716 Raymond Avenue
716 Raymond Avenue
$2,900,000
1
16
6,426
6,426
$451
Description
With strong rents in place, this asset is an ideal acquisition opportunity for an investor looking for cash flow in a dense coastal rental market. Assumable financing is available. 716 Raymond Avenue is a 1923 construction with 14 studios and two one-bedroom/one-bath units. Most units have single-story floor plans, and all are separately metered for gas and electricity. The building features on-site laundry and six single-car garages; both amenities generate additional income. The property has been...With strong rents in place, this asset is an ideal acquisition opportunity for an investor looking for cash flow in a dense coastal rental market. Assumable financing is available. 716 Raymond Avenue is a 1923 construction with 14 studios and two one-bedroom/one-bath units. Most units have single-story floor plans, and all are separately metered for gas and electricity. The building features on-site laundry and six single-car garages; both amenities generate additional income. The property has been well-maintained, and the electrical has been recently updated. In-place rents are strong and offer four percent potential upside. Additionally, a new investor may want to explore the potential to convert the garages to ADU’s (buyer to verify). 716 Raymond Avenue is well-located in Eastside Long Beach’s Rose Park neighborhood near the intersection of 7th Street and Junipero Avenue. Tenants enjoy convenient proximity to Junipero Beach (a four-minute drive) and easy access to retail. This property is offered as part of a portfolio along with 1043 and 1048 Coronado Avenue; 716 Raymond may be acquired separately.
- Listed by Steven Bogoyevac • DRE #01332755 • Brokerage DRE #01332755 • Steven M. Bogoyevac, Broker • steve.bogoyevac@marcusmillichap.com
Property Details for 716 Raymond Avenue
Parking Spaces Total
6
Private PoolNo
Total Units16.0
Building TypeDetached
Lot Size SourceAssessor
Living Area6426
Assessor Parcel Number7262-021-013
Property Attached YNfalse
Location
LISTING UPDATED: 05/01/2024 12:41 AM
Property Details for 716 Raymond Avenue
Status | Active |
---|---|
MLS # | PW24064015 |
Days on Market | 33 |
Taxes | - |
HOA Fees | - |
Condo/Co-op Fees | - |
Compass Type | Mixed Use |
MLS Type | Residential Income |
Year Built | 1923 |
Lot Size | 0.26 AC / 11,502 SF |
County | Los Angeles County |
Location
Building Information for 716 Raymond Avenue
Stories1Residences-Year Built1923Building Size-Lot Size0.26 AC / 11,502 SF
Payment Calculator
$17,613 per month
The Payment Calculator is for illustrative purposes only.
Property Information for 716 Raymond Avenue
Property History for 716 Raymond Avenue
Date | Event & Source | Price | Appreciation |
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Date | Event & Source | Price |
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For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 716 Raymond Avenue
Taxable ValueLand$796,478Additions$711,359Total$1,507,837
Tax Record2023$21,449 ($1,787 / month)
Home Facts
Total Finished SqFt6,426 SqFtAbove Grade Finished SqFt6,426 SqFtLot Size11,502 SqFtStyleMulti-Family Res (5+ Units)Year Built1923ZoningLBCNRCountyLOS ANGELESAPN7262-021-013
Schools near 716 Raymond 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 |
---|---|---|
Burbank Elementary School PublicK to 5 | ||
Jefferson Leadership Academies School Public6 to 8 | ||
Wilson 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.
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