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372 Freeman Ave, Long Beach, CA 90814
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372 Freeman Ave Long Beach, CA 90814

$4,895,000
  • 20 Beds
  • 18 Baths
  • 11,187 Sq.Ft.
For Sale
$4,895,000 Get Pre-Qualified
Map preview of 372 Freeman Ave, Long Beach, CA 90814

Property Overview: 372 Freeman Ave Long Beach, CA has 20 bedrooms, 18 bathrooms, 11,187 living square feet and 13,002 square feet lot size. Call an Ardent Real Estate Group agent to verify current availability of this home or with any questions you may have.

Agent Remarks: We are pleased to present a 14-unit multifamily property. Built in 1969, the subject property consists of 11,187 rentable square feet spread throughout a 13,002 square foot lot. The building consists of ten 1-Bedroom / 1-Bathroom units, two 2-Bedroom / 2-Bathroom units, and two 3-Bedroom / 2-Bathroom units. It contains 14 garages providing ample on-site parking. Tenants enjoy living in the Bluff Heights Neighborhood East of Downtown Long Beach, a short distance to local beaches, California State University of Long Beach, as well as shopping, restaurants, and nightlife. The city of Long Beach continues to progress forward and is currently experiencing major redevelopment. The Long Beach port is undergoing $4.4 billion in future redevelopment that will create 14,000 new and permanent jobs in Southern California.

Listed by Kevin King | BRE #01158184 | Marcus & Millichap
Last checked: 13 minutes ago | Last updated: August 26th, 2024 | Source CRMLS | DOM: 57

Home details

Lot Sq. Ft
13,002
HOA Dues
$0/mo
Year built
1969
Garage
14 Car
Property Type:
Apartment
Status
Active
MLS#
PW24150865
City
Long Beach
County
Los Angeles
Time on Site
58 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 14
  • Total # of Buildings: 1
  • # of Electric Meters: 14
  • # of Gas Meters: 14
  • # of Water Meters: 14
Unit Breakdown 1
  • # of Units: 10
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 10
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $19,075
  • Total Rent: $19,075
  • Pro Forma/Market Rent: $21,000
Unit Breakdown 2
  • # of Units: 2
  • # of Beds: 2
  • # of Baths: 2
  • Garage Spaces: 2
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $4,745
  • Total Rent: $4,745
  • Pro Forma/Market Rent: $5,390
Unit Breakdown 3
  • # of Units: 2
  • # of Beds: 3
  • # of Baths: 2
  • Garage Spaces: 2
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $5,590
  • Total Rent: $5,590
  • Pro Forma/Market Rent: $6,400
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 5%
  • Gross Rent Multiplier: --
  • Gross Scheduled Income: $352,920
  • Net Operating Income: $250,858
  • Gross Operating Income: --
  • Garage Rental Income: $19,020
  • Laundry Income: $3,000
  • Other Income 1: $1,200
  • Other Income Description: Pet Income
Annual Expense Breakdown
  • Total Operating Expense: $113,998
  • Electric: $2,875
  • Gas/Fuel: $2,875
  • Licenses: $1,100
  • New Taxes: $61,188
  • Trash: $2,875
  • Gardener: $3,200
  • Insurance: $9,600
  • Maintenance: $9,500
  • Professional Management: $17,910
  • Water/Sewer: $2,875

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Property Details for 372 Freeman Ave

Interior Features
Heating Information
  • Has Heating
  • Radiant
Laundry Information
  • Has Laundry
  • Community
Interior Features
  • Levels: Two
Exterior Features
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Garage Spaces: 14
  • # of Parking Spaces: 14
Lot Information
  • Lot Features: 11-15 Units/Acre
  • Lot Size Source: Assessor
  • Common Interest: Community Apartment
Property Information
  • Common Walls: 2+ Common Walls
  • Total # of Units: 14
  • Parcel Number: 7257012027
  • Year Built Source: Assessor
  • Entry Level: 1
  • Property is Attached
Homeowners Association, Utilities, Taxes / Assessments
Utilities Information
  • Sewer: Public Sewer, Septic Type Unknown
  • Water Source: Public
Location / Neighborhood
Location Information
  • Directions: 3rd St. & Redondo Ave
Neighborhood Information
  • Community Features: Curbs, Sidewalks
View more facts & features

Local Long Beach Agent

Sale History for 372 Freeman Ave

Last sold for $2,500,000 on December 21st, 2007

  • July, 2024

  • Jul 23, 2024

    Date

    Active

    CRMLS: PW24150865

    $4,995,000

    Price

  • December, 2007

  • Dec 21, 2007

    Date

    Sold (Public Records)

    Public Records

    $2,500,000

    Price

  • September, 2005

  • Sep 20, 2005

    Date

    Sold (Public Records)

    Public Records

    $2,400,000

    Price

Show More

Tax History for 372 Freeman Ave

Assessed Value (2020): $3,003,608
Year Land Value Improved Value Assessed Value
2020 $1,201,041 $1,802,567 $3,003,608

Home Value Compared to the Market

This property vs the competition

372 Freeman Ave is listed 527.56% higher than the median list price for the city of Long Beach which has a median list price of $780,000. The median price per/sqft for Long Beach is $646 and this home is listed at $437.56 per/sqft which puts the price per square foot 32.27% lower than the median price per square foot for the city of Long Beach.

About 372 Freeman Ave

Detailed summary of property

372 Freeman Ave is a apartment located in Long Beach, CA 90814 and is currently for sale. This apartment offers 20 bedrooms, 18 bathrooms, roughly 11,187 living square feet, and sits on an approximately 13,002 square foot lot. 372 Freeman Ave was first listed on ArdentRealEstateGroup.com on July 23, 2024. The homeowner is currently asking $4,895,000 and was originally asking $4,995,000. The median priced home in Long Beach is $780,000 with a median price per square foot of $646. Based on Ardent Real Estate Group's Long Beach Market Data, this home is listed 527.56% higher than the median priced home. Local competing homes currently for sale include 13705 Franklin St, 721 W La Palma Ave and 5871 S San Pedro St. While the average home in Long Beach, CA is selling in 62 days, 372 Freeman Ave has a days on market of 57 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 372 Freeman Ave 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 372 Freeman Ave

Public county record property details
Beds
20
Baths
18
Year built
1969
Sq. Ft.
11,187
Lot Size
13,001
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
7,8
APN
7257-012-027

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%)

Tour This Home

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Long Beach Agent
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(714) 706-1823

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Recently Sold Homes Near 372 Freeman Ave

364 Freeman Ave, Long Beach, CA 90814
$1,579,999 Last Sold Price
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5 Baths
4118 Sq.Ft.
364 Freeman Ave
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3041 E 4th St, Long Beach, CA 90814
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360 Freeman Ave, Long Beach, CA 90814
$5,000,000 Last Sold Price
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17 Baths
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360 Freeman Ave
Long Beach, CA 90814
3011 E 4th St, Long Beach, CA 90814
$2,320,000 Last Sold Price
17 Beds
9 Baths
6403 Sq.Ft.
3011 E 4th St
Long Beach, CA 90814

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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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