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2203 E Bermuda St, Long Beach, CA 90814
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2203 E Bermuda St Long Beach, CA 90814

$2,700,000 Sold Price as of 02/14/2024
  • 15 Beds
  • 8 Baths
  • 8,364 Sq.Ft.
Sold
$2,700,000 Sold Price as of 02/14/2024 Refinance Your Mortgage
Map preview of 2203 E Bermuda St, Long Beach, CA 90814

Property Overview: 2203 E Bermuda St Long Beach, CA has 15 bedrooms, 8 bathrooms, 8,364 living square feet and 5,962 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: 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.

Listed by Bryan Glenn | BRE #01441095 | Kidder Mathews of California, Inc.
Last checked: 1 minute ago | Last updated: February 16th, 2024 | Source CRMLS | DOM: 19

Home details

Lot Sq. Ft
5,962
HOA Dues
$0/mo
Year built
1985
Garage
--
Property Type:
Multi Family
Status
Sold
MLS#
23340513
City
Long Beach
County
Los Angeles
Time on Site
276 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 8
  • Total # of Buildings: 1
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,545
  • Total Rent: $1,545
  • Pro Forma/Market Rent: $1,545
Unit Breakdown 2
  • # of Units: 7
  • # of Beds: 2
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,948
  • Total Rent: $13,640
  • Pro Forma/Market Rent: $13,640
Multi-Family Income/Expense Information
Property Income and Analysis
  • Gross Rent Multiplier: 13.42
  • Gross Scheduled Income: --
  • Net Operating Income: $112,632
  • Gross Operating Income: $191,594
Annual Expense Breakdown
  • Total Operating Expense: --

Property Details for 2203 E Bermuda St

Interior Features
Cooling Information
  • No Cooling
  • None
Heating Information
  • Has Heating
  • Central
Laundry Information
  • Has Laundry
  • Community
Kitchen Information
  • Has Appliances
  • Dishwasher
Interior Features
  • Levels: Two
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Parking Spaces: 12
  • Has Parking
  • Parking Features: Garage - Single Door, Garage - Two Door, Private, Parking Space
Property Information
  • Total # of Units: 8
  • Parcel Number: 7263005031
Homeowners Association, Utilities, Taxes / Assessments
Homeowners Association
  • Is Not Part of Association
Assessment Information
  • No Assessments
Location / Neighborhood
Location Information
  • Directions: North of Broadway, south of 4th Street, west of Junipero Avenue and east of Cherry Avenue.
View more facts & features

Local Long Beach Agent

Sale History for 2203 E Bermuda St

Last sold for $2,700,000 on February 14th, 2024

  • February, 2024

  • Feb 14, 2024

    Date

    Sold

    CRMLS: 23340513

    $2,700,000

    Price

  • Dec 17, 2023

    Date

    Active

    CRMLS: 23340513

    $2,650,000

    Price

  • October, 2020

  • Oct 30, 2020

    Date

    Sold (Public Records)

    Public Records

    --

    Price

Show More

Tax History for 2203 E Bermuda St

Assessed Value (2020): $1,040,858
Year Land Value Improved Value Assessed Value
2020 $287,872 $752,986 $1,040,858

Home Value Compared to the Market

This property vs the competition

2203 E Bermuda St sold on February 14, 2024 for 223.57% higher than the current median sold price for the city of Long Beach which is $819,000. The median sold price per/sqft for Long Beach is $628 and this home is sold at $316.83 per/sqft which puts the price per square foot 49.55% lower than the current median sale per square foot for the city of Long Beach.

About 2203 E Bermuda St

Detailed summary of property

2203 E Bermuda St is a multi family that recently sold in Long Beach, CA 90814. This multi family property offered 15 bedrooms, 8 bathrooms, roughly 8,364 living square feet, and sits on an approximately 5,962 square foot lot. 2203 E Bermuda St was first listed on ArdentRealEstateGroup.com on December 18, 2023. The homeowner sold the property for $2,700,000. Home in Long Beach are selling for a median price of $819,000 and a median price per square foot of $628. Based on Ardent Real Estate Group's Long Beach Market Data, this home is sold 223.57% higher than the current median priced home. Local homes that are currently for sale include 1700 Pacific Ave, 263 Corona Ave and 263 Corona Avenue. While the average home in Long Beach, CA is selling in 62 days, 2203 E Bermuda St has a days on market of 19 days. There are currently 778 homes for sale in the Long Beach real estate market and 416 of them are single family homes while 337 of them are condos and 23 are townhomes. For more information on this home for sale at 2203 E Bermuda St Long Beach, CA 90814 contact Ardent Real Estate Group and we will put you in touch with one of our Long Beach agents.

Public Facts for 2203 E Bermuda St

Public county record property details
Beds
15
Baths
8
Year built
1985
Sq. Ft.
8,364
Lot Size
5,961
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
15
APN
7263-005-031

The source for these homes facts are from public records.

90814 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$625,000
Median List Price/Sq.Ft.
$642
Median Sold Price
$692,500
Median Sold Price/Sq.Ft.
$596
Total Inventory
45
Median Sale to List Price %
106.54%
Avg Days on Market
31
Loan Type
Conventional (42.86%), FHA (0%), VA (0%), Cash (21.43%), Other (35.71%)

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Based on information from California Regional Multiple Listing Service, Inc. as of 2019. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

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