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790 Coronado Avenue

Long Beach, CA 90804
  • $3,100,000
  • STATUS: Active
  • ON SITE: 28 Days
  • ID#: OC24021293
UPDATED: 219 min ago
$3,100,000
  • 0
    BEDS
  • 0.15
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
Built:
1961
County:

School Ratings & Info

Listing Agent(s): Tyler Leeson of Marcus & Millichap RE Invest (949-419-3200)


Description

790 Coronado Avenue is a 10-unit multifamily investment property located in the Rose Park neighborhood of Long Beach, CA. 790 Coronado Avenue offers an attractive mix consisting of 5, one-bedroom units and 3, two-bedroom units, as well as 2 recently constructed accessory dwelling units (ADU). The accessory dwelling units, 1, one-bedroom unit and 1, two-bedroom unit, increase the overall total unit count by 25% and current gross potential rent by 30%. Additionally, 5 of 10 unit interiors feature attractive upgrades including fresh paint, vinyl flooring, quartz countertops, stainless steel appliances, and more. Furthermore, the property features desirable amenities including security doors and an on-site laundry facility. 790 Coronado Avenue is situated in the desirable Rose Park neighborhood of Long Beach where residents enjoy convenient access to everyday needs as well as a plethora of retail, dining, and entertainment options along Redondo Avenue. 790 Coronado Avenue is in close proximity to all levels of schooling including Willard Elementary, Jefferson Middle, and Woodrow Wilson High. Additionally, the property benefits from its central Long Beach location, providing easy access to Retro Row, Recreation Park, and Belmont Shore. This overall demand for a well-located and maintained apartment building will be a key driver in the continued growth and success at 790 Coronado Avenue.

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Based on information from California Regional Multiple Listing Service, Inc. as of 2024-02-28T00:30:24.937. 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 deemed reliable but is not guaranteed accurate by the MLS or Berkshire Hathaway HomeServices California Properties. Licensed in the State of California, USA.
www.kevinhillre.com/homes/147083954
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790 Coronado Avenue Long Beach, CA 90804

  • Price: $3,100,000
  • Status: Active
  • On Site: 28 Days
  • Updated: 219 min ago
  • ID#: OC24021293
0
Beds
0
Baths
0
½ Baths
0.15
Acres
1961
Built
Neighborhood:
Bellevue Heights
County:
Los Angeles
Area:
3 - Eastside, Circle Area
Property Description
790 Coronado Avenue is a 10-unit multifamily investment property located in the Rose Park neighborhood of Long Beach, CA. 790 Coronado Avenue offers an attractive mix consisting of 5, one-bedroom units and 3, two-bedroom units, as well as 2 recently constructed accessory dwelling units (ADU). The accessory dwelling units, 1, one-bedroom unit and 1, two-bedroom unit, increase the overall total unit count by 25% and current gross potential rent by 30%. Additionally, 5 of 10 unit interiors feature attractive upgrades including fresh paint, vinyl flooring, quartz countertops, stainless steel appliances, and more. Furthermore, the property features desirable amenities including security doors and an on-site laundry facility. 790 Coronado Avenue is situated in the desirable Rose Park neighborhood of Long Beach where residents enjoy convenient access to everyday needs as well as a plethora of retail, dining, and entertainment options along Redondo Avenue. 790 Coronado Avenue is in close proximity to all levels of schooling including Willard Elementary, Jefferson Middle, and Woodrow Wilson High. Additionally, the property benefits from its central Long Beach location, providing easy access to Retro Row, Recreation Park, and Belmont Shore. This overall demand for a well-located and maintained apartment building will be a key driver in the continued growth and success at 790 Coronado Avenue.
Exterior Features

Entry Level 1 Entry Location First Level Lot Features Street Level Number Of Separate Electric Meters 10 Parking Total 0 Pool Features None Pool Private YN No Property Attached YN No

Interior Features

Common Walls No Common Walls

Property Features

Additional Parcels YN No Association Fee 0 Association YN No Cap Rate 4.33 Common Interest Community Apartment Community Features CurbsGutter(s)Sidewalks Electric Expense 1800 Fuel Expense 1800 Garage YN No Gross Income 213780 Gross Scheduled Income 213060 Insurance Expense 6000 Land Lease YN No Laundry Features Common Area Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms Cash to New Loan1031 Exchange Maintenance Expense 5000 Net Operating Income 134232 New Construction YN No New Taxes Expense 38673 Number Of Separate Gas Meters 10 Number Of Separate Water Meters 1 Number Of Units Leased 10 Operating Expense 73157 Other Expense 7988 Property Sub Type Apartment Rent Control YN No Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Total Actual Rent 17755 Trash Expense 1800 Vacancy Allowance 6392 Vacancy Allowance Rate 3 Water Sewer Expense 1800 Water Source Public Zoning LBR2N



Based on information from California Regional Multiple Listing Service, Inc. as of 2024-02-28T00:30:24.937. 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 deemed reliable but is not guaranteed accurate by the MLS or Berkshire Hathaway HomeServices California Properties. Licensed in the State of California, USA.
 
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Berkshire Hathaway HomeServices California Properties
25909 Pala Dr, Suite 100
Mission Viejo CA, 92691
Listing Agent(s): Tyler Leeson of Marcus & Millichap RE Invest (949-419-3200)