Long Beach Own Your Owns or Condos: What’s the Difference?

The difference between an Own Your Own (OYO) and a Long Beach condo is a philosophical one.

With a condo, one owns the airspace that the condo occupies, with an OYO you own an undivided interest in the complex with the right to occupy a certain apartment.  OYO has much more limited financing but otherwise is like a condo in that respect.

Long Beach Own Your Own Real Estate Statistics

Listed	Average Days on Market	Avg $$ / Sqft	Average Selling Price	List to Sales Ratio
5	52	$487.58	$298,770	99.51%

All Long Beach Own Your Owns Currently for Sale

1 / 20

$389,900

1

BED

1

TOTAL BATH

655

SQFT

1260 E 4th Street #3 Long Beach, CA 90802

Single Family Home For Sale

- Active

Just minutes from the Long Beach Pike and downtown attractions, walking distance to the 4th street corridor with hip boutiques, shopping and local favorites like the Social List, Canadian Pizza, Seabirds and Long Beach Art Theater. Step into this bea

New Listing - a week online

1 / 26

$329,000

1

BED

1

TOTAL BATH

643

SQFT

1260 E 4th Street #1 Long Beach, CA 90802

Single Family Home For Sale

- Active

It's been painted, polished, price improved and it's so ready for you to see! This spacious unit has newer flooring, updated bathroom, large bedroom and living room, lots of storage and...... wait for it.......a garage. Check out the NEW sliders in t

Featured

1 / 10

$350,000

1

BED

1

TOTAL BATH

705

SQFT

543 Cedar Avenue #1C Long Beach, CA 90802

Single Family Home For Sale

- Active

Beautiful Lower unit near Downtown Long Beach. 1 spacious bedroom 1 bathroom with a large closet. Lots of storage space, plus a built-in shelving unit. Very well maintained. Community Laundry room. Low HOA. Own Your Own. Gated Entry. Plenty of Street

1 / 10

$315,000

545

SQFT

815 Pacific Avenue #seven Long Beach, CA 90813

Single Family Home For Sale

- Active

THIS UNIT HAS BEEN TOTALLY REMODELED. NEW CUSTOM PAINT, NEW FLOORS, NEW APPLIANCES, NEW DOORS,COMPLETE KITCHEN REMODELED,NEW DRAPES., NEW CABINETS, NEW BATHROOM AND SHAWER, ETC.... IT LOOKS LIKE A MODLE HOME.! PLEASE CALL AGENT FOR AN APPOINTMENT.

New Listing - 2 weeks online

1 / 1

$335,000

1

BED

1

TOTAL BATH

569

SQFT

815 Pacific Avenue #1 Long Beach, CA 90813

Single Family Home For Sale

- Active

Own your own one bed one bath condo in the heart of Long Beach! More photos coming soon. Excellent location. Condo is located on the first floor end unit.

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What are the Financing Requirements for Long Beach Own Your Owns

Some of the Own Your Own buildings may be cash only due to having too many rentals in the community or this is an issue and it doesn’t qualify for financing. 

According to Ms. Josie Truong of LBS Financial who is one of the few lenders that I know that does loans on “own your owns”, you need 20% down to get financing for this type of property.  You can call her direct at 714-270-2490.

Additional Information Own Your Owns

I call them one of the first types of condominiums.  The number of own your owns has dropped over the years with a lot of them converting to condos status.  When you convert over to condominiums, it is easier to finance a purchase.  I only know one lender in Long Beach that can finance the purchase of an Own Your Own. 

Property taxes on either are segregated (billed to each unit on an individual assessor’s parcel number).

Do You Want a List of Long Beach Own Your Owns Properties Sent to You?

Long Beach has a small number of Own Your Owns (OYO) for sale.   If you are interested in this type of property, please contact us and we will email you a list of them. 

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