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    360 W Ocean Boulevard , #507

    Long Beach, CA 90802
    • $350,000 - $385,000
    • STATUS: Active
    • ON SITE: 262 days
    • MLS #: OC20052296
    UPDATED: 53 min ago
    $350,000 - $385,000
    • 3
      BEDS
    • 0.17
      ACRES
    • 2
      BATHS
    • 0
      1/2 BATHS
    • 1,766
      SQFT
    • $218
      $/SQFT
    Neighborhood:
    Type:
    Condo
    Built:
    1922
    County:

    School Ratings & Info

    School District:

    Description

    Please read description carefully. What we have here are a package of two condos, that were merged on title decades ago as a single APN. There is a process through the city of Long Beach that an owner can go through the process of splitting them back to two separate APN's, and make the two units legally separate again. At this time, as we reduce the asking price from $740K for the entire package to a single buyer, to modifying the offering to seeking two separate buyers that will buy the property together as Tenants In Common. (TIC) It is possible to do this using traditional financing, and my lender states that he can do this. The way it would work would be, one buyer would be paying $350K for the rights to unit# 507, which is a 777 sq.ft 1 bedroom, and the partnering buyer would pay $385K for unit #508, which is 951 sq.ft, 2 bedroom/or 1 bedroom + den. The location within the building is excellent, with beautiful views of the vibrant downtown area. You're smack dab in the middle of all the action in a building with great character and style. Due to the fact that you're buying as TIC, which is not an ideal scenario, and it will take time, effort, and some money to go through conversion process, the sales price reflects this, as the last sale of the 777 sq.ft floor plan was $400K, and the larger corner units rarely come up for sale. It would likely fetch in the $450K range in today's market as an estimate. Please contact agent with questions.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2020-11-27T17:28:46.687. This information 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. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Desert Area Homes For Sale | Premier Properties. Licensed in the State of California, USA.

    www.desertareahomesforsale.com/homes/103998423
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    360 W Ocean Boulevard , #507 Long Beach, CA 90802

    • Price: $350,000 - $385,000
    • Status: Active
    • Updated: 53 min ago
    • MLS #: OC20052296
    3
    Beds
    2
    Baths
    0
    ½ Baths
    0.17
    Acres
    1,766
    SQFT
    $218
    $/SQFT
    1922
    Built
    Neighborhood:
    Other (Othr)
    County:
    Los Angeles
    Area:
    4 - Downtown Area, Alamitos Beach
    School District:
    Long Beach Unified
    Property Description
    Please read description carefully. What we have here are a package of two condos, that were merged on title decades ago as a single APN. There is a process through the city of Long Beach that an owner can go through the process of splitting them back to two separate APN's, and make the two units legally separate again. At this time, as we reduce the asking price from $740K for the entire package to a single buyer, to modifying the offering to seeking two separate buyers that will buy the property together as Tenants In Common. (TIC) It is possible to do this using traditional financing, and my lender states that he can do this. The way it would work would be, one buyer would be paying $350K for the rights to unit# 507, which is a 777 sq.ft 1 bedroom, and the partnering buyer would pay $385K for unit #508, which is 951 sq.ft, 2 bedroom/or 1 bedroom + den. The location within the building is excellent, with beautiful views of the vibrant downtown area. You're smack dab in the middle of all the action in a building with great character and style. Due to the fact that you're buying as TIC, which is not an ideal scenario, and it will take time, effort, and some money to go through conversion process, the sales price reflects this, as the last sale of the 777 sq.ft floor plan was $400K, and the larger corner units rarely come up for sale. It would likely fetch in the $450K range in today's market as an estimate. Please contact agent with questions.
    Exterior Features

    Architectural Style FrenchTraditionalVictorian Construction Materials Stucco Direction Faces Northwest Foundation Details See Remarks Garage Spaces 0.00 Lot Features Over 40 Units/Acre Lot Size Source Assessor Lot Size Units Square Feet Other Structures Two On A Lot Parking Features None Parking Total 0.00 Parking YN No Patio And Porch Features Terrace Patio YN Yes Pool Features None Pool Private YN No Property Attached YN Yes Road Surface Type Paved Roof Other Spa Features None Spa YN No Structure Type Multi Family Uncovered Spaces 0.00 View City LightsNeighborhood View YN Yes Waterfront Features Across The Road From Lake/OceanOcean Side Of Highway 1

    Interior Features

    Appliances Electric Oven Appliances YN Yes Bathroom Features Shower Bathrooms Full 2 Common Walls 2+ Common WallsEnd Unit Cooling None Cooling YN No Eating Area Breakfast Nook Fireplace Features None Fireplace YN No Flooring Laminate Heating None Heating YN No Interior Features Open Floorplan Kitchen Features Stone Counters Laundry Features Community Levels One Main Level Bathrooms 2 Main Level Bedrooms 3 Room Type All Bedrooms UpConverted Bedroom

    Property Features

    Accessibility Features None Additional Parcels YN No Association Amenities Clubhouse Association Fee 832.00 Association Fee Frequency Monthly Association YN Yes Community Features BikingCurbsWatersportsStreet LightsUrban Country Us Electric Electricity - Unknown Elevation Units Feet Land Lease YN No Laundry YN Yes Lease Considered YN No Living Area Units Square Feet New Construction YN No Number Of Units In Community 98 Property Condition Additions/Alterations Property Sub Type Condominium Security Features Card/Code AccessResident Manager Senior Community YN No Sewer Unknown Special Listing Conditions Standard Subdivision Name Other The Sovereign Utilities Electricity ConnectedSewer ConnectedWater Connected Water Source See Remarks Year Built Source Assessor Zoning Lbpd6

    Listing provided courtesy of Michael Bojorquez of Coldwell Banker Realty


    Based on information from California Regional Multiple Listing Service, Inc. as of 2020-11-27T17:28:46.687. This information 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. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Desert Area Homes For Sale | Premier Properties. Licensed in the State of California, USA.

     
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