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    360 W Ocean Boulevard , #507

    Long Beach, CA 90802
    • $350,000 - $385,000
    • STATUS: ACTIVE
    • ON SITE: 156 days
    • ID#: 302464722
    Price Reduced
    UPDATED: 31 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

    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 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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    This information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particular property. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g. square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, non-commercial use in accordance with the foregoing purpose are prohibited. Redistribution or copying of this information, any photographs or video tours is strictly prohibited. This information is derived from the Internet Data Exchange (IDX) service provided by San Diego MLS. Displayed property listings may be held by a brokerage firm other than the broker and/or agent responsible for this display. The information and any photographs and video tours and the compilation from which they are derived is protected by copyright. Compilation © 2020 San Diego MLS, Inc. Licensed in the state of California.
    www.solisteamrealty.com/homes/105157714
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    360 W Ocean Boulevard , #507 Long Beach, CA 90802

    • Price: $350,000 - $385,000
    • Status: ACTIVE
    • Updated: 31 min ago
    • ID#: 302464722
    3
    Beds
    2
    Baths
    0
    ½ Baths
    0.17
    Acres
    1,766
    SQFT
    $218
    $/SQFT
    1922
    Built
    Neighborhood:
    Long Beach (90802)
    County:
    Los Angeles
    Area:
    Long Beach (90802)
    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 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

    Exterior Stucco Lot Size 4000-7499 SF Parking Garage Description None Known Parking Spaces Total 0 Patio Terrace Pool N/K Residential Styles All Other Attached Residential Unit Location End Unit2+ Common Walls Site Curbs Spa N/K View NeighborhoodCity Lights

    Interior Features

    Bath Totals 2 Bedrooms Total 3 Cooling N/K Equipment Available Electric Oven Fireplace N/K Floor Coverings Laminate Heat Equipment N/K Laundry Location Community Searchable Rooms All Bedrooms UpConverted Bedroom Stories 1 Story

    Property Features

    Accessibility Features None Architectural Style TraditionalTudor/French NormandyVictorian Assessments Unknown Home Owners Assoc Payment Freq Monthly Home Owners Fees 832.0 Miscellaneous Urban Other Structures Two On A Lot Property Condition Additions/Alterations Sales Restrictions Standard Security Card/Code AccessResident Manager Sewer Septic Unknown Terms CashConventionalExchangeLand ContractSeller May CarryCash To New LoanSubmit Units In Complex 98 Utilities Electricity ConnectedSewer ConnectedWater Connected Water Other/Remarks Zoning Lbpd6

    Listing provided courtesy of Coldwell Banker Realty. Listing information © 2020 San Diego MLS Inc. Source: CRMLS
    This information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particular property. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g. square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, non-commercial use in accordance with the foregoing purpose are prohibited. Redistribution or copying of this information, any photographs or video tours is strictly prohibited. This information is derived from the Internet Data Exchange (IDX) service provided by San Diego MLS. Displayed property listings may be held by a brokerage firm other than the broker and/or agent responsible for this display. The information and any photographs and video tours and the compilation from which they are derived is protected by copyright. Compilation © 2020 San Diego MLS, Inc. Licensed in the state of California.
     
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    206 N. Freeman St.
    Oceanside CA, 92054