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522 E Rhea St, Long Beach, CA 90806
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522 E Rhea St Long Beach, CA 90806

$1,850,000
  • 15 Beds
  • 7 Baths
  • 4,212 Sq.Ft.
For Sale
$1,850,000 Get Pre-Qualified
Map preview of 522 E Rhea St, Long Beach, CA 90806

Property Overview: 522 E Rhea St Long Beach, CA has 15 bedrooms, 7 bathrooms, 4,212 living square feet and 6,500 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: THIS 4-UNIT PROPERTY IS A RARE FIND FOR INVESTORS Looking for Great Income, with a Current Gross Schedule Income of $140,100 per Year!!! The Entire Building was Totally Remodeled Down to the Studs in 2019.The Property Currently has a Newer Roof, Newer Copper Plumbing Throughout, Newer Windows, Newer Interior & Exterior Paint, Newer Laminated Wood and Tile Flooring throughout, Recess Lighting Throughout, Remodeled Kitchens with Newer Wood Cabinets, Granite Countertops, Newer Refrigerators, Stoves, Microwaves, Washers & Dryers, That's Included with the Purchase!! This 4-Unit Building Offers (THREE) 4/Bedrooms 2/Bathrooms & (ONE) 3/Bedrooms with 1/Bathroom. Each Unit is Individually Metered with Gas & Electricity and Currently the Building is 100% Tenant Occupied. This Property Offers Great Gated Parking for Tenants, with (8) Inside Parking Spaces. This Property Wont Last!!

Listed by Marvin Malone | BRE #01202247 | Amberwood Real Estate, Inc.
Last checked: 6 minutes ago | Last updated: May 4th, 2024 | Source CRMLS | DOM: 98
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Home details

Lot Sq. Ft
6,500
HOA Dues
$0/mo
Year built
1923
Garage
--
Property Type:
Fourplex
Status
Active
MLS#
PW24016535
City
Long Beach
County
Los Angeles
Time on Site
98 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 4
  • Total # of Buildings: 2
  • # of Leased Units: 4
  • # of Electric Meters: 4
  • # of Gas Meters: 4
  • # of Water Meters: 1
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 4
  • # of Baths: 2
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $3,375
  • Total Rent: $3,375
  • Pro Forma/Market Rent: $3,750
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 4
  • # of Baths: 2
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $3,100
  • Total Rent: $3,100
  • Pro Forma/Market Rent: $3,750
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 4
  • # of Baths: 2
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $3,000
  • Total Rent: $3,000
  • Pro Forma/Market Rent: $3,750
Unit Breakdown 4
  • # of Units: 1
  • # of Beds: 3
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $2,200
  • Total Rent: $2,200
  • Pro Forma/Market Rent: $2,750
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 6.4%
  • Gross Rent Multiplier: --
  • Gross Scheduled Income: $140,100
  • Net Operating Income: $118,939
  • Gross Operating Income: --
Annual Expense Breakdown
  • Total Operating Expense: $21,161
  • Trash: $100
  • Insurance: $2,400
  • Water/Sewer: $278

Open Houses for 522 E Rhea St

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Property Details for 522 E Rhea St

Interior Features
Cooling Information
  • No Cooling
  • None
Heating Information
  • Has Heating
  • Wall Furnace
Laundry Information
  • Has Laundry
  • Dryer Included, Gas & Electric Dryer Hookup, Inside, Stackable, Washer Hookup, Washer Included
Fireplace Information
  • No Fireplace
  • None
Room Information
  • Flooring: Laminate, Tile
  • Kitchen, Living Room
Kitchen Information
  • Has Appliances
  • Dishwasher, Free-Standing Range, Disposal, Gas Oven, Gas Cooktop, Gas Water Heater, Microwave, Portable Dishwasher, Refrigerator
Interior Features
  • Ceiling Fan(s), Copper Plumbing Full, Granite Counters, Recessed Lighting
  • Levels: Two
  • Window Features: Double Pane Windows
  • Security Features: Carbon Monoxide Detector(s), Security Lights, Smoke Detector(s)
Exterior Features
Exterior Information
  • Roof: Composition
  • Has Fence
  • Security, Wrought Iron
  • No Spa
  • Spa Features: None
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Parking Spaces: 8
  • Has Parking
  • Parking Features: Assigned, Concrete, Gated, On Site
Lot Information
  • Lot Features: 2-5 Units/Acre, Near Public Transit
  • Lot Size Source: Assessor
  • Common Interest: None
Property Information
  • No View
  • View: None
  • Common Walls: 1 Common Wall
  • Total # of Units: 4
  • Parcel Number: 7209004011
  • Year Built Source: Assessor
  • Entry Level: 2
  • Property is Attached
  • Accessibility Features: Doors - Swing In, Parking
Homeowners Association, Utilities, Taxes / Assessments
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: Poly High (PH)
  • Directions: N/PACIFIC COAST HWY W/ATLANTIC AVE
Neighborhood Information
  • Community Features: Curbs, Sidewalks, Street Lights
View more facts & features

Local Long Beach Agent

Sale History for 522 E Rhea St

Last leased for $3,100 on April 19th, 2023

  • January, 2024

  • Jan 30, 2024

    Date

    Active

    CRMLS: PW24016535

    $1,925,000

    Price

  • April, 2023

  • Apr 19, 2023

    Date

    Leased

    CRMLS: PW23029222

    $3,100

    Price

  • Feb 20, 2023

    Date

    Active

    CRMLS: PW23029222

    $3,100

    Price

  • Listing provided courtesy of CRMLS

    Beautiful 4 bedroom, 2 full baths. laminated bedroom floors. Livingroom, kitchen tile flooring. Laundry room with washer and dryer included. Two parking slots enough for two cars. Upstairs apartment entire second floor.

