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Listed by Steven Bogoyevac • Steven M. Bogoyevac, Broker
$ 1,600,000
Est. payment /mo
Price Dropped by $50K
32 La Verne Avenue Long Beach, CA 90803
2,627 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Sub Type Commercial/Residential
Listing Status Active
Purchase Type For Sale
Square Footage 2,627 sqft
Price per Sqft $609
Subdivision Belmont Shore
MLS Listing ID PW-25113362
Year Built 1947
Lot Size 2,408 Sqft
Property Sub-Type Commercial/Residential
Property Description
32 La Verne Avenue is a five-unit apartment building in a prime location just steps from the beach in Long Beach, California's sought-after Belmont Shore neighborhood. The building is a two-story 1962 construction with three one-bedroom/one-bath units, two studios, and on-site laundry. Current rents offer a new investor a substantial 61 percent rental upside, making this an excellent value-add opportunity in a coveted coastal submarket with a strong tenant base. The Belmont Shore neighborhood is popular for its walkable dining, entertainment, and retail, and this affluent area boasts an average household income over $160,000. This neighborhood also offers convenient proximity to Cal State Long Beach and freeways.
Location
State CA
County Los Angeles
Area 1 - Belmontshore/Pk, Naples, Marinapac, Bay Hbr
Zoning LBR2S
Interior
Laundry Community
Exterior
Parking Features Gated
Pool None
Community Features Suburban
Building
Lot Description Rectangular Lot
Sewer Public Sewer