2035 Lemon Avenue Long Beach, CA
$ 1,098,000
Property Attributes
  • MLS#TR21037882
  • TypeContingent
  • CityLong Beach
  • AreaNorth Long Beach
  • NeighborhoodOther
  • Zip90806
  • StyleApartment
  • Year Built1960
  • Taxes12200
  • Price$ 1,098,000
  • Bedrooms6
  • Full Bathrooms6
  • Half Bathrooms0
  • Lot Size6,515 SqFt
Listing Provided Courtesy Of:
Eva Wong with Pegasus Financial Inc..
Data Source:
Property Description

Well maintained 5-units income property located on a nice residential street. Great mix comprised of a spacious (1) 2bed/2ba 1510 SF house built in 1919 and (4) 1bed/1ba apartment building built in 1960. House has formal Living, Dining and Family Rooms, open Kitchen with granite countertops, direct access to 1 car garage. Periodic updates for house include central air, hardwood and tile floors, newer roof and windows. The four apartment units each has formal living room, spacious bedroom, and kitchen with dining area. Two of the units recently remodeled with new kitchens, granite counters and cabinets, bathrooms with new fixtures, new water heaters and laminate flooring. Each unit is individually metered for electricity and gas. Backyard has new wrought iron gate. 1 car garage plus two parking spaces in rear, additional parking in the driveway and street parking. All units are rented with tenants paying full rent. Low operating expenses with upside rent to achieve more income and additional value. 4.63% CAP at current rents, 6.31% CAP with pro forma rents. Fantastic turnkey investment opportunity. Buyer to conduct own due diligence. Please do not disturb tenants.

Price History
3/1/2021 Listed $1,098,000

General Features

Appliances Free-Standing Range, Disposal, Range Hood, Water Heater
Community Features Sidewalks
Flooring Carpet, Laminate, Tile, Wood
Garage Spaces 1
Garage Y/N Yes
Interior Features Granite Counters
MLS Area 7 - North Long Beach
Open Parking Spaces 2
Pool Features None
Property SubType Apartment
Property Type Residential Income
PropertyCondition Turnkey
Rooms Living Room, Kitchen
Sewer Public Sewer
Subdivision Name Other (OTHR)
Terms Cash to New Loan
Total Units 5
Utilities Electricity Connected, Natural Gas Connected, Water Connected
Water Sewer Expense 2375
Zoning LBR1N

Interior Features

Common Walls No Common Walls
Laundry Features Laundry Room, See Remarks

Exterior Features

Fencing Block
Lot Features Front Yard
Lot Size Acres 0.15
Lot Size Area 6515
Lot Size Source Assessor
Lot Size Square Feet 6515
Lot Size Units Square Feet
Number of Buildings 2
Number of Separate Electric Meters 5
Number of Separate Gas Meters 5
Number of Separate Water Meters 1
Road Frontage Type City Street
Road Surface Type Maintained, Paved
Total Parking 3
Water Source Public

Room Details

Room Dimensions Level Flooring Details
Living Room


  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Master On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Zip Code Average in 90806

AVG $890K
AVG $12,200
AVG 141
Year Built
AVG 1947
AVG 73
Data Provided by Walkscore ® not using MLS data

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