  • August, 2021

  • Aug 29, 2021

    Date

    Active

    CRMLS: PW21191138

    $2,900

    Price

  • Listing provided courtesy of CRMLS

    Beautiful three bedroom, one bathroom, up stairs apartment...Apartment has been completely rehabbed

  • June, 2021

  • Jun 29, 2021

    Date

    Expired

    CRMLS: PW20220244

    $2,995

    Price

  • Oct 19, 2020

    Date

    Active

    CRMLS: PW20220244

    $2,995

    Price

  • Listing provided courtesy of CRMLS

    Beautiful four bedroom, two bathroom, up stairs apartment...Apartment has been completely rehabbed

  • July, 2020

  • Jul 1, 2020

    Date

    Expired

    CRMLS: PW19221594

    $3,500

    Price

  • Jun 29, 2020

    Date

    Price Change

    CRMLS: PW19221594

    $3,500

    Price

  • Sep 23, 2019

    Date

    Price Change

    CRMLS: PW19221594

    $2,995

    Price

  • Sep 17, 2019

    Date

    Active

    CRMLS: PW19221594

    $3,500

    Price

  • Listing provided courtesy of CRMLS

    Beautiful four bedroom - two bath...unit has be completely rehabbed..

  • November, 2018

  • Nov 16, 2018

    Date

    Sold

    CRMLS: PW18175665

    $650,000

    Price

  • Oct 29, 2018

    Date

    Pending

    CRMLS: PW18175665

    $650,000

    Price

  • Jul 25, 2018

    Date

    Active Under Contract

    CRMLS: PW18175665

    $650,000

    Price

  • Jul 25, 2018

    Date

    Hold

    CRMLS: PW18175665

    $650,000

    Price

  • Jul 25, 2018

    Date

    Active

    CRMLS: PW18175665

    $650,000

    Price

  • Jul 24, 2018

    Date

    Hold

    CRMLS: PW18175665

    $650,000

    Price

  • Jul 24, 2018

    Date

    Active

    CRMLS: PW18175665

    $650,000

    Price

  • Listing provided courtesy of CRMLS

    Property is a Fixer, and will be sold in As-Is Condition

  • October, 2018

  • Oct 26, 2018

    Date

    Sold (Public Records)

    Public Records

    $610,000

    Price

  • December, 2006

  • Dec 1, 2006

    Date

    Sold (Public Records)

    Public Records

    $890,000

    Price

Show More

Tax History for 522 E Rhea St

Assessed Value (2020): $622,620
Year Land Value Improved Value Assessed Value
2020 $408,000 $214,620 $622,620

Home Value Compared to the Market

This property vs the competition

522 E Rhea St is listed 131.54% higher than the median list price for the city of Long Beach which has a median list price of $799,000. The median price per/sqft for Long Beach is $645 and this home is listed at $439.22 per/sqft which puts the price per square foot 31.9% lower than the median price per square foot for the city of Long Beach.

About 522 E Rhea St

Detailed summary of property

522 E Rhea St is a fourplex located in Long Beach, CA 90806 and is currently for sale. This fourplex offers 15 bedrooms, 7 bathrooms, roughly 4,212 living square feet, and sits on an approximately 6,500 square foot lot. 522 E Rhea St was first listed on ArdentRealEstateGroup.com on January 31, 2024. The homeowner is currently asking $1,799,000-$1,850,000 and was originally asking $1,925,000. The median priced home in Long Beach is $799,000 with a median price per square foot of $645. Based on Ardent Real Estate Group's Long Beach Market Data, this home is listed 131.54% higher than the median priced home. Local competing homes currently for sale include 1825 Cherry Ave, 1706 Sherman Pl and 1512 N Stanton Pl. While the average home in Long Beach, CA is selling in 53 days, 522 E Rhea St has a days on market of 98 days. There are currently 627 homes for sale in the Long Beach real estate market and 356 of them are single family homes while 258 of them are condos and 13 are townhomes. For more information on this home for sale at 522 E Rhea St Long Beach, CA 90806 contact Ardent Real Estate Group and we will put you in touch with one of our Long Beach agents.

Public Facts for 522 E Rhea St

Public county record property details
Beds
8
Baths
7
Year built
1923
Sq. Ft.
4,212
Lot Size
6,499
Stories
--
Type
Quadruplex (4 Units, Any Combination)
Pool
No
Spa
No
County
Los Angeles
Lot#
8
APN
7209-004-011

The source for these homes facts are from public records.

90806 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$795,000
Median List Price/Sq.Ft.
$614
Median Sold Price
$600,000
Median Sold Price/Sq.Ft.
$641
Total Inventory
15
Median Sale to List Price %
101.69%
Avg Days on Market
16
Loan Type
Conventional (55.56%), FHA (11.11%), VA (0%), Cash (0%), Other (33.33%)

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Buy this home with Ardent Real Estate Group and get $4,163 back.

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Recently Sold Homes Near 522 E Rhea St

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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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