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Key Details
Sold Price $1,050,000
Property Type Condo
Sub Type Apartment
Listing Status Sold
Purchase Type For Sale
MLS Listing ID OC24011071
Sold Date 03/25/24
HOA Y/N No
Year Built 1925
Lot Size 4,356 Sqft
Property Description
1495 Henderson Avenue is a 5-unit multifamily investment opportunity located in Long Beach, CA. 1495 Henderson Avenue offers a mix of one and two-bedroom floor plans with amenities including security doors, gated pedestrian access, and four garage spaces. The property represents a unique value-add opportunity with ample upside. Long Beach’s continued strong rental metrics, including a 2022 vacancy rate of just 4 percent and year-over-year rent growth of 8.5 percent, provide a new owner with the opportunity to take advantage of the substantial demand for rental units in the area. With current rents well below market rates, new ownership could complete a comprehensive renovation of the units, allowing them to achieve significant rental premiums compared to non-renovated units. 1495 Henderson Avenue benefits from its excellent location, just North of Downtown Long Beach, providing residents with convenient access to an abundance of retail, dining, and entertainment options, as well as employers. Additionally, the property’s close proximity to Interstate 710 provides convenient access to the Port of Long Beach and the Port of Los Angeles, two of the busiest ports in the world and a major employment hub for the region. Furthermore, 1495 Henderson Avenue is within close proximity of all three levels of education.
Location
State CA
County Los Angeles
Area 699 - Not Defined
Zoning LBR4N
Interior
Fireplace No
Laundry None
Exterior
Garage Spaces 4.0
Garage Description 4.0
Pool None
Community Features Curbs, Sidewalks
Total Parking Spaces 4
Private Pool No
Building
Lot Description Street Level
Story 2
Entry Level Two
Sewer Public Sewer
Water Public
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 7269040009
Energy Description 401.0
Acceptable Financing Cash to New Loan, 1031 Exchange
Listing Terms Cash to New Loan, 1031 Exchange
Financing Cash to New Loan
Special Listing Condition Standard
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Bought with General NONMEMBER • NONMEMBER MRML
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Adrian Castillo
Principal/Realtor | CA DRE#01308935
Principal/Realtor CA DRE#01308935