241 Lindero AVE, Long Beach, CA 90803
241 Lindero AVE, Long Beach, CA 90803
241 Lindero AVE, Long Beach, CA 90803
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Leon Borunda

Leon Borunda

+1(559) 779-6540
$1,800,000
Est. payment /mo
6,107 Sqft Lot
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Key Details

Property Type Multi-Family

Sub Type Quadruplex

Listing Status Active

Purchase Type For Sale

Subdivision Bluff Heights

MLS Listing ID PW26062713

Construction Status Updated/Remodeled,Turnkey

HOA Y/N No

Year Built 1969

Lot Size 6,107 Sqft

Property Sub-Type Quadruplex

Property Description

Prime Long Beach income property located in the highly desirable Belmont Heights / Bluff Heights area, just off Broadway, offering an exceptional opportunity for investors seeking a coastal multifamily asset. With a Walk Score of 94 out of 100, this highly walkable fourplex is approximately 0.3 miles to the beach and conveniently close to Belmont Shore and Shoreline Village, providing easy access to dining, shopping, and entertainment. This well-maintained 4-unit property consists of approximately 4,032 square feet of living space on a 6,109 square foot lot and was built in 1969. The property features a strong unit mix of one spacious 3-bedroom, 2-bath unit and three 2-bedroom, 1-bath units, spread across two levels. One unit is currently vacant, offering immediate flexibility for an owner-occupant or the ability to lease at current market rent and increase cash flow. One of the units has recently been updated with a brand-new kitchen, flooring, and bathroom, enhancing overall tenant appeal. Recent improvements include a roof replacement completed within the past few years. The property is also scheduled for termite clearance and exterior painting, providing a refreshed and updated appearance for future ownership. The rear of the property features two 2-car garages, with each unit assigned one garage space, plus an additional dedicated parking space for the 3-bedroom unit, totaling five parking spaces. Ample street parking adds further convenience, which is a valuable feature in this highly sought-after Long Beach location. Priced at approximately $446 per square foot, this Long Beach multifamily property offers strong in-place income with upside potential. Based on current rents, the property is performing at approximately a 4.8% cap rate, with the ability to increase to roughly 6%+ once the vacant unit is leased at market rent. Ideal for investors searching for a fourplex near the beach, a Long Beach income property with strong rental demand, or a value-add multifamily opportunity in one of the most desirable coastal communities in Los Angeles County.

Location

State CA

County Los Angeles

Area 2 - Belmont Heights, Alamitos Heights

Zoning LBR2A

Interior

Interior Features Ceiling Fan(s), Open Floorplan

Heating Radiant

Flooring Carpet, Laminate

Fireplaces Type None

Fireplace No

Appliance Electric Range, Free-Standing Range, Disposal, Range Hood, Water Heater

Laundry Common Area, Inside

Exterior

Exterior Feature Lighting, Rain Gutters

Parking Features Concrete, Door-Multi, Driveway, Garage, Garage Door Opener, Garage Faces Rear, One Space, Uncovered

Garage Spaces 4.0

Garage Description 4.0

Fence Block, Wood

Pool None

Community Features Curbs, Storm Drain(s), Street Lights, Sidewalks, Park

Utilities Available Electricity Connected, Natural Gas Connected, Phone Connected, Sewer Connected, Water Connected

View Y/N Yes

View Neighborhood

Roof Type Composition

Accessibility No Stairs

Total Parking Spaces 5

Private Pool No

Building

Lot Description 2-5 Units/Acre, Front Yard, Near Park, Near Public Transit, Walkstreet

Faces West

Story 2

Entry Level Two

Foundation Slab

Sewer Public Sewer

Water Public

Architectural Style Traditional

Level or Stories Two

New Construction No

Construction Status Updated/Remodeled,Turnkey

Others

Senior Community No

Tax ID 7263009009

Security Features Carbon Monoxide Detector(s),Smoke Detector(s)

Acceptable Financing Cash, Cash to New Loan, Conventional, FHA, VA Loan

Listing Terms Cash, Cash to New Loan, Conventional, FHA, VA Loan

Special Listing Condition Standard, Trust

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Listed by Jon Perez First Team Real Estate 714-865-3035, DRE #01405984

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Leon Borunda

Leon Borunda

+1(559) 779-6540

Realtor | License ID: 01818465

Realtor License ID: 01818465

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