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550 Rose Ave, Long Beach, CA 90802
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550 Rose Ave Long Beach, CA 90802

$1,250,000 Sold Price as of 10/27/2020
  • 7 Beds
  • 4 Baths
  • 2,872 Sq.Ft.
Sold
$1,250,000 Sold Price as of 10/27/2020 Refinance Your Mortgage
Map preview of 550 Rose Ave, Long Beach, CA 90802

Property Overview: 550 Rose Ave Long Beach, CA has 7 bedrooms, 4 bathrooms, 2,872 living square feet and 7,968 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: 550 Rose is just steps from Retro Row, Belmont Shore, Downtown and all Long Beach living a bike ride away. This is your perfect opportunity to live in a gorgeous Long Beach craftsman while collecting rents on your 2 back units, or as an investor, you have the opportunity to maximize rents in this prime location. The front three bedroom, two bathroom unit has been beautifully remodeled; new kitchen countertops, cabinets, appliances and bathroom tile and dual vanity. There's also a bonus room right off the living room ideal for an office, playroom, music/art room with a side private door leading to the driveway. Your back two spacious units have a shared patio area, private entry and ample parking- There is a total of 3 separate garages that can be used for parking or storage, along with 3 assigned spaces and your long driveway which can easily fit up to 5 cars. Wait. There's more...All units also each have washer/dryer hookups.

Listed by Giannina Silva | BRE #01408839 | INTI Realty
Co-listed by Brian Noh | BRE #01438155 | Nohco Real Estate
Last checked: 3 minutes ago | Last updated: March 22nd, 2022 | Source CRMLS | DOM: 10

Home details

Lot Sq. Ft
7,968
HOA Dues
$0/mo
Year built
1918
Garage
3 Car
Property Type:
Triplex
Status
Sold
MLS#
PW20191753
City
Long Beach
County
Los Angeles
Time on Site
1465 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 3
  • Total # of Buildings: 2
  • # of Electric Meters: 3
  • # of Gas Meters: 3
  • # of Water Meters: 1
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 3
  • # of Baths: 2
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Total Rent: $0
  • Pro Forma/Market Rent: $3,500
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Total Rent: $0
  • Pro Forma/Market Rent: $2,400
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Total Rent: $0
  • Pro Forma/Market Rent: $2,400
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 5.7%
  • Gross Rent Multiplier: 12.4
  • Gross Scheduled Income: $100,800
  • Net Operating Income: $70,998
  • Gross Operating Income: --
Annual Expense Breakdown
  • Total Operating Expense: $26,778
  • New Taxes: $0
  • Trash: $0
  • Insurance: $0
  • Water/Sewer: $0

Property Details for 550 Rose Ave

Interior Features
Heating Information
  • Has Heating
  • Floor Furnace, Wall Furnace
Laundry Information
  • Has Laundry
  • Gas Dryer Hookup, Inside, Washer Hookup
Room Information
  • Flooring: Carpet, Laminate, Tile
  • Bonus Room, Kitchen, Laundry, Living Room, See Remarks
Kitchen Information
  • Has Appliances
  • Dishwasher, Gas Range, Microwave
Interior Features
  • Ceiling Fan(s)
Exterior Features
Exterior Information
  • Roof: Composition
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Garage Spaces: 3
  • # of Parking Spaces: 11
  • Has Parking
  • Parking Features: Driveway, Garage, Side by Side
Lot Information
  • Lot Features: 2-5 Units/Acre, Front Yard, Near Public Transit
  • Lot Size Source: Assessor
  • Common Interest: None
Property Information
  • Common Walls: 1 Common Wall
  • Total # of Units: 3
  • Parcel Number: 7266024025
  • Year Built Source: Assessor
  • Architectural Style: Craftsman
  • Foundation Details: Raised
  • Property is Attached
  • Property Condition: Updated/Remodeled
Homeowners Association, Utilities, Taxes / Assessments
Utilities Information
  • Sewer: Public Sewer
  • Water Source: Public
Assessment Information
  • Has Assessments
  • Assessments: Buyer to Verify
Location / Neighborhood
Location Information
  • Subdivision Name: Alamitos Beach (AB)
  • Directions: 5th St./Cherry Ave.
Neighborhood Information
  • Community Features: Curbs, Sidewalks, Street Lights
View more facts & features

