StatusAccepting Backup Offers (Active Under Contract)
About 1133 Freeman Ave
6.18% CAP RATE! Newer 1971 build. This 16 unit Pride of Ownership asset is located in the highly coveted eastside of Long Beach. Property not only is being offered at an amazing 6.18% cap rate and a 10.5 GRM, but also comes with 9 Garages and 10 additional exterior parking spaces for a total of 19 parking. 1133 Freeman has a very desirable unit mx consisting of (6) 2Bed+1Bath, (8) 1Bed+1Bath and (2) Studio+1Bath units. An additional four 2 bedroom and 2 bathroom ADU's can be built in the garages for approximately $600K while still maintaining 16 exterior parking spaces on the site. The 4 additional ADU's will bring in $2600 a month each or $124,800 annually for a value of a 4.8 GRM or a 20% return annually. The tax accessor has allocated 81% of the assets value to the improvements giving a buyer a significant depreciation schedule (Most buildings are 50/50). This will be a further help for a buyer as they can currently collect 60% bonus depreciation and likely 100% retroactively if the current tax relief bill gets finalized on the senate floor. All units are separately metered for gas and electric and property is impeccably maintained. This property has the best current cap rate, price per foot, price per door GRM combo available on the market. With upside to over a 10.5% CAP rate this property truly is the best building you can buy right now and is perfect for any type of investor. CALL FOR OFFERS 8/14 5pm All offers will have a chance to tour the asset the week of August 5th.
Property Details
Property Features
Property Information:
Year Built: 1971
Stories: 2
Listing Office:
Office Name: Lyon Stahl Investment Real Estate, Inc.
Office Phone: (310) 259-7556
Listing Agent: Cameron Samimi
Exterior Features
Exterior Information:
Private Pool: No
Parking Information:
Garage Space: 9 spaces
Lot Features
Lot Information:
Lot Size: 0.29 Acres
Other
Directions Information:
Directions: Off Obispo Ave and Anaheim St
Price Information
Listing Price Info
Price Summary:
List Price: $3,300,000
Tax Information:
Annual Amount: $9,502
Tax Year: 2021
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Housing Market Comparison
See how this home compares to others in Long Beach, CA.
This property is $2.4M more than the Median Sold Price in Long Beach, CA.
Based on homes sold in the last 12 months
MLS Details
MLS Information:
MLS Name: CRMLS
MLS Number: #SB24158172
Listing Office:
Office Name: Lyon Stahl Investment Real Estate, Inc.
Office Phone: (310) 259-7556
Listing Agent: Cameron Samimi
Based on information from California Regional Multiple Listing Service, Inc. 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. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
The information being provided by California Regional Multiple Listing Service, Inc. (“CRMLS”) 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. Any information relating to a property referenced on this web site comes from CRMLS. Properties may or may not be listed by the office/agent presenting the information. Real estate listings held by brokerage firms other than this broker are marked with the Internet Data Exchange logo and detailed information about them includes the names of the listing brokers and listing agents. MLS search engine provided by IHR Technology Services. This data is updated every 2 hours. Some properties appearing for sale on this display may subsequently have sold and may no longer be available. Data displayed may be a portion of, and not a complete set of all listings published in the MLS. Last updated on: 11/17/2024, 8:20:56 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
Property Sales & Tax
Tax History
YEAR
PROP. TAX
ASSESSMENT
2021
$9,502
$567,508
2020
$9,366
$559,789
2019
$8,947
$548,814
2018
$8,850
$538,054
2017
$8,850
$527,505
History based on county public records data.
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Schools
Schools Nearby
The school rating is a score out of 10, where 10 is the highest and 1 is the lowest. Assigned schools have a bold outline.
We're sorry, we currently don't have assigned school data for this listing.
Nearby Schools
5
/10
Willard Elementary School
1055 Freeman Ave
Distance between this listing and this school0.11 miles
Public District Grades KG-5
6
/10
Nieto Herrera Elementary School
1620 Temple Ave
Distance between this listing and this school0.45 miles
Public District Grades KG-5
7
/10
Bryant Elementary School
4101 E Fountain St
Distance between this listing and this school0.65 miles
Public District Grades KG-5
Nearby Schools
7
/10
Jefferson Leadership Academies
750 Euclid Ave
Distance between this listing and this school0.55 miles
Public District Grades 6-8
4
/10
Jessie E. Nelson Academy
1951 Cherry Ave
Distance between this listing and this school1.12 miles
Public District Grades 6-8
4
/10
Franklin Classical Middle School
540 Cerritos Ave
Distance between this listing and this school1.36 miles
Public District Grades 6-8
Nearby Schools
6
/10
Wilson High School
4400 E 10th St
Distance between this listing and this school0.91 miles
Public District Grades 9-12
4
/10
Richard D. Browning High School
2120 Obispo Ave
Distance between this listing and this school1.03 miles
Public District Grades 9-12
1
/10
Clear Passage Educational Center
1471 Martin Luther King Jr Ave
Distance between this listing and this school1.45 miles
The neighbors living near this home have an average income of $37,718. Most Long Beach, CA residents have annual incomes less than $35k. Most families are single, no kids. The majority of residents in this area have high school diploma education.
All data provided by Home Junction and Claritas
Frequently Asked Questions About 1133 Freeman Ave
What is the listing price of this property?
The listing price of 1133 Freeman Ave property is $3,300,000.
What type of property is this?
The property 1133 Freeman Ave is a condo located in Long Beach, California, 90804.
Is this property for sale now?
Accepting Backup Offers: 1133 Freeman Ave is Accepting Backup Offers (Active Under Contract), there is still a chance to have your real estate agent submit an offer.
What is the annual property tax for this property?
According to the records, the last property tax for 2021 is $9,502 (source: MLS/based on county public records data).
Which year was this property built?
The year of construction for 1133 Freeman Ave is 1971.
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This home is located at 1133 Freeman Ave in Long Beach, CA and zip code 90804 in the The Harbor neighborhood. This home, which was built in 1971, sits on a 0.29 acre lot. It has been listed on Rocket Homes since August 05, 2024 and is currently priced at $3,300,000.
While more than 94 listings in Long Beach, CA in October 2024 were sold above asking price, there were more than 35 listings sold at asking price, and more than 83 were sold below. Between September 2024 and October 2024, Long Beach, CA real estate market has seen decrease in the number of listings by 0.1%. The median list price of listings available in October 2024 was $824,667, while the average time on the real estate market was 34 days.
From Rocket Homes Real Estate and based on county public records data.
Based on information from California Regional Multiple Listing Service, Inc. 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. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. 
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