534 Maine Avenue

Long Beach, CA 90802

$1,250,000
Price
7
Beds
6
Baths
2,630 Sq. Ft.
$475 / Sq. Ft.
2,630
Sq. Ft.
$475
per Sq. Ft.

Description

534 Maine Ave is a 4-unit building, originally built in 1924. This property comprises (3) spacious 2-bedroom units, each approximately 725 square feet, and (1) 1-bedroom unit at 460 square feet. One of the 2-bedroom units are currently vacant offering opportunity for a owner-user. Additionally, there is a 30% potential rental upside, providing an excellent opportunity for income growth with market adjustments. The property has been meticulously maintained and upgraded, reducing the need for substantial...534 Maine Ave is a 4-unit building, originally built in 1924. This property comprises (3) spacious 2-bedroom units, each approximately 725 square feet, and (1) 1-bedroom unit at 460 square feet. One of the 2-bedroom units are currently vacant offering opportunity for a owner-user. Additionally, there is a 30% potential rental upside, providing an excellent opportunity for income growth with market adjustments. The property has been meticulously maintained and upgraded, reducing the need for substantial capital expenditures. The owner has undertaken significant improvements, including modern renovations to all units, creating a fresh, move-in-ready atmosphere. Updated landscaping enhances the curb appeal and ensures low-maintenance upkeep for future ownership. Each unit is individually metered, the owner covers water and sewer costs, while tenants are responsible for gas, trash, and electricity. This is a perfect fit for an investor or owner-user looking for a turnkey, well-located property with major capital improvements already completed, offering immediate cash flow and future upside potential.
  1. Listed by John McCann • DRE #01963932 • Brokerage DRE #01399621 • Lyon Stahl Investment Real Estate, Inc.

Property Details for 534 Maine Avenue

Zoning
LBPPD1
Parcel Number
7278020048
Total Units
4.0
Living Area
2630
Source Living Area
Estimated
Area
Downtown Area, Alamitos Beach (4)
Vacancy Rate
1
Lot Size Area
5015
LISTING UPDATED: 11/12/2024 03:05 PM

Property Details for 534 Maine Avenue

StatusActive
MLS #24-462853
Days on Market7
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1924
Lot Size0.12 AC / 5,015 SF
CountyLos Angeles County

Building Information for 534 Maine Avenue

Stories2Residences-Year Built1924Building Size-Lot Size0.12 AC / 5,015 SF

Property Information for 534 Maine Avenue

Community / Development
Community / Development
  • Number Of Units: 4
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 2
  • Number Of Buildings: 2
  • Type Of Units: Residential
Contract Info
Contract Info
  • Disclosures: None
  • Listing Type: Exclusive Right To Sell
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $88,580
  • Net Operating Income: $62,932.00
  • Gross Income: $91,320
  • Cap Rate: 5.12%
  • Gross Rent Multiplier: $13.51
  • Total Annual Expense: 25649
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.1151
  • Lot Size Square Feet: 5015
Parking Details
Parking Details
  • Parking Garage: On street
  • Total Parking: 0
  • Parking Features: Street
Interior Features
Interior Features
  • Levels: Multi/Split
  • Cooling Type: Air Conditioning
  • Heating Type: Wall Gas
  • Equipment: Cable, Ceiling Fan, Dishwasher, Dryer, Hood Fan, Microwave, Range/Oven, Refrigerator, Washer
  • Interior Features: Ceiling Fan(s)
  • Laundry: In Unit
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 11-12-2024
  • Rent Control: No
Unit Details
Unit 1 Information
  • Unit Beds: 2
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $1,510.00
  • Unit Actual Rent: $1,510.00
  • Unit Projected Rent: $2,700.00
  • Like Units: 1
Unit 2 Information
  • Unit Beds: 2
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $2,700.00
  • Unit Actual Rent: $2,700.00
  • Unit Projected Rent: $2,700.00
  • Like Units: 1
Unit 3 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,600.00
  • Unit Actual Rent: $2,600.00
  • Unit Projected Rent: $2,700.00
  • Like Units: 1
Unit 4 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $900.00
  • Unit Actual Rent: $900.00
  • Unit Projected Rent: $1,900.00
  • Like Units: 1
Unit Details
  • Unit Type Type: 2106, 2107, 2108, 2109
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $311,687.00
  • Assessed Improvement Percent: 30.0
  • Assessed Land Value: $727,273.00
  • Assessed Land Percent: 70
  • Assessed Total Value: $1,038,960.00

Property History for 534 Maine 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 534 Maine Avenue

Taxable ValueLand$741,818Additions$317,920Total$1,059,738
Tax Record2024$13,908 ($1,159 / month)
Home Facts
Total Finished SqFt2,016 SqFtAbove Grade Finished SqFt2,016 SqFtLot Size5,015 SqFtStyleQuadraplexYear Built1924ZoningLBPPD1CountyLOS ANGELESAPN7278-020-048

Schools near 534 Maine 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 - 9 to 12
Rating
School
Distance
Chavez Elementary School
PublicK to 5

Washington Middle School
Public6 to 8

Cabrillo High School
Public9 to 12

Renaissance High School For The Arts
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.

Similar Homes

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534 Maine Avenue is a multi-family home for sale in Long Beach, CA 90802. This property was listed for sale on November 12, 2024 by Lyon Stahl Investment Real Estate, Inc., it's currently listed at $1,250,000. It has been on the market for a total of 7 days and was last sold on May 21, 2018. This listing's school district is Long Beach Unified School District. Nearby schools include Chavez Elementary School, Washington Middle School and Cabrillo High School. 534 Maine Avenue is a 7-bed, 6-bath, 2,630 sqft multi-family home built in 1924.

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 Lyon Stahl Investment Real Estate, Inc., John McCann, DRE #01963932

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.