5401 E Anaheim Road

    Long Beach, CA 90815
    • $9,850,000
    • STATUS: Active
    • ON SITE: 63 days
    • ID#: PW19284534
    Price Reduced
    UPDATED: 165 min ago
    $9,850,000
    • 0
      BEDS
    • 0.38
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 21,724
      SQFT
    • $453
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1987
    County:

    School Ratings & Info

    Description

    5401 E. Anaheim Road is a truly rare investment opportunity located in Park Estates, a quiet, upscale residential area, and one of Long Beach's most prestigious neighborhoods. Primarily comprised of custom-built single family homes on tree-lined streets, the median home price in this suburban enclave is over $1.2 million. This asset is one of the largest apartment buildings in Park Estates. While almost all of the two-bedroom units (21 of 22) have been completely remodeled, offering bright, open, modern interiors, the property's exterior and community spaces provide an opportunity for repositioning to take this singular asset to the next level. The property's superior location and unit mix can be enhanced by modernizing and expanding the scope and uses of common area spaces to make a stronger impression on prospective tenants and realize higher rents.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2020-02-23T00:26:41.033. 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 deemed reliable but is not guaranteed accurate by the MLS or Steele Canyon Realty. Licensed in the State of California, USA.

    www.steelecanyonrealty.com/homes/101857124

    5401 E Anaheim Road Long Beach, CA 90815

    • Price: $9,850,000
    • Status: Active
    • Updated: 165 min ago
    • ID#: PW19284534
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.38
    Acres
    21,724
    SQFT
    $453
    $/SQFT
    1987
    Built
    Neighborhood:
    Park Estates (Pe)
    County:
    Los Angeles
    Area:
    36 - Park Estates
    Property Description
    5401 E. Anaheim Road is a truly rare investment opportunity located in Park Estates, a quiet, upscale residential area, and one of Long Beach's most prestigious neighborhoods. Primarily comprised of custom-built single family homes on tree-lined streets, the median home price in this suburban enclave is over $1.2 million. This asset is one of the largest apartment buildings in Park Estates. While almost all of the two-bedroom units (21 of 22) have been completely remodeled, offering bright, open, modern interiors, the property's exterior and community spaces provide an opportunity for repositioning to take this singular asset to the next level. The property's superior location and unit mix can be enhanced by modernizing and expanding the scope and uses of common area spaces to make a stronger impression on prospective tenants and realize higher rents.
    Exterior Features

    Garage Spaces 0.00 Lot Features 21-25 Units/Acre Lot Size Source Assessor Lot Size Units Square Feet Parking Features Subterranean Parking Total 44.00 Parking YN Yes Pool Features None Pool Private YN No Property Attached YN Yes

    Interior Features

    Average Studio Area Units Square Feet Average1 Bed Area Units Square Feet Average2 Bed Area Units Square Feet Average3 Bed Area Units Square Feet Common Walls 2+ Common Walls Laundry Features Individual Room Levels Two

    Property Features

    Additional Parcels YN No Building Area Units Square Feet Community Features SidewalksUrban Country Us Electric Expense 3025.00 Elevation Units Feet Fuel Expense 3025.00 Gardener Expense 2477.00 Gross Income 594112.00 Gross Scheduled Income 612487.00 Insurance Expense 8690.00 Land Lease YN No Laundry YN Yes Licenses Expense 1624.00 Maintenance Expense 12100.00 Net Operating Income 405205.00 New Construction YN No New Taxes Expense 122643.00 Number Of Separate Electric Meters 22 Number Of Separate Gas Meters 22 Number Of Separate Water Meters 1 Operating Expense 188907.00 Other Expense 3850.00 Other Expense Description Reserves Pest Control Expense 1000.00 Professional Management Expense 24423.00 Rent Control YN No Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Subdivision Name Other Park Estates (Pe) Total Expenses 192529.00 Trash Expense 3025.00 Water Sewer Expense 3025.00 Water Source Public Year Built Source Assessor Zoning Lbr4r

    Listing provided courtesy of Robert Stepp of Keller Williams Pacific Estate and Todd Hawke of Keller Williams Pacific Estate


    Based on information from California Regional Multiple Listing Service, Inc. as of 2020-02-23T00:26:41.033. 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 deemed reliable but is not guaranteed accurate by the MLS or Steele Canyon Realty. Licensed in the State of California, USA.

     
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