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  • DESCRIPTION

    We are pleased to present a 16-unit multifamily property located at 311-315 Junipero Avenue located in Long Beach, CA. Built in 1954, the subject property consists of 11,316 rentable square feet spread throughout a 13,000 square foot lot. The building consists of ten 1-bedroom / 1-bathroom units, and six 2-bedroom / 1 -bathroom unit. It contains eight garages and a communal patio for tenants. The units were fully renovated and re-imagined, including creative amenities such as new kitchens & bathrooms, vinyl floors, 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.

    KEY DETAILS
    • Price:
    • $6,000,000
    • Bedrooms:
    • 0
    • Full Baths:
    • 0
    • Square Footage:
    • 11,316
    • Acreage:
    • 0.15
    • Year Built:
    • 1962
    • MLS #:
    • PW21194727
    • Street Address:
    • 311 Junipero Ave
    • City:
    • Long Beach
    • State:
    • CA
    • Postal Code:
    • 90814
    • County:
    • Los Angeles
    • Area:
    • Belmont Shore/Park/Naples/Marina Pac/Bay Hrbr
    • Subdivision:
    • Belmont Park (bp)
    • Listing Status:
    • For Sale - Active

    Building

    • Number Of Units:
    • 16
    • Total # Of Buildings:
    • 2
    • Total Building Square Footage:
    • 11316
    • Walls:
    • 2+ Common Walls
    • Year Built:
    • 1962
    • Year Built Source:
    • Assessor

    Business

    • Annual Electric Expenses:
    • 1458
    • Annual Insurance Expenses:
    • 3195
    • Annual Water/Sewer Expenses:
    • 1459
    • Gross Income:
    • 250036
    • Net Operating Income:
    • 250036
    • Operating Expense:
    • 112059

    Land

    • Approximate Lot Size Range Source:
    • Assessor
    • Conforms To Zoning:
    • Lbr1n
    • Lot Features:
    • 16-20 Units/Acre
    • Lot Size:
    • 6502
    • Lot Square Footage:
    • 6502

    Listing

    • Community Features:
    • Curbs, Sidewalks
    • On Market Date:
    • 2021-09-07
    • Originating Mls:
    • Crmls
    • Terms:
    • Cash, Cash To New Loan, 1031 Exchange

    Location

    • Subdivision:
    • Belmont Park (bp)

    Systems

    • Existing Water:
    • Public
    • Sewage Type:
    • Public Sewer

    Source

    • Listing Provided By Kevin King of Marcus & Millichap

      CACRMLS
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    SCHOOL RATINGS

    No school information available.

    NOTES

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