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$ 5,000,000
Est. payment | /mo
6,751 Sqft Lot
$ 5,000,000
Est. payment | /mo
6,751 Sqft Lot
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID CRPW24250197
Originating Board California Regional MLS
Year Built 1948
Lot Size 6,751 Sqft
Property Description
305 Coronado Avenue is a 16-unit apartment building in the highly desirable Bluff Heights neighborhood of Long Beach, California. The building is a charming 1948 construction with a mix of eight studio and eight one-bedroom units, many of which have been remodeled. Unit interiors boast refinished hardwood flooring, modernized kitchens and baths. The property also offers private patios, on-site laundry, and storage options. 305 Coronado Avenue is in a great rental location steps to an elementary school, within easy walking distance of popular restaurants along Broadway, a half-mile to Bluff Park and the beach, and proximate to Second Street dining, retail and entertainment. The property boasts strong in-place rents with four percent potential upside, and furthermore, a RUBS program significantly recoups utility expenses. 305 Coronado Avenue is an excellent acquisition opportunity for any investor looking for strong in-place cash flow and great location in a desirable coastal rental market.
Location
State CA
County Los Angeles
Area 2 - Belmont Heights, Alamitos Heights
Interior
Laundry Community Facility
Exterior
Pool None
Building
Water District - Public
Others
Tax ID 7257020023
Special Listing Condition Not Applicable
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Listed by Steven Bogoyevac • Steven M. Bogoyevac, Broker
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Tim Alford & Faye Bon
REALTOR® | Lic# 01507448 | 01746037