Property listed by Thornton Realty, Brian Thornton 562-756-9354
$850,000
Welcome to 1345 Termino Avenue, a charming 1923 Craftsman-style cottage tucked away on a quiet cul-de-sac in the Eastside/Traffic Circle area of Long Beach. This unique property offers something for several types of buyers: a charming home for someone who appreciates historic character, an income-producing property for an investor, and… Read More an intriguing opportunity for a contractor or developer looking toward the property's future potential or as a future home to live in later.
No HOA
RECENT IMPROVEMENTS:
Roof replaced in 2022, Most plumbing updated in 2023/2024, Some electrical wiring replaced in 2022, Attic insulation, Garage door replaced with a newer roll-up door
For investors, this property offers an important advantage: there is an existing lease that transfers with the sale.
The property is zoned LBR2N, identified in current listing information as 2-Unit Residential. The property's zoning and applicable California housing laws may provide opportunities for additional residential development, but buyers should independently verify allowable density, unit count, setbacks, parking, ADU/JADU possibilities, and all other development requirements with the City of Long Beach.
For the contractor/developer:
A strategically located LBR2N property where zoning and current regulations may create opportunities to explore additional residential units or future development, subject to city approval.
For the long-term investor:
The ability to hold the existing property and income while studying future development possibilities1345 Termino Avenue — a piece of Long Beach history with income potential and possibilities for the future.
Buyer to independently verify all zoning, development potential, allowable units, parking requirements, ADU/JADU eligibility, permits, dimensions, square footage, and other property information with the City of Long Beach and appropriate professionals. Development possibilities are subject to applicable laws, regulations, approvals, and permits.
Offers made subject to inspection. Existing Lease transfers with sale. Seller will consider cooperating with buyer's 1031 exchange at no expense to seller. No Homeowners Association. Read Less
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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