The Perks of Condo Living
Think of condos for sale in Long Beach, CA as vertical master-planned communities. Each development caters to different buyers, from ambitious professionals, to young families, to those who enjoy the finer things in life.
Perhaps the biggest perk of living in condos is the excellent location. Such projects are often found in the downtown area, giving residents easy access to shopping districts, entertainment options, work hubs, and public parks.
Their prime location also means you get stunning views of the city. Imagine waking up in the morning to watch the sun rise over the majestic Pacific Ocean — it’s a priceless sight only a select few properties can offer.
And though condos may require less maintenance than a single-family home, they are every bit as comfortable. There are many units that offer the same number of bedrooms and bathrooms as a house in the suburbs would.
What’s more, they often have luxurious amenities that add immense value to your lifestyle. These include relaxing green spaces, private fitness centers, 24/7 valet parking, and concierge service. Indeed, luxury condos can rival even the ritziest hotels in L.A., which is why they are the preferred residence of executives, celebrities, and other high-powered individuals.
Fun facts about Long Beach
- ● Long Beach gets 287 sunny days a year, practically making each day a great one to hit the beach or explore the neighborhood.
- ● Love being outdoors? You’ll be spoilt for choice in Long Beach, which boasts 169 public recreational spaces. These amenities include 26 community centers, two tennis centers, a municipal golf course, and two historic sites.
● You don’t have to go to Venice to enjoy a leisurely and scenic gondola ride. Just head over to the neighborhood of Naples — dubbed Little Italy on the Bay — which is a development designed to replicate a Venetian village. Gondoliers will take you through waterways lined with million-dollar waterfront homes.
- ● Long Beach is one of the most famous places in LA County, but did you know that it went by a different name long ago? It was originally called Willmore City after William E. Willmore, the founder of the city. The place was eventually renamed “Long Beach” after its picturesque five-and-a-half-mile beach. It just goes to show that a beautiful place by any other name is just as impressive.
- ● Even if you’ve never been to Long Beach, you’ve likely seen it on the big screen in movies like Transformers, Iron Man, and Star Trek. The city is also a location for TV shows such as Criminal Minds, CSI Miami, NCIS: Los Angeles, and Dexter.
History of Long Beach
Long Beach’s original inhabitants were a group of indigenous tribes, the most prominent of which were the Tongva people.
In 1542, the Spanish explorer Juan Rodríguez Cabrillo discovered the area and dubbed it “Bay of the Smokes” in reference to the local Indians’ smoke signals.
By the 1700s, King Carlos III awarded the land to a Spanish soldier named Manuel Nieto. Rancho Los Nietos measured 300,000 square acres and would eventually be partitioned into Rancho Los Alamitos and Rancho Los Cerritos, the latter of which is where modern-day Long Beach is found.
Like most other places in California, the area was used as ranchland during the 1700s and 1800s. In the 1880s, real estate developer William E. Willmore kickstarted Long Beach’s transformation into a residential community by building the first homes and schools. It would then be incorporated into the City of Long Beach in 1888.
Development skyrocketed with the arrival of the Pacific Electric trolley in 1902 and the discovery of oil in 1921. Before long, ports, a boardwalk, and various businesses sprouted throughout the city. Long Beach would eventually gain a reputation as a favorite resort destination among the wealthy.
Today, Long Beach is a city that’s thrumming with activity and brimming with promise. Is it any wonder why it has become one of LA County’s real estate hotspots?
Featured Properties in Long Beach
An overview of Long Beach’s condo market
Seaside living is the height of luxury and Long Beach’s property prices reflect that. According to data from Realtor.com, the median list price for all property types in the locale is $749,000. Despite the steep price tag, a home in Long Beach is an excellent investment as property values have increased by 15% year over year.
There’s a broad range of condos for sale in Long Beach, CA, from mid-rise buildings, to high-rise projects, to multi-building complexes, to mixed-use developments. Projects boast various architectural styles, too, including Mediterranean, Victorian, Neoclassical, and Mid-Century Modern. Quite a few are even historic, dating back to the early 1900s.
