As we kick off 2021 we're going to be highlighting the 12 most beautiful 4- Plexes in Long Beach. These apartments are currently not for sale, but we want to highlight Owners who are doing it right.
In the beautiful neighborhood of Bluff Heights, we find the Coronado apartments. Built in 1927, this charming Spanish Colonial Revival style 4-plex is composed of a highly desirable unit mix of four two bedroom, one bath units.
The Location: Bluff Heights
Bluff Heights is a section of the Alamitos Beach Townsite which was originally planned by John W. Bixby in 1886. Before Bixby died, he had originally named the streets in Spanish. When the land was annexed to the city of Long Beach in 1905 and the street names were changed, Descanso became Orange Avenue, Independencia became Cherry Avenue, Kalamazoo became Kennebec, Modjeska is now Molino, and Naranjo was renamed Temple.
Today, the Bluff Heights Historic District continues to represent a vibrant older residential neighborhood in Long Beach with many Craftsman and Spanish Colonial Revival single-family structures. Although the area is predominantly Craftsman Bungalow, in the early twenties, Spanish Colonial Revival and Prairie Style single-family and multi-family residences began to appear. In the later twenties and thirties Colonial Revival, Tudor Revival, and Art Deco structures were built.
During the late thirties, forties, and early fifties Neo-Traditional homes and apartment buildings began to appear. It was not until the sixties, seventies, and early eighties that large-scale multi-family structures were built. In the early to mid-eighties developers came into Long Beach, tearing down these older homes and building in their place 8 or 9 unit apartment buildings better known as “cracker boxes.” Before local residents realized what was happening, many neighborhoods were destroyed or on their way, having lost the wonderfully charming historic homes.
The Bluff Heights neighborhood was saved, for the most part, by a group of residents who fought for “down zoning,” resulting in stopping further destruction of historic properties. An active homeowner association successfully sought historic designation for the neighborhood, allowing the creation of the Bluff Heights Historic District in July 2004. By doing this, over 600 contributing structures were saved and this will continue to protect its historical integrity. This designation means that new home construction, including remodeling, renovation, and even exterior painting must undergo thorough review.
Located half a mile from the beachfront and walking distance from Mann elementary school, it is a great location for any family.
The Property: The Coronado Apartments
Completely renovated in 2007, each unit has been improved to make the property more attractive and increase its value. Coined “Top Shelf Apartments,” these units now include amenities from beautiful custom cabinetry to stainless steel appliances to hardwood and tile flooring. By ditching the basic and cheap cabinets and appliances, and making all the right upgrades that make the difference to the tenant, the resident will pay more for a higher quality apartment unit.
Featuring high 10 foot ceilings with exposed beams to separate formal dining rooms and laundry rooms in each unit, this property is very attractive to residents. Tenants pay more, stay longer, and will appreciate having laundry within the units; in fact, on average, a tenant will pay $250 more per month to avoid having to go to the laundromat.
The property also includes a parking garage with 4 garage spaces.
This property is unique because it has a completed tract map which gives the owner the options to rent as units or to sell units individually as condos.
In addition, each unit includes its own balcony which gives the tenant the feeling of having a small private area, and right now that's more important than ever. With COVID-19 and the mandatory work (and learn) from home, having a little private area to retreat to is a big plus to the tenant base, as they are spending more time at home than ever before.
Bluff Heights is more expensive than Rose Park to the north, but less pricey than Belmont Heights to the east, with larger homes and better access to the shore. Currently there are four 4-plexes on the market and one in escrow at $1,599,000 in the 90814 zip code.
Year-to-date, there have been seven 4-plex sales in the 90814 zip code.
The average sales price of the fourplexes in this area in 2020 is $1,472,432. This is a $251,000 (or 20%) increase from 2019, where the average sales price was $1,220,625.
Why this 4-Plex?
We chose this 4-plex because of its charming, original Spanish Revival-style architecture and the rare lifestyle opportunity provided by its location. We also appreciate property that provides maximum value to its residents, and we wanted to commend the Owners who make it all possible by continually renovating and improving their property.
We want to highlight your building!
We want to commend Owners who maintain and restore their apartment buildings and provide top value units to their residents.
How to got YOUR 4-Plex featured as the 4-Plex of the Month:
If you know a 4-Plex owner, or are a proud 4-Plex owner yourself, contact Juan Huizar directly at cell # 562-307-0838 or email: email@example.com to get your building highlighted!