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219 E 10Th Street

Long Beach, CA 90813

PRICE REDUCED

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-$71,000 (-4.06%)

$1,679,000

List Price

6

bed Beds

3

shower Baths

4,836 sqft

straighten / sqft

1909

calendar_month Built

Property Description

Rare Multifaceted High-Revenue Mixed-Use Property with Vast Upside Potential in Long Beach! Dive into this diversified investment, a mixed-use property yielding strong revenue with upside potential and preliminary redevelopment concept plans. Nestled in an evolving Long Beach neighborhood, this compelling asset covers two lots with separate APN's, merging lucrative commercial operations with updated residential spaces for a dynamic revenue stream. The front building features two retail store fronts on the ground level, and upstairs a three bedroom apartment features dual primary sized rooms with a common bathroom. The rear duplex qualifies as a multi-family residential duplex. Upstairs at the rear you'll find a two-bedroom apartment (converted) with great balcony space and tons of daylight. Downstairs rear is a large one bedroom apartment. Each residential unit has its own new laundry in-unit and there's a long driveway with off-street parking at the back. The two separate APN's of this purchase opportunity could allow for conventional financing of the rear duplex, increasing attainability for newer or first time investors. The allure of this property extends beyond its current income generating capabilities to a future filled with promise, highlighted by the preliminary sketches for the development of 20 micro-apartment as an option for future development. Envision the rent roll on a prospective 20 micro-units building! Recent improvements and new construction are reshaping the neighborhood, not to mention the cities investment of over $750MM on infrastructure via the "Elevate '28" plan. These two buildings collectively known as 219 E 10th Street stand out as a stellar choice for investors aiming for a combination of steady diversified income and the opportunity for expansive growth and appreciation. The strategic benefits of owning a desirable mixed-use building with upside potential, redevelopment potential, and situated on two APN's make this a rare gem. Updated units, off-street parking, a prime location, and a manageable 5 door roster underscore the ease of stepping into this investment for new investors and seasoned professionals alike. This opportunity presents a rare window to invest a forward-thinking, multifaceted investment perfect for those poised to leverage the city's bright prospects and sights on the long term. APN #7273-007-037 and APN #7273-007-035. Subject to CA rent control law. All remarks made in good faith, however cannot be guaranteed by listing agent / broker.

Listing Information

List Price $1,679,000
Status Active
MLS 24371729
Type Residential Income
Year Built 1909
Lot Size 5,751
Structure Size 4,836
DOM 178
Courtesy Of Livel Real Estate
Listing Agent Jeffrey DeLancy DRE#01988084
Co-Listing Agent Meital Taub DRE#01871040

Interior Features

Total Bedroom
Bedrooms 6
Total Bathroom
Bathrooms 3
Cooling Type
Cooling Type Wall/Window Unit(s)

Exterior Information

Maps

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Listing information courtesy of: Jeffrey DeLancy, Meital Taub, Livel Real Estate . *Based on information from the Association of REALTORS/Multiple Listing as of Sep 30th, 2024 at 6:15 PM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. 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.