6508 Orange Avenue Long Beach, CA ^$ 1,800,000

6508 Orange Avenue

^$ 1,800,000

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6508 Orange Avenue

Long Beach, CA, 90805

^$ 1,800,000

Bedrooms16 Baths1.0 Sq 5,354

Monthly Estimate*

^$ 11,963

Listed by Morgan Skenderian

6508 Orange Avenue, Long Beach, CA 90805 - Image 1

6508 Orange Avenue, Long Beach, CA 90805 - Image 2

6508 Orange Avenue, Long Beach, CA 90805 - Image 3

6508 Orange Avenue, Long Beach, CA 90805 - Image 4

6508 Orange Avenue, Long Beach, CA 90805 - Image 5

6508 Orange Avenue, Long Beach, CA 90805 - Image 6

6508 Orange Avenue, Long Beach, CA 90805 - Image 7

6508 Orange Avenue, Long Beach, CA 90805 - Image 8

6508 Orange Avenue, Long Beach, CA 90805 - Image 9

Multi-Family Home for sale in Long Beach, CA

for $1,800,000 with 16 bedrooms and 1 full bath. This 5,354 square foot home was built in 1960 on a lot size of 0.13.

Pleased to present 6508 Orange Avenue, a secure 8-unit apartment building in the heart of vibrant Long Beach, California. Built in 1960, the property consists exclusively of two-bedroom/one-bathroom units. For added comfort and convenience, the property features an on-site laundry facility as well as (4) off-street parking spaces for tenants to use. This apartment building offers residents easy access to an array of local amenities including shopping centers, restaurants, entertainment venues, and recreational parks. With convenient access to major transportation routes, commuting to other parts of the city is effortless. Priced at $225,000/unit for this unit mix, this property is one of the more affordable deals on the market. Further, through modernization of the units and increases on current rent levels that are projected to be 53% below market, this property offers phenomenal value appreciation and exceptional future cash-on-cash returns.

Multi-Family Active

Price

^$ 1,800,000

Bedrooms

Full Bath

Property Type

Multi-Family

Taxes

^$ 22,397

Style

Apartment

Lot Size

0.13

Year Built

1960

Town/City

Long Beach

County/Region

Los Angeles

MLS | Web ID

PW24105603

Days on Market

Features

General

Sewer PublicSewer

Zoning LBR4N

Garage Spaces 0.0

Pool Features None

Year Built 1960

Stories 2

Levels Two

Property SubType Apartment

Gross Income 4584.0

Community Features Curbs Gutters Sidewalks

County Los Angeles

Net Operating Income 82410.0

Operating Expense 49494.0

Insurance Expense 3748.0

New Construction N

Property Type ResidentialIncome

HOA / Comm Assn N

Attached Garage N

Subdivision Name North Long Beach (NLB)

Garage Y/N N

Special Listing Conditions Standard

Status Active

Directions South of Artesia Blvd and West of Cherry Ave

City Long Beach

Entry Location 1

View Y/N N

Senior Community Y/N N

Open Parking Spaces 4.0

NumberOfUnitsTotal 8

MLS Area 7 - North Long Beach

Lot Size Units SquareFeet

Lot Size Square Feet 5663.0

Private Pool N

Waterfront Y/N N

Carport Spaces 0.0

Carport Y/N N

Listing Terms Conventional Item1031Exchange Submit

Property Attached Y/N Y

Land Lease Y/N N

Tax Annual Amount 22397.0

Electric Expense 2685.0

Home Warranty Y/N N

Fuel Expense 2685.0

Trash Expense 2685.0

Water Sewer Expense 2685.0

Lease Renewal Y/N N

Additional Parcels Y/N N

Lease Considered Y/N N

Rent Control Y/N N

Days on Market 0

Building Area Units SquareFeet

Standard Status Active

Year Built Source Assessor

Tax Lot 157

Total Actual Rent 10950.0

Property Sub Type Additional Apartment

Taxes 22397.0

Cap Rate 4.6

Exterior

Parking Features Assigned

Lot Features RectangularLot

Water Source Public

Total Parking 4.0

Lot Size Area 5663.0

Number of Buildings 1

Spa N

Building Area Total 5354.0

Lot Size Acres 0.13

Lot Size Source Assessor

Number of Separate Water Meters 1

Number of Separate Gas Meters 9

Number of Separate Electric Meters 9

Crops Included Y/N N

Open Parking Y/N N

Horse Y/N N

Irrigation Water Rights Y/N N

Interior

Total Stories 2

Common Walls Item1CommonWall

Basement (Y/N) N

Air Conditioning Y/N N

Heating Y/N N

Fireplace Y/N N

Laundry Features CommonArea

Entry Level 1

Electric On Property Y/N N

Internal Only

Street Number 1 6508

* Excluded Features

List By

Morgan Skenderian

Broker

(949) 251-8800

Phone

Affordability Calculator

$13,830

Per Month

Monthly Principal & Interest: $11,963
Monthly Property Taxes: $1,866
Monthly Home Insurance: --

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Yearly Home Insurance

Default based on a 30-year fixed rate of 6.99% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

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Nearby

Trends
Schools

Multi-family listings in Long Beach, CA

Average List Price ^$2,052,601

Percent of Sale Price 14%

About Long Beach, CA

470,090 Population

2% Since 2002

^$57,916 Median Income

35.78 Median Age

30% Households with Children

View more area information

Trends Information provided by ATTOM Data Solutions.

273443 Elementary School

272636 Middle School

Unknown High School High School

See complete school information

Pricing History

Date	Price	Price Change	Description
5/24/2024	$1,800,000		Listed Price

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6508 Orange Avenue, Long Beach, CA, 90805 is a Multi-Family Home for sale at $1,800,000 with 5,354 sqft and a lot size of 0.13. 6508 Orange Avenue has 16 bedrooms, 1.0 baths, and was built in 1960. The property's zip code is 90805 which is in Long Beach, CA

*Information deemed reliable but not guaranteed.

Financial calculator disclaimer: Default based on a 30-year fixed rate of 6.99% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

Listing data provided courtesy of the Internet Data Exchange Program of the California Regional Multiple Listing Service, Inc..

Based on information from California Regional Multiple Listing Service, Inc. as of 6/17/2024. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

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6508 Orange Avenue

Multi-Family Home for sale in Long Beach, CA

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