1135 Raymond Ave, Long Beach, CA 90804
- $2,289,000
- 16
- BD
- 10
- BA
- 7,128
- SqFt
- List Price
- $2,289,000
- Price Change
- ▼ $11,000 1783377630
- MLS#
- 26826345
- Year Built
- 1987
- Bedrooms
- 16
- Bathrooms
- 10
- Living Sq. Ft
- 7,128
- Lot Size
- 6,495
- Days on Market
- 92
- Property Type
- Multifamily
- Stories
- 2
Property Description
HIGHLY COVETED 1980'S CONSTRUCTION - PRICED AT 10.3 GRM AND 6.6% CAP ON MARKET RENTS. 9 units in Long Beach built in 1987, NOT subject to rent control, only subject to AB 1482 rent control - maximum annual increase of 5% + CPI (currently 8.7% total). Located in a great location on the East side. Long Beach has undergone major redevelopment with over $8BB of new projects in the past few years. The property is professionally managed and well maintained with onsite laundry. It also features onsite parking for every unit - a rarity in parking impacted Long Beach. The property features an excellent unit mix of 1 and 2 bed units with rents approximately 10% below market. Built in 1987 this property features copper plumbing and modern electrical. Qualified Buyers can obtain a new loan fixed at 5.40% for 5 years, Interest Only. Anduril Industries, a cutting-edge defense technology company specializing in AI applications announced that it is commencing a $1 billion redevelopment of land adjacent to the LB Airport. The project is planned to be completed in mid-2027 and is expected to create 5,500 new direct jobs at the site plus thousands of indirect construction and supply-chain service jobs. The City also approved a $38MM revamp of Long Beach Airport in preperation for the 2028 Olympic games.
Additional Information
- Other Buildings
- None
- Heat
- Wall
- Cooling
- None
- Number of Cars in Garage
- Assigned
Mortgage Calculator
Courtesy of The Agency, Jonathan Swire - CA DRE#01336277
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