154 Bennett Avenue, Long Beach, CA 90803

$4,995,000
8,550
SqFt
List Price
$4,995,000
Status
ACTIVE
MLS#
SB20186153
Year Built
1924
Living Sq. Ft
8,550
Lot Size
12,703
Acres
0.2916
Lot Location
Corner Lot, Landscaped, Level with Street, Lot 10000-19999 Sqft, Rectangular Lot
Days on Market
18
Property Type
Multifamily
Style
Mediterranean
Property Sub Type
Apartment
Stories
Three Or More Levels
Builders Tract Code
Belmont Heights (BH)
Neighborhood
Belmont Heights (Bh)

Property Description

Villa Fiore is an architectural gem located in the Belmont Heights area of Long Beach, just blocks from the beach on a large 12,700 square foot corner lot. The property is 100% occupied & consists of 15 apartment units of which 13 are permitted. There is significant upside in the rents as they are below market levels. There is additional income potential from garage and storage units that are not rented. The owner has taken great care to preserve the architectural features of Villa Fiore while making upgrades throughout the property. There are large balconies with ocean views from some units and the units exude the charm & style of the roaring 1920’s. The property was developed in 1924, and is designed as a complex surrounding a lushly landscaped courtyard. The first building consists of a 3-story building at the corner of 2nd St & Bennett with the address of 158–160 Bennett Ave and consists of 4 units. 154 & 156 Bennett are single story buildings with 5 units and 4 units respectively. 4312-4316 E 2nd St has 2 units in a single-story building. The total livable area was measured to be 8,550 SF, the Tax Assessor records indicate 7,696 SF. The property has additional building area adjacent to the 7 garage spaces, and has a large attic above 158-160 Bennett that is in addition to the tax assessor’s records (Buyer to verify units & square footage). The property is a short walk to the Belmont Beach Pier, the bike path, shops & restaurants on 2nd St along Belmont Shore.

Additional Information

Tract Number
-
Lot Description
Biking, Curbs, Sidewalks
Pool Description
None
View
Ocean, Peek-A-Boo
Garage Spaces Total
5
Sewer
Public Sewer
Water
Public
Attached Structure
Attached
Number Of Units Total
15
Gross Scheduled Income
$295,740
Operating Expense
100040
Unit One Total Units
1
Unit One Beds
2
Unit One Baths
2
Unit One Actual Rent
2575.00
Unit One Total Rent
2575.00
Unit One Pro Forma
2795
Unit One Furnished
Unfurnished
Unit Two Total Units
2
Unit Two Beds
2
Unit Two Baths
1
Unit Two Actual Rent
2688.00
Unit Two Total Rent
5375.00
Unit Two Pro Forma
2675
Unit Two Furnished
Unfurnished
Unit Three Total Units
9
Unit Three Beds
1
Unit Three Baths
1
Unit Three Actual Rent
1497.00
Unit Three Total Rent
13470.00
Unit Three Pro Forma
1800
Unit Three Furnished
Unfurnished
Unit Four Total Units
3
Unit Four Baths
1
Unit Four Actual Rent
1075.00
Unit Four Total Rent
3225.00
Unit Four Pro Forma
1417
Unit Four Furnished
Unfurnished

Mortgage Calculator

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Calculator source: Real Geeks

Listing courtesy of Stephen Lampe from Re/Max Commercial & Investment

Based on information from California Regional Multiple Listing Service, Inc. as of . 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.