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229 Granada Avenue

Long Beach, CA 90803
  • $3,000,000
  • STATUS: Active
  • ON SITE: 48 Days
  • ID#: PW21194672
UPDATED: 29 min ago
$3,000,000
  • 0
    BEDS
  • 0.06
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
Built:
1953
County:

School Ratings & Info

Description

We are pleased to present a 5-unit multifamily property located at 229 Granada Avenue located in Long Beach, CA. Built in 2020, the subject property consists of 3,939 rentable square feet spread throughout a 2,625 square foot lot. The building consists of one studio unit, three 2-story studio loft units, and one 2-bedroom / 1-bathroom unit. It contains two garages and four private balconies for tenants.The units were fully renovated and re-imagined, including creative amenities such as new kitchens & bathrooms, mechanized Garages, vinyl floors, mini-split A/C, and open living areas. The layout for each unit was redesigned to maximize living space, emphasize natural light, and to accentuate modern architectural elements.Tenants enjoy living between Downtown Long Beach and Belmont Shore, a short distance to local beaches, California State University of Long Beach, as well as shopping, restaurants, and nightlife. The city of Long Beach continues to progress forward and is currently experiencing major redevelopment. The Long Beach port is undergoing $4.4 billion in future redevelopment that will create 14,000 new and permanent jobs in Southern California. The city is undergoing a building boom with more than $5 billion in private and public investments in various stages of development. The new $520 million Long Beach Civic Center development will house a new City Hall, Port of Long Beach headquarters and the Main Library. Long Beach sustains its ability to attract renters due to its strong economy and quality of life.

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Based on information from California Regional Multiple Listing Service, Inc. as of 2021-10-26T09:24:47.707. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Keller Williams Realty. Licensed in the State of California, USA.
www.therealestategirl.com/homes/121201017
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229 Granada Avenue Long Beach, CA 90803

  • Price: $3,000,000
  • Status: Active
  • Updated: 29 min ago
  • ID#: PW21194672
0
Beds
0
Baths
0
½ Baths
0.06
Acres
1953
Built
Neighborhood:
Belmont Park (Bp)
County:
Los Angeles
Area:
1 - Belmont Shore/Park,Naples,Marina Pac,Bay Hrbr
Property Description
We are pleased to present a 5-unit multifamily property located at 229 Granada Avenue located in Long Beach, CA. Built in 2020, the subject property consists of 3,939 rentable square feet spread throughout a 2,625 square foot lot. The building consists of one studio unit, three 2-story studio loft units, and one 2-bedroom / 1-bathroom unit. It contains two garages and four private balconies for tenants.The units were fully renovated and re-imagined, including creative amenities such as new kitchens & bathrooms, mechanized Garages, vinyl floors, mini-split A/C, and open living areas. The layout for each unit was redesigned to maximize living space, emphasize natural light, and to accentuate modern architectural elements.Tenants enjoy living between Downtown Long Beach and Belmont Shore, a short distance to local beaches, California State University of Long Beach, as well as shopping, restaurants, and nightlife. The city of Long Beach continues to progress forward and is currently experiencing major redevelopment. The Long Beach port is undergoing $4.4 billion in future redevelopment that will create 14,000 new and permanent jobs in Southern California. The city is undergoing a building boom with more than $5 billion in private and public investments in various stages of development. The new $520 million Long Beach Civic Center development will house a new City Hall, Port of Long Beach headquarters and the Main Library. Long Beach sustains its ability to attract renters due to its strong economy and quality of life.
Exterior Features

Lot Features 2-5 Units/Acre Number Of Separate Electric Meters 0 Parking Features Garage Parking Total 2 Pool Features None Pool Private YN No Property Attached YN Yes

Interior Features

Appliances DryerWasher Common Walls 2+ Common Walls

Property Features

Additional Parcels YN No Common Interest None Community Features CurbsSidewalks Electric Expense 400 Fuel Expense 400 Garage YN Yes Gross Income 174000 Gross Scheduled Income 169200 Insurance Expense 1800 Land Lease YN No Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms CashCash To New Loan1031 Exchange Net Operating Income 113585 New Construction YN No Number Of Separate Gas Meters 0 Number Of Separate Water Meters 0 Operating Expense 55339 Rent Control YN No Senior Community YN No Sewer Public SewerSeptic Type Unknown Special Listing Conditions Standard Total Actual Rent 14100 Trash Expense 0 Water Sewer Expense 400 Water Source Public Zoning Lbr2s

Listing provided courtesy of Kevin King of Marcus & Millichap


Based on information from California Regional Multiple Listing Service, Inc. as of 2021-10-26T09:24:47.707. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Keller Williams Realty. Licensed in the State of California, USA.
 
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