Local Long Beach Agent

Sale History for 550 Rose Ave

Last sold for $1,250,000 on October 27th, 2020

  • October, 2020

  • Oct 27, 2020

    Date

    Sold

    CRMLS: PW20191753

    $1,250,000

    Price

  • Sep 30, 2020

    Date

    Pending

    CRMLS: PW20191753

    $1,249,000

    Price

  • Sep 15, 2020

    Date

    Active

    CRMLS: PW20191753

    $1,249,000

    Price

  • October, 2020

  • Oct 27, 2020

    Date

    Sold (Public Records)

    Public Records

    $1,250,000

    Price

  • March, 2020

  • Mar 9, 2020

    Date

    Sold

    CRMLS: OC20008011

    $930,000

    Price

  • Feb 14, 2020

    Date

    Active Under Contract

    CRMLS: OC20008011

    $999,000

    Price

  • Feb 9, 2020

    Date

    Active

    CRMLS: OC20008011

    $999,000

    Price

  • Jan 28, 2020

    Date

    Active Under Contract

    CRMLS: OC20008011

    $999,000

    Price

  • Jan 14, 2020

    Date

    Active

    CRMLS: OC20008011

    $999,000

    Price

  • Listing provided courtesy of CRMLS

    550 Rose is located walking distance to 4th St/Retro Row in Long Beach near Downtown and the Ocean. This beautiful 3 unit property offers an investor and/or owner-occupier to acquire a turnkey investment in a trendy rental market. The property boasts a large unit mix of a large 3 bed/2 bath front house with a den that can easily be converted into a fourth bedroom. There are (2) 2 bed/1 bath units in rear with 3 separate garages with a total of 6 parking spaces and a long driveway. The building was built in 1918 with a total size of 2,872 SF, sitting on 7,968 SF lot zoned LB-R1. Property is currently fully occupied with all month to month tenants at below market rents. Prime location less than 2 miles from the ocean in Retro Row near Downtown Long Beach, Belmont Shore, LB City College, and Restaurants, & Shops.

  • March, 2020

  • Mar 6, 2020

    Date

    Sold (Public Records)

    Public Records

    $930,000

    Price

Show More

Tax History for 550 Rose Ave

Assessed Value (2020): $855,942
Year Land Value Improved Value Assessed Value
2020 $499,822 $356,120 $855,942

Home Value Compared to the Market

This property vs the competition

550 Rose Ave sold on October 27, 2020 for 52.5% 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 $434.89 per/sqft which puts the price per square foot 30.75% lower than the current median sale per square foot for the city of Long Beach.

About 550 Rose Ave

Detailed summary of property

550 Rose Ave is a triplex that recently sold in Long Beach, CA 90802. This triplex offered 7 bedrooms, 4 bathrooms, roughly 2,872 living square feet, and sits on an approximately 7,968 square foot lot. 550 Rose Ave was first listed on ArdentRealEstateGroup.com on September 15, 2020. The homeowner sold the property for $1,250,000. 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 52.5% higher than the current median priced home. Local homes that are currently for sale include 251 Loma Ave, 4024 E 5th Street and 1021 Pacific Ave. While the average home in Long Beach, CA is selling in 62 days, 550 Rose Ave has a days on market of 10 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 550 Rose 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 550 Rose Ave

Public county record property details
Beds
4
Baths
3
Year built
1918
Sq. Ft.
2,872
Lot Size
7,968
Stories
--
Type
Triplex (3 Units, Any Combination)
Pool
No
Spa
No
County
Los Angeles
Lot#
10
APN
7266-024-025

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
$569,000
Median List Price/Sq.Ft.
$660
Median Sold Price
$515,000
Median Sold Price/Sq.Ft.
$619
Total Inventory
173
Median Sale to List Price %
100.39%
Avg Days on Market
43
Loan Type
Conventional (60.71%), FHA (7.14%), VA (0%), Cash (14.29%), Other (17.86%)

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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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