NOT LISTED FOR SALE
-- Beds
1 Bath
4,160 Sq Ft
4,655 Sq Ft Lot

Sale Details

Date Sold: September 17, 2019

Last sale price $2,100,000 $505 Per Sq Ft

76 Days on Market

Highlights

  • 0.11 Acre Lot
  • Long Beach Polytechnic High School Rated A
  • Laundry Facilities

About This Home

As of September 2019

1010 E 2nd Street is located in the prime Alamitos Beach area. This is a 1920's building with charming built-ins and finishes. It consists of eight bright and airy studio units with light upgrades to the kitchens, baths and fixtures. There is storage space for tenants to lease, onsite laundry income (laundry machines are seller owned), and the building is separately metered for gas and electric. Investors have the potential to continue seller improvements and increase rents up to approximately 10%. Within close proximity to the subject property are the Long Beach Museum of Art, Bixby Park, Broadway Corridor and 4th Street/Retro Row.

Last Agent to Sell the Property

Robert Stepp

Keller Williams Realty Downey License #01456379 Listed on: 06/04/2019

Keller Williams Realty Downey

Last Buyer's Agent

Joanne Stasio

Berkshire Hathaway HomeService License #01267010

Berkshire Hathaway HomeService
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Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1923

Lot Details

  • 4,655 Sq Ft Lot
  • Two or More Common Walls
  • Density is 6-10 Units/Acre

Home Design

  • 4,160 Sq Ft Home
  • Property Attached

Bedrooms and Bathrooms

  • 1 Bathroom

Listing and Financial Details

  • Tax Lot 2
  • Tax Tract Number 5766
  • Assessor Parcel Number 7265002003

Community Details

Overview

  • 2 Buildings
  • 8 Units

Amenities

  • Laundry Facilities

Building Details

  • 8 Separate Electric Meters
  • 8 Separate Gas Meters
  • 1 Separate Water Meter
  • Electric Expense $1,080
  • Fuel Expense $1,080
  • Gardener Expense $1,200
  • Insurance Expense $1,664
  • Maintenance Expense $3,600
  • Other Expense $1,800
  • Pest Control $500
  • Professional Management Expense $5,689
  • Trash Expense $1,080
  • Water Sewer Expense $1,080
  • New Taxes Expense $26,488
  • Operating Expense $45,761
  • Gross Income $142,215
  • Net Operating Income $96,454

Property Details

Home Type

Multi-Family

Year Built

Built in 1923

Lot Details

4,655 Sq Ft Lot

Listing Details

  • Professional Management Expense: 5689.00
  • Property Attached: Yes
  • Subdivision Name Other: Alamitos Beach (AB)
  • Water Sewer Expenses: 1080.00
  • Zoning: LBR4R
  • Property Type: Residential Income
  • Gardener Expense: 1200.00
  • Parcel Number: 7265002003
  • Year Built: 1923
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Common Walls: 2+ Common Walls
  • Price Per Square Foot: 504.81

Exterior Features

  • Pool Private: No

Utilities

  • Laundry: Yes
  • Laundry Features: Common Area
  • Pest Control Expense: 500.00
  • Sewer: Public Sewer
  • Trash Expense: 1080.00
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No
  • Community Features: Curbs

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: 6-10 Units/Acre
  • Lot Size Sq Ft: 4655.00
  • Lot Size Acres: 0.1069

Multi Family

  • Electric Expense: 1080.00
  • Fuel Expense: 1080.00
  • Gross Income: 142215.00
  • Gross Scheduled Income: 149700.00
  • Insurance Expense: 1664.00
  • Lot Size Area: 4655.0000 Square Feet
  • Maintenance Expense: 3600.00
  • Net Operating Income: 96454.00
  • Number Of Separate Electric Meters: 8
  • Number Of Separate Gas Meters: 8
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 8
  • Operating Expense: 45761.00
  • Other Expense: 1800.00
  • Other Expense Description: Reserves
  • Rent Control: No
  • Total Expenses: 45761.00

Tax Info

  • New Taxes Expense: 26488.00
  • Tax Lot: 2
  • Tax Tract Number: 5766

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

Listed on
Jun 4, 2019
Closed on
Jul 23, 2019
Sold by
Lujan Aaron R and Lujan Irma
Bought by
Seller's Agent
Robert Stepp
Keller Williams Realty Downey
Buyer's Agent
Joanne Stasio
Berkshire Hathaway HomeService
List Price
$2,100,000
Sold Price
$2,100,000

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,280,000
Interest Rate
3.7%
Mortgage Type
Construction

Purchase Details

Closed on
Jan 18, 2018
Sold by
Sarraf Farrokh
Bought by
Lujan Aaaron R and Lujan Irma

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$900,000
Interest Rate
3.93%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
Apr 24, 2013
Sold by
Sarraf Farrokh
Bought by
Sarraf Farrokh and Ansari Guity

Purchase Details

Closed on
Dec 26, 2012
Sold by
Jethwa Madhubala R
Bought by
Sarraf Farrokh and Ansari Guity

Purchase Details

Closed on
Jul 7, 2004
Sold by
Elite Win Corp
Bought by
Jethwa Rameshkumar G and Jethwa Madhubala R
Source: Public Records

Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Agents Specializing in Alamitos Beach, CA

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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
$2,100,000 Ticor Title Company
Lujan Aaaron R $1,575,000 Lawyers Title
Sarraf Farrokh -- None Available
Sarraf Farrokh $800,000 Fidelity National Title Co
Jethwa Rameshkumar G -- --
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
Previous Owner $1,280,000
Previous Owner Lujan Aaron R $1,000,000
Previous Owner Lujan Aaaron R $900,000
Previous Owner Jethwa Madhubala R $300,000
Previous Owner Jethwa Madhubala Rameshkumar $460,000
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
09/17/2019 09/17/19 Sold $2,100,000 0.0% $505 / Sq Ft
08/19/2019 08/19/19 Pending -- -- --
06/04/2019 06/04/19 For Sale $2,100,000 -- $505 / 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
2026 $30,640 $2,342,585 $1,561,724 $780,861
2025 $30,640 $2,296,652 $1,531,102 $765,550
2024 $29,346 $2,251,621 $1,501,081 $750,540
2023 $28,845 $2,207,473 $1,471,649 $735,824
2022 $27,065 $2,164,191 $1,442,794 $721,397
2021 $26,578 $2,121,756 $1,414,504 $707,252
2019 $20,675 $1,606,500 $943,500 $663,000
2018 $11,589 $865,805 $595,241 $270,564
2016 $10,667 $832,186 $572,128 $260,058
2015 $10,252 $819,687 $563,535 $256,152
2014 $10,213 $803,632 $552,497 $251,135
Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PW19129903

California Regional Multiple Listing Service (CRMLS)
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