Property listed by Ontrak Real Estate, Miguel Palos 562-787-5626
$974,555
A rare opportunity combining turnkey living, rental income potential, and future development upside on an approximately 7,500 SF lot in Long Beach. The property features a beautifully remodeled 2-bedroom, 1-bath primary residence plus a newly completed, legal 1-bedroom, 1-bath attached ADU with its own completely separate entrance and no interior… Read More connection between the units.
The main residence has been extensively updated and offers an inviting open-concept living, dining and kitchen layout, updated kitchen and bath, newer flooring and finishes, and a functional bedroom arrangement that includes direct bathroom access from one bedroom. The separate ADU was thoughtfully designed to maximize its approximately 384 SF footprint and includes a full kitchen, full bath, dedicated laundry hookup, mini-split heating and air conditioning, and its own private exterior entrance. Refrigerators and ranges are included in both residences, and each unit has its own stackable laundry hookup.
Live in the primary residence and rent the ADU, occupy the ADU while leasing the larger home, or operate both as rentals - the property offers exceptional flexibility for an owner-occupant, multigenerational household, or investor.
Outside, the unusually deep lot provides a two-car carport plus extensive additional space for parking, vehicles, storage, outdoor use, or future development. The property is located within Long Beach's PD-30 Downtown Plan area and a designated Opportunity Zone. Importantly, the property previously received City approval for development of five condominium units, demonstrating its substantial redevelopment potential. Selling agent and buyer to independently verify current zoning, development standards, entitlements and Opportunity Zone benefits.
The ADU has passed final inspection with the City and is a fully legal unit. A unique combination of a move-in-ready home, independent second residence, abundant land and long-term development optionality. Read Less
Built in 1909, Living area: 1200.0, Living area units: SquareFeet, Building faces North, 1 storey, Levels: One, Entry level: 1, Entry location: Front door, Construction Materials: Stucco
Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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