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486 E Adair St, Long Beach, CA 90805
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486 E Adair St Long Beach, CA 90805

$1,400,000
  • 6 Beds
  • 4 Baths
  • 2,800 Sq.Ft.
For Sale
$1,400,000 Get Pre-Qualified
Map preview of 486 E Adair St, Long Beach, CA 90805

Property Overview: 486 E Adair St Long Beach, CA has 6 bedrooms, 4 bathrooms, 2,800 living square feet and 6,087 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 486 E Adair St, a (4) unit multi-family building in Long Beach, CA. This quadruplex sits on a 6,087 SF corner lot well-positioned in the vastly appreciating North Long Beach submarket. The building features unit mix of (1) 3 Bed/1 Bath unit and (3) 1 Bed/1 Bath units stretching across 2,800+/- rentable square feet. With a CAP Rate of 5.34% and a GRM of 13.46 on current rents, this stabilized asset offers tremendous opportunity for 1031 exchange buyers looking to increase their cash flow on Day 1. The building is in excellent condition and all (4) units have been extensively remodeled with professional grade finishes. In addition, the gated entry ensures secured access to the property and each tenant is offered (1) assigned parking space within the premises. With a walk score of (73), the property is located within close proximity to many retail, dining, and entertainment options that greatly benefit the tenant mix. Further, a substantial portion of the rental income is strategically secured through Section 8 vouchers, so the uncertainty of future rent moratoriums will significantly reduce the likelihood of lost revenue.

Listed by Daniel Hopkins | BRE #02105900 | Lyon Stahl Investment Real Est
Co-listed by Joshua Barut | BRE #01971720 | Lyon Stahl Investment Real Estate, Inc.
Last checked: 6 minutes ago | Last updated: January 24th, 2023 | Source CRMLS | DOM: 163
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Home details

Lot Sq. Ft
6,087
HOA Dues
$0/mo
Year built
1939
Garage
--
Property Type:
Fourplex
Status
Active
MLS#
PW22211363
City
Long Beach
County
Los Angeles
Time on Site
184 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 4
  • Total # of Buildings: 3
  • # of Leased Units: 4
  • # of Electric Meters: 4
  • # of Gas Meters: 4
  • # of Water Meters: 4
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 3
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $3,125
  • Total Rent: $37,500
  • Pro Forma/Market Rent: $3,250
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $2,000
  • Total Rent: $24,000
  • Pro Forma/Market Rent: $2,095
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,950
  • Total Rent: $23,400
  • Pro Forma/Market Rent: $2,095
Unit Breakdown 4
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,880
  • Total Rent: $22,560
  • Pro Forma/Market Rent: $2,095
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 5.34%
  • Gross Rent Multiplier: 13.46
  • Gross Scheduled Income: $102,372
  • Net Operating Income: $77,413
  • Gross Operating Income: --
Annual Expense Breakdown
  • Total Operating Expense: $24,959
  • Trash: $3,200
  • Insurance: $1,120

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Property Details for 486 E Adair St

Interior Features
Laundry Information
  • Has Laundry
  • Common Area, Dryer Included, Washer Included
Interior Features
  • Levels: One
Exterior Features
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Parking Spaces: 4
  • Has Parking
  • Parking Features: Driveway, Driveway Level, Gated, Off Street
Lot Information
  • Lot Features: 2-5 Units/Acre, Corner Lot, Landscaped
  • Lot Size Source: Assessor
  • Common Interest: None
Property Information
  • Common Walls: 1 Common Wall
  • Total # of Units: 4
  • Parcel Number: 7125015029
  • Year Built Source: Public Records
  • 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
Location / Neighborhood
Location Information
  • Subdivision Name: North Long Beach (NLB)
  • Directions: Off Atlantic
Neighborhood Information
  • Community Features: Biking, Dog Park, Park
View more facts & features

Local Long Beach Agent

Sale History for 486 E Adair St

Last sold for $904,500 on September 15th, 2020

  • September, 2022

  • Sep 28, 2022

    Date

    Active

    CRMLS: PW22211363

    $1,450,000

    Price

  • September, 2022

  • Sep 21, 2022

    Date

    Canceled

    CRMLS: PW22113577

    $1,490,000

    Price

  • May 28, 2022

    Date

    Active

    CRMLS: PW22113577

    $1,499,999

    Price

  • Listing provided courtesy of CRMLS

    Welcome to beautiful 4-PLEX 6beds 4 baths with 3 separate buildings and 4 meters 4 addresses, located at corner lot . Very low maintenance, all remodeled with 2 brand-new units, PERFECT INVESTMENT FOR STABLE INCOME in upcoming area. ALL Tenants are SECTION 8 HOUSING with gross income up to $8825. DRIVE BY ONLY, DO NOT DISTURB TENANTS UNDER ANY CIRCUMSTANCES. This is a must to see, do not miss this opportunity.

