335 Redondo Ave Long Beach, CA 90814-2652
- Medical offices
- 1,524 SF
- 0.14 lot acres
Oct 20, 2021
Current Use by Public Records
- Dominique Benavidez, PHD / Psychologist / Child Psychologist
- AHWI Psychology Group / Wellness Center
- DBT Center of Long Beach - Therapist Long Beach CA Mental Health Services / Psychotherapist / Mental Health Service
- Dr. Mark C. Fairchild, MD / Psychiatrist
- Belmont Heights Mental Health / Mental Health Clinic
Property Details for 335 Redondo Ave
- Year built
- 1919
- Construction
- WOOD
- Lot size
- 0.14 lot acres
- Property size
- 1,524 SF
- Zone code
- LBCNR
- Property type
- Medical offices
- Property subtype
- Medical centers
- APN
- 7257-019-009
- APU
- 7257019009
Description
This exceptional investment opportunity presents a two-building medical office complex ideally situated in Long Beach's desirable Belmont Heights neighborhood. The property, located at 335 Redondo Ave, boasts a total of 1,524 square feet of net rentable space, spread across two single-story structures built in 1935, situated on a 6,250 square foot lot. Currently 100% occupied by an outpatient psychotherapy group practice since 2020, the property offers a strong, stable income stream with a 4.50% cap rate. The asking price is $1,350,000, translating to $885.83 per square foot. Recent upgrades include new roofs on both buildings (2023 and 2024), a new HVAC system in the front building (2024), upgraded electrical systems, and newer drought-tolerant landscaping. The property includes five convenient surface parking spaces. The front building comprises three office rooms, a conference room, a waiting room, an ADA-compliant bathroom, and a small kitchenette. The rear building features one office room, one conference room, a full bathroom, and a kitchenette. The property will be delivered vacant; the seller currently occupies the space but does not require a sale leaseback. The back house previously served as a residential rental unit, complete with a full bathroom and kitchen. This property is an excellent opportunity for owner-users or investors seeking a well-maintained, income-producing asset in a highly sought-after location. The Los Angeles County property (APN 7257-019-009) is zoned for medical use.
Value Estimations
-
AI approach
- Method
- Estimation
- Statistic approach
- $1,245,000
- ML approach
- $1,250,000
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $1,856,000
Market price range: $377k - $1.86M
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Location Insight
- Map
- Local Demand
- City
- Long Beach
- County
- Los Angeles
- State
- California
- Longitude
- -118.153
- Latitude
- 33.7693
- CBSA code
- 31080
- CBSA name
- LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA
