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58 Argonne Ave, Long Beach, CA 90803
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58 Argonne Ave Long Beach, CA 90803

$6,100,000 Sold Price as of 03/27/2019
  • 15 Beds
  • 24 Baths
  • 10,128 Sq.Ft.
Sold
$6,100,000 Sold Price as of 03/27/2019 Refinance Your Mortgage
Map preview of 58 Argonne Ave, Long Beach, CA 90803

Property Overview: 58 Argonne Ave Long Beach, CA has 15 bedrooms, 24 bathrooms, 10,128 living square feet and 9,012 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: The Argonne Avenue Apartments is a rare 24-unit apartment building located just steps from the beach in the highly desirable Belmont Shore district of Long Beach, CA. The property is conveniently located near the popular retail, entertainment, and dining district on Belmont Shore’s East Second Street. It offers more than 250 unique, upscale boutiques and specialty shops and a myriad of coffee shops, cafes, casual dining taverns, and international specialty restaurants. The offering is comprised of three contiguous eight-unit buildings, each situated on a separate parcel. Each building contains (5) one bedroom/ one bathroom units and (3) studio units. The seller will also consider selling each building separately. Tenants enjoy an on-site laundry facility and a short walk to the beach. There is also tremendous opportunity to capitalize on strong market trends that should increase rental income by over 45 percent. Given the fantastic location and strong demographics, The Argonne Avenue Apartments is well suited to provide investors with strong returns and value appreciation over the long-term investment horizon.

Listed by Greg Bassirpou | BRE #01365951 | Marcus & Millichap RE Invest
Last checked: 10 minutes ago | Last updated: March 22nd, 2022 | Source CRMLS | DOM: 101

Home details

Lot Sq. Ft
9,012
HOA Dues
$0/mo
Year built
1946
Garage
--
Property Type:
Multi Family
Status
Sold
MLS#
OC18252312
City
Long Beach
County
Los Angeles
Time on Site
1411 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 24
  • Total # of Buildings: 3
  • # of Electric Meters: 24
  • # of Gas Meters: 24
  • # of Water Meters: 1
Unit Breakdown 1
  • # of Units: 15
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $18,525
  • Total Rent: $18,525
  • Pro Forma/Market Rent: $28,425
Unit Breakdown 2
  • # of Units: 9
  • # of Beds: 0
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $10,705
  • Total Rent: $10,705
  • Pro Forma/Market Rent: $16,155
Multi-Family Income/Expense Information
Property Income and Analysis
  • Gross Rent Multiplier: --
  • Gross Scheduled Income: $350,760
  • Net Operating Income: $225,396
  • Gross Operating Income: --
  • Vacancy Allowance: $10,624
  • Other Income 1: $3,360
Annual Expense Breakdown
  • Total Operating Expense: $118,100
  • Electric: $1,650
  • Gas/Fuel: $1,650
  • New Taxes: $72,000
  • Trash: $1,650
  • Insurance: $10,500
  • Professional Management: $14,000
  • Water/Sewer: $1,650

Property Details for 58 Argonne Ave

Interior Features
Laundry Information
  • Has Laundry
  • Community
Interior Features
  • Levels: Two
Exterior Features
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Parking/Garage Information
  • No
  • Parking Features: Street
Lot Information
  • Lot Features: Near Public Transit
Property Information
  • Common Walls: No Common Walls
  • Total # of Units: 24
  • Parcel Number: 7247021029
  • Year Built Source: Public Records
  • Property is not Attached
  • Has Additional Parcels
Homeowners Association, Utilities, Taxes / Assessments
Utilities Information
  • Sewer: Public Sewer
  • Water Source: Public
Location / Neighborhood
Location Information
  • Directions: Please do not disturb tenants. Make all offers subject to inspection.
Neighborhood Information
  • Community Features: Curbs, Sidewalks, Storm Drains, Street Lights
View more facts & features

Local Long Beach Agent

Sale History for 58 Argonne Ave

Last sold for $6,100,000 on March 27th, 2019

  • March, 2019

  • Mar 28, 2019

    Date

    Sold

    CRMLS: OC18252312

    $6,100,000

    Price

  • Jan 28, 2019

    Date

    Pending

    CRMLS: OC18252312

    $6,350,000

    Price

  • Oct 17, 2018

    Date

    Active

    CRMLS: OC18252312

    $6,350,000

    Price

  • March, 2019

  • Mar 27, 2019

    Date

    Sold (Public Records)

    Public Records

    $6,100,000

    Price

  • February, 2019

  • Feb 12, 2019

    Date

    Sold (Public Records)

    Public Records

    --

    Price

Show More

Tax History for 58 Argonne Ave

Assessed Value (2020): $2,041,200
Year Land Value Improved Value Assessed Value
2020 $1,224,000 $817,200 $2,041,200

Home Value Compared to the Market

This property vs the competition

58 Argonne Ave sold on March 27, 2019 for 693.75% higher than the current median sold price for the city of Long Beach which is $800,000. The median sold price per/sqft for Long Beach is $632 and this home is sold at $626.97 per/sqft which puts the price per square foot 0.8% lower than the current median sale per square foot for the city of Long Beach.

About 58 Argonne Ave

Detailed summary of property

58 Argonne Ave is a multi family that recently sold in Long Beach, CA 90803. This multi family property offered 15 bedrooms, 24 bathrooms, roughly 10,128 living square feet, and sits on an approximately 9,012 square foot lot. 58 Argonne Ave was first listed on ArdentRealEstateGroup.com on July 20, 2020. The homeowner sold the property for $6,100,000. Home in Long Beach are selling for a median price of $800,000 and a median price per square foot of $632. Based on Ardent Real Estate Group's Long Beach Market Data, this home is sold 693.75% higher than the current median priced home. Local homes that are currently for sale include 208 W Hoover Ave, 654 E 24th St and 3168 Wabash Ave. While the average home in Long Beach, CA is selling in 53 days, 58 Argonne Ave has a days on market of 101 days. There are currently 654 homes for sale in the Long Beach real estate market and 368 of them are single family homes while 269 of them are condos and 17 are townhomes. For more information on this home for sale at 58 Argonne Ave Long Beach, CA 90803 contact Ardent Real Estate Group and we will put you in touch with one of our Long Beach agents.

Public Facts for 58 Argonne Ave

Public county record property details
Beds
8
Baths
8
Year built
1946
Sq. Ft.
3,376
Lot Size
2,970
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
1
APN
7247-021-029

The source for these homes facts are from public records.

90803 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$1,499,000
Median List Price/Sq.Ft.
$838
Median Sold Price
$1,600,000
Median Sold Price/Sq.Ft.
$672
Total Inventory
121
Median Sale to List Price %
100%
Avg Days on Market
57
Loan Type
Conventional (50%), FHA (0%), VA (0%), Cash (43.75%), Other (6.25%)

Thinking of Selling?

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(714) 706-1823

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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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