Pending
3850 Elm Avenue Long Beach, CA 90807
$1,695,000

Courtesy of Hiu Chan, Broker, Hiu Chan. IDX Contact: 562-257-1200

Contact Us to Learn More

  • 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

The subject property is located at the prime Bixby Knoll location in Long Beach. It is surrounded by million-dollar single family homes. The average household income exceeds $110,000 within one mile of the property. It is only minutes from the prestigious Virginia Country club, Steelcraft, Trader Joes and retail and restaurants. The triplex property is consisted of 3 Bedroom 2 Bath house in the front and a 2 Bedroom 1 Bath unit and a 1 Bedroom 1 Bath unit in the back. It is nicely layout with plenty of open spaces on a rare to find extra-large 12,692 sqft lot. Each unit has its own private yards. Due to the size of the land, an astute investor may find great value added opportunities through redevelopment or adding ADUs to the property(please check with the city). There are also tremendous upside in the rent and better management in expenses. The owner pays for the gas and water for the 2 Bedroom unit. The 1 Bedroom 1 Bath unit is an all electricity unit and the electricity is paid by the tenant. The 3 Bedroom 2 Bath room front house tenant also pay for its own utilities including water. There are 3 garage parking space and 1 open parking space. The property was built in 1929 with a few upgrades (electricity & plumbing) and additions throughout the year. Broker/Agent does not guarantee the accuracy of square footage, unit type, lot size, ordinances, zoning, permits, use code, concerning the conditions or features of the property provided by the seller or obtained from public records or other sources. Buyer is advised to independently verify the accuracy of all information.

Property Details & Features

Property Type

  • Residential Income

Year Built

  • 1929

Appliances and Equipment

  • Electric Range
  • Gas Range

House

  • Built in 1929
  • 3364 total building sqft
  • No Common Walls

Community

  • Urban

Expenses

  • Insurance Expense: $1,251
  • Operating Expense: $33,507
  • Water Sewer Expense: $3,936

Fence

  • Wood

Garage

  • 3 garage spaces

Heating

  • Wall Furnace

Income

  • Gross Income: 82220
  • Gross Scheduled Income: 82200
  • Net Operating Income: 79734

Laundry

  • In Garage

Listing

  • 38 days on market
  • Listed on 2021-11-29
  • Rent controlled

Location

  • County: Los Angeles
  • Subdivision: Bixby Knolls (BK)

Lot

  • 12692 sqft
  • 0.2914 acres
  • Area: 12692
  • Back Yard
  • Front Yard
  • Garden

Parking

  • 1 open parking space
  • 4 total parking spaces

Property

  • 2 buildings
  • 3 units

Roof

  • Flat

Sewer

  • Public Sewer

Utilities

  • 3 separate electric meters
  • 2 separate gas meters
  • 2 separate water meters
  • Electricity Available
  • Natural Gas Available
  • Sewer Available

Mortgage Calculator

Let’s Talk

You’ve got questions and we can’t wait to answer them.

We use cookies and tracking technology in connection with your activities on our website. By viewing and using our website, you consent to our use of cookies and tracking technology in accordance with our Privacy Policy.