$3,300,000
$3,995,000
17.4%For more information regarding the value of a property, please contact us for a free consultation.
12,404 SqFt
SOLD DATE : 04/25/2023
Key Details
Sold Price $3,300,000
Property Type Multi-Family
Sub Type Mixed Use
Listing Status Sold
Purchase Type For Sale
Square Footage 12,404 sqft
Price per Sqft $266
Subdivision North Long Beach (Nlb)
MLS Listing ID PW23041994
Sold Date 04/25/23
HOA Y/N No
Year Built 1963
Lot Size 0.304 Acres
Acres 0.3041
Property Description
111 West Del Amo Boulevard is an 18-unit apartment building in Long Beach, California. This asset presents a great opportunity for an investor to acquire a partially renovated asset in a strong rental market, continue renovating the property, and capture 42 percent rental upside.
111 West Del Amo Boulevard offers a mix of eight two-bedroom/one-bath and 10 one-bedroom/one-bath units and a competitive amenities package that includes a pool, controlled access, laundry facilities, and 12 single-car garages with tandem driveway parking.
The asset boasts several recent improvements, including all new windows, a new pool fence, newer pool equipment, and the recent remodeling of three units with the remodel of a fourth unit currently underway.
The property is in a solid rental location with great visibility along Del Amo Boulevard and proximate to schools; Perry Lindsey Middle School is directly across the street, and Dooley Elementary is just down the block. Additionally, the Bixby Knolls Shopping Center is a mile away, offering tenants easy access to a Vons, ALDI, Marshalls, Starbucks, post office, and more.
Location
State CA
County Los Angeles
Area 7 - North Long Beach
Zoning LBR1N
Rooms
Ensuite Laundry Common Area
Interior
Laundry Location Common Area
Fireplace No
Laundry Common Area
Exterior
Garage Spaces 12.0
Garage Description 12.0
Pool Community
Community Features Suburban, Pool
Total Parking Spaces 24
Private Pool No
Building
Lot Description Rectangular Lot
Sewer Public Sewer
Water Public
New Construction No
Others
Senior Community No
Tax ID 7132024019
Acceptable Financing Cash, Cash to New Loan
Listing Terms Cash, Cash to New Loan
Financing Cash
Special Listing Condition Standard
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Bought with Steven Bogoyevac • Steven M. Bogoyevac, Broker
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "
Scott Greenspan
Broker Owner