NOT LISTED FOR SALE
1 Bed
2 Baths
15,714 Sq Ft
0.35 Acre Lot

Sale Details

Date Sold: April 22, 2017

Last sale price $3,060,000 $195 Per Sq Ft

11 Days on Market

Highlights

  • 0.35 Acre Lot
  • No HOA
  • Wall Furnace
  • Long Beach Polytechnic High School Rated A
  • Paved or Partially Paved Lot
  • 2-minute walk to Craftsman Village Park

About This Home

As of April 2017

The Orange Avenue Apartments is a 24 unit mixed-used apartment community located in the East Village Arts District sub-market of Long Beach within Los Angeles County. The property consists of 11 studio units, 8 one bedroom units and 5 retail units. Property is located in a strong non-rent controlled market. 3 year leases in place on all retail with rent bumps.

Long Beach is the 36th-largest city in the nation and the seventh-largest in California. As of 2010, its population was 462,267. In addition, Long Beach is the second largest city within Greater Los Angeles Area, after Los Angeles, and a principal city of the Los Angeles-Long Beach-Santa Ana metropolitan area.The university is the largest of the California State University system. Its nearly 40,000 students make it the second largest university in the state of California in regards to enrollment. The port is the 2nd busiest seaport in the United States boasting $100 billion in trade and providing more than 316,000 jobs.

Last Agent to Sell the Property

Matt Pernice

eXp Realty of California Inc License #01879552 Listed on: 01/27/2017

eXp Realty of California Inc

Last Buyer's Agent

Cody Charnell

Sage Real Estate Group, Inc. License #01950585

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Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1930

Lot Details

  • 15,114 Sq Ft Lot
  • Two or More Common Walls
  • Paved or Partially Paved Lot
  • 7267-006-036, 7267-006-028

Parking

  • 21 Car Garage

Home Design

  • 15,714 Sq Ft Home
  • Property Attached

Bedrooms and Bathrooms

  • 1 Bedroom
  • 2 Bathrooms

Utilities

  • Wall Furnace

Listing and Financial Details

  • Tax Lot 4
  • Tax Tract Number 5764
  • Assessor Parcel Number 7267006029

Community Details

Overview

  • No Home Owners Association
  • 24 Units
  • Downtown Subdivision

Building Details

  • Electric Expense $4,200
  • Insurance Expense $2,500
  • Pest Control $1,025
  • Professional Management Expense $15,200
  • New Taxes Expense $35,940
  • Operating Expense $127,276
  • Gross Income $304,848
  • Net Operating Income $177,572

Property Details

Home Type

Multi-Family

Year Built

Built in 1930

Lot Details

0.35 Acres

Parking

21

Listing Details

  • Professional Management Expense: 15200.00
  • Property Attached: Yes
  • Subdivision Name Other: Downtown (DT)
  • Zoning: LBCNR
  • Property Type: Residential Income
  • Parcel Number: 7267006029
  • Year Built: 1930
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Fireplace: No
  • Common Walls: 2+ Common Walls
  • Levels: Three Or More
  • Price Per Square Foot: 194.73

Exterior Features

  • Pool Private: No

Garage/Parking

  • Garage Spaces: 21.00
  • Total Parking Spaces: 21.00

Utilities

  • Heating: Yes
  • Heating Type: Wall Furnace
  • Pest Control Expense: 1025.00
  • Sewer: Public Sewer
  • Water Source: Public

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Community Features: Curbs

Lot Info

  • Additional Parcels: Yes
  • Additional Parcels Description: 7267-006-036, 7267-006-028
  • Land Lease: No
  • Lot Features: Paved
  • Lot Size Sq Ft: 15114.00
  • Lot Size Acres: 0.3470

Multi Family

  • Average1 Bed Area: 550 Square Feet
  • Average Studio Area: 395 Square Feet
  • Electric Expense: 4200.00
  • Gross Income: 304848.00
  • Gross Scheduled Income: 304848.00
  • Insurance Expense: 2500.00
  • Lot Size Area: 15114.0000 Square Feet
  • Net Operating Income: 177572.00
  • Number Of Units Total: 24
  • Operating Expense: 127276.00
  • Rent Control: No
  • Total Expenses: 127276.00

Tax Info

  • New Taxes Expense: 35940.00
  • Tax Census Tract: 5764.01
  • Tax Lot: 4
  • Tax Tract Number: 5764

Ownership History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Name Owned For Owner Type

Purchase Details

Closed on
Feb 6, 2017
Sold by
Bought by

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$2,068,000
Interest Rate
4.21%
Mortgage Type
Commercial

Purchase Details

Closed on
Dec 22, 2014
Sold by
Bought by

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,850,000
Interest Rate
3.96%
Mortgage Type
Commercial

Purchase Details

Closed on
Apr 19, 2007
Sold by
Bought by

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,700,000
Interest Rate
6.14%
Mortgage Type
Commercial

Purchase Details

Closed on
Jun 3, 2005
Sold by
Bought by

Purchase Details

Closed on
Jun 9, 2004
Sold by
Bought by

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$665,000
Interest Rate
5.8%
Mortgage Type
Commercial

Purchase Details

Closed on
Feb 17, 2003
Sold by
Bought by

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$351,000
Interest Rate
5.79%
Mortgage Type
Commercial

Purchase Details

Closed on
Feb 25, 2000
Sold by
Bought by

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$201,500
Interest Rate
8.26%
Mortgage Type
Commercial

Purchase Details

Closed on
Oct 25, 1994
Sold by
Bought by

Purchase Details

Closed on
Jun 3, 1994
Sold by
Bought by
Source: Public Records

Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

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Purchase History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Buyer Sale Price Title Company
$3,060,000 Usa National Title
$2,525,000 Ticor Title
-- North American Title 91402
-- --
$950,000 Chicago Title Company
-- First American Title Ins Co
$310,000 First American Title Co
-- First American Title Company
$300,000 First American Title Company
$321,811 First Southwestern Title
Source: Public Records

Mortgage History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Status Borrower Loan Amount
Open $3,045,000
Previous Owner $2,068,000
Previous Owner $1,850,000
Previous Owner $1,700,000
Previous Owner $665,000
Previous Owner $351,000
Previous Owner $201,500
Source: Public Records

Property History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Event Price List to Sale Price per Sq Ft
04/22/2017 04/22/17 Sold $3,060,000 +2.2% $195 / Sq Ft
02/07/2017 02/07/17 Pending -- -- --
01/27/2017 01/27/17 For Sale $2,995,000 -- $191 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

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 $27,806 $1,855,770 $377,187 $1,478,583
2024 $26,535 $1,819,384 $369,792 $1,449,592
2023 $26,027 $1,783,711 $362,542 $1,421,169
2022 $24,477 $1,748,737 $355,434 $1,393,303
2021 $23,886 $1,714,449 $348,465 $1,365,984
2019 $23,538 $1,665,099 $338,130 $1,326,969
2018 $22,963 $1,632,480 $331,500 $1,300,980
2016 $18,521 $1,340,129 $274,117 $1,066,012
2015 $17,829 $1,320,000 $270,000 $1,050,000
2014 $15,253 $1,080,231 $170,560 $909,671
Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: SB17006239

California Regional Multiple Listing Service (CRMLS)

APN: 7267-006-029

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