NOT LISTED FOR SALE

1410 Coronado Ave Long Beach, CA 90804

Zaferia Neighborhood
3 Beds
3 Baths
7,770 Sq Ft
6,881 Sq Ft Lot

Last Sold June 27, 2023

Last sale price $3,250,000 $418 Per Sq Ft

102 Days on Market

Highlights

  • Gated Parking
  • Property is near public transit
  • Laundry Room
  • Woodrow Wilson High School Rated A
  • No HOA
  • Garage

About This Home

As of June 2023

The Coronado Avenue Apartments is a nine-unit apartment building located in the City of Long Beach, a premier rental market in Los Angeles County, California.

Built in 1987, the subject property offers an attractive unit mix comprised of (8) two-bedroom/ two-bathroom units and (1) one-bedroom/ one-bathroom unit totaling 7,770 square feet. Some amenities include gated entry, ample on-site gated parking, on-site laundry room, and balconies. Some recent renovations and upgrades include new floors, new bathrooms, and updated kitchens.

This offering represents a rare opportunity for an investor to achieve a 5.1% CAP Rate on current income, for a stable, turnkey investment property in the desirable rental market of Long Beach, California. Additionally, The Coronado Avenue Apartments are well suited to provide investors with strong returns and value appreciation over the long-term investment horizon.

Last Agent to Sell the Property

Greg Bassirpou

Marcus & Millichap RE Invest License #01365951 Listed on: 03/13/2023

Last Buyer's Agent

Tal Yona

RE/MAX One License #01149756

RE/MAX One

Property Details

Home Type

  • Apartment

Year Built

  • Built in 1987

Lot Details

  • 6,881 Sq Ft Lot
  • No Common Walls

Interior Spaces

  • 7,770 Sq Ft Home
  • 1-Story Property
  • Laundry Room

Bedrooms and Bathrooms

  • 3 Bedrooms
  • 3 Bathrooms

Parking

  • Garage
  • Parking Available
  • Gated Parking

Location

  • Property is near public transit

Listing and Financial Details

  • Tax Lot 11
  • Tax Tract Number 44
  • Assessor Parcel Number 7259007025
  • $1,734 per year additional tax assessments

Community Details

Overview

  • No Home Owners Association
  • 9 Units

Amenities

  • Laundry Facilities

Building Details

  • Rent Control
  • 9 Separate Electric Meters
  • 9 Separate Gas Meters
  • 1 Separate Water Meter
  • Insurance Expense $3,750
  • Trash Expense $1,950
  • Water Sewer Expense $1,950
  • Operating Expense $65,200
  • Gross Income $244,752
  • Net Operating Income $172,209

Property Details

Home Type

Apartment

Year Built

Built in 1987

Lot Details

0

Listing Details

  • CapRate: 5.14
  • Price Per Unit: 372222
  • Property Attached: No
  • Water Sewer Expenses: 1950.00
  • Zoning: LBR2N
  • Property Sub Type: Apartment
  • Property Type: Residential Income
  • Parcel Number: 7259007025
  • Year Built: 1987
  • Special Features: None

Interior Features

  • Stories: 1
  • Common Walls: No Common Walls
  • Levels: One
  • Price Per Square Foot: 418.28

Exterior Features

  • Pool Private: No

Garage/Parking

  • Parking: Yes
  • Parking Features: Garage, Gated

Utilities

  • Laundry: Yes
  • Laundry Features: Common Area
  • Sewer: Public Sewer
  • Trash Expense: 1950.00
  • Water Source: Public

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Common Interest: Community Apartment
  • Community Features: Sidewalks

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: Near Public Transit
  • Lot Size Sq Ft: 6881.00
  • Lot Size Acres: 0.1580

Multi Family

  • Gross Income: 244752.00
  • Gross Multiplier: 13.69
  • Gross Scheduled Income: 242592.00
  • Insurance Expense: 3750.00
  • Laundry Income: 2160.00
  • Lot Size Area: 6881.0000 Square Feet
  • Net Operating Income: 172209.00
  • Number Of Separate Electric Meters: 9
  • Number Of Separate Gas Meters: 9
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 9
  • Operating Expense: 65200.00
  • Rent Control: Yes
  • Total Expenses: 65200.00
  • Vacancy Allowance: 7343
  • Vacancy Allowance Rate: 3.00

Tax Info

  • Tax Census Tract: 5751.03
  • Tax Lot: 11
  • Tax Tract Number: 44
  • TaxOtherAnnualAssessmentAmount: 1734.00

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price Change Sq Ft Price
06/27/2023 06/27/23 Sold $3,250,000 -3.0% $418 / Sq Ft
03/13/2023 03/13/23 For Sale $3,350,000 -- $431 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Greg Bassirpou

    Seller's Agent in 2023

    Greg Bassirpou

    Marcus & Millichap RE Invest

    (949) 419-3269

    1 in this area

    32 Total Sales

    Greg Bassirpou
    Section Image
  • Tal Yona

    Buyer's Agent in 2023

    Tal Yona

    RE/MAX

    (818) 571-4477

    1 in this area

    16 Total Sales

    Tal Yona
    Section Image
See All Agents

Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: OC23041836

California Regional Multiple Listing Service (CRMLS)
California Los Angeles County Long Beach 90804 Zaferia

1410 Coronado Ave, Long Beach, CA

This home is located at 1410 Coronado Ave, Long Beach, CA 90804 since 13 March 2023. This property was built in 1987. 1410 Coronado Ave is a home located in Los Angeles County with nearby schools including Nieto Herrera Elementary School, Woodrow Wilson High School, and Maple Village Waldorf School.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

California Regional Multiple Listing Service (CRMLS) The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.

Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information

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