534 Maine Ave Save Request In-Person Tour Request Virtual Tour
Long Beach,CA 90802
Key Details
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Active Under Contract
Purchase Type For Sale
Square Footage 2,630 sqft
Price per Sqft $475
MLS Listing ID 24-462853
Bedrooms 7
Year Built 1924
Lot Size 5,015 Sqft
Property Description
534 Maine Ave is a 4-unit building, originally built in 1924. This property comprises (3) spacious 2-bedroom units, each approximately 725 square feet, and (1) 1-bedroom unit at 460 square feet. One of the 2-bedroom units are currently vacant offering opportunity for a owner-user. Additionally, there is a 30% potential rental upside, providing an excellent opportunity for income growth with market adjustments. The property has been meticulously maintained and upgraded, reducing the need for substantial capital expenditures. The owner has undertaken significant improvements, including modern renovations to all units, creating a fresh, move-in-ready atmosphere. Updated landscaping enhances the curb appeal and ensures low-maintenance upkeep for future ownership. Each unit is individually metered, the owner covers water and sewer costs, while tenants are responsible for gas, trash, and electricity. This is a perfect fit for an investor or owner-user looking for a turnkey, well-located property with major capital improvements already completed, offering immediate cash flow and future upside potential.
Location
State CA
County Los Angeles
Area Downtown Area, Alamitos Beach
Zoning LBPPD1
Rooms
Other Rooms None
Interior
Heating Wall Gas
Cooling Air Conditioning
Equipment Cable, Ceiling Fan, Dishwasher, Dryer, Hood Fan, Microwave, Range/Oven, Refrigerator, Washer
Laundry In Unit
Exterior
Parking Features On street
Building
Story 2
Others
Special Listing Condition Standard