427 E Platt ST Long Beach, CA 90805
UPDATED:
Key Details
Sold Price $450,000
Property Type Single Family Home
Sub Type Single Family Residence
Listing Status Sold
Purchase Type For Sale
Square Footage 540 sqft
Price per Sqft $833
Subdivision North Long Beach (Nlb)
MLS Listing ID OC26008017
Bedrooms 1
Three Quarter Bath 1
Year Built 1924
Lot Size 2,260 Sqft
Property Sub-Type Single Family Residence
Property Description
THE ASSET: A 540 sq. ft. 1BD/1BA cottage that is the ultimate "Condo Killer." Why pay an HOA fee and be told what to do? Here, you own the lot, the home, and a private backyard sanctuary. With this house, you're literally buying the lowest entry point into a high-demand zip code.
THAT'S NOT ALL (THE AB 2533 ADVANTAGE): The "unpermitted" rear structure used to be a headache—now, it's your pathway to wealth. Under California's Assembly Bill 2533, the state has paved the way for homeowners to legalize existing unpermitted structures. Save yourself from spending $100k+ building from the ground up and transform it into a stunning primary retreat, home office, or You can even turn it into an ADU and let your tenant grow your net worth while paying a huge chunk of your mortgage payment.
INVESTORS: The margins here are mouth-watering. A small footprint means a lightning-fast renovation. No year-long holding costs. This is the perfect "In-and-Out" flip or a "BRRRR" that will appraise through the roof. The Model Match next door proves exactly what the finished product is worth.
HOMEBUYERS: Every time you buy a flipped home, you make flippers rich. Instead, use an FHA 203k, VA Rehab, Fannie Mae HomeStyle, or Freddie Mac CHOICE loan to buy the home AND fund your renovation in ONE shot. Your Instagram-worthy kitchen? Done! The different design ideas you've fallen in love with? Done! The finishes You Want, all financed together, and by the time you move in, you've earned more in equity than most people earn in years of salary.
This is the entry-level price point Long Beach has been starving for. It's quiet, it's friendly, and the math is undeniable. This home is a "Unicorn" where the numbers work for everyone—from the first-time buyer to the seasoned pro.
THE BOTTOM LINE: With a $250k potential spread and the AB 2533 ADU loophole, don't let someone else take what should be yours. This is your chance to finally buy a home pennies on the dollar handed to you on a silver platter. Sold As-Is
Location
State CA
County Los Angeles
Area 7 - North Long Beach
Interior
Cooling None
Fireplaces Type None
Laundry None
Exterior
Garage Spaces 1.0
Garage Description 1.0
Pool None
Community Features Biking
View Y/N No
View None
Building
Lot Description 0-1 Unit/Acre
Story 1
Sewer Public Sewer
Water Public
New Construction No
Schools
School District Long Beach Unified
Others
Acceptable Financing Cash, Conventional, 1031 Exchange, FHA 203(k), Fannie Mae, Freddie Mac, VA Loan
Listing Terms Cash, Conventional, 1031 Exchange, FHA 203(k), Fannie Mae, Freddie Mac, VA Loan
Special Listing Condition Standard
Bought with Davis Nicart E Realty
NEARBY SCHOOL & BUSINESS
Real Estate Professional | License ID: 01908969
+1(619) 309-7405 | sandy@sandysellssocal.com