Active

1108 Termino Avenue

Long Beach CA, 90804

$4,650,000


$457.77 per sqft

Active

10,158 sqft

Multi-family

Built in 1986

Listed by Lily Nguyen with Berkshire Hathaway HomeService 888-995-7575

GREAT INVESTMENT PROPERTY!!! Discover a gem in the Eastside submarket of Long Beach with this exceptional 1980s building. This property boasts 10
LARGE UNITS two-bedroom, condo-style apartments, each offering spacious and luminous interiors. Highlights include vaulted ceilings in upper units and expansive balconies in all apartments, enhancing the appeal and comfort for residents.

Security is prioritized with locked entrances and security cameras throughout the property. Additionally, the building features a gated garage with 15 parking spaces, presenting an opportunity to generate additional income by renting out surplus spaces.

It features a newer roof with a lifetime guarantee and includes seller-owned laundry machines. The financial burden of utilities is eased as tenants are responsible for their own gas and electric costs, keeping operating expenses low.

This investment asset is a standout in a desirable, low-vacancy area of Long Beach, offering more than 18% rental upside potential. Recent upgrades include remodeled units in 2021 and a piloties 15 parking lot enhancement. Conveniently located near freeways and public transportation, this property represents a rare chance to acquire a well-maintained, income-generating building with significant growth potential. Act now to capitalize on this excellent investment opportunity in a thriving residential neighborhood.

OC24089428

MLS ID

May 4, 2024

Listed

July 3, 2024

Updated

Map

1108 Termino Avenue
Long Beach CA, 90804

Interior Features

Total Stories

3


Laundry Description

Common Area


Fireplace

No


Cooling

Yes


Cooling Description

Central Air


Heating

No

Exterior/Building Features

Lot Size

0.2 Acres


Lot Features

6-10 Units/Acre


Sewer

Public Sewer

Other Property Details

Area Name

3 - Eastside, Circle Area


Days on Market

27


Garage

Yes


Garage Spaces

15


Parking Total

15


View

No


County

Los Angeles


Water Source

Public


Pool

No


Pool Features

None


Zoning

LBR2N


Buyer Agency Compensation

2%

Listing Contact: 888-995-7575 

Based on information from the California Regional Multiple Listing Service (CRMLS) as of 7/3/2024. 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, the 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. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.

©2024 California Regional Multiple Listing Service (CRMLS) all rights reserved.

Data last updated on 7/3/2024 at 3:42 PM UTC

 

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