$6,000,000
$6,000,000
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6,503 Sqft Lot
SOLD DATE : 12/08/2021
Key Details
Sold Price $6,000,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Subdivision Belmont Park (Bp)
MLS Listing ID PW21194727
Sold Date 12/08/21
HOA Y/N No
Year Built 1962
Lot Size 6,503 Sqft
Property Description
We are pleased to present a 16-unit multifamily property located at 311-315 Junipero Avenue located in Long Beach, CA. Built in 1954, the subject property consists of 11,316 rentable square feet spread throughout a 13,000 square foot lot. The building consists of ten 1-bedroom / 1-bathroom units, and six 2-bedroom / 1 -bathroom unit. It contains eight garages and a communal patio for tenants.
The units were fully renovated and re-imagined, including creative amenities such as new kitchens & bathrooms, vinyl floors, and open living areas. The layout for each unit was redesigned to maximize living space, emphasize natural light, and to accentuate modern architectural elements.
Tenants enjoy living between Downtown Long Beach and Belmont Shore, a short distance to local beaches, California State University of Long Beach, as well as shopping, restaurants, and nightlife. The city of Long Beach continues to progress forward and is currently experiencing major redevelopment. The Long Beach port is undergoing $4.4 billion in future redevelopment that will create 14,000 new and permanent jobs in Southern California. The city is undergoing a building boom with more than $5 billion in private and public investments in various stages of development. The new $520 million Long Beach Civic Center development will house a new City Hall, Port of Long Beach headquarters and the Main Library. Long Beach sustains its ability to attract renters due to its strong economy and quality of life.
Location
State CA
County Los Angeles
Area 1 - Belmont Shore/Park, Naples, Marina Pac, Bay Hrbr
Zoning LBR1N
Interior
Fireplace No
Laundry None
Exterior
Pool None
Community Features Curbs, Sidewalks
Private Pool No
Building
Lot Description Item1620UnitsAcre
Sewer PublicSewer
Water Public
New Construction No
Others
Senior Community No
Tax ID 7263006033
Energy Description 1459.0
Acceptable Financing Cash, CashtoNewLoan, Item1031Exchange
Listing Terms Cash, CashtoNewLoan, Item1031Exchange
Financing CashtoNewLoan
Special Listing Condition Standard
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Bought with Pat Swanson • Pat Swanson
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Broker Associate | Lic# 01905244