Sold
Closed
202 Obispo Avenue
Long Beach CA, 90803
$8,400,000
$490.77 per sqft
Sold
Closed
17,116 sqft
Condo
Built in 1946
Listed by Tyler Leeson with Marcus & Millichap RE Invest 714-713-9086
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.
OC23217796
MLSⓇ ID
November 28, 2023
Listed
August 30, 2024
Updated
Map
202 Obispo Avenue
Long Beach CA, 90803
Interior Features
Total Stories
2
Laundry Description
Common Area
Fireplace
No
Cooling
No
Heating
No
Exterior/Building Features
Lot Size
0.3 Acres
Lot Features
Street Level
Sewer
Public Sewer
Other Property Details
Area Name
699 - Not Defined
Days on Market
90
Garage
No
Parking Total
0
View
No
County
Los Angeles
Water Source
Public
Pool
No
Pool Features
None
Zoning
LBR3S
Listing History
Date | Event | Price |
---|---|---|
4/10/2024 | Sold | $8,400,000 |
3/13/2024 | Pending | — |
2/29/2024 | Under contract | — |
1/29/2024 | Price change | $8,700,000 -8% |
Listing Contact: 949-419-3200
Based on information from the California Regional Multiple Listing Service (CRMLS) as of 8/30/2024. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.
©2024 California Regional Multiple Listing Service (CRMLS) all rights reserved.
Data last updated on 8/30/2024 at 7:49 PM UTC