The subject is a seven-unit apartment complex with a prime location in the very desirable Belmont Heights neighborhood of Long Beach. The Property includes two, two-story woodframe and stucco apartment buildings built in 1948 and renovated on multiple occasions. The buildings total 5,554 square feet in size and… Read More are situated on a level, rectangular 5,852 square foot parcel fronting on Belmont Avenue. The front building has four two bedroom/one bath units. The rear building has one studio, one, one bedroom/one bath unit and one three bedroom/two bath unit. There is a landscaped yard at the front of the Property and a shared, landscaped yard between the two buildings as well as a two-car garage served by a rear alley. There are a washer and dryer in the rear building, coin-operated and owned by a service provider.
Belmont Avenue is a quiet, well-landscaped street developed with a mix of single-family and small apartment buildings. Belmont Height is one of the area's most sought-after coastal submarkets with a broad tenant base of young professionals, families and long-term residents. Woodrow Wilson High School is located just three blocks to the east of the Property. The 229-acre, city-owned Recreation Park is located one-quarter mile to the east. The heart of trendy Belmont Shore is one mile to the south. California State University, Long Beach is located one and one-quarter miles to the east. City Beah Bluff Park and Belmont Pier are less than one and one-half mile to the south. Long Beach Municipal Airport is located two and one-half miles to the north. Anduril Industries, a cutting-edge defense technology company specializing in artificial intelligence recently announced that it is commencing a $1 billion redevelopment of land adjacent to the Airport. The project is planned to be completed in mid-2027 and expected to create 5,500 new jobs at the site plus thousands of indirect jobs in construction and supply-chain services.
This is the first offering for sale of the Property since the current Owner acquired it in 1999. The Property is fully-occupied and rarely has vacant units. Current rental rates are well below market and the Property is subject only to State of California rent control. Most tenants occupy units on a month-to-month basis. Read Less
Property listed by Carl Reinhart, Broker, Carl Reinhart 310-259-7556
Listing Snapshot
Days Online
14
Last Updated
Property Type
Apartment
Lot Size
0.13 Acres
Year Built
1948
MLS Number
PW26093660
Additional Details
Building
Built in 1948, 2 buildings, 2 stories, Levels: Two, Entry level: 1, Entry location: Belmont Avenue
Community
Biking, Curbs, DogPark, Fishing, Golf, Hiking, Lake, Park, StreetLights, Suburban, Sidewalks
Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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