Sold
202 Obispo AVE
LONG BEACH CA, 90803
$8,400,000
$490.77 per sqft
Sold
1 Bed
17,116 sqft
Condo
Built in 1946
Bluff Park Multifamily Portfolio is a 2-property, 37-unit multifamily investment portfolio located in Long Beach, CA. The Bluff Park Multifamily Portfolio offers a mix of studio and one-bedroom units featuring vinyl, tile, and carpet flooring, white appliances, ceiling fans, and walk-in closets. The portfolio also offers amenities including a spacious common area courtyard and on-site laundry facilities. A new owner has the opportunity to substantially increase rental income through the modernization of unit interiors. Through this renovation plan, new ownership will elevate the property to a higher standard of living and will receive a significant increase in monthly rental income. The portfolio s exceptional Bluff Park location places residents within walking distance to an abundance of area amenities including Long Beach City Beach, Bluff Park, Belmont Veterans Memorial Pier, and more. Residents enjoy the properties prime location, adjacent to East Broadway, providing easy access to local boutiques and restaurants. Additionally, the portfolio is situated just over 0.75 miles from Retro Row, providing residents with easy access to some of Long Beach s most unique and vibrant shops and restaurants. Furthermore, the portfolio is just within 1 mile of the abundance of retail, dining, and entertainment options at Belmont Shore s 2nd Street. The portfolio s ideal Long Beach location surrounded by neighborhoods offering a wide variety of outdoor activities as well as employment, transportation, and retail amenities is a primary draw for potential renters. This overall demand for well-located rental units will be a key driver in the continued growth and success at the Bluff Park Multifamily Portfolio.
OC23217796MR
MLSⓇ ID
November 28, 2023
Listed
April 12, 2024
Updated
Map
202 Obispo AVE
LONG BEACH CA, 90803
Interior Features
Total Stories
2
Bedrooms
1 Bed
Laundry Description
Community
Fireplace
No
Cooling
No
Heating
No
Exterior/Building Features
Lot Size
0.3 Acres
Sewer
Public Sewer
Other Property Details
Area Name
Belmont Heights, Alamitos Heights
Days on Market
90
Garage
No
Parking Total
0
View
No
County
Los Angeles
Water Source
Public
Pool
No
Pool Features
None
Zoning
LBR3S
Listing History
Date | Event | Price |
---|---|---|
4/10/2024 | Sold | $8,400,000 |
Listed by Tyler Leeson with Marcus & Millichap RE Invest
Listing Contact: 714-713-9086
Based on information from The MLSTM / Combined LA/Westside Multiple Listing Service, Inc. IDX information is provided exclusively for consumers' personal, non-commercial use, it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All information is deemed reliable but not guaranteed and should be independently reviewed and verified. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. All properties are subject to prior sale, change or withdrawal, and may or may not be listed by the office/agent presenting the information. Neither listing broker(s) nor Rana Madain shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless.
©2024 Combined L.A./Westside MLS. All rights reserved.
Data last updated 4/12/2024