NOT LISTED FOR SALE

620 Coronado Ave Long Beach, CA 90814

Bluff Heights Neighborhood
-- Bed
-- Bath
-- Sq Ft
-- Built

Last Sold May 16, 2018

Last sale price $4,850,000

About This Home

VALUE-ADD INVESTMENT - OVER 55% UPSIDE POTENTIAL.

620 Coronado Avenue is an 18-unit multifamily investment property located in the Belmont Heights neighborhood of Long Beach. This is the first time the building has been on the market in decades and presents investors with a rare opportunity to acquire a true value-add apartment asset with over 55% rental upside potential.

Situated on a 0.31-acre lot, the 15,364 square foot property consists of one-bedroom and two-bedroom floor plans averaging over 850 square feet. The two-bedroom units make up 78% of the total units within the building. 620 Coronado offers amenities including nine garages, controlled access, a spacious courtyard and on-site laundry. In addition, the building is within walking distance to numerous local and national retail stores and only one mile from the beach.

Given the strength of the overall apartment market within the city of Long Beach, 620 Coronado offers an investor the ability to capture tenants seeking a great beach neighborhood with convenient access to a wide variety of activities, transportation and retail amenities. This overall demand will be the driver in creating a very strong apartment investment at 620 Coronado Avenue.

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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 Prior Sale
05/16/2018 05/16/18 Sold $4,850,000 -0.9% $316 / Sq Ft View Prior Sale
04/04/2018 04/04/18 Pending -- -- --
03/28/2018 03/28/18 For Sale $4,895,000 -- $319 / Sq Ft

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $70,780 $5,518,468 $2,275,657 $3,242,811
2024 $70,780 $5,410,264 $2,231,037 $3,179,227
2023 $69,584 $5,304,182 $2,187,292 $3,116,890
2022 $65,306 $5,200,179 $2,144,404 $3,055,775
2021 $63,981 $5,098,215 $2,102,357 $2,995,858
2019 $63,064 $4,947,450 $2,040,000 $2,907,450
2018 $9,394 $536,951 $75,389 $461,562
2016 $8,584 $515,669 $72,462 $443,207
2015 $8,303 $507,924 $71,374 $436,550
2014 $8,352 $497,975 $69,976 $427,999
Source: Public Records

Agents Affiliated with this Home

  • Tyler Leeson

    Seller's Agent in 2018

    Tyler Leeson

    Marcus & Millichap RE Invest

    (949) 419-3200

    156 Total Sales

    Tyler Leeson
    Section Image
  • Jon Swire

    Buyer's Agent in 2018

    Jon Swire

    The Agency

    (310) 948-2631

    1 in this area

    34 Total Sales

    Jon Swire
    Section Image
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Map

California Los Angeles County Long Beach 90814 Bluff Heights

620 Coronado Ave, Long Beach, CA

Not Listed for Sale

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