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Jill Bennett

jill@jillbennetthomes.com +1(805) 478-8448

$ 1,550,000

Est. payment | -/mo

6 Beds

3 Baths

3,380 SqFt

Save

$ 1,550,000

Est. payment | -/mo

Save

6 Beds

3 Baths

3,380 SqFt

Key Details

Property Type Single Family Home

Listing Status Active

Purchase Type For Sale

Square Footage 3,380 sqft

Price per Sqft $458

MLS Listing ID 26672091

Bedrooms 6

HOA Y/N No

Year Built 1909

Lot Size 3,476 Sqft

Property Description

Dive into this diversified investment, a mixed-use property yielding strong revenue with upside potential and preliminary redevelopment concept plans. Nestled in an evolving Long Beach neighborhood, this compelling asset covers two lots with separate APN's, merging lucrative commercial operations with updated residential spaces for a dynamic revenue stream. The front building features two retail store fronts on the ground level, and upstairs a three bedroom apartment features dual primary sized rooms with a common bathroom. The rear duplex qualifies as a multi-family residential duplex. Upstairs at the rear you'll find a two-bedroom apartment (converted) with great balcony space and tons of daylight. Downstairs rear is a large one bedroom apartment. Each residential unit has its own new laundry in-unit and there's a long driveway with off-street parking at the back. The two separate APN's of this purchase opportunity could allow for conventional financing of the rear duplex, increasing attainability for newer or first time investors. The allure of this property extends beyond its current income generating capabilities to a future filled with promise, highlighted by the preliminary sketches for the development of 20 micro-apartment as an option for future development. Envision the rent roll on a prospective 20 micro-units building! Recent improvements and new construction are reshaping the neighborhood, not to mention the cities investment of over $750MM on infrastructure via the "Elevate '28" plan. These two buildings collectively known as 219 E 10th Street stand out as a stellar choice for investors aiming for a combination of steady diversified income and the opportunity for expansive growth and appreciation. The strategic benefits of owning a desirable mixed-use building with upside potential, redevelopment potential, and situated on two APN's make this a rare gem. Updated units, off-street parking, a prime location, and a manageable 5 door roster underscore the ease of stepping into this investment for new investors and seasoned professionals alike. This opportunity presents a rare window to invest a forward-thinking, multifaceted investment perfect for those poised to leverage the city's bright prospects and sights on the long term. APN #7273-007-037 (215, 219, 219.5) and APN #7273-007-035 (221, 221.5). Subject to CA rent control law. All remarks made in good faith, however cannot be guaranteed by listing agent / broker. Buyer to verify.

Location

State CA

County Los Angeles

Area 4 - Downtown Area, Alamitos Beach

Zoning LBPD29

Interior

Interior Features Ceiling Fan(s)

Heating Wall Furnace

Cooling Wall/Window Unit(s)

Fireplace No

Appliance Refrigerator, Dryer, Washer

Exterior

Parking Features Concrete, Gated, One Space

Building

Story 2

Entry Level Two

Level or Stories Two

New Construction No

Others

Senior Community No

Tax ID 7273007037

Special Listing Condition Standard

CRMLS Full IDX Feed (MAIN Website Search)

Listed by Jeffrey DeLancy Realty ONE Group Pacific #01988084

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+1(805) 478-8448

jill@jillbennetthomes.com

1303 E Grande Ave. #123, Arroyo Grande, CA, 93420, USA

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219 E 10th ST Long Beach, CA 90813