NOT LISTED FOR SALE

2203 E Bermuda St Long Beach, CA 90814

North Alamitos Beach Neighborhood
15 Beds
8 Baths
8,364 Sq Ft
5,962 Sq Ft Lot

Last Sold February 14, 2024

Last sale price $2,700,000 $323 Per Sq Ft

19 Days on Market

Highlights

  • 0.14 Acre Lot
  • Central Heating
  • Laundry Facilities
  • Woodrow Wilson High School Rated A
  • 2 Car Garage

About This Home

As of February 2024

This prominently located 1980's multifamily property features very large, townhouse-style units with oversized balconies or patios for every unit and excellent on-site parking. The Property offers investors an incredible value-add opportunity. With rents approximately 40% below projected market rents, an investor can implement a strategic interior and exterior renovation program to capture the strong market rents being achieved for luxury rentals in the immediate neighborhood. In addition, an investor can look into the potential to create ADU's in the parking areas. The property has remote-controlled garage parking for 9 cars as well as a 10th uncovered parking space, all of which are generating income. There are two additional parking garages that are currently rented out for storage. The property also features secured entry at the front and back, as well as a laundry room. It is separately metered for gas and electricity.

Last Agent to Sell the Property

Bryan Glenn

Kidder Mathews of California, Inc. License #01441095 Listed on: 12/17/2023

Last Buyer's Agent

Trey Mitchell

CB Richard Ellis, Inc. License #02060609

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1985

Lot Details

  • 5,962

Parking

  • 2 Car Garage

Interior Spaces

  • 8,364 Sq Ft Home
  • 2-Story Property
  • Dishwasher

Bedrooms and Bathrooms

  • 15 Bedrooms
  • 8 Bathrooms

Additional Features

  • 5,962 Sq Ft Lot
  • Central Heating

Community Details

  • 8 Units
  • Laundry Facilities

Listing and Financial Details

  • Assessor Parcel Number 7263-005-031

Property Details

Home Type

Multi-Family

Year Built

Built in 1985

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Levels: Two
  • Street Number Display: Yes
  • Living Area: 8364
  • Lot Acreage: 0.1369
  • Year Built: 1985
  • State Abbrv: CA
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Stories: 0

Interior Features

  • Bedrooms: 15
  • Laundry: Community
  • Total Bathrooms: 8.00
  • Equipment: Dishwasher
  • Price Per S Q F T: 316.83

Exterior Features

  • Other Structures: None

Garage/Parking

  • Parking Garage: Garage - 1 Car, Garage - 2 Car, Private Garage, Parking Space
  • Total Parking: 12

Utilities

  • Heating: Central

Lot Info

  • Assessed Improvement Percent: 72.34
  • Assessed Improvement Value: 1252379
  • Assessed Land Percent: 27.66
  • Assessed Land Value: 478860
  • Total Assessed Value: 1731239
  • Assessor Parcel Number: 7263-005-031
  • Lot Size Area: 5962

Multi Family

  • Unit Type: 2106, 2107
  • Gross Rent Multiplier: 13.42
  • Number Of Units: 8
  • Type Of Units: Apts
  • Vacancy Allow Percent: 3.00

Range of Values:

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Value Increase
--
Percent Increase
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Adjusted for Inflation
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Average Value
Not Available
List Price
Sold Price
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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 List to Sale Price per Sq Ft
02/14/2024 02/14/24 Sold $2,700,000 +1.9% $323 / Sq Ft
01/05/2024 01/05/24 Pending -- -- --
12/17/2023 12/17/23 For Sale $2,650,000 -- $317 / Sq Ft
Source: The MLS

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • B

    Seller's Agent in 2024

    Bryan Glenn

    Kidder Mathews of California, Inc.

    (858) 369-3010

    1 in this area

    15 Total Sales

    Bryan Glenn
    Section Image

  • T

    Buyer's Agent in 2024

    Trey Mitchell

    CB Richard Ellis, Inc.

    Section Image
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Map

Source: The MLS

MLS Number: 23-340513

The MLS
California Los Angeles County Long Beach 90814 North Alamitos Beach

2203 E Bermuda St, Long Beach, CA

Not Listed for Sale

MultiFamily

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