NOT LISTED FOR SALE

1000 Redondo Ave Long Beach, CA 90804

Recreation Park Neighborhood
2 Beds
8 Baths
9,580 Sq Ft
6,263 Sq Ft Lot

Last Sold December 21, 2017

Last sale price $2,900,000 $303 Per Sq Ft

38 Days on Market

Highlights

  • Ocean Side of Highway 1
  • Property is near public transit
  • Corner Lot
  • Woodrow Wilson High School Rated A
  • Spanish Architecture
  • No HOA

About This Home

As of December 2017

Trust sale of a Classic Spanish 20 units in prime Eastside Long Beach location at the corner of 10th St. and Redondo Ave. There are six-1 bedroom units and 14 studio apartments. This is the first time on the market in over 40 years. Rents are drastically below market. The building is a two-story open courtyard style building with a laundry room and no garages. The building is master metered for gas & electricity so all utilities are paid by the Owner. It has a huge storage room that was once a garage decades ago. The building has been adequately maintained but in need of unit upgrades such as kitchens & baths. Most units have hardwood flooring & carpeting. Great location for schools, LB State, shopping and public transportation. An ideal upleg for investors as well! Some expenses shown are actual (utilities) and others are estimates only.

Last Agent to Sell the Property

John Gooding

Vista Sotheby's Int'l Realty License #00479227 Listed on: 08/20/2017

Vista Sotheby's Int'l Realty

Last Buyer's Agent

Robert Stepp

Keller Williams Realty Downey License #01456379

Keller Williams Realty Downey

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1929

Lot Details

  • 6,263 Sq Ft Lot
  • Two or More Common Walls
  • West Facing Home
  • Wrought Iron Fence
  • Corner Lot
  • Level Lot

Home Design

  • Spanish Architecture
  • Property Attached
  • Cosmetic Repairs Needed
  • Flat Roof Shape
  • Spanish Tile Roof
  • Stucco

Interior Spaces

  • 9,580 Sq Ft Home
  • 2-Story Property
  • Courtyard Views
  • Gas Cooktop
  • Laundry Room

Bedrooms and Bathrooms

  • 2 Bedrooms
  • 8 Bathrooms

Home Security

  • Carbon Monoxide Detectors
  • Fire and Smoke Detector

Outdoor Features

  • Ocean Side of Highway 1
  • Exterior Lighting
  • Outdoor Storage
  • Rain Gutters

Location

  • Property is near public transit

Utilities

  • Wall Furnace
  • Natural Gas Connected
  • Sewer Paid

Listing and Financial Details

  • Tax Lot 23
  • Tax Tract Number 1
  • Assessor Parcel Number 7258007016

Community Details

Overview

  • No Home Owners Association
  • 20 Units

Amenities

  • Laundry Facilities

Building Details

  • 1 Separate Electric Meter
  • 1 Separate Gas Meter
  • 1 Separate Water Meter
  • Electric Expense $17,040
  • Insurance Expense $2,700
  • Maintenance Expense $8,910
  • Pest Control $1,200
  • Professional Management Expense $8,340
  • New Taxes Expense $33,540
  • Operating Expense $72,230
  • Gross Income $173,300
  • Net Operating Income $101,070

Property Details

Home Type

Multi-Family

Year Built

Built in 1929

Lot Details

0

Listing Details

  • Assessments: No
  • CapRate: 3.60
  • Price Per Unit: 139750
  • Professional Management Expense: 8340.00
  • Property Attached: Yes
  • Security: Carbon Monoxide Detector(s), Smoke Detector(s)
  • Subdivision Name Other: Eastside (ES)
  • View: Yes
  • Zoning: LBCNR
  • Architectural Style: Spanish
  • Property Condition: Repairs Cosmetic
  • Property Sub Type: Commercial/Residential
  • Property Type: Residential Income
  • Parcel Number: 7258007016
  • Year Built: 1929
  • Special Features: None

Interior Features

  • Stories: 2
  • Common Walls: 2+ Common Walls
  • Appliances: Yes
  • Levels: Two
  • Price Per Square Foot: 302.71

Exterior Features

  • Direction Faces: West
  • Other Structures: Storage
  • View: Courtyard
  • Fence: Yes
  • Fencing: Wrought Iron
  • Pool Private: No
  • Roof: Flat, Spanish Tile
  • Construction Materials: Stucco

Garage/Parking

  • Parking: No

Utilities

  • Utilities: Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
  • Heating: Yes
  • Laundry: Yes
  • Appliances: Gas Cooktop, Refrigerator
  • Heating Type: Wall Furnace
  • Laundry Features: Community, Individual Room
  • Pest Control Expense: 1200.00
  • Sewer: Sewer Paid
  • Water Source: Public

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Community Features: Curbs, Gutters, Sidewalks, Storm Drains, Street Lights

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: Corner Lot, Level with Street, Near Public Transit
  • Lot Size Sq Ft: 6263.00

Rental Info

  • Tenant Pays: None

Multi Family

  • Electric Expense: 17040.00
  • Gross Operating Income: 173300.00
  • Gross Scheduled Income: 178200.00
  • Insurance Expense: 2700.00
  • Laundry Equipment Own Lease: Own
  • Laundry Income: 100.00
  • Maintenance Expense: 8910.00
  • Net Operating Income: 101070.00
  • Number Of Separate Electric Meters: 1
  • Number Of Separate Gas Meters: 1
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 20
  • Operating Expense: 72230.00
  • Operating Expense Percent: 40.00
  • Rent Control: No
  • Total Actual Rent: 14850.00
  • Total Expenses: 72230.00
  • Vacancy Allowance: 4900
  • Vacancy Allowance Rate: 3.00
  • Waterfront Features: Ocean Side of Freeway, Ocean Side Of Highway 1

Tax Info

  • New Taxes Expense: 33540.00
  • Tax Census Tract: 5770.00
  • Tax Lot: 23
  • Tax Tract Number: 00001

Range of Values:

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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 Change Sq Ft Price
12/21/2017 12/21/17 Sold $2,900,000 +3.8% $303 / Sq Ft
09/27/2017 09/27/17 Pending -- -- --
08/20/2017 08/20/17 For Sale $2,795,000 -- $292 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • John Gooding

    Seller's Agent in 2017

    John Gooding

    Vista Sotheby's Int'l Realty

    (562) 756-6500

    1 in this area

    33 Total Sales

    John Gooding
    Section Image
  • Robert Stepp

    Buyer's Agent in 2017

    Robert Stepp

    Keller Williams Realty Downey

    (310) 463-2916

    5 in this area

    72 Total Sales

    Robert Stepp
    Section Image
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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PW17190953

California Regional Multiple Listing Service (CRMLS)
California Los Angeles County Long Beach 90804 Recreation Park

1000 Redondo Ave, Long Beach, CA

This home is located at 1000 Redondo Ave, Long Beach, CA 90804 since 20 August 2017. This property was built in 1929. 1000 Redondo Ave is a home located in Los Angeles County with nearby schools including Willard Elementary School, Woodrow Wilson High School, and Maple Village Waldorf School.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

California Regional Multiple Listing Service (CRMLS) The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.

Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information

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