Long Beach, CA 90802,1711 1715 E 4th ST
Long Beach, CA 90802,1711 1715 E 4th ST
Long Beach, CA 90802,1711 1715 E 4th ST
$1,250,000
Est. payment /mo
$1,600,000
21.9%
Est.Price: ?

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7,405 Sqft Lot
SOLD DATE : 09/17/2024

Key Details

Sold Price $1,250,000

Property Type Commercial

Sub Type Mixed Use

Listing Status Sold

Purchase Type For Sale

MLS Listing ID OC24040161

Sold Date 09/17/24

HOA Y/N No

Year Built 1927

Annual Tax Amount $19,908

Tax Year 2023

Lot Size 7,405 Sqft

Property Description

1711 - 1715 East 4th Street is a 4-unit plus commercial space, mixed-use investment opportunity located in Long Beach, CA. 1711 - 1715 East 4th Street features 4, two-bedroom apartment units and an approximately 3,500 square foot showroom/office space. This commercial space is available to an Owner/User with a wide variety of uses. The property represents a unique value-add opportunity with ample upside. Long Beach’s continued strong residential rental metrics, including a 2022 vacancy rate of just 4 percent and year-over-year rent growth of 8.5 percent, provide a new owner with the opportunity to take advantage of the substantial demand for rental units in the area. With the property being delivered fully vacant, new ownership could complete a comprehensive renovation of the units, allowing them to achieve significant rental premiums compared to non-renovated units. Additionally, current ownership has invested significant capital into the refurbishment of the showroom space, which offers a plethora of possible user scenarios. 1711 - 1715 East 4th Street benefits from its excellent North Alamitos Beach location, just blocks away from the 4th Street Corridor, also known as Retro Row, providing residents with convenient access to an abundance of unique and vibrant retail, dining, and entertainment options. Additionally, the property’s central location provides convenient access to popular Long Beach destinations including Downtown, the Shoreline Marina, Alamitos Beach, Junipero Beach, and Bixby Park.

Location

State CA

County Los Angeles

Area 4 - Downtown Area, Alamitos Beach

Interior

Fireplace No

Laundry None

Building

Lot Description Street Level

Story 2

Water Public

Others

Tax ID 7266020002

Acceptable Financing Cash, Cash to New Loan, 1031 Exchange, Owner Will Carry

Listing Terms Cash, Cash to New Loan, 1031 Exchange, Owner Will Carry

Financing Seller Financing

Special Listing Condition Standard

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Terrance Scotton, Broker Associate

Terrance Scotton, Broker Associate

+1(626) 788-9299

Our team is ready to help you sell your home for the highest possible price ASAP


California Regional MLS (CRMLS)
Listed by Tyler Leeson • Marcus & Millichap RE Invest • 714-713-9086
Bought with Tyler Leeson • Marcus & Millichap RE Invest

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Terrance Scotton, Broker Associate

+1(626) 788-9299

Broker Associate | License ID: 01707848 NMLS: 908256

Broker Associate License ID: 01707848 NMLS: 908256

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