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532 Nebraska Ave, Long Beach, CA 90802
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532 Nebraska Ave Long Beach, CA 90802

$3,300,000
  • 14 Beds
  • 14 Baths
  • 5,565 Sq.Ft.
For Sale
$3,300,000 Get Pre-Qualified
Map preview of 532 Nebraska Ave, Long Beach, CA 90802

Property Overview: 532 Nebraska Ave Long Beach, CA has 14 bedrooms, 14 bathrooms, 5,565 living square feet and 6,745 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 apartment building located at 532 Nebraska Avenue in Long Beach, California. This is a value-add opportunity in a great location of Alamitos Beach. The subject property is close to 4th Street Retro Row, Downtown Long Beach and 2nd Street in Belmont Shore where there are restaurants, shops, bars, grocery stores and entertainment venues. The subject property consists of 5,565 rentable square feet spread throughout a 6,745 square foot lot. It was built in 1984 and consists of all one bedroom / one bathroom units. The subject property is also separately metered for gas and electricity which helps keep expenses to a minimum. There are a total of 9 parking spaces which are able to generate income as well. Owners enjoy the high demand for rentals in a coastal city of Southern California. Tenants enjoy living close to the ocean breeze and walking distance to shops, restaurants, cafes, entertainment centers and grocery stores. The city of Long Beach continues to progress forward and is currently experiencing major redevelopment. There has been over $2B invested in real estate transactions and new development projects since 2013. There are 3,997 residential units in the development pipeline. Notable completed projects near the subject property include the Shoreline Gateway at 777 E. Ocean Blvd. which is 35 stories high with 315 residential units and 6,700 sq. ft. of restaurant and retail space, the Ocean View Tower at 200 W. Ocean Blvd has 142 units with 4,100 sq. ft. of commercial space, and Volta on Pine at 635 Pine Ave. has 271 units with 1,302 sq. ft. of retail and commercial space. Currently under construction is the renovation at the Breakers Hotel at 210 E. Ocean Blvd, Broadway Block at 330 & 333 E. Broadway which is 432 units and over 17,793 sq. ft. of retail space, Aster at 250 E. Broadway with 218 units and 7,300 sq. ft. of commercial space, as well as the Broadstone Promenade which is 189 units with ground floor retail space as well.

Listed by Kevin King | BRE #01158184 | Marcus & Millichap
Last checked: 2 minutes ago | Last updated: April 17th, 2024 | Source CRMLS | DOM: 12
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Home details

Lot Sq. Ft
6,745
HOA Dues
$0/mo
Year built
1984
Garage
--
Property Type:
Apartment
Status
Active
MLS#
PW24076657
City
Long Beach
County
Los Angeles
Time on Site
14 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 14
  • Total # of Buildings: 1
  • # of Electric Meters: 15
  • # of Gas Meters: 15
  • # of Water Meters: 1
Unit Breakdown 1
  • # of Units: 14
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $21,322
  • Total Rent: $21,322
  • Pro Forma/Market Rent: $26,530
Multi-Family Income/Expense Information
Property Income and Analysis
  • Gross Rent Multiplier: --
  • Gross Scheduled Income: $255,864
  • Net Operating Income: $248,165
  • Gross Operating Income: --
Annual Expense Breakdown
  • Total Operating Expense: $85,596
  • Electric: $2,750
  • Gas/Fuel: $2,750
  • Licenses: $1,100
  • New Taxes: $41,250
  • Trash: $2,750
  • Gardener: $1,800
  • Insurance: $2,638
  • Maintenance: $11,900
  • Professional Management: $12,408
  • Water/Sewer: $2,750
  • Other Expenses: $3,500
  • Other Expense Description: Misc.

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Property Details for 532 Nebraska Ave

Interior Features
Laundry Information
  • No Laundry
  • None
Interior Features
  • Levels: One
Exterior Features
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
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: 7266018028
  • Year Built Source: Assessor
  • Entry Level: 1
  • Property is Attached
Homeowners Association, Utilities, Taxes / Assessments
Utilities Information
  • Sewer: Public Sewer
  • Water Source: Public
Location / Neighborhood
Location Information
  • Subdivision Name: Alamitos Beach (AB)
  • Directions: Nebraska Ave & 5th St.
Neighborhood Information
  • Community Features: Curbs, Sidewalks
View more facts & features

Local Long Beach Agent

Sale History for 532 Nebraska Ave

Last sold for $800,000 on October 2nd, 2002

  • April, 2024

  • Apr 17, 2024

    Date

    Active

    CRMLS: PW24076657

    $3,300,000

    Price

  • October, 2002

  • Oct 2, 2002

    Date

    Sold (Public Records)

    Public Records

    $800,000

    Price

  • December, 1996

  • Dec 18, 1996

    Date

    Sold (Public Records)

    Public Records

    $192,500

    Price

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Tax History for 532 Nebraska Ave

Assessed Value (2020): $1,067,841
Year Land Value Improved Value Assessed Value
2020 $635,668 $432,173 $1,067,841

Home Value Compared to the Market

This property vs the competition

532 Nebraska Ave is listed 312.55% higher than the median list price for the city of Long Beach which has a median list price of $799,900. The median price per/sqft for Long Beach is $644 and this home is listed at $592.99 per/sqft which puts the price per square foot 7.92% lower than the median price per square foot for the city of Long Beach.

About 532 Nebraska Ave

Detailed summary of property

532 Nebraska Ave is a apartment located in Long Beach, CA 90802 and is currently for sale. This apartment offers 14 bedrooms, 14 bathrooms, roughly 5,565 living square feet, and sits on an approximately 6,745 square foot lot. 532 Nebraska Ave was first listed on ArdentRealEstateGroup.com on April 17, 2024. The homeowner is currently asking $3,300,000. The median priced home in Long Beach is $799,900 with a median price per square foot of $644. Based on Ardent Real Estate Group's Long Beach Market Data, this home is listed 312.55% higher than the median priced home. Local competing homes currently for sale include 5121 E Ocean Blvd, 208 Granada Ave and 6807 E Seaside Walk. While the average home in Long Beach, CA is selling in 54 days, 532 Nebraska Ave has a days on market of 12 days. There are currently 610 homes for sale in the Long Beach real estate market and 349 of them are single family homes while 248 of them are condos and 13 are townhomes. For more information on this home for sale at 532 Nebraska Ave Long Beach, CA 90802 contact Ardent Real Estate Group and we will put you in touch with one of our Long Beach agents.

Public Facts for 532 Nebraska Ave

Public county record property details
Beds
14
Baths
14
Year built
1984
Sq. Ft.
5,565
Lot Size
6,745
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
2
APN
7266-018-028

The source for these homes facts are from public records.

90802 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$530,000
Median List Price/Sq.Ft.
$627
Median Sold Price
$505,000
Median Sold Price/Sq.Ft.
$634
Total Inventory
124
Median Sale to List Price %
96.19%
Avg Days on Market
34
Loan Type
Conventional (50%), FHA (3.57%), VA (3.57%), Cash (28.57%), Other (10.71%)

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Recently Sold Homes Near 532 Nebraska 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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