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Listing Details

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School Ratings & Info

Description

We are pleased to present a 36-unit multifamily property located at 910-930 Freeman Avenue located in Long Beach, CA. Built in1963, the subject property consists of 27,124 rentable square feet spread throughout a 27,013 square foot lot. The building consists of four 1-bedroom / 1-bathroom units, and thirty-two 2-bedroom / 1 -bathroom unit. It contains twenty-four garages and numerous communal patios fortenants.The units were fully renovated and re-imagined, including creative amenities such as new kitchens & bathrooms, vinyl floors, and open livingareas. The layout for each unit was redesigned to maximize living space, emphasize natural light, and to accentuate modern architecturalelements.Tenants enjoy living between Downtown Long Beach and Belmont Shore, a short distance to local beaches, California State University of LongBeach, as well as shopping, restaurants, and nightlife. The city of Long Beach continues to progress forward and is currently experiencing majorredevelopment. The Long Beach port is undergoing $4.4 billion in future redevelopment that will create 14,000 new and permanent jobs inSouthern California. The city is undergoing a building boom with more than $5 billion in private and public investments in various stages ofdevelopment. The new $520 million Long Beach Civic Center development will house a new City Hall, Port of Long Beach headquarters and theMain Library. Long Beach sustains its ability to attract renters due to its strong economy and quality of life.

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Based on information from California Regional Multiple Listing Service, Inc. as of 2021-09-17T14:34:15.323. 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 deemed reliable but is not guaranteed accurate by the MLS or The DeBonis Team | Realty Masters & Associates. Licensed in the State of California, USA.
www.debonishomes.com/homes/118226609
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910 Freeman Avenue Long Beach, CA 90804

  • Price: $12,995,000
  • Status: Active
  • Updated: 14 min ago
  • ID#: PW21128394
0
Beds
0
Baths
0
½ Baths
0.62
Acres
1963
Built
Neighborhood:
Eastside (Es)
County:
Los Angeles
Area:
3 - Eastside, Circle Area
Property Description
We are pleased to present a 36-unit multifamily property located at 910-930 Freeman Avenue located in Long Beach, CA. Built in1963, the subject property consists of 27,124 rentable square feet spread throughout a 27,013 square foot lot. The building consists of four 1-bedroom / 1-bathroom units, and thirty-two 2-bedroom / 1 -bathroom unit. It contains twenty-four garages and numerous communal patios fortenants.The units were fully renovated and re-imagined, including creative amenities such as new kitchens & bathrooms, vinyl floors, and open livingareas. The layout for each unit was redesigned to maximize living space, emphasize natural light, and to accentuate modern architecturalelements.Tenants enjoy living between Downtown Long Beach and Belmont Shore, a short distance to local beaches, California State University of LongBeach, as well as shopping, restaurants, and nightlife. The city of Long Beach continues to progress forward and is currently experiencing majorredevelopment. The Long Beach port is undergoing $4.4 billion in future redevelopment that will create 14,000 new and permanent jobs inSouthern California. The city is undergoing a building boom with more than $5 billion in private and public investments in various stages ofdevelopment. The new $520 million Long Beach Civic Center development will house a new City Hall, Port of Long Beach headquarters and theMain Library. Long Beach sustains its ability to attract renters due to its strong economy and quality of life.
Exterior Features

Lot Features 36-40 Units/Acre Number Of Separate Electric Meters 36 Parking Total 24 Pool Features None Pool Private YN No Property Attached YN Yes

Interior Features

Common Walls 2+ Common Walls

Property Features

Additional Parcels YN No Common Interest None Community Features CurbsSidewalks Electric Expense 1613 Fuel Expense 1613 Garage YN Yes Gross Income 804333 Gross Scheduled Income 828900 Insurance Expense 4950 Land Lease YN No Laundry Features None Levels Two Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms CashCash To New Loan1031 Exchange Maintenance Expense 24120 Net Operating Income 531373 New Construction YN No New Taxes Expense 162438 Number Of Separate Gas Meters 36 Number Of Separate Water Meters 1 Operating Expense 272660 Other Expense 10500 Rent Control YN No Senior Community YN No Sewer Public SewerSeptic Type Unknown Special Listing Conditions Standard Total Actual Rent 69075 Trash Expense 1613 Water Sewer Expense 1613 Water Source Public Zoning Lbr2n

Listing provided courtesy of Kevin King of Marcus & Millichap


Based on information from California Regional Multiple Listing Service, Inc. as of 2021-09-17T14:34:15.323. 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 deemed reliable but is not guaranteed accurate by the MLS or The DeBonis Team | Realty Masters & Associates. Licensed in the State of California, USA.
 
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The DeBonis Team | Realty Masters & Associates
19040 Van Buren Boulevard #107
Riverside CA, 92508