807 Belmont Avenue, Long Beach, CA 90804
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- MLS#: PW24206404 ( Apartment )
- Street Address: 807 Belmont Avenue
- Viewed: 7
- Price: $3,925,000
- Price sqft: $0
- Waterfront: No
- Year Built: 1948
- Bldg sqft: 0
- Days On Market: 83
- Additional Information
- County: LOS ANGELES
- City: Long Beach
- Zipcode: 90804
- Subdivision: Belmont Heights (bh)
- Provided by: Justin White
- Contact: Justin Justin
- DMCA Notice
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DescriptionDiscover the exceptional potential of 807 Belmont Ave, a premier multi family property nestled in the coveted Belmont Heights district of Long Beach. This charming two story Spanish style building offers a total of 9 units, with incredible opportunities for expansion and increased revenue. The property comes with Ready to Issue (RTI) plans for two ADU units and the conversion of ?ve enclosed garages into additional 1 and 2 bedroom units, allowing you to maximize the income potential from day one. Situated on a spacious 7,790 SF corner lot, this property features 7,597 SF of rentable space, providing ample room for tenants to enjoy. The serene fenced courtyard, complemented by minimal water vegetation and ample shade, offers a tranquil retreat for residents, perfect for soaking in the refreshing ocean breeze. The well maintained units boast a blend of original charm and modern upgrades, including resurfaced hardwood ?oors, fresh two tone paint, ceiling fans, and new bathrooms. While some units retain their original kitchens and bathrooms, they present an excellent opportunity for further value enhancement, enabling you to achieve market rents through strategic renovations. A standout feature of this property is the ?ve enclosed garages, offering secure and convenient parkinga highly sought after amenity in this area. The current owner has already submitted plans to convert these garages into two additional ADU units, with approved designs for a 2 bedroom/1 bath and a 1 bedroom/1 bath, ready for construction upon closing. Recent improvements, including a new composite shingle roof, fresh paint, and new ?ooring in select units, demonstrate the meticulous care invested in maintaining this property in pristine condition. The potential to convert the non conforming managers unit further adds to the versatility and value of this exceptional investment. Seize this rare opportunity to acquire a highly desirable property with signi?cant upside potential in one of Long Beachs most sought after neighborhoods. 807 Belmont Ave is not just a property; it's a gateway to elevated returns and a thriving community.
Property Location and Similar Properties
Features
Building Area Total
- 6673.00
Commoninterest
- Community Apartment
Common Walls
- 2+ Common Walls
Country
- US
Electric Expense
- 0.00
Fencing
- Excellent Condition
Flooring
- Wood
Foundation Details
- Brick/Mortar
Fuel Expense
- 0.00
Garage Spaces
- 5.00
Gardner Expense
- 1200.00
Heating
- Wall Furnace
Insurance Expense
- 8375.00
Laundry Equipment Own Lease
- Own
Laundry Features
- Common Area
Laundry Income
- 100.00
Levels
- Two
Lot Features
- 6-10 Units/Acre
- Landscaped
- Walkstreet
Netoperatingincome
- 116983.00
Newtaxesexpense
- 46781.00
Number Of Separate Electric Meters
- 10
Number Of Separate Gas Meters
- 10
Otherexpense
- 3000.00
Otherexpensedescription
- Reserves
Parcel Number
- 7254018023
Pool Features
- None
Postalcodeplus4
- 5423
Professionalmanagementexpense
- 10233.00
Property Type
- Apartment
Property Condition
- Updated/Remodeled
Road Frontage Type
- City Street
Road Surface Type
- Alley Paved
Roof
- Composition
- Shingle
Security Features
- Security System
Sewer
- Public Sewer
Sourcesystemid
- CRM
Sourcesystemkey
- 424507205:CRM
Subdivision Name Other
- Belmont Heights (BH)
Tenant Pays
- All Utilities
- Cable TV
- Electricity
- Gas
Totalexpenses
- 81537.00
Trash Expense
- 0.00
Water Sewer Expense
- 0.00
Water Source
- Public
Window Features
- Wood Frames
Year Built
- 1948
Year Built Source
- Public Records
Zoning
- LBR3S