Long Beach has many different communities where you can find historic homes for the early 1900's. One of the nicest and most desirable locations is the historic Belmont Shore neighborhood. In the early 1920's, Belmont Shore saw a large number of Spanish and Bungalow style homes being built. The homes are typically on the smaller size as these were vacation beach homes for those who lived in the Los Angeles. On average the homes will feature two to three bedrooms and often have less than 1,500 square feet of living space. Typically these smaller homes can still be purchased for around $700,000 and are located just several blocks to the beach.
The Belmont Shore also has large historic homes that currently sell as high as $1,450,000. These are larger scaled homes that average 2,300 square feet and often featured beamed ceilings, For the most part, these older homes can easily be purchased for under one million dollars for a completely remolded historic home. There are many other Long Beach historic neighborhoods like Rose Park and Wrigley area but none has the close proximity to the beach and the desirability that Belmont Shore has to offer. There is also a tax advantage that can be gained by buying these older homes as well.
The Federal Mills Act Organization will give qualified homes a special tax break for owning these historic homes. Typically these homes will be already identified as being in the program and can pass on the annual tax savings even after transferring the home through a sale. Older homes can also apply to be covered under this program which takes anywhere up to a year to see if the home qualifies. For those wanting to learn more about buying a home in the Long Beach area please call or email us today.