Closed – 4 Units on an Island Lot in Bixby Knolls | $1,725,000
Harrison Hyde and Johnnie Stiegler are pleased to have closed 3690-3692 Country Club Dr, a 4-unit property in Long Beach!
This property sold for $1,725,000
Situated on a rare, gated 12,898 sqft. island lot are (4) 3-bed/2 bath mid-century modern units each over 1,200 sqft. and (4) single car garages. The units are situated within (2) 2 story buildings with all units sharing the same floor plan. The 3692 Country Club building has recently had both units upgraded with newer countertops and laminate flooring while the 3690 Country Club building has newer countertops and carpeting. Both buildings have had their electrical systems upgraded and plumbing updated with full copper plumbing. The property generates extra monthly income from their on-site laundry area with (2) coin operated washers and (2) coin operated dryers.
The property is located in the popular Bixby Knolls neighborhood recently named by the LA Times as one of the most sought after areas in Long Beach. Over the past few years Bixby Knolls has seen a huge amount of changes attracting businesses and people from all over. Bixby Knolls offers residents access to popular destinations such as Steelcraft, Bake and Broil and has recently attracted multiple breweries including Liberation Brew Co., Smog City Brewing, and Dutches Brewhouse to name a few. The property is also located a short distance from the prestigious Virginia Country Club, Long Beach’s premier private golf course.
This property has never seen the open market and is an incredible opportunity for an investor and/or owner-user to own a rare trophy property in an area that is rapidly growing, with upward potential in the current rents.
• Unit Mix: (4) 3-Bed/2-Bath Units with natural light
• (2) 2,432 SF Two-Story buildings totaling 4,864 SF
• 12,898 SF gated lot with no immediate neighbors
• Market 5% CAP & 14.2 GRM in Bixby Knolls!
• (4) Single car garages and street parking
• INCREDIBLE LOCATION: Located near Virginia Country Club and popular shopping including Steelcraft
• Property has never been on the open market
• Highly sought-after market with limited inventory
Long Beach has emerged as a popular coastal community in Southern California. Located south of the city of Los Angeles, it has a population of about 471,000. Located near the 405 and 710 freeways, and with access to the Metro Blue Line train, Long Beach provides easy commutes to major employment hubs in Los Angeles and Orange County. Long Beach is also home to major businesses such as Verizon, Molina Healthcare, and the Port of Los Angeles.
Dozens of projects are transforming the city’s landscape, with more than $2.5 billion in capital pouring into Long Beach. These include the Douglas Park Redevelopment, a 261 acre mixed-use project on the site of the former Boeing campus. It will bring over 5,000 jobs to Long Beach and will be home to nearly 30 businesses such as Mercedes-Benz US West headquarters and Virgin Galactic.
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