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Property Description

534 Maine Ave is a 4-unit building, originally built in 1924. This property comprises (3) spacious 2-bedroom units, each approximately 725 square feet, and (1) 1-bedroom unit at 460 square feet. One of the 2-bedroom units are currently vacant offering opportunity for a owner-user. Additionally, there is a 30% potential rental upside, providing an excellent opportunity for income growth with market adjustments. The property has been meticulously maintained and upgraded, reducing the need for substantial capital expenditures. The owner has undertaken significant improvements, including modern renovations to all units, creating a fresh, move-in-ready atmosphere. Updated landscaping enhances the curb appeal and ensures low-maintenance upkeep for future ownership. Each unit is individually metered, the owner covers water and sewer costs, while tenants are responsible for gas, trash, and electricity. This is a perfect fit for an investor or owner-user looking for a turnkey, well-located property with major capital improvements already completed, offering immediate cash flow and future upside potential.

Overview

Property Status
Sold
Date Sold
January 3, 2025
Lot Size
5,015 Sq.Ft.
MLS ID
24-462853
Property Type
Multi-Family
Year Built
1924

Features & Amenities

Neighborhood
Long Beach
Stories
2
Parking
On street
Heat Type
Wall Gas
Air Conditioning
Air Conditioning
Laundry Room
In Unit
Appliances
Cable, Ceiling Fan, Dishwasher, Dryer, Hood Fan, Microwave, Range/Oven, Refrigerator, Washer
Sales Price
$1,185,000
Zoning
LBPPD1

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534 Maine Ave

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