  • September, 2020

  • Sep 15, 2020

    Date

    Sold (Public Records)

    Public Records

    $904,500

    Price

  • February, 2019

  • Feb 25, 2019

    Date

    Sold

    CRMLS: 18400716

    $604,250

    Price

  • Nov 13, 2018

    Date

    Pending

    CRMLS: 18400716

    $644,000

    Price

  • Oct 25, 2018

    Date

    Active Under Contract

    CRMLS: 18400716

    $644,000

    Price

  • Oct 25, 2018

    Date

    Active

    CRMLS: 18400716

    $644,000

    Price

  • Listing provided courtesy of CRMLS

    A fabulous Triplex - gain passive income in this 3 on a lot income property. Buyer may live in one and rent out others. Front unit is a well maintained jewel with spacious living room and kitchen. Corner property with good curb appeal. The two other properties are in good shape also. NO RENT CONTROL means put the tenants in you like with the rent that you prefer. The De forest neighborhood is sought after premier area with parks & freeways close by.

  • February, 2019

  • Feb 25, 2019

    Date

    Sold (Public Records)

    Public Records

    $604,500

    Price

  • August, 2018

  • Aug 21, 2018

    Date

    Canceled

    CRMLS: 18355640

    $644,000

    Price

  • Jun 16, 2018

    Date

    Active

    CRMLS: 18355640

    $644,000

    Price

  • Listing provided courtesy of CRMLS

    A fabulous Triplex - gain passive income in this 3 on a lot income property. Buyer may live in one and rent out others. Front unit is a well maintained jewel with spacious living room and kitchen. Corner property with good curb appeal. The two other properties are in good shape also. NO RENT CONTROL means put the tenants in you like with the rent that you prefer. The De forest neighborhood is sought after premier area with parks & freeways close by.

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Tax History for 486 E Adair St

Assessed Value (2020): $616,284
Year Land Value Improved Value Assessed Value
2020 $306,000 $310,284 $616,284

Home Value Compared to the Market

This property vs the competition

486 E Adair St is listed 86.69% higher than the median list price for the city of Long Beach which has a median list price of $749,900. The median price per/sqft for Long Beach is $602 and this home is listed at $500 per/sqft which puts the price per square foot 16.94% lower than the median price per square foot for the city of Long Beach.

About 486 E Adair St

Detailed summary of property

486 E Adair St is a fourplex located in Long Beach, CA 90805 and is currently for sale. This fourplex offers 6 bedrooms, 4 bathrooms, roughly 2,800 living square feet, and sits on an approximately 6,087 square foot lot. 486 E Adair St was first listed on ArdentRealEstateGroup.com on September 28, 2022. The homeowner is currently asking $1,400,000 and was originally asking $1,450,000. The median priced home in Long Beach is $749,900 with a median price per square foot of $602. Based on Ardent Real Estate Group's Long Beach Market Data, this home is listed 86.69% higher than the median priced home. Local competing homes currently for sale include 3409 Walnut Ave, 8746 Chester St and 9540 Park St. While the average home in Long Beach, CA is selling in 53 days, 486 E Adair St has a days on market of 163 days. There are currently 487 homes for sale in the Long Beach real estate market and 278 of them are single family homes while 198 of them are condos and 11 are townhomes. For more information on this home for sale at 486 E Adair St Long Beach, CA 90805 contact Ardent Real Estate Group and we will put you in touch with one of our Long Beach agents.

Public Facts for 486 E Adair St

Public county record property details
Beds
4
Baths
2
Year built
1939
Sq. Ft.
2,064
Lot Size
6,087
Stories
--
Type
Triplex (3 Units, Any Combination)
Pool
No
Spa
No
County
Los Angeles
Lot#
45,46
APN
7125-015-029

The source for these homes facts are from public records.

90805 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$662,990
Median List Price/Sq.Ft.
$524
Median Sold Price
$675,000
Median Sold Price/Sq.Ft.
$524
Total Inventory
63
Median Sale to List Price %
104.01%
Avg Days on Market
29
Loan Type
Conventional (31.58%), FHA (15.79%), VA (5.26%), Cash (10.53%), Other (26.32%)

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Recently Sold Homes Near 486 E Adair St

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Related Resources to 486 E Adair St

New Listings in 90805
Nearby Zip Codes
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Other Long Beach Resources

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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