1135 Raymond Avenue, Long Beach, CA 90804
List Price: $2.4M
Listing Status: Active
Original List Price: $2.6M
0Days on Market: 37
16 Bedrooms · 10 Bathrooms · 7,128 sq ft
Property Type: ResidentialIncome
Year Built: 1987
Lot Size: 6,495 sq ft
MLS Number: 26826345
About This Property
9 units in Long Beach built in 1987, NOT subject to rent control, only subject to AB 1482 rent control - maximum annual increase of 5% + CPI (currently 8.7% total). Located in a great location on the East side. Long Beach has undergone major redevelopment with over $8BB of new projects in the past few years. The property is professionally managed and well maintained with onsite laundry. It also features onsite parking for every unit - a rarity in parking impacted Long Beach. The property features an excellent unit mix of 1 and 2 bed units with rents approximately 10% below market. Built in 1987 this property features copper plumbing and modern electrical. Qualified Buyers can obtain a new loan fixed at 5.40% for 5 years, Interest Only. Anduril Industries, a cutting-edge defense technology company specializing in AI applications announced that it is commencing a $1 billion redevelopment of land adjacent to the LB Airport. The project is planned to be completed in mid-2027 and is expected to create 5,500 new direct jobs at the site plus thousands of indirect construction and supply-chain service jobs. The City also approved a $38MM revamp of Long Beach Airport in preperation for the 2028 Olympic games.
Listing provided by: Jonathan Swire DRE #01336277 424-230-3700 jon@jonswire.com, The Agency
Source: CRMLS, MLS #: 26826345
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