532 Nebraska Avenue
Long Beach, CA, 90802 $ 3,300,000
Bedrooms14 Baths1.0 Sq 5,565 Monthly Estimate*
$ 23,051
Listed by Marcus & Millichap
for $3,300,000 with 14 bedrooms and 1 full bath. This 5,565 square foot home was built in 1984 on a lot size of 0.1548.
We are pleased to present a 14 unit apartment building located at 532 Nebraska Avenue in Long Beach, California. This is a value-add opportunity in a great location of Alamitos Beach. The subject property is close to 4th Street Retro Row, Downtown Long Beach and 2nd Street in Belmont Shore where there are restaurants, shops, bars, grocery stores and entertainment venues. The subject property consists of 5,565 rentable square feet spread throughout a 6,745 square foot lot. It was built in 1984 and consists of all one bedroom / one bathroom units. The subject property is also separately metered for gas and electricity which helps keep expenses to a minimum. There are a total of 9 parking spaces which are able to generate income as well. Owners enjoy the high demand for rentals in a coastal city of Southern California. Tenants enjoy living close to the ocean breeze and walking distance to shops, restaurants, cafes, entertainment centers and grocery stores. The city of Long Beach continues to progress forward and is currently experiencing major redevelopment. There has been over $2B invested in real estate transactions and new development projects since 2013. There are 3,997 residential units in the development pipeline. Notable completed projects near the subject property include the Shoreline Gateway at 777 E. Ocean Blvd. which is 35 stories high with 315 residential units and 6,700 sq. ft. of restaurant and retail space, the Ocean View Tower at 200 W. Ocean Blvd has 142 units with 4,100 sq. ft. of commercial space, and Volta on Pine at 635 Pine Ave. has 271 units with 1,302 sq. ft. of retail and commercial space. Currently under construction is the renovation at the Breakers Hotel at 210 E. Ocean Blvd, Broadway Block at 330 & 333 E. Broadway which is 432 units and over 17,793 sq. ft. of retail space, Aster at 250 E. Broadway with 218 units and 7,300 sq. ft. of commercial space, as well as the Broadstone Promenade which is 189 units with ground floor retail space as well.
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FeaturesGeneralSewer PublicSewer
Zoning LBR3T
Garage Spaces 0.0
Pool Features None
Year Built 1984
Stories 1
Levels One
Property SubType Apartment
Gross Income 248165.0
Community Features Curbs Sidewalks
County Los Angeles
Net Operating Income 248165.0
Operating Expense 85596.0
Insurance Expense 2638.0
New Construction N
Property Type ResidentialIncome
HOA / Comm Assn N
Attached Garage N
Subdivision Name Alamitos Beach (AB)
Garage Y/N N
Special Listing Conditions Standard
Status Active
Directions Nebraska Ave & 5th St.
City Long Beach
Entry Location front
View Y/N N
Senior Community Y/N N
Total Units 14
MLS Area 4 - Downtown Area Alamitos Beach
Lot Size Square Feet 6745.0
Private Pool N
Waterfront Y/N N
Carport Y/N N
Street Name Nebraska
Listing Terms Cash CashtoNewLoan Item1031Exchange
Property Attached Y/N Y
Land Lease Y/N N
Electric Expense 2750.0
Home Warranty Y/N N
Fuel Expense 2750.0
Trash Expense 2750.0
Water Sewer Expense 2750.0
Lease Renewal Y/N N
Additional Parcels Y/N N
Lease Considered Y/N N
Rent Control Y/N N
Days on Market 0
Building Area Units SquareFeet
Standard Status Active
Year Built Source Assessor
Tax Lot 2
Total Actual Rent 21322.0
Property Sub Type Additional Apartment
Taxes 41250.0
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ExteriorLot Features Item1115UnitsAcre
Water Source Public
Total Parking 0.0
Lot Size Area 6745.0
Number of Buildings 1
Spa N
Building Area Total 5565.0
Lot Size Acres 0.1548
Lot Size Units SquareFeet
Lot Size Source Assessor
Number of Separate Water Meters 1
Number of Separate Gas Meters 15
Number of Separate Electric Meters 15
Crops Included Y/N N
Open Parking Y/N N
Horse Y/N N
Irrigation Water Rights Y/N N
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InteriorTotal Stories 2
Common Walls Item2CommonWalls
Basement (Y/N) N
Air Conditioning Y/N N
Heating Y/N N
Fireplace Y/N N
Street Suffix Avenue
Laundry Features None
Entry Level 1
Electric On Property Y/N N
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* Excluded FeaturesAffordability Calculator
- Monthly Principal & Interest
- $23,051
- Monthly Property Taxes
- --
- Monthly Home Insurance
- --
Default based on a 30-year fixed rate of 7.49% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
Learn more about how to save NearbyMulti-family listings in Long Beach, CA
Average List Price $2,090,646
Percent of Sale Price 37%
About Long Beach, CA 470,090 Population
2% Since 2002
$ 57,916 Median Income
35.78 Median Age
30% Households with Children
Trends Information provided by ATTOM Data Solutions.
273443 Elementary School
272636 Middle School
Unknown High School High School
Pricing HistoryDate | Price | Price Change | Description |
---|
4/17/2024 | $3,300,000 | | Listed Price |