tomo logo

$4,500,000

Beds
20
sq ft
10,158

1108 Termino Ave, Long Beach, CA 90804

1108 Termino Ave

Long Beach, CA 90804

  • 67 days on market
    • Price drop $150,000↓
Discover a hidden gem in Long Beach's Eastside submarket with this exceptional 1980s building. Situated in a highly sought-after, low-vacancy area, the property presents over 18% rental upside potential. Recent improvements include remodeled units in 2021 and an upgraded 15-space parking garage. The building comprises 10 spacious two-bedroom, condo-style apartments, each featuring bright and airy interiors. Upper units offer vaulted ceilings, and all units include large balconies for added comfort. Security is enhanced with locked entrances and surveillance cameras throughout the property. The gated garage, with 15 parking spaces, also provides potential for additional income by renting out unused spaces. Other key features include a newer roof with a lifetime guarantee and seller-owned laundry machines. With tenants responsible for their own gas and electricity, operating costs remain low. Conveniently located near freeways and public transportation, this well-maintained, income-generating property offers significant growth potential. Don't miss out on this outstanding investment opportunity in a thriving Long Beach neighborhood!

Details

Property type

Est. home value

$4,738,133

Lot size

8,561 sq ft

Price per sq ft

$444

Year built

1986

HOA

No

Price History

11/19/2024
CLAW

CLAW #24437011

Price change
$4,500,000
-3.23%
10/02/2024
CRMLS

CRMLS #OC24089428

Removed
$4,650,000
09/15/2024
CLAW

CLAW #24437011

Listed
$4,650,000

Schools & Community

Neighborhood: 

East Side

Elementary school: 

Unknown

Middle school: 

Unknown

High school: 

Unknown

Seller’s Loan History

Before you make an offer, understand who you are negotiating with so you can tailor your negotiation strategy to their situation.

Lender

Bbcn Bank

Loan start date

September 2021

Original loan amount

$1,350,000

Est. remaining balance

Not provided

Interest rate

2.77%

Loan type

Credit Line (Revolving)

Seller

Tae Sook Chang and 2007 Chang Family Trust

Source: Public records data

If you're the owner, you can request to remove loan details. Email listingsupport@tomo.com

How insights can help you

Interest rate

If the seller has a low interest rate, they may be tempted to rent the property out if they can't get the price they have in mind.

Motivation

If the seller already got a job in a different city, they may feel pressure to sell quickly to free up cash for a new home.

Equity

If the seller stands to receive a large amount of cash when they sell the property, they might be willing to negotiate on the offer price.

Interested in learning more?

Status: Active

Tomo last checked: 11/21/2024 at 9:30 PM

Listing updated: 11/18/2024 at 5:45 PM

Listed by: Cheong Lee, Keller Williams Beverly Hills Phone #: (310) 432-6400

MLS: CLAW #24437011

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