1660 Park Avenue

Long Beach, CA 90815

$3,100,000
Price
2
Beds
9
Baths
7,551 Sq. Ft.
$411 / Sq. Ft.
7,551
Sq. Ft.
$411
per Sq. Ft.

Description

1660 Park Avenue is a 9-unit multifamily investment property located in Long Beach, CA. 1660 Park Avenue offers a highly desirable mix of exclusively two-bedroom units averaging 839 square feet. The property features amenities including 4 single-car garages, each with a tandem surface space, screen doors, and an on-site laundry facility. Current ownership has recently invested significant capital into upgrades including a new roof and an upgraded main sewer line. 1660 Park Avenue is situated in the...1660 Park Avenue is a 9-unit multifamily investment property located in Long Beach, CA. 1660 Park Avenue offers a highly desirable mix of exclusively two-bedroom units averaging 839 square feet. The property features amenities including 4 single-car garages, each with a tandem surface space, screen doors, and an on-site laundry facility. Current ownership has recently invested significant capital into upgrades including a new roof and an upgraded main sewer line. 1660 Park Avenue is situated in the highly sought-after Park Estates neighborhood of Long Beach. Residents enjoy the property’s prime Long Beach location, with an abundance of hot spots within a 1.5-mile radius of the property. The property is within walking distance of numerous major retail centers surrounding the Los Alamitos Traffic Circle. Additionally, the property is situated in close proximity of both California State University, Long Beach and the Timor Rubin VA Medical Center, two major housing and employment drivers for the city. Furthermore, the property’s close proximity to Recreation Park and the Alamitos Bay provides residents with easy access to an abundance of recreation and leisure activities. The property’s ideal Long Beach location surrounded by an abundance of recreational, educational, and retail amenities are 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 1660 Park Avenue.
  1. Listed by Tyler Leeson • DRE #01451551 • Brokerage DRE #00530854 • Marcus & Millichap RE Invest • tleeson@marcusmillichap.com

Property Details for 1660 Park Avenue

Parking Spaces Total
8
Private Pool
No
Total Units
9.0
Building Type
Detached
Lot Size Source
Assessor
Living Area
7551
Assessor Parcel Number
7220-003-012
Property Attached YN
false
LISTING UPDATED: 10/14/2024 07:05 AM

Property Details for 1660 Park Avenue

StatusActive
MLS #OC24187219
Days on Market106
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1961
CountyLos Angeles County

Building Information for 1660 Park Avenue

Building/Complex1660 Park AveFloor-Stories2Residences-Pet Policy-Year Built1961Building Size-

Property Information for 1660 Park Avenue

Income / Expense / Tax Details
Income Details
  • Gross Income: $279,149
  • Gross Scheduled Income: $276,456
  • Vacancy Allowance: 8294
  • Vacancy Allowance Rate: 3
  • Gross Operating Income: $268,162
  • Net Operating Income: $191,392
  • Other Income Description: Misc
  • Other Income 1: $2,693
  • Gross Multiplier: 11.11
  • Cap Rate: 6.17
Expense Details
  • Operating Expense: $79,464
  • Operating Expense Percent: 29.30%
  • New Taxes Expense: $38,573
  • Fuel Expense: $1,682
  • Electric Expense: $1,682
  • Insurance Expense: $7,200
  • Maintenance Expense: $6,750
  • Professional Management Expense: $13,543
  • Other Expense: $6,668
  • Other Expense Description: Misc
  • Trash Expense: $1,682
  • Water Sewer Expense: $1,684
  • Total Expenses: $79,464
Tax / Assessment Info
  • Tax Tract Number: 15865
  • Tax Census Tract: 5749.02
  • CFD/Mello-Roos Fee: $1,868
  • Tax Lot: 41
Community / Development
Community / Development
  • Community Features: Curbs, Gutters, Sidewalks
Property / Structure Info
Interior Features
  • Laundry: Yes
  • Laundry Features: Community
Exterior Features
  • Entry Location: First level
  • Pool Features: None
  • Pool Description: None
  • Pool: N/K
Land/Lot Info
  • Lot Features: Level with Street
  • Number Of Units: 9
  • Land Lease: No
  • Land Lease Type: Fee
  • Topography: Level
  • Levels: One
  • Water: Public
  • Sewer: Public Sewer
  • Water Source: Public
Parking Info
  • Garage Spaces: 4
  • Uncovered Spaces: 4
  • Open Other Spaces Total: 4
  • Parking Garage Spaces: 4
  • Carport Spaces: 0
Property / Structure Info
  • Builders Tract Name: Circle
  • Builders Tract Code: Circle (CA)
Unit Information
Unit 1
  • Unit Type Units Total: 9
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 4
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $23,038
  • Unit Type Total Rent: $23,038
  • Unit Type Pro Forma: 26100
  • Unit Type Type: 1
Unit Information
  • Rent Controlled: No
  • Number Of Buildings: 1
  • Number Of Separate Electric Meters: 9
  • Number Of Separate Gas Meters: 9
  • Number Of Separate Water Meters: 1

Property History for 1660 Park Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

Public Records for 1660 Park Avenue

Taxable ValueLand$1,774,800Additions$958,800Total$2,733,600
Tax Record2024$35,819 ($2,985 / month)
Home Facts
Total Finished SqFt7,551 SqFtAbove Grade Finished SqFt7,551 SqFtLot Size7,791 SqFtStyleMulti-Family Res (5+ Units)Year Built1961ZoningLBR4RCountyLOS ANGELESAPN7220-003-012

Schools near 1660 Park Avenue

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 - 7 to 12
Rating
School
Distance
Bixby Elementary School
PublicK to 5

Stanford Middle School
Public6 to 8

Wilson High School
Public9 to 12

Select Community Day (Secondary) School
Public7 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.

Similar Homes

Sorry, we can't find any similar homes at this time. Please check back later.

Similar Sold Homes

Sorry, we can't find any similar sold homes at this time. Please check back later.

1660 Park Avenue is a multi-family home for sale in Long Beach, CA 90815. This property was listed for sale on September 9, 2024 by Marcus & Millichap RE Invest, it's currently listed at $3,100,000. This listing's school district is Long Beach Unified School District. Nearby schools include Bixby Elementary School, Stanford Middle School and Wilson High School. 1660 Park Avenue is a 2-bed, 9-bath, 7,551 sqft multi-family home built in 1961.

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 Marcus & Millichap RE Invest, Tyler Leeson, DRE #01451551

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.