Address
500 Rose Avenue Long Beach, CA
Price
$ 1,795,000
Property Attributes
  • MLS#PW20256756
  • TypeIncome
  • CountyLOS ANGELES
  • CityLong Beach
  • AreaDowntown Area - Alamitos Beach
  • NeighborhoodAlamitos Beach
  • Zip90802
  • Style
  • Price$ 1,795,000
  • Bedrooms7
  • Full Bathrooms6
  • Half Bathrooms0
  • Lot Size6,300 SqFt
Listing Provided Courtesy Of:
Austin Carr with Lyon Stahl Investment Real Est.
Data Source:
CRMLS
Property Description

500 Rose Avenue is a 5 Unit property in the Retro Row area of Long Beach adjacent to Rose Park. The two buildings consist of a 4 unit with four 1 Bedroom/ 1 Bathroom Units and a separate 3 Bedroom/ 2 Bathroom House on the corner of 5th and Rose. The 3 Bedroom/ 2 Bathroom house has been recently renovated and the 1 Bedroom/ 1 Bathroom units are in nice condition. 2 parking spaces on driveway in between the units. Separate meters for electrical and gas and all have separate hot water heaters. Landlord only pays water. Storage shed on the property. There is yard space in between the corner house and the units behind that can be converted into more parking. Long term excellent tenants. Tenants pay their own utilities. Low maintenance property. Units have been updated with partial copper plumbing and ABS drain lines and new electric panels. The Fourth Street / Retro Row location is desirable for young urban professionals seeking close proximity to employment opportunities in Downtown Long Beach, along with a plethora of shopping and dining amenities. 500 Rose Avenue provides an investor with a turnkey condition property in a highly popular Long Beach rental market at a 3.82% cap rate on current rents.

Price History
12/14/2020 Listed $1,795,000

General Features

Community Features Suburban
Levels Two
Listing Agent Austin Carr - BRE#01986298
Listing Agent State License 01986298
MLS Area 4 - Downtown Area, Alamitos Beach
Open Parking Spaces 2
Pool Features None
Property Attached Y/N Yes
Property Type Residential Income
Sewer Public Sewer
Special Listing Conditions Standard
Status Active
Stories 2
Subdivision Name Alamitos Beach (AB)
Terms Cash, Cash to Existing Loan, Cash to New Loan, Conventional, 1031 Exchange, Submit
Total Units 5
Zoning LBR1N

Interior Features

Common Walls 1 Common Wall
Laundry Features Inside

Exterior Features

Lot Features 0-1 Unit/Acre
Lot Size Acres 0.14
Lot Size Area 6300
Lot Size Source Assessor
Lot Size Square Feet 6300
Lot Size Units Square Feet
Number of Buildings 2
Number of Separate Electric Meters 5
Number of Separate Gas Meters 5
Number of Separate Water Meters 1
Total Parking 2
Water Source Public

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Primary On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Income Average in 90802

Price
AVG $3.02M
$1.8M
Visits
AVG 60
289
Year Built
AVG 1929
1922
Walkscore
AVG 94
95
Data Provided by Walkscore ® not using MLS data

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