1043 Alamitos Avenue

Long Beach, CA 90813

$815,000
Last Sold Price
5
Beds
5
Baths
2,240 Sq. Ft.
$364 / Sq. Ft.
2,240
Sq. Ft.
$364
per Sq. Ft.

Description

We are pleased to offer the opportunity to acquire 1043 Alamitos Avenue, a 3-unit apartment building located in a rapidly evolving neighborhood of Long Beach. 1043 Alamitos Avenue is a unique property that offers a buyer the opportunity to convert the unused garage space into a brand new 1-bedroom ADU unit which will provide an investor with over 95% rental upside potential. Built in 1929, this 2,240 SqFt bungalow style apartment features gated access to the building and a great unit mix of majority...We are pleased to offer the opportunity to acquire 1043 Alamitos Avenue, a 3-unit apartment building located in a rapidly evolving neighborhood of Long Beach. 1043 Alamitos Avenue is a unique property that offers a buyer the opportunity to convert the unused garage space into a brand new 1-bedroom ADU unit which will provide an investor with over 95% rental upside potential. Built in 1929, this 2,240 SqFt bungalow style apartment features gated access to the building and a great unit mix of majority 2-bedroom units. The front two structures have been completed renovated with new bathrooms, restored hardwood floors, new cabinetry, and new utility lines throughout. The property is well-maintained with all units possessing new tankless water heaters, new roofs, and utility lines, but still offers plenty of potential for an investor to capitalize on the incomplete renovations for the 1-bedroom unit and easily convert the garage into a large 1-bedroom ADU.
  1. Listed by Kamfar Kyle Mirrafati • DRE #01911204 • Brokerage DRE #01469842 • Matthews Real Estate Investment Services

Property Details for 1043 Alamitos Avenue

Zoning
LBR4N
Parcel Number
7274008002
Total Units
3.0
Living Area
2240
Source Living Area
Vendor Enhanced
Area
Downtown Area, Alamitos Beach (4)
Vacancy Rate
0
Lot Size Area
4552

Location

Listing Courtesy of Matthews Real Estate Investment Services, Kamfar Kyle Mirrafati, DRE #01911204

Sold By Buckingham Investments, Inc, Joseph Finkelstein, DRE #02119882

Add your commute
LISTING UPDATED: 08/31/2023 10:57 AM

Property Details for 1043 Alamitos Avenue

StatusSold
MLS #23-259695
Days on Market106
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1929
Lot Size0.10 AC / 4,552 SF
CountyLos Angeles County

Location

Listing Courtesy of Matthews Real Estate Investment Services, Kamfar Kyle Mirrafati, DRE #01911204

Sold By Buckingham Investments, Inc, Joseph Finkelstein, DRE #02119882

Add your commute

Building Information for 1043 Alamitos Avenue

Stories1Residences-Year Built1929Building Size-Lot Size0.10 AC / 4,552 SF

Payment Calculator

$5,055 per month

30 year fixed, 7.25% Interest

Principal and Interest

$4,448

Property Taxes

$607

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 1043 Alamitos Avenue

Community / Development
Community / Development
  • Number Of Units: 3
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 1
  • Number Of Buildings: 3
  • Type Of Units: Bungalow
  • Water Heaters: Yes
  • Water Heater Features: Tankless
Contract Info
Contract Info
  • Probate: No
  • Disclosures: As Is
  • Listing Type: Exclusive Right To Sell
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $50,820
  • Net Operating Income: $33,168.00
  • Gross Income: $52,392
  • Cap Rate: 3.92%
  • Gross Rent Multiplier: $16.40
  • Total Annual Expense: 17653
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.1045
  • Lot Size Square Feet: 4552
Parking Details
Parking Details
  • Parking Garage: None
  • Total Parking: 0
  • Parking Features: None
Interior Features
Interior Features
  • Cooling Type: Other
  • Heating Type: Other
  • Equipment: Other
  • Common Walls: Detached/No Common Walls
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 04-14-2023
Unit Details
Unit 1 Information
  • Unit Beds: 2
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $1,705.00
  • Unit Actual Rent: $1,705.00
  • Unit Projected Rent: $2,450.00
  • Like Units: 1
Unit 2 Information
  • Unit Beds: 2
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $1,760.00
  • Unit Actual Rent: $1,760.00
  • Unit Projected Rent: $2,350.00
  • Like Units: 1
Unit 3 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $901.00
  • Unit Actual Rent: $901.00
  • Unit Projected Rent: $1,850.00
  • Like Units: 1
Unit Details
  • Unit Type Type: 2106, 2107, 2108
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $151,297.00
  • Assessed Improvement Percent: 30.04
  • Assessed Land Value: $352,319.00
  • Assessed Land Percent: 69.96
  • Assessed Total Value: $503,616.00

Property History for 1043 Alamitos Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 1043 Alamitos Avenue

Taxable ValueLand$359,365Additions$154,322Total$513,687
Tax Record2023$7,280 ($607 / month)
Home Facts
Total Finished SqFt2,240 SqFtAbove Grade Finished SqFt2,240 SqFtLot Size4,552 SqFtStyleMulti-Family Res (5+ Units)Year Built1929ZoningLBR4NCountyLOS ANGELESAPN7274-008-002

Schools near 1043 Alamitos Avenue

This home is within Long Beach Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Charter - 9 to 12
Rating
School
Distance
Lincoln Elementary School
PublicK to 5

Franklin Classical Middle School
Public6 to 8

Polytechnic High School
Public9 to 12

Clear Passage Educational Center
Charter9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

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Similar Sold Homes

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No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Matthews Real Estate Investment Services, Kamfar Kyle Mirrafati, DRE #01911204

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.