NOT LISTED FOR SALE
10 Beds
7 Baths
5,340 Sq Ft
4,502 Sq Ft Lot

Last Sold December 22, 2021

Last sale price $1,750,000 $328 Per Sq Ft

8 Days on Market

Highlights

  • Contemporary Architecture
  • Corner Lot
  • No HOA
  • Long Beach Polytechnic High School Rated A
  • Furnished
  • Den

About This Home

As of December 2021

BUSINESS PLUS REAL ESTATE. HUGE NET INCOME. SEVEN UNITS ALWAYS RENTED. THIS PROPERTY IS USED AS TRANSITIONAL HOUSING. PLEASE CALL BROKER FOR MORE INFORMATION. LOCATED AT THE CORNER OF EAST 10TH ST. AND MARTIN LUTHER KING JR. AVE.

Last Agent to Sell the Property

PEGGY FRENCH

Peggy French, Broker License #00455781 Listed on: 08/17/2021

Last Buyer's Agent

Donya Morgan-Douglas

KELLER WILLIAMS COVINA License #01402296

KELLER WILLIAMS COVINA

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1921

Lot Details

  • 4,502 Sq Ft Lot
  • Two or More Common Walls
  • Chain Link Fence
  • Landscaped
  • Corner Lot
  • Level Lot

Home Design

  • Contemporary Architecture
  • Apartment
  • Entry on the 1st floor
  • Flat Roof Shape
  • Slab Foundation
  • Stucco

Interior Spaces

  • 5,340 Sq Ft Home
  • 2-Story Property
  • Furnished
  • Den
  • Tile Flooring

Kitchen

  • Galley Kitchen
  • Gas Oven
  • Gas Range

Bedrooms and Bathrooms

  • 10 Bedrooms
  • 7 Bathrooms

Laundry

  • Laundry Room
  • Laundry Located Outside

Home Security

  • Carbon Monoxide Detectors
  • Fire and Smoke Detector

Parking

  • 2 Parking Spaces
  • Parking Available
  • Off-Street Parking

Outdoor Features

  • Exterior Lighting

Utilities

  • Wall Furnace
  • Natural Gas Connected
  • Gas Water Heater
  • Sewer Paid
  • Phone Available
  • Cable TV Available

Listing and Financial Details

  • Legal Lot and Block 7 / 19
  • Assessor Parcel Number 7274023010

Community Details

Overview

  • No Home Owners Association
  • 7 Units

Building Details

  • 6 Separate Electric Meters
  • 6 Separate Gas Meters
  • 6 Separate Water Meters
  • Electric Expense $4,800
  • Insurance Expense $2,900
  • Water Sewer Expense $3,600
  • New Taxes Expense $19,745
  • Operating Expense $31,245
  • Gross Income $199,200
  • Net Operating Income $167,955

Property Details

Home Type

Multi-Family

Year Built

Built in 1921

Lot Details

0

Listing Details

  • Assessments: Yes
  • Property Attached: Yes
  • Road Frontage Type: City Street
  • Road Surface Type: Maintained
  • Security: Carbon Monoxide Detector(s), Fire and Smoke Detection System, Smoke Detector(s)
  • View: No
  • Water Sewer Expenses: 3600.00
  • Zoning: LBR4N
  • Architectural Style: Contemporary
  • Property Sub Type: Apartment
  • Property Type: Residential Income
  • Parcel Number: 7274023010
  • Year Built: 1921
  • Special Features: None

Interior Features

  • Fireplace: No
  • Interior Amenities: Furnished
  • Stories: 2
  • Common Walls: 2+ Common Walls
  • Flooring: Tile
  • Appliances: Yes
  • Entry Level: 1
  • Levels: Two
  • Price Per Square Foot: 327.72
  • Room Type: Den, Galley Kitchen

Exterior Features

  • Foundation: Slab
  • Fence: Yes
  • Fencing: Chain Link
  • Pool Private: No
  • Roof: Flat
  • Spa: No
  • Construction Materials: Stucco

Garage/Parking

  • Parking: Yes
  • Parking Features: Off Street
  • Total Parking Spaces: 2.00

Utilities

  • Utilities: Cable Available, Electricity Connected, Natural Gas Connected, Phone Available, Sewer Connected, Water Connected
  • Heating: Yes
  • Laundry: Yes
  • Appliances: Gas Oven, Gas Range, Gas Water Heater, Refrigerator, Water Heater
  • Electric: Electricity - On Property, Standard
  • Heating Type: Wall Furnace
  • Laundry Features: Outside
  • Sewer: Public Sewer, Sewer Paid
  • Water Source: Public

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Common Interest: Community Apartment
  • Community Features: Curbs, Sidewalks, Street Lights

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: Corner Lot, Landscaped, Level with Street, Level
  • Lot Size Sq Ft: 4502.00
  • Lot Size Acres: 0.1034

Rental Info

  • Tenant Pays: None

Multi Family

  • Electric Expense: 4800.00
  • Gross Income: 199200.00
  • Gross Multiplier: 9.00
  • Gross Scheduled Income: 199200.00
  • Insurance Expense: 2900.00
  • Lot Size Area: 4502.0000 Square Feet
  • Net Operating Income: 167955.00
  • Number Of Separate Electric Meters: 6
  • Number Of Separate Gas Meters: 6
  • Number Of Separate Water Meters: 6
  • Number Of Units Total: 7
  • Number With Range: 7
  • Number With Refrigerator: 7
  • Operating Expense: 31245.00
  • Rent Control: No
  • Total Actual Rent: 16600.00
  • Total Expenses: 31245.00

Tax Info

  • New Taxes Expense: 19745.00
  • Tax Area: 11-933
  • Tax Block: 19
  • Tax Census Tract: 5764.01
  • Tax Lot: 7
  • Tax Tract Number: 000

Range of Values:

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Value Increase
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Percent Increase
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Adjusted for Inflation
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
12/22/2021 12/22/21 Sold $1,750,000 -2.5% $328 / Sq Ft
11/26/2021 11/26/21 For Sale $1,795,000 0.0% $336 / Sq Ft
08/25/2021 08/25/21 Pending -- -- --
08/17/2021 08/17/21 For Sale $1,795,000 -- $336 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $24,067 $1,857,113 $1,209,777 $647,336
2024 $24,067 $1,820,700 $1,186,056 $634,644
2023 $23,654 $1,785,000 $1,162,800 $622,200
2022 $22,204 $1,750,000 $1,140,000 $610,000
2021 $13,437 $1,018,103 $703,817 $314,286
2020 $13,401 $1,007,665 $696,601 $311,064
2019 $14,929 $987,908 $682,943 $304,965
2018 $12,890 $968,538 $669,552 $298,986
2016 $11,206 $875,000 $604,900 $270,100
2015 $8,837 $690,000 $477,000 $213,000
2014 $8,957 $690,000 $477,000 $213,000
Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PW21181773

California Regional Multiple Listing Service (CRMLS)