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394 Coronado Ave, Long Beach, CA 90814
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394 Coronado Ave Long Beach, CA 90814

$4,100,000 Sold Price as of 03/10/2020
  • 21 Beds
  • 12 Baths
  • 8,688 Sq.Ft.
Sold
$4,100,000 Sold Price as of 03/10/2020 Refinance Your Mortgage
Map preview of 394 Coronado Ave, Long Beach, CA 90814

Property Overview: 394 Coronado Ave Long Beach, CA has 21 bedrooms, 12 bathrooms, 8,688 living square feet and 7,426 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: We are pleased to present an outstanding multi-family opportunity located in the prime Bluff Heights area of Long Beach. Built in 1963, the property consists of approximately 8,688 square feet set on a 7,418 square foot lot. The subject property is comprised of one one-bedroom/one-bathroom unit, one 2-bedroom/2-bathroom unit and nine 2-bedroom/1-bathroom units. Many of the units have newer hardwood floors and all have been very well maintained with many upgrades. Located in Bluff Heights, the subject property is just walking distance to the outstanding retail corridors of Broadway and Second Street, which are both home to many casual and fine dining restaurants, storefront retail shops and various business of the area. Furthermore, with a "walk score" of “90" and is deemed "very walkable, where most errands can be accomplished on foot." This is truly a unique opportunity to acquire a quality, value add, true pride of ownership asset in this outstanding rental market and would make a great addition to any investor's portfolio. The city of Long Beach continues to progress forwards and is currently experiencing major redevelopment of $3.5 billion. An example of this large-scale redevelopment is the Long Beach Civic Center, which completed late 2019.

Listed by Kevin King | BRE #01158184 | Marcus & Millichap
Last checked: 10 minutes ago | Last updated: March 22nd, 2022 | Source CRMLS | DOM: 125

Home details

Lot Sq. Ft
7,426
HOA Dues
$0/mo
Year built
1963
Garage
6 Car
Property Type:
Multi Family
Status
Sold
MLS#
PW19228614
City
Long Beach
County
Los Angeles
Time on Site
1521 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 11
  • Total # of Buildings: 1
  • # of Electric Meters: 11
  • # of Gas Meters: 11
  • # of Water Meters: 1
Unit Breakdown 1
  • # of Units: 9
  • # of Beds: 2
  • # of Baths: 1
  • Garage Spaces: 5
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,901
  • Total Rent: $17,110
  • Pro Forma/Market Rent: $2,050
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 2
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $2,095
  • Total Rent: $2,095
  • Pro Forma/Market Rent: $2,250
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,700
  • Total Rent: $1,700
  • Pro Forma/Market Rent: $1,795
Multi-Family Income/Expense Information
Property Income and Analysis
  • Gross Rent Multiplier: --
  • Gross Scheduled Income: $251,520
  • Net Operating Income: $169,511
  • Gross Operating Income: --
  • Garage Rental Income: $8,400
  • Laundry Income: $2,700
Annual Expense Breakdown
  • Total Operating Expense: $85,563
  • Electric: $1,540
  • Gas/Fuel: $1,540
  • New Taxes: $50,700
  • Trash: $935
  • Gardener: $1,200
  • Insurance: $2,900
  • Maintenance: $10,640
  • Professional Management: $11,818
  • Water/Sewer: $1,540
  • Other Expenses: $2,750
  • Other Expense Description: Misc.

Property Details for 394 Coronado Ave

Interior Features
Cooling Information
  • No Cooling
  • None
Heating Information
  • No Heating
  • None
Laundry Information
  • Has Laundry
  • Community
Fireplace Information
  • No Fireplace
  • None
Exterior Features
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Garage Spaces: 6
  • # of Parking Spaces: 6
Lot Information
  • Lot Features: 11-15 Units/Acre
  • Lot Size Source: Assessor
  • Common Interest: None
Property Information
  • Common Walls: 2+ Common Walls
  • Total # of Units: 11
  • Parcel Number: 7257014001
  • Year Built Source: Assessor
  • Property is Attached
Homeowners Association, Utilities, Taxes / Assessments
Utilities Information
  • Sewer: Public Sewer, Septic Type Unknown
  • Water Source: Public
Location / Neighborhood
Location Information
  • Subdivision Name: Belmont Heights (BH)
  • Directions: 4th & Coronado Avenue
Neighborhood Information
  • Community Features: Curbs, Sidewalks
View more facts & features

Local Long Beach Agent

Sale History for 394 Coronado Ave

Last sold for $4,100,000 on March 10th, 2020

  • March, 2020

  • Mar 11, 2020

    Date

    Sold

    CRMLS: PW19228614

    $4,100,000

    Price

  • Jan 28, 2020

    Date

    Pending

    CRMLS: PW19228614

    $4,225,000

    Price

  • Nov 19, 2019

    Date

    Price Change

    CRMLS: PW19228614

    $4,225,000

    Price

  • Sep 25, 2019

    Date

    Active

    CRMLS: PW19228614

    $4,295,000

    Price

  • March, 2020

  • Mar 10, 2020

    Date

    Sold (Public Records)

    Public Records

    $4,100,000

    Price

  • February, 2018

  • Feb 22, 2018

    Date

    Sold (Public Records)

    Public Records

    $3,500,000

    Price

Show More

Tax History for 394 Coronado Ave

Assessed Value (2020): $3,644,700
Year Land Value Improved Value Assessed Value
2020 $2,601,000 $1,043,700 $3,644,700

Home Value Compared to the Market

This property vs the competition

394 Coronado Ave sold on March 10, 2020 for 415.87% 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 $486.3 per/sqft which puts the price per square foot 22.56% lower than the current median sale per square foot for the city of Long Beach.

About 394 Coronado Ave

Detailed summary of property

394 Coronado Ave is a multi family that recently sold in Long Beach, CA 90814. This multi family property offered 21 bedrooms, 12 bathrooms, roughly 8,688 living square feet, and sits on an approximately 7,426 square foot lot. 394 Coronado Ave was first listed on ArdentRealEstateGroup.com on July 21, 2020. The homeowner sold the property for $4,100,000. 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 415.87% higher than the current median priced home. Local homes that are currently for sale include 927 S Bruce St, 825 E 108th St and 11662 Stuart Dr. While the average home in Long Beach, CA is selling in 62 days, 394 Coronado Ave has a days on market of 125 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 394 Coronado 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 394 Coronado Ave

Public county record property details
Beds
--
Baths
11
Year built
1963
Sq. Ft.
8,688
Lot Size
7,426
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
1
APN
7257-014-001

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%)

Thinking of Selling?

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(714) 706-1823

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Recently Sold Homes Near 394 Coronado Ave

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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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