$2,900,000
- Beds
- Unknown
- sq ft
- 6,426
716 Raymond Ave, Long Beach, CA 90804
716 Raymond Ave
Long Beach, CA 90804
- 91 days on market
- Price drop $50,000↓
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.
Details
Property type
Mixed Use
Lot size
0.264 acres
Price per sq ft
$452
Year built
1923
Price History
05/01/2024
![CRMLS](/_next/static/media/crmlsLogo.7699ca4d.png)
CRMLS #PW24064015
Price change
$2,900,000
-1.69%
04/01/2024
![CRMLS](/_next/static/media/crmlsLogo.7699ca4d.png)
CRMLS #PW24064015
Listed
$2,950,000
Schools & Community
Neighborhood:
Rose Park
Elementary school:
Unknown
Middle school:
Unknown
High school:
Unknown
Community features: Suburban
Community features:
Suburban
Status: Active
Tomo last checked: 07/01/2024 at 7:30 AM
Listing updated: 05/01/2024 at 7:50 AM
Listed by: Steven Bogoyevac, Steven M. Bogoyevac, Broker Phone #: (562) 436-5800
MLS: CRMLS #PW24064015
![CRMLS logo](/_next/static/media/crmlsLogo.7699ca4d.png)
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