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Sq.Ft. Lot13,003
Year1969
Status:
Sold
Property Type:Apartment
MLS #:OC22068380
Date Sold:4/12/2023
Lot Size:13,003 Sq. Ft.
County:Los Angeles
Listing Agent/Office
Agent:Michelle Towell
Office:People Realty, Inc
This 14 unit investment property consists of ten 1-bedroom / 1-bathroom units, two 3-bedroom / 2 bathroom units, one 2 bedroom / 2 bathroom and one 2-bedroom / 1.5 -bathroom unit. It contains nine garages , onsite laundry and a communal courtyard.
Secure, gated entry, delightfully manicured landscaping, this property offers an elegant lifestyle to its tenants
Location is steps away from all the restaurants and shopping 2nd street has to offer! Blocks from the beach. Award winning Long Beach Unified School District; Lowell Elementary, Rogers Middle, Wilson High School
Secure, gated entry, delightfully manicured landscaping, this property offers an elegant lifestyle to its tenants
Location is steps away from all the restaurants and shopping 2nd street has to offer! Blocks from the beach. Award winning Long Beach Unified School District; Lowell Elementary, Rogers Middle, Wilson High School
Detailed Maps
Price Change History
| Date | Old Price | New Price | Percent Change |
| 10/4/2022 | $6,000,000 | $5,500,000 | -8.3% |
| 4/12/2023 | $5,500,000 | $5,000,000 | -9.1% |
Community Information
Address:360 Freeman Ave, Long Beach, CA 90814
Area:2 - Belmont Heights/ Alamitos Heights
County:Los Angeles
City:Long Beach
Subdivision:Belmont Heights (Bh)
Zip Code:90814
Architecture
Year Built:1969
Stories:2
Building Area: 11187.0
Number of Buildings: 1
Total Units: 14
Stories Total: 2
Unit 1: 10 Units • 1 Bed • 1 Bath • Unfurnished • $12,145 actual rent • $12,141 total rent • $1,850 pro forma
Unit 2: 2 Units • 3 Beds • 2 Baths • Unfurnished • $4,695 actual rent • $4,695 total rent • $2,800 pro forma
Unit 3: 1 Unit • 2 Beds • 2 Baths • Unfurnished • $2,150 actual rent • $2,150 total rent • $2,500 pro forma
Unit 4: 1 Unit • 2 Beds • 2 Baths • Unfurnished • $2,195 actual rent • $2,195 total rent • $2,600 pro forma
Garage Spaces: 9.0
Features / Amenities
Laundry: In Garage
Entry Level: 1
Common Walls: 2+ Common Walls
Parking Features: Garage
Parking Total: 9.0
Property Features
Lot Size:
0.3 Acres / 13,003 Sq. Ft.
Lot Features: Item1115UnitsAcre
Sewer: Public Sewer
Water: Public
Zoning:LBR2A
Directions:Just south of 4th Street and Freeman
Tax and Financial Info
Buyer Financing: Seller Financing
Cap Rate: 3.1
Gross Scheduled Income: $267,180
Net Operating Income: $216,088
Electric Expense: $1,624
Gardener Expense: $2,480
Insurance Expense: $6,843
Maintenance Expense: $10,208
Pest Control Expense: $440
Water/Sewer Expense: $5,359
Terms: Cash
Schools
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Based on information from California Regional Multiple Listing Service, Inc. as of September 22, 2023. 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. IDX provided by Sierra Interactive.