long Beach
  • County:Los Angeles
  • Zip Code:90804

Amenities

  • Pool:None

Interior

  • # of Stories:1

Exterior

  • Lot Description:Rectangular Lot

Additional Information

  • Date Listed:April 1st, 2024
  • Days on Market:29
  • Zoning:LBR2N

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Based on information from California Regional Multiple Listing Service, Inc. as of April 30th, 2024 at 11:30pm 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.