I hope you are having a fantastic May so far!
Does it seem to you like there is a lot going on these days? Like, the stock market going down, cryptocurrency going down, prices of real things like gas going up…. it’s a lot of turmoil, isn’t it? I agree, it is a lot to process.
But some things never change, and that is the enduring value of real estate. That is why they call it Real. Estate. Real property. Something you can feel and touch and live it or have your family live in or rent to another person to live in or rent to a family to live in. And something you own in perpetuity when you buy it – and what I mean by that is, it doesn’t go away. It’s not just for your lifetime. It outlives you. It goes to your heirs when you go away. That’s why it is called Real ESTATE. When you buy a home, you aren’t just buying a place to call your own, roof over your head, place to put all your great stuff, to house your family, remodel to your heart’s content. It’s also building your Estate.
So while I may never under cryptocurrency, or blockchain, or NFTs, or whatnots, I will always understand real estate, and its true, long term value. (Does it make me old fashioned?)
So I digress. Let me get to the point of this blog post, and that is to share with you this new exciting new great listing:
757-759 North Loma Vista, Long Beach, CA 90813
Did you have a chance to look at the video tour of this property?
Here is an opportunity for investment or LIVE IN ONE AND RENT THE OTHER!
Two detached homes on a lot! This is a charming early 1900s historic duplex in the Willmore area of Long Beach which has been completely remodeled and consists of houses on one lot. A perfect opportunity for an investor who loves this tree lined area, and sees the future appreciation in this area. Both homes have been tastefully updated with laminate wood flooring throughout, quartz countertops, soft close drawers, custom lighting, custom hardware, and stainless steel appliances.
Each interior boasts a flood of natural light with the beautiful historic windows in place. The spacious front home has 3 bedrooms, 2 baths and a loft. The back home is a 2 bedroom and 1 bath. Both homes have separate interior washer and dryer area with updated appliances.
The backyard outside has a large grassy area with mature trees for relaxing, and a hardscaped area for gatherings. There is a private gate in the back which encloses the property and opens to three parking spaces. The property is ideally situated near downtown Long Beach shops, restaurants, and entertainment, and is close to freeways and the beach!
The current total income of the property is $5100 per month ($3000 for the front house, $2100 for the back house), but there is plenty of upside in the rents. As the property is fully tenant occupied, this makes an excellent 1031 exchange purchase for those of you who may be thinking of doing an exchange and you want to sell that condo or older house or apartment building that no longer serves you – this upgraded gem is waiting to be in your portfolio!
Questions? Please call us at 562-472-1435. Or send me an email at NancyD@century21masters.com.