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202 Obispo Avenue, Long Beach, CA 90803
$8,400,000
202 Obispo Avenue, Long Beach, CA 90803View this property at 202 Obispo Avenue, Long Beach, CA 90803
202 Obispo AvenueLong BeachCA90803
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Property Description
Bluff Park Multifamily Portfolio is a 2-property, 37-unit multifamily investment portfolio located in Long Beach, CA. The Bluff Park Multifamily Portfolio offers a mix of studio and one-bedroom units featuring vinyl, tile, and carpet flooring, white appliances, ceiling fans, and walk-in closets. The portfolio also offers amenities including a spacious common area courtyard and on-site laundry facilities. A new owner has the opportunity to substantially increase rental income through the modernization of unit interiors. Through this renovation plan, new ownership will elevate the property to a higher standard of living and will receive a significant increase in monthly rental income. The portfolio's exceptional Bluff Park location places residents within walking distance to an abundance of area amenities including Long Beach City Beach, Bluff Park, Belmont Veterans Memorial Pier, and more. Residents enjoy the properties' prime location, adjacent to East Broadway, providing easy access to local boutiques and restaurants. Additionally, the portfolio is situated just over 0.75 miles from Retro Row, providing residents with easy access to some of Long Beach's most unique and vibrant shops and restaurants. Furthermore, the portfolio is just within 1 mile of the abundance of retail, dining, and entertainment options at Belmont Shore's 2nd Street. The portfolio's ideal Long Beach location surrounded by neighborhoods offering a wide variety of outdoor activities as well as employment, transportation, and retail amenities is a primary draw for potential renters. This overall demand for well-located rental units will be a key driver in the continued growth and success at the Bluff Park Multifamily Portfolio.
Full Property Details
Full Property Details for 202 Obispo Ave
General
- Sold For: $8,400,000
- Status: Closed
- Type: Multi-Family
- MLS ID: OC23217796
- Added to Site: 188 day(s) ago
Rooms
Other Rooms
- Laundry: Community
Additional Information
- Pool Description: None
Location
- Area: 699 - Not Defined
- County: Los Angeles
- Development Name: 699 - Not Defined
- Driving Directions: Cross Streets: Cherry Avenue & East 2nd Street
Utilities
- Sewer: Public Sewer
- Water: Public
- # Water Meters: 1
- # Gas Meters: 18
- # Electric Meters: 18
Structural Information
- Entry Location: First Level
- Stories/Levels: Two
- Stories Description: Two
- Square Feet: 17,116
- Year Built: 1946
Unit Information
Unit 1
- Number of Units: 26
- Total Bathrooms: 1
Unit 2
- Number of Units: 11
- Total Bathrooms: 1
- Bedrooms: 1
Lot Features
- Lot Size (Acres): 0.3
- Lot Size Source: Assessor
- Zoning: LBR3S
- Lot Description: Level with Street
Financial Considerations
- Price Per Sq. Ft.: $490.77
- Price Per Unit: 235135
Disclosures and Reports
- Buyer’s Brokerage Compensation: 2%
Listed and Sold by Marcus & Millichap RE Invest, Tyler Leeson
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Schools
Schools serving 202 Obispo Ave
School District:Long Beach Unified School District
Rating | Name | Grades | Distance |
---|---|---|---|
257 Coronado Ave, Long Beach, CA 90803 | PK-5 | 0.2 mi | |
750 Euclid Ave, Long Beach, CA 90804 | 6-8 | 0.9 mi | |
4400 E 10th St, Long Beach, CA 90804 | 9-12 | 1.2 mi |
Disclaimer: School ratings provided by
GreatSchools. Ratings are on a scale of 1-10.
Learn more about GreatSchools ratings.
School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 202 Obispo Ave
Date
Details
Price
Change
Source
4/10/2024
Sold
$8,400,000
-3.45%
MLS
1/29/2024
Price Reduced
$8,700,000
-7.45%
MLS
11/28/2023
Listed
$9,400,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
202 Obispo Avenue, Long Beach, CA 90803 (MLS# OC23217796) is a Multi-Family property that was sold at $8,400,000 on April 10, 2024. Want to learn more about 202 Obispo Avenue? Do you have questions about finding other Multi-Family real estate for sale in Long Beach? You can browse all Long Beach real estate or contact a Coldwell Banker agent to request more information.