July 2021 Fourplex of the Month

The Bluff Park Apartments

Located in Bluff Park, our backyard and an upscale neighborhood in Long Beach, you’ll find The Apartments on 1st St.. Built in 1920, this fourplex is in a magnificent location at just a block from the beach with constant upkeep by the owner. This property provides residents with maximum value; from parking for all four units, to common areas, to private balconies, you are sure to have happy residents.

The Location: Bluff Park

Bluff Park consists mostly of single-family and multi-family houses constructed between 1903 and 1949. Located along the ocean bluffs, large two-story Craftsman Bungalows and Period Revival styles predominate with a mix of other significant architectural styles.

As a landmark of Bluff Park, a replica of “The Lone Sailor” was dedicated to Long Beach on December 11th, 2004. As part of the casting process, the bronze for “The Lone Sailor” was mixed with artifacts from eight U. S. Navy ships, provided by the curator for the Navy in the Naval Historical Center at the Washington Navy Yard. The ships span the Navy’s history, yielding small pieces of copper sheeting, spikes, hammock hooks and other fragments from the post-revolutionary warships

One last addition was a personal decoration from today’s Navy, one given to sailors in war and peace, the National Defense Service Medal. These bits of metal are now part of The Lone Sailor.

The Property: The Bluff Park Apartments

This fourplex has a massive 8,258 sf lot with 5,522 sf of living space. The unit composition is (4) 2 bedroom, 1 bathroom units with a large common area in the rear.  With 4 parking garages, this property provides parking to all residents. There is nothing worse than lapping the block multiple times simply to find parking to get to your residence, so being that it is located in a parking impacted zone, parking is a huge value add.  Parking will lead to happier residents who will appreciate the value provided by the landlord and stay longer. 

This property provides residents with an abundance of natural light through huge front facing windows. Additionally, the balconies give residents the opportunity to have a private area to escape the work from home environment and take a breather.

Finally, it is located in a highly desirable neighborhood.  With a walkscore of 81, you can walk a block to reach Bluff Park, and a couple blocks to get to the grocery store and a plethora of restaurants and shops.

Currently there are three fourplexes on the market and one in escrow priced at $2,650,000 in the 90803 zip code. Year-to-date, there have been nine fourplex sales in the 90803 zip code.  

The average sales price of the fourplexes in this area in 2021 is $1,595,556, with a high price of $1,925,000, and a low price of $930,000. This is a $100,071 (or 7.6%) increase from 2019, where the average sales price was $1,311,308. 

We chose this fourplex because it is in a prime location, provides parking for all four units, has a common area, and even private balconies. We appreciate properties that provide maximum value to its residents, and we want to commend the Owners who make it all possible by continually improving their property.  

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