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Long Beach, CA 90802,534 Maine AVE
Long Beach, CA 90802,534 Maine AVE
Long Beach, CA 90802,534 Maine AVE
$1,185,000
Est. payment /mo
$1,250,000
5.2%
Est.Price: ?

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7 Beds
6 Baths
2,630 SqFt
SOLD DATE : 01/03/2025

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

Bedrooms 7

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

Exterior

Parking Features On Street

Building

Story 2

New Construction No

Others

Special Listing Condition Standard

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California Regional MLS (CRMLS)
Listed by John McCann • Lyon Stahl Investment Real Estate, Inc.
Bought with Michael Padilla • Lyon Stahl Investment Real Estate, Inc.
agent
Devone Richard

Broker | License ID: 1002115

+1(626) 500-1212 | devone@nextadvisors.properties

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