Address
1622 Orange Avenue Long Beach, CA
Price
$ 1,997,500
Property Attributes
  • MLS#SW20156343
  • TypeIncome
  • CountyLOS ANGELES
  • CityLong Beach
  • AreaPoly High
  • NeighborhoodPoly High
  • Zip90813
  • Style
  • Price$ 1,997,500
  • Bedrooms6
  • Full Bathrooms6
  • Half Bathrooms0
  • Lot Size5,985 SqFt
Listing Provided Courtesy Of:
Roark Merrill with Signature Real Estate, Inc..
Data Source:
CRMLS
Property Description

Wonderful opportunity for a turnkey income property with long term tenants. The property consists of 5 two bedroom apartments and one huge commercial. The 2 bedroom apartments have been remodeled with quality materials and are wonderfully designed. There is a parking lot behind the rear apartment building with parking for 10 cars. There are 4 additional parking spaces between the restaurant and the rear building. The restaurant is amazing. The restaurant was build newly just 2 years ago. The concrete floors were removed and was literally designed and built from scratch. The restaurant kitchen was taken all the way down to the dirt, new plumbing and electrical, all new hood and fire suppression system. Beautiful new glass front entry with roll down steel door for added security. the restaurant tenant owns other restaurants and a bakery and is very skilled. La Espiranza was just listed as one of the top 10 underrated restaurants in Long Beach. The restaurant is currently is open and has wonderful outside seating. Never will you find such a new restaurant with apartments at this price. Over $200,000 was recently invested in the restaurant space alone.

Price History
8/5/2020 Listed $2,100,000
10/22/2020 5% - $1,997,500

General Features

Community Features Curbs, Urban
Listing Agent Roark Merrill - BRE#01299364
Listing Agent State License 01299364
MLS Area 9 - Poly High
Parking Features Asphalt, Off Street, One Space, Uncovered
Pool Features None
Property Attached Y/N Yes
Property Type Residential Income
Sewer Public Sewer
Subdivision Name Poly High (PH)
Terms Cash, Cash to Existing Loan, Cash to New Loan, Conventional, 1031 Exchange
Total Units 6
Water Sewer Expense 2400
Zoning LBR34

Interior Features

Common Walls 2+ Common Walls
Laundry Features See Remarks

Exterior Features

Lot Features 6-10 Units/Acre
Lot Size Acres 0.14
Lot Size Area 5985
Lot Size Source Assessor
Lot Size Square Feet 5985
Lot Size Units Square Feet
Number of Buildings 2
Number of Separate Electric Meters 6
Number of Separate Gas Meters 6
Number of Separate Water Meters 1
Water Source Public

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Master On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Zip Code Average in 90813

Price
AVG $1.48M
$2M
Visits
AVG 118
415
Year Built
AVG 1935
1963
Walkscore
AVG 89
90
Data Provided by Walkscore ® not using MLS data

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