Price Reduced Listing
1135 Raymond Avenue,Long Beach, CA 90804
Long Beach, CA 90804
Description
PRICE REDUCED - HIGHLY COVETED 1980'S CONSTRUCTION - PRICED AT 9.8 GRM AND 7.0% CAP ON MARKET RENTS for 80's construction. 9 units in Long Beach built in 1987, NOT subject to rent control, only subject to AB 1482 rent control - maximum annual increase of 5% + CPI (currently 8.7% total). Located in a great location on the East side. Long Beach has undergone major redevelopment with over $8BB of new projects in the past few years. The property is professionally managed and well maintained with onsite laundry. It also features onsite parking for every unit - a rarity in parking impacted Long Beach. The property features an excellent unit mix of 1 and 2 bed units with rents approximately 10% below market. Built in 1987 this property features copper plumbing and modern electrical. Qualified Buyers can obtain a new loan fixed at 6.1% for 5 years, Interest Only. Anduril Industries, a cutting-edge defense technology company specializing in AI applications announced that it is commencing a $1 billion redevelopment of land adjacent to the LB Airport. The project is planned to be completed in mid-2027 and is expected to create 5,500 new direct jobs at the site plus thousands of indirect construction and supply-chain service jobs. The City also approved a $38MM revamp of Long Beach Airport in preperation for the 2028 Olympic games.
Details
| MLS # | 26826345 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active |
| Year | 1987 |
| Days On Site | 142 |
| Listing Provided By | The Agency | Jonathan Swire |
Features
| Bed(s) | 16 |
|---|---|
| Bath(s) | 10 |
| SQ Feet | 7,128 |
| Story(s) | 2 |
| Units | 8 |
| Building(s) | 1 |
| Zoning | LBR2N |
| Acreage | 0.15 |
Interior
| Cooling | None |
|---|---|
| Heating | Wall Furnace |
| Heating Yes / No | Yes |
| Cooling Yes / No | No |
Parking
| Parking Features | Assigned |
|---|
Area Information
| State | CA |
|---|---|
| County | Los Angeles |
| City | Long Beach |
| Zip Code | 90804 |
| Area | 3 Eastside | Circle Area |
| Listing VS Median (in 90804) | |
Price: $2,195,000 low | high Med: $1,585,000 sqft: 7,128 low | high Med: 2,914 $ / sqft: $308 low | high Med: $544 On site: 142 low | high Med: 87 | |
Market Activity 90804
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Learn More About This Property
| State | CA |
|---|---|
| County | Los Angeles |
| City | Long Beach |
| Zip Code | 90804 |
| Area | 3 Eastside | Circle Area |
| Listing VS Median (in 90804) | |
Price: $2,195,000 low | high Med: $1,585,000 sqft: 7,128 low | high Med: 2,914 $ / sqft: $308 low | high Med: $544 On site: 142 low | high Med: 87 | |
 | $2,190,0001126 Raymond AvenueLong Beach, CA 90804 |
 | $2,400,0001137 Junipero AvenueLong Beach, CA 90804 |