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716 Raymond Ave, Long Beach, CA 90804
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716 Raymond Ave Long Beach, CA 90804

$2,900,000
  • 2 Beds
  • 16 Baths
  • 6,426 Sq.Ft.
For Sale
$2,900,000 Get Pre-Qualified
Map preview of 716 Raymond Ave, Long Beach, CA 90804

Property Overview: 716 Raymond Ave Long Beach, CA has 2 bedrooms, 16 bathrooms, 6,426 living square feet and 11,502 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: With strong rents in place, this asset is an ideal acquisition opportunity for an investor looking for cash flow in a dense coastal rental market. Assumable financing is available. 716 Raymond Avenue is a 1923 construction with 14 studios and two one-bedroom/one-bath units. Most units have single-story floor plans, and all are separately metered for gas and electricity. The building features on-site laundry and six single-car garages; both amenities generate additional income. The property has been well-maintained, and the electrical has been recently updated. In-place rents are strong and offer four percent potential upside. Additionally, a new investor may want to explore the potential to convert the garages to ADU’s (buyer to verify). 716 Raymond Avenue is well-located in Eastside Long Beach’s Rose Park neighborhood near the intersection of 7th Street and Junipero Avenue. Tenants enjoy convenient proximity to Junipero Beach (a four-minute drive) and easy access to retail. This property is offered as part of a portfolio along with 1043 and 1048 Coronado Avenue; 716 Raymond may be acquired separately.

Listed by Steven Bogoyevac | BRE #01332755 | Steven M. Bogoyevac, Broker
Last checked: 15 minutes ago | Last updated: May 1st, 2024 | Source CRMLS | DOM: 33
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Home details

Lot Sq. Ft
11,502
HOA Dues
$0/mo
Year built
1923
Garage
6 Car
Property Type:
Mixed Use
Status
Active
MLS#
PW24064015
City
Long Beach
County
Los Angeles
Time on Site
34 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 16
  • Total # of Buildings: 1
  • # of Electric Meters: 16
  • # of Gas Meters: 16
  • # of Water Meters: 0
Unit Breakdown 1
  • # of Units: 2
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,590
  • Total Rent: $3,179
  • Pro Forma/Market Rent: $1,895
Unit Breakdown 2
  • # of Units: 14
  • # of Beds: 0
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,470
  • Total Rent: $20,586
  • Pro Forma/Market Rent: $1,495
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 6%
  • Gross Rent Multiplier: --
  • Gross Scheduled Income: $0
  • Net Operating Income: $0
  • Gross Operating Income: --
Annual Expense Breakdown
  • Total Operating Expense: $0
  • Electric: $0
  • Gas/Fuel: $0
  • Trash: $0
  • Insurance: $0
  • Professional Management: $0
  • Water/Sewer: $0

Open Houses for 716 Raymond Ave

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Property Details for 716 Raymond Ave

Interior Features
Laundry Information
  • Has Laundry
  • Community
Exterior Features
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Garage Spaces: 6
  • # of Parking Spaces: 6
Lot Information
  • Lot Features: Lot 10000-19999 Sqft
  • Lot Size Source: Assessor
  • Common Interest: None
Property Information
  • Common Walls: No Common Walls
  • Total # of Units: 16
  • Parcel Number: 7262021013
  • Year Built Source: Assessor
  • Entry Level: 1
  • Property is not Attached
Homeowners Association, Utilities, Taxes / Assessments
Utilities Information
  • Sewer: Public Sewer
  • Water Source: Public
Location / Neighborhood
Location Information
  • Subdivision Name: Eastside (ES)
  • Directions: 2nd parcel north of 7th Street
Neighborhood Information
  • Community Features: Suburban
View more facts & features

Local Long Beach Agent

Sale History for 716 Raymond Ave

Last sold for $1,316,500 on October 20th, 2015

  • April, 2024

  • Apr 1, 2024

    Date

    Active

    CRMLS: PW24064015

    $2,950,000

    Price

  • October, 2015

  • Oct 20, 2015

    Date

    Sold (Public Records)

    Public Records

    $1,316,500

    Price

  • November, 1998

  • Nov 6, 1998

    Date

    Sold (Public Records)

    Public Records

    --

    Price

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Tax History for 716 Raymond Ave

Assessed Value (2020): $1,434,909
Year Land Value Improved Value Assessed Value
2020 $757,701 $677,208 $1,434,909

Home Value Compared to the Market

This property vs the competition

716 Raymond Ave is listed 262.55% 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 $451.29 per/sqft which puts the price per square foot 29.92% lower than the median price per square foot for the city of Long Beach.

About 716 Raymond Ave

Detailed summary of property

716 Raymond Ave is a mixed use located in Long Beach, CA 90804 and is currently for sale. This mixed use property offers 2 bedrooms, 16 bathrooms, roughly 6,426 living square feet, and sits on an approximately 11,502 square foot lot. 716 Raymond Ave was first listed on ArdentRealEstateGroup.com on April 1, 2024. The homeowner is currently asking $2,900,000 and was originally asking $2,950,000. 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 262.55% higher than the median priced home. Local competing homes currently for sale include 820 Lime Ave, 4130 E 10th St and 1756 Pacific Ave. While the average home in Long Beach, CA is selling in 54 days, 716 Raymond Ave has a days on market of 33 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 716 Raymond Ave Long Beach, CA 90804 contact Ardent Real Estate Group and we will put you in touch with one of our Long Beach agents.

Public Facts for 716 Raymond Ave

Public county record property details
Beds
2
Baths
16
Year built
1923
Sq. Ft.
6,426
Lot Size
11,501
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
13-14
APN
7262-021-013

The source for these homes facts are from public records.

90804 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$515,000
Median List Price/Sq.Ft.
$612
Median Sold Price
$550,000
Median Sold Price/Sq.Ft.
$667
Total Inventory
47
Median Sale to List Price %
104.77%
Avg Days on Market
23
Loan Type
Conventional (57.14%), FHA (0%), VA (14.29%), Cash (28.57%), Other (0%)

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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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