Property Detail - MLS#P657259

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824 Maine Avenue
Long Beach, CA 90813

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Beds:

Baths:

SqFt:

6,994

Price:

$1,349,000

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Description

Very clean 12 unit pride of ownership building in great rental area of Wilmore/Drake Park. Property had extensive repairs completed with permits in 2004. Eight units have redone kitchens, baths, etc. Large assumable 1st of $925,000. or seller will carry a wrap to qualified buyer. good mix of 3 - 2bd's, 3 - 1bd's (2 of which have a bonus room), and 6 - Singles + 5 garages. 1 storeroom also rented. Rents can increas. All utilities are estimated in the water and sewer catagory. Expenses are estimated at 30% of rent. Great landscaping and overall condition. Market rents in the area are $1099 for 2bd's, $900 for 1bd's, and $765 for studios.

Home Facts

Bedrooms: 0
Full Bathrooms: 0
Half Bathrooms: 0
Living Area: 6,994
Lot Size: --
Type: Multi-Family Home
County: LOS ANGELES
Year Built: 1929
Status: Active
Subdivision: --
Area: --

Interior Features

Accessibility Features: Disability Access: None
Sqft Source: Square Foot Source: Assessor, Building Sqft: 6994
Electric: Electric Meter: 12

Exterior Features

Construction: Exterior Construction: Stucco
Garage/Parking: Number of Parking Spaces: 5, Number of Garages: 5
Lot: Fee for Land Lease , Lot: 3, Lot Size Source: Assessor
Style: Style: Spanish
Building: Buildings: 2
Entry: Entry Locaton: Ground Level - no steps
Location: Cross Street: 4th & Magnolia
Water/Sewer: Water: District/Public

Community Features

Utilities: Gas Meter: 12, Water Meters: 1
Community Details: Builder Tract Name: Drake Park
Financial: Assessment: Downtown Area, , Operating Expenses: 37580, Annual Gross Income: 129948, Income Gross Multiplier: 10.77, Price Per Sqft: 192.88, Insurance Expense: 3000, Gardener Expense: 600, Gross Scheduled Income: 125268, Annual Gross Rent: 125268, License Expense: 240, Tax Expense: 13900, Operating Income: 87688, Water & Sewer Expense: 19840, Gross Monthly Income: 10439

School Information

This Multi-Family Home located at 824 Maine Avenue, Long Beach CA 90813 is currently for sale. 824 Maine Avenue is in the 90813 ZIP code in Long Beach, CA. This property is listed by Martin Stone of Buckingham Investments for $1,349,000. 824 Maine Avenue has 0 beds, 0 baths, approximately 6,994 square feet, and was built in 1929. Dig deeper into Long Beach CA real estate, search 90813 homes for sale.

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Listing information courtesy of: Buckingham Investments
Agent: Martin Stone

© Copyright 2008, SoCalMLS®, © Copyright 2008, CRISNet Regional MLS®.
The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
Any information relating to real estate for sale referenced on this web site comes from the Internet Data Exchange (IDX) program of the SoCalMLS and/or CRISNet Regional MLS.
This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. The accuracy of all information, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. If a listing displays "Short Sale/Subj to Lender Approval**" then that listing has been identified by the seller and the listing broker as a "short sale". This means that, at the listed price, the proceeds from the sale may not be adequate to pay all liens and costs of sale. Any offer made that does not fully cover the existing amount(s) owed to the lienholders(s) plus the costs of sale could be subject to lienholder approval, which approval may be exercised at the sole and exclusive discretion of the lienholder(s).
Data last updated: 11/20/2008.

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