1108 Termino Avenue, Unit 10

Long Beach, CA 90804

$4,650,000
Price
20
Beds
14
Baths
10,158 Sq. Ft.
$458 / Sq. Ft.
10,158
Sq. Ft.
$458
per Sq. Ft.

Description

Discover a hidden gem in Long Beach's Eastside submarket with this exceptional 1980s building. Situated in a highly sought-after, low-vacancy area, the property presents over 18% rental upside potential. Recent improvements include remodeled units in 2021 and an upgraded 15-space parking garage. The building comprises 10 spacious two-bedroom, condo-style apartments, each featuring bright and airy interiors. Upper units offer vaulted ceilings, and all units include large balconies for added comfort....Discover a hidden gem in Long Beach's Eastside submarket with this exceptional 1980s building. Situated in a highly sought-after, low-vacancy area, the property presents over 18% rental upside potential. Recent improvements include remodeled units in 2021 and an upgraded 15-space parking garage. The building comprises 10 spacious two-bedroom, condo-style apartments, each featuring bright and airy interiors. Upper units offer vaulted ceilings, and all units include large balconies for added comfort. Security is enhanced with locked entrances and surveillance cameras throughout the property. The gated garage, with 15 parking spaces, also provides potential for additional income by renting out unused spaces. Other key features include a newer roof with a lifetime guarantee and seller-owned laundry machines. With tenants responsible for their own gas and electricity, operating costs remain low. Conveniently located near freeways and public transportation, this well-maintained, income-generating property offers significant growth potential. Don't miss out on this outstanding investment opportunity in a thriving Long Beach neighborhood!
  1. Listed by Cheong Lee • DRE #02172372 • Brokerage DRE #01425795 • Keller Williams Beverly Hills

Property Details for 1108 Termino Avenue, Unit 10

Zoning
LBR2N
Parcel Number
7254005032
Total Units
10.0
Living Area
10158
Source Living Area
Vendor Enhanced
Area
Eastside, Circle Area (3)
Vacancy Rate
0
Lot Size Area
8561
LISTING UPDATED: 09/23/2024 12:01 AM

Property Details for 1108 Termino Avenue, Unit 10

StatusActive
MLS #24-437011
Days on Market34
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1986
Lot Size0.20 AC / 8,561 SF
CountyLos Angeles County

Building Information for 1108 Termino Avenue, Unit 10

Stories-Residences-Year Built1986Building Size-Lot Size0.20 AC / 8,561 SF

Property Information for 1108 Termino Avenue, Unit 10

Community / Development
Community / Development
  • Number Of Units: 10
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 0
  • Number Of Buildings: 1
  • Type Of Units: Apartment
  • Unit Number: 10
  • Entry Floor Number: 1
Contract Info
Contract Info
  • Disclosures: As Is
  • Listing Type: Exclusive Agency
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $301,000
  • Net Operating Income: $230,236.00
  • Gross Income: $287,796
  • Cap Rate: 5.00%
  • Gross Rent Multiplier: $6.20
  • Actual Gross Annual Income: $287,796
  • Actual Rent Total: $287,088.00
  • Owner Pays: Gardener
  • Total Annual Expense: 57560
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.1965
  • Lot Size Square Feet: 8561
Parking Details
Parking Details
  • Parking Garage: Gated
  • Total Parking: 0
  • Parking Features: Gated
Interior Features
Interior Features
  • Levels: Multi/Split
  • Cooling Type: Air Conditioning, Wall Unit(s)
  • Heating: Wall Furnace
  • Heating Type: Wall
  • Equipment: Other
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 09-15-2024
  • Tenant Pays: Gas, Insurance, Electricity, Cable TV
Unit Details
Unit 1 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,329.00
  • Unit Actual Rent: $13,974.00
  • Unit Projected Rent: $16,070.00
  • Like Units: 6
Unit 2 Information
  • Unit Beds: 2
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $2,487.50
  • Unit Actual Rent: $9,950.00
  • Unit Projected Rent: $10,945.00
  • Like Units: 4
Unit Details
  • Unit Type Type: 2106, 2107
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $1,530,000.00
  • Assessed Improvement Percent: 33.33
  • Assessed Land Value: $3,060,000.00
  • Assessed Land Percent: 66.67
  • Assessed Total Value: $4,590,000.00

Property History for 1108 Termino Avenue, Unit 10

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Schools near 1108 Termino Avenue, Unit 10

This home is within Long Beach Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Public - 9 to 12
Rating
School
Distance
Bryant Elementary School
PublicK to 5

Jefferson Leadership Academies School
Public6 to 8

Wilson High School
Public9 to 12

Richard D. Browning High
Public9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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1108 Termino Avenue, Unit 10 is a multi-family home for sale in Long Beach, CA 90804. This property was listed for sale on September 15, 2024 by Keller Williams Beverly Hills, it's currently listed at $4,650,000. This listing's school district is Long Beach Unified School District. Nearby schools include Bryant Elementary School, Jefferson Leadership Academies School and Wilson High School. 1108 Termino Avenue, Unit 10 is a 20-bed, 14-bath, 10,158 sqft multi-family home built in 1986.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Keller Williams Beverly Hills, Cheong Lee, DRE #02172372

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.