3922 E Broadway, Long Beach, CA 90803
Property · 2 recorded sales since 2016
Sold May 2018
Listing Agent: Justin White (DRE #01267826) · Listing Office: Justin White · Contact: 714-231-2537 · Bought with: Juli Ackerman · Villa Real Estate · MLS #PW18009119 · Source: CRMLS
About this property
This well-maintained three-unit property is located in the heart of Belmont Heights in the city of Long Beach. The subject property is located at 3922 East Broadway, one street West of Termino Avenue, two blocks North of Ocean Boulevard. This investment consists of 2 one bedrooms/ one-bathroom units and a detached retail portion that offers parking in front of the property. Built in 1923, this property is a two-story building with approximately 2635 rentable square feet. Each unit is separately metered for gas and electricity. The property offers flat roofs, and on-site laundry. The retail portion of the property is located in the approved MM area of Long Beach and will benefit from the strong rents the industry is willing to pay. Located within close proximity to numerous restaurants and shopping corridors this property offers an investor the rare opportunity to acquire a well-maintained income property in a strong rental market in the most desirable community of Belmont Heights. With rents well below market value, and a strong retail operator any investor looking to add value could dramatically improve their cash flow by bumping rents up to market rate thus making this acquisition a valuable addition to any investor’s portfolio.
Listing description from the May 2018 sale, as reported to CRMLS.
Sale history
