Income and expense are using projected market values and put property operating near a projected 6% Cap and 11X Gross (Current estimated 4.43% and 13.3X). Located in the affluent community of Belmont Shore, a Southern California beach community and “college town” being just a few minutes from CSU Long Beach. Both buildings (also for sale with 5290 Division: 8U for $2,150,000) are meticulously cared for, and both have been upgraded with copper plumbing, electrical breakers, and most unit interiors have been upgraded. The investments provide the opportunity to increase your return by increasing the rents to market and separate metering the building utilities, therefore, providing immediate lower overhead/increased cash flow and continued added value in the future with rising utility costs being transferred to the tenants. Laundry is leased and managed by a 3rd party offering further income upside by canceling the contract and installing your own machines. Some units are turning over and may be rented at rates and differ from current income rent roll stated below. Insurance rates stated here are estimates may not be current rate for new owner, so buyer must get own insurance quotes including flood insurance if needed. No parking, street parking only.
Property Details
Price:
$2,750,000
MLS #:
PW25031111
Status:
Active Under Contract
Baths:
0
Address:
102 Argonne Avenue
Type:
Residential Income
Subtype:
Apartment
Subdivision:
Belmont Shore BSD
Neighborhood:
1belmontshoreparknaplesmarinapacbayhrbr
City:
Long Beach
Listed Date:
Apr 24, 2025
State:
CA
ZIP:
90803
Lot Size:
4,966 sqft / 0.11 acres (approx)
Year Built:
1931
See this Listing
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Schools
Interior
Fireplace Features
None
Interior Features
2 Staircases
Exterior
Community Features
Urban
Garage Spaces
0.00
Lot Features
Corner Lot
Parking Features
None, Street
Parking Spots
0.00
Pool Features
None
Roof
Flat
Sewer
Public Sewer
Stories Total
3
Water Source
Public
Financial
Tenant Pays
None
Utilities
Electricity Connected, Natural Gas Connected
Map
Community
- Address102 Argonne Avenue Long Beach CA
- Area1 – Belmont Shore/Park,Naples,Marina Pac,Bay Hrbr
- SubdivisionBelmont Shore (BSD)
- CityLong Beach
- CountyLos Angeles
- Zip Code90803
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102 Argonne Avenue
Long Beach, CA
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