While you can find condos for sale in Long Beach, CA for as low as $200,000, premier units regularly fetch upwards of $700,000. You’ll get more than your money’s worth, however, thanks to premium features like:
● Scenic oversized windows
● High ceilings
● Natural stone countertops
● Hardwood flooring
● State-of-the-art kitchens
● Luxurious bathrooms
● Walk-in closets
● Spacious balconies
Moreover, residents of condominiums can also enjoy deluxe amenities such as:
● Private elevator access
● Rooftop patios
● Outdoor entertainment areas
● Resort-like pools
● Residents-only fitness centers
● In-house spa facilities
● Clubhouse access
● Docks for watercraft
It’s important to note, however, that not all condos for sale in Long Beach, CA are listed publicly — especially high-end ones. If you want to broaden your options and get the best deal possible, be sure to work with a trusted buyer’s agent like Timothy McClone who has access to these exclusive listings.
Types of condos for sale in Long Beach, CA
The great thing about condos for sale in Long Beach is that they cater to various kinds of buyers. Whether you’re buying one as a primary residence or an investment, you’re sure to find a unit that suits your goals. Among the types of condominiums you’ll find here are:
Condominium Type: Mid-rise
1500 Ocean sits right on the shore, giving residents unparalleled views of the Pacific Ocean and direct access to the water. This mid-rise development has only five stories and 70 units so it’s perfect for people who want more privacy. Its downtown location means you can easily walk to the various shops, restaurants, and trendy hangouts found in the area. Units range from 1,282 to 1,652 square feet and all have three bedrooms. Among the amenities you can look forward to are a sundeck, pool, clubhouse, and fitness center.
Condominium Type: High-rise
Few condos in Long Beach are as iconic as this Mid-Century Modern high-rise on 700 East Ocean Boulevard. International Tower’s most unique feature is its circular shape — a welcome sight in a sea of boxy buildings. Given its sheer height, most units have stunning views of either the ocean or the tony neighborhood of Hollywood Hills. The development has a total of 240 units, each one measuring between 880 to 2,180 square feet. Deluxe amenities include a private gym, a community pool, and a 24-hour doorman.
Long Beach Garden Homes
Condominium Type: Mixed-use
Long Beach Garden Homes may be a fairly new development but it’s already making waves in Long Beach’s property market. This mixed-use condo is composed of 36 luxury condo units and five street-level stores, meaning everything you need is right in your building. One-bedroom units measure 1,000 square feet, while two-bedroom units measure 1,300 square feet; each residence also has a balcony that extends your living space. Since it’s a new development, you can expect to find contemporary interiors as well as state-of-the-art appliances.
Ocean Club Tower
Condominium Type: Luxury
If you want to experience the height of luxurious living, Ocean Club Tower is the condo you’re looking for. This deluxe high-rise building is located on Long Beach’s so-called Millionaire’s Row and offers hotel-inspired amenities like a state-of-the-art gym, an in-ground heated pool, and a spa-inspired sauna. The lobby is no less impressive, featuring vaulted ceilings, mahogany panelings, and an etched-glass art installation. Its location is impeccable, too, as the building sits at the center of Long Beach Boardwalk, mere minutes away from the shore. Buyers can choose between one or two-bedroom units that measure 940 to 1,580 square feet.
Of course, this is just a sampling of the top-notch condos for sale in Long Beach, CA. To see more options, be sure to check our updated listings.
Tips for buying condos for sale in Long Beach, CA
The condo you should get largely depends on how you plan to use it. Below are tips for various scenarios to help you make the right decision:
As a primary residence
A condo is a great option for people who wish to downsize or those who want a lower-maintenance home. Should this be the case for you, make sure that both the location and amenities suit your lifestyle. For instance, downtown condos offer excellent convenience but the area does tend to be busier. If you enjoy living an active lifestyle, make sure the building you move to has features that support it.
You should also pay attention to what you can or can’t do to your unit. Since you’re living there full-time, you likely want to modify the space to suit your needs but your condo association might have restrictions that prevent you from doing so.
