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Key Details
Sold Price $2,125,000
Property Type Multi-Family
Sub Type Mixed Use
Listing Status Sold
Purchase Type For Sale
Subdivision Alamitos Beach (Ab)
MLS Listing ID PW23227566
Sold Date 05/24/24
HOA Y/N No
Year Built 1972
Lot Size 6,773 Sqft
Property Description
420 Almond Avenue is a 9-unit apartment asset located in Long Beach, California. The property is offered at 11.90 GRM and 5.56% cap rate on current rents. The property is comprised of (7) 1BD / 1BA units and (2) 2BD / 2BA units. Six (6) garages offer the potential for ADU conversion.
Eight of the nine units have been fully remodeled with recessed lighting, new flooring, new kitchen countertops, cabinetry, and stainless steel appliance, new bathrooms, and modern fixtures and features throughout. Renovated units offer in-unit washers and dryers. The property is located withing walking distance to popular 4th Street/Retro Row shopping and dining amenities.
Location
State CA
County Los Angeles
Area 4 - Downtown Area, Alamitos Beach
Zoning LBR3T
Interior
Fireplace No
Laundry Inside
Exterior
Garage Spaces 6.0
Garage Description 6.0
Pool None
Community Features Sidewalks
Total Parking Spaces 6
Private Pool No
Building
Lot Description 6-10 Units/Acre
Story 2
Entry Level Two
Sewer Public Sewer
Water Public
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 7266015022
Energy Description 1128.0
Acceptable Financing Cash, Cash to New Loan, 1031 Exchange
Listing Terms Cash, Cash to New Loan, 1031 Exchange
Financing Cash to New Loan
Special Listing Condition Standard
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Bought with Robert Stepp • Keller Williams - Santa Monica
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Monique H. Ott-Beacham
Broker | License ID: DRE #01448692
Broker License ID: DRE #01448692