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    1622 Orange Avenue

    Long Beach, CA 90813
    • $1,997,500
    • STATUS: Active
    • ON SITE: 279 days
    • ID#: SW20156343
    UPDATED: 37 min ago
    $1,997,500
    • 0
      BEDS
    • 0.14
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 6,329
      SQFT
    • $316
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1963
    County:

    School Ratings & Info

    Description

    Wonderful opportunity for a turnkey income property with long term tenants. The property consists of 5 two bedroom apartments and one huge commercial. The 2 bedroom apartments have been remodeled with quality materials and are wonderfully designed. There is a parking lot behind the rear apartment building with parking for 10 cars. There are 4 additional parking spaces between the restaurant and the rear building. The restaurant is amazing. The restaurant was build newly just 2 years ago. The concrete floors were removed and was literally designed and built from scratch. The restaurant kitchen was taken all the way down to the dirt, new plumbing and electrical, all new hood and fire suppression system. Beautiful new glass front entry with roll down steel door for added security. the restaurant tenant owns other restaurants and a bakery and is very skilled. La Espiranza was just listed as one of the top 10 underrated restaurants in Long Beach. The restaurant is currently is open and has wonderful outside seating. Never will you find such a new restaurant with apartments at this price. Over $200,000 was recently invested in the restaurant space alone.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2021-05-12T19:37:51.713. 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 Team Tami | Palm Realty Boutique. Licensed in the State of California, USA.
    www.playavistaliving.com/homes/108591671
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    1622 Orange Avenue Long Beach, CA 90813

    • Price: $1,997,500
    • Status: Active
    • Updated: 37 min ago
    • ID#: SW20156343
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.14
    Acres
    6,329
    SQFT
    $316
    $/SQFT
    1963
    Built
    Neighborhood:
    Poly High (Ph)
    County:
    Los Angeles
    Area:
    9 - Poly High
    Property Description
    Wonderful opportunity for a turnkey income property with long term tenants. The property consists of 5 two bedroom apartments and one huge commercial. The 2 bedroom apartments have been remodeled with quality materials and are wonderfully designed. There is a parking lot behind the rear apartment building with parking for 10 cars. There are 4 additional parking spaces between the restaurant and the rear building. The restaurant is amazing. The restaurant was build newly just 2 years ago. The concrete floors were removed and was literally designed and built from scratch. The restaurant kitchen was taken all the way down to the dirt, new plumbing and electrical, all new hood and fire suppression system. Beautiful new glass front entry with roll down steel door for added security. the restaurant tenant owns other restaurants and a bakery and is very skilled. La Espiranza was just listed as one of the top 10 underrated restaurants in Long Beach. The restaurant is currently is open and has wonderful outside seating. Never will you find such a new restaurant with apartments at this price. Over $200,000 was recently invested in the restaurant space alone.
    Exterior Features

    Lot Features 6-10 Units/Acre Number Of Separate Electric Meters 6 Parking Features AsphaltOff StreetOne SpaceUncovered Parking Total 0 Pool Features None Pool Private YN No Property Attached YN Yes

    Interior Features

    Common Walls 2+ Common Walls

    Property Features

    Additional Parcels YN No Association Fee 0 Association YN No Common Interest None Community Features CurbsUrban Electric Expense 240 Exclusions Tenants Personal Property Fuel Expense 0 Garage YN No Gross Income 12500 Gross Scheduled Income 150000 Insurance Expense 4000 Land Lease YN No Laundry Features See Remarks Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms CashCash To Existing LoanCash To New LoanConventional1031 Exchange Net Operating Income 144000 New Construction YN No New Taxes Expense 12000 Number Of Separate Gas Meters 6 Number Of Separate Water Meters 1 Operating Expense 6000 Rent Control YN No Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Tenant Pays ElectricityGas Trash Expense 1200 Water Sewer Expense 2400 Water Source Public Zoning Lbr34

    Listing provided courtesy of Roark Merrill of Signature Real Estate, Inc.


    Based on information from California Regional Multiple Listing Service, Inc. as of 2021-05-12T19:37:51.713. 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 Team Tami | Palm Realty Boutique. Licensed in the State of California, USA.
     
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