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244 Coronado Ave, Long Beach, CA 90803
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244 Coronado Ave Long Beach, CA 90803

$5,062,500 Sold Price as of 07/24/2020
  • 34 Beds
  • 20 Baths
  • 14,045 Sq.Ft.
Sold
$5,062,500 Sold Price as of 07/24/2020 Refinance Your Mortgage
Map preview of 244 Coronado Ave, Long Beach, CA 90803

Property Overview: 244 Coronado Ave Long Beach, CA has 34 bedrooms, 20 bathrooms, 14,045 living square feet and 14,374 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: We are pleased to present the opportunity to acquire 244 - 246 Coronado Avenue, an 18-unit multifamily investment property located in Long Beach, one of the premier housing markets in Southern California. Specifically, the property is located in the Bluff Heights neighborhood, one of the most desirable areas in the city. The building is also within walking distance to numerous local and national retail stores and just over one mile from the beach. Situated on a 0.33-acre lot, the 14,045 square foot property consists of 3, 1 bed/1 bath units, 13, 2 bed/1 bath units, 1, 2 bed/1.5 bath townhouse, and 1, 3 bed/2 bath unit. Built in 1962, 244 - 246 Coronado Avenue offers amenities including a professionally landscaped courtyard, garage parking, screen doors, and on-site laundry. Additionally, 39% of units have been completely or partially remodeled. Upgrades include new bathrooms, flooring, faucets, stainless steel appliances, patio fencing, and more.

Listed by Tyler Leeson | BRE #01451551 | Marcus & Millichap RE Invest
Last checked: 7 minutes ago | Last updated: March 22nd, 2022 | Source CRMLS | DOM: 17

Home details

Lot Sq. Ft
14,374
HOA Dues
$0/mo
Year built
1962
Garage
9 Car
Property Type:
Multi Family
Status
Sold
MLS#
OC20071636
City
Long Beach
County
Los Angeles
Time on Site
1408 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 18
  • Total # of Buildings: 2
  • # of Leased Units: 18
  • # of Electric Meters: 18
  • # of Gas Meters: 18
  • # of Water Meters: 1
Unit Breakdown 1
  • # of Units: 3
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 3
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,283
  • Total Rent: $3,850
  • Pro Forma/Market Rent: $1,661
Unit Breakdown 2
  • # of Units: 13
  • # of Beds: 2
  • # of Baths: 1
  • Garage Spaces: 6
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,742
  • Total Rent: $22,640
  • Pro Forma/Market Rent: $2,000
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 2
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $2,400
  • Total Rent: $2,400
  • Pro Forma/Market Rent: $2,500
Unit Breakdown 4
  • # of Units: 1
  • # of Beds: 3
  • # of Baths: 2
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $2,900
  • Total Rent: $2,900
  • Pro Forma/Market Rent: $3,000
Multi-Family Income/Expense Information
Property Income and Analysis
  • Gross Rent Multiplier: --
  • Gross Scheduled Income: $381,480
  • Net Operating Income: $255,459
  • Gross Operating Income: $382,536
  • Vacancy Allowance: $11,444
  • Other Income 1: $12,500
  • Other Income Description: Miscellaneous
Annual Expense Breakdown
  • Total Operating Expense: $127,077
  • Electric: $2,500
  • Gas/Fuel: $2,500
  • New Taxes: $73,925
  • Trash: $2,500
  • Insurance: $5,400
  • Maintenance: $12,600
  • Professional Management: $15,301
  • Water/Sewer: $2,500
  • Other Expenses: $9,850
  • Other Expense Description: Misc

Property Details for 244 Coronado Ave

Interior Features
Laundry Information
  • Has Laundry
  • Common Area
Interior Features
  • Levels: Two
Exterior Features
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Garage Spaces: 9
  • # of Parking Spaces: 9
Lot Information
  • Lot Features: Landscaped
  • Lot Size Source: Assessor
  • Common Interest: Community Apartment
Property Information
  • Common Walls: No Common Walls
  • Total # of Units: 18
  • Parcel Number: 7264004032
  • Year Built Source: Assessor
  • Property is not Attached
  • Has Additional Parcels
Homeowners Association, Utilities, Taxes / Assessments
Utilities Information
  • Sewer: Public Sewer
  • Water Source: Public
Location / Neighborhood
Location Information
  • Directions: Major Cross Streets: East Broadway & Coronado Avenue
Neighborhood Information
  • Community Features: Curbs, Gutters, Sidewalks
View more facts & features

Local Long Beach Agent

Sale History for 244 Coronado Ave

Last sold for $2,000,000 on July 27th, 2020

  • July, 2020

  • Jul 27, 2020

    Date

    Sold (Public Records)

    Public Records

    $2,000,000

    Price

  • July, 2020

  • Jul 24, 2020

    Date

    Sold

    CRMLS: OC20071636

    $5,062,500

    Price

  • May 14, 2020

    Date

    Pending

    CRMLS: OC20071636

    $5,850,000

    Price

  • Apr 27, 2020

    Date

    Active Under Contract

    CRMLS: OC20071636

    $5,850,000

    Price

  • Apr 10, 2020

    Date

    Active

    CRMLS: OC20071636

    $5,850,000

    Price

  • September, 2017

  • Sep 22, 2017

    Date

    Sold (Public Records)

    Public Records

    $800,000

    Price

Show More

Tax History for 244 Coronado Ave

Assessed Value (2020): $1,184,892
Year Land Value Improved Value Assessed Value
2020 $722,716 $462,176 $1,184,892

Home Value Compared to the Market

This property vs the competition

244 Coronado Ave sold on July 24, 2020 for 631.25% higher than the current median sold price for the city of Long Beach which is $800,000. The median sold price per/sqft for Long Beach is $632 and this home is sold at $416.52 per/sqft which puts the price per square foot 34.1% lower than the current median sale per square foot for the city of Long Beach.

About 244 Coronado Ave

Detailed summary of property

244 Coronado Ave is a multi family that recently sold in Long Beach, CA 90803. This multi family property offered 34 bedrooms, 20 bathrooms, roughly 14,045 living square feet, and sits on an approximately 14,374 square foot lot. 244 Coronado Ave was first listed on ArdentRealEstateGroup.com on July 11, 2020. The homeowner sold the property for $5,062,500. Home in Long Beach are selling for a median price of $800,000 and a median price per square foot of $632. Based on Ardent Real Estate Group's Long Beach Market Data, this home is sold 631.25% higher than the current median priced home. Local homes that are currently for sale include 410 Clubhouse Ave, 526 W 47th St and 1012 & 1018 Mission Dr. While the average home in Long Beach, CA is selling in 51 days, 244 Coronado Ave has a days on market of 17 days. There are currently 639 homes for sale in the Long Beach real estate market and 366 of them are single family homes while 259 of them are condos and 14 are townhomes. For more information on this home for sale at 244 Coronado Ave Long Beach, CA 90803 contact Ardent Real Estate Group and we will put you in touch with one of our Long Beach agents.

Public Facts for 244 Coronado Ave

Public county record property details
Beds
16
Baths
9
Year built
1962
Sq. Ft.
6,139
Lot Size
6,076
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
5
APN
7264-004-032

The source for these homes facts are from public records.

90803 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$1,589,000
Median List Price/Sq.Ft.
$858
Median Sold Price
$1,600,000
Median Sold Price/Sq.Ft.
$672
Total Inventory
114
Median Sale to List Price %
100%
Avg Days on Market
57
Loan Type
Conventional (50%), FHA (0%), VA (0%), Cash (43.75%), Other (6.25%)

Thinking of Selling?

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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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