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387 Freeman Ave, Long Beach, CA 90814
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387 Freeman Ave Long Beach, CA 90814

$1,475,000
  • 6 Beds
  • 6 Baths
  • 4,066 Sq.Ft.
For Sale
$1,475,000 Get Pre-Qualified
Map preview of 387 Freeman Ave, Long Beach, CA 90814

Property Overview: 387 Freeman Ave Long Beach, CA has 6 bedrooms, 6 bathrooms, 4,066 living square feet and 6,502 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: Prime Bluff Heights location. First time for sale in 30+ years! Front Craftsman duplex plus 4 units in rear of lot. Excellent low-vacancy rental area! Unit mix: 6-(1 Br's), 4-(Parking). The low rents make this an excellent $ opportunity to create add-on value! Tenants all pay their own gas and electric. There is a laundry room in the front house shared with the whole property. The front house is a duplex with a small one bedroom in front. It has new vinyl floors but is otherwise dated. The other unit back/front is a gorgeously renovated one bedroom with new kitchen , floors , vinyl windows , dishwasher and gets great light. Pictures of this unit included. Units are appx. 600 SF each. The back four units are large one bedrooms. They have nice sized living rooms and the kitchens are connected to small dining area. Units are appx. 720 SF each. There is a large basement (access from back) but it's unused.

Listed by Mark Kachigan | BRE #00644779 | Pabst, Kinney & Associates
Last checked: 12 minutes ago | Last updated: September 18th, 2024 | Source CRMLS | DOM: 106

Home details

Lot Sq. Ft
6,502
HOA Dues
$0/mo
Year built
1923
Garage
--
Property Type:
Apartment
Status
Active
MLS#
PW24106426
City
Long Beach
County
Los Angeles
Time on Site
112 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 6
  • Total # of Buildings: 2
  • # of Electric Meters: 6
  • # of Gas Meters: 6
  • # of Water Meters: 1
Unit Breakdown 1
  • # of Units: 6
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $9,625
  • Total Rent: $9,625
  • Pro Forma/Market Rent: $9,625
Multi-Family Income/Expense Information
Property Income and Analysis
  • Gross Rent Multiplier: 12.8
  • Gross Scheduled Income: $115,500
  • Net Operating Income: $71,575
  • Gross Operating Income: $112,000
  • Vacancy Allowance: $3,500
Annual Expense Breakdown
  • Total Operating Expense: $40,425
  • Licenses: $593
  • Trash: $0
  • Gardener: $1,500
  • Insurance: $3,502
  • Maintenance: $5,305
  • Professional Management: $0
  • Water/Sewer: $0
  • Other Expenses: $2,537
  • Other Expense Description: Utilitu

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Property Details for 387 Freeman Ave

Interior Features
Cooling Information
  • No Cooling
  • None
Laundry Information
  • Has Laundry
  • Community
Interior Features
  • Levels: Two
  • Security Features: Carbon Monoxide Detector(s), Smoke Detector(s)
Exterior Features
Exterior Information
  • Roof: Composition
  • No Spa
  • Spa Features: None
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Parking Spaces: 4
  • Has Parking
  • Parking Features: Driveway
Lot Information
  • Lot Features: Level with Street, Near Public Transit, Walkstreet
  • Lot Size Source: Assessor
  • Common Interest: Community Apartment
Property Information
  • No View
  • View: None
  • Common Walls: 2+ Common Walls
  • Total # of Units: 6
  • Parcel Number: 7257011016
  • Year Built Source: Assessor
  • Architectural Style: Bungalow, Spanish
  • Entry Level: 1
  • Foundation Details: Raised
  • Property is Attached
Homeowners Association, Utilities, Taxes / Assessments
Homeowners Association
  • Is Not Part of Association
Utilities Information
  • Sewer: Public Sewer
  • Water Source: Public
  • Utilities: Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
Assessment Information
  • Has Assessments
  • Assessments: Unknown
Location / Neighborhood
Location Information
  • Subdivision Name: Belmont Heights (BH)
  • Other Subdivision Name: Bluff Heights
  • Directions: South of 4th St. / West of Redondo
  • Road Frontage Type: City Street
  • Road Surface Type: Paved
Neighborhood Information
  • Community Features: Sidewalks
View more facts & features

Local Long Beach Agent

Sale History for 387 Freeman Ave

Last sold on July 18th, 2016

  • May, 2024

  • May 29, 2024

    Date

    Active

    CRMLS: PW24106426

    $1,600,000

    Price

  • July, 2016

  • Jul 18, 2016

    Date

    Sold (Public Records)

    Public Records

    --

    Price

Show More

Tax History for 387 Freeman Ave

Assessed Value (2020): $378,864
Year Land Value Improved Value Assessed Value
2020 $185,644 $193,220 $378,864

Home Value Compared to the Market

This property vs the competition

387 Freeman Ave is listed 89.1% 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 $362.76 per/sqft which puts the price per square foot 43.84% lower than the median price per square foot for the city of Long Beach.

About 387 Freeman Ave

Detailed summary of property

387 Freeman Ave is a apartment located in Long Beach, CA 90814 and is currently for sale. This apartment offers 6 bedrooms, 6 bathrooms, roughly 4,066 living square feet, and sits on an approximately 6,502 square foot lot. 387 Freeman Ave was first listed on ArdentRealEstateGroup.com on May 29, 2024. The homeowner is currently asking $1,475,000 and was originally asking $1,600,000. 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 89.1% higher than the median priced home. Local competing homes currently for sale include 4501 E 4th St, 1147 Ximeno Ave and 1147 Ximeno Ave. While the average home in Long Beach, CA is selling in 62 days, 387 Freeman Ave has a days on market of 106 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 387 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 387 Freeman Ave

Public county record property details
Beds
6
Baths
6
Year built
1923
Sq. Ft.
4,066
Lot Size
6,500
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
15
APN
7257-011-016

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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(714) 706-1823

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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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