In a similar vein, look into who’s managing the property. The best condominiums hire reputable property managers who are tasked with the daily running and upkeep of facilities. This is crucial because an ill-managed condo will fall into disrepair, which can cause your home’s value to plummet and your association dues to skyrocket.
Lastly, ask if the condo has major projects that are in the pipeline. If the administration plans on refurbishing the clubhouse, for instance, you might be charged a special assessment on top of your association dues.
As a secondary or vacation home
Many people fall in love with Long Beach and purchase a condo unit here as a vacation home. This way, they no longer have to book a hotel whenever they wish to visit — they have guaranteed accommodation that’s always ready for them.
This is an excellent move provided you’re financially prepared for it. After all, you’ll likely be paying two mortgages simultaneously: on your current home and on your condo. Readying your finances is crucial to getting approved for a loan, especially if you’re buying a luxury property. Among the things you should do are:
● Review and increase your credit score
● Save up for a sizable down payment
● Get pre-approved for a mortgage
To subsidize your loans, you can rent out your property while you’re not using it. Do note, however, that you will be required to declare rental income and pay taxes on it. You’ll also need to hire a property manager who will maintain the property while you’re away and make sure it’s ready for short-term rentals.
Lastly, be aware that owning a second home may limit your travel options. After all, you’re more likely to spend your holidays at the condo since you want to maximize your investment. If you’re buying a unit in Long Beach, make sure you truly enjoy the place and won’t mind revisiting it regularly.
As an investment or rental property
Many of the tips for second homes apply to investment properties as well. However, if you’re buying condos for sale in Long Beach, CA for long-term leasing, there are a few things you have to consider.
First and foremost: do you like being a landlord? If you don’t have the time to look for tenants, collect rent, and conduct repairs, you might be better off hiring a property manager who can do these tasks for you. That said, you still have to familiarize yourself with your legal obligations as a landlord to avoid any lawsuits.
Another thing you shouldn’t overlook is ongoing costs. These include regular maintenance fees as all real estate properties are subject to wear and tear. Smart investors should also get landlord’s insurance to protect against property damage, loss of income, and personal injury liability.
Last but certainly not least, work out what your profit margin will be. Deciding how much rent to charge requires a delicate balance as it should be high enough to cover your mortgage and generate a tidy profit, but not so high that it turns away would-be tenants. Most experts agree that a margin of at least 10% is a good place to start.
As an international investor
If you’re a foreigner looking to invest in condos for sale in Long Beach, CA, there are quite a few things you should know beforehand.
Before anything else, find a trusted real estate agent with a Certified International Property Specialists (CIPS) designation. Not only are such realtors knowledgeable of local real estate regulations, but they often also speak your language which makes communication easier.
Since you’re a non-citizen and don’t have an American social security number, you’ll have to get an Individual Taxpayer Identification Number (ITIN) instead. This allows you to duly identify yourself to the IRS and file your annual property taxes. Do note that your tax liabilities will depend on your country of origin; if it has a tax treaty with the U.S., you only pay taxes to one country.
Live the good life in Long Beach, CA!
This wonderful seaside city awaits you — and The McClone Brothers are your trusted guide to buying condos for sale in Long Beach, CA.
More than just a listing agent, the brokerage is deeply involved in the local property market giving it unparalleled insight. In fact, it purchases real estate for its own portfolio and flips two to three properties a year. The company also provides value-added services such as property management and notarization, giving clients a one-stop-shop experience.
Take a look at the high praise clients give to The McClone Brothers:
“I was introduced to Timothy from an investment club I attended in Orange County, CA. He helped me purchase an eight-unit investment property in the Long Beach market. He followed through on his promises!” — Gary B.
“Timothy is a hard-working, honest realtor who is a great negotiator. He was great with handling any and all questions I had, and made my dream of renovating a home in Long Beach into a rental property a reality. He coordinated with all vendors and managed the project from start to finish. He currently manages the property for me. He is a no-nonsense guy and will work hard on your behalf. I highly recommend Timothy as a realtor.” — Eric S.
If you’re thinking of buying or selling your condo in Long Beach, get in touch with The McClone Brothers by calling 310.614.5602, sending an email to email@example.com, or using this contact page.