Courtesy of Steven M. Bogoyevac, Broker, Steven Bogoyevac. IDX Contact: 562-436-5800

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790 Redondo Avenue Long Beach, CA 90804
$1,295,000
beds
0 baths
sq ft

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David Oronoz

David Oronoz

Principal | Multifamily Investments

DRE# 01838862

Bobby Aschtiani

Bobby Aschtiani

Principal | Multifamily Investments

DRE# 02048373

Chris Pettit

Chris Pettit

Founder

DRE# 01983950

Property Description

790 Redondo Avenue is an immaculately maintained duplex in Long Beach, California. The asset is a 1915 construction that consists of two Craftsman bungalows, a large 1,046-square foot one-bedroom/one-bath with a den and in-unit laundry and a three-bedroom/two-bath that is currently leased as an office to a property management company. The bungalows are separated by and share a very spacious fenced patio that is perfect for outdoor living and entertaining. The units are separately metered for gas and electricity, and the property also offers a single-car garage. 790 Redondo Avenue is located in desirable Eastside Long Beach proximate to retail (WalkScore: 88), just one mile from the beach and Belmont Shore, and conveniently near Cal State Long Beach and the 405, 22 and 605 freeways. Tenants enjoy an easy one-block walk to the nearby Starbucks, Smart & Final grocery store, and several popular local restaurants. With its excellent condition, great location in a strong coastal rental market, and top-of-the-market rents being achieved, this offering is an outstanding turnkey investment opportunity. Furthermore, the property management company that leases the front unit is on a month-to-month lease, presenting a new investor with a few potential investment strategies: either retain the company as a reliable tenant, acquire the office space for the investor’s own use, or convert the space back to residential use in the future.

Property Details & Features

Property Type

  • Residential Income

Year Built

  • 1915

House

  • Built in 1915
  • 1552 total building sqft
  • No Common Walls

Community

  • Suburban

Expenses

  • Operating Expense: $24,332

Garage

  • 1 garage space

Income

  • Gross Income: 72000
  • Gross Scheduled Income: 72000
  • Net Operating Income: 44068

Laundry

  • Inside

Listing

  • Listed on 2021-10-12
  • Rent controlled

Location

  • County: Los Angeles
  • Subdivision: Eastside (ES)

Lot

  • 5627 sqft
  • 0.13 acres
  • Area: 5627
  • Rectangular Lot

Property

  • 2 buildings
  • 2 units

Sewer

  • Public Sewer

Utilities

  • 2 separate electric meters
  • 2 separate gas meters
  • 0 separate water meters

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