A
Seller's Agent in 2018
Andrew McAllister
eXp Realty of Greater L.A
(562) 423-8134
1 in this area
17 Total Sales
1027 Chestnut Ave Long Beach, CA 90813
Willmore Neighborhood
3
Beds
9
Baths
3,138
Sq Ft
6,970
Sq Ft Lot
Highlights
- 9,827 Sq Ft lot
- Paved or Partially Paved Lot
- 1-Story Property
- Property is near public transit
About This Home
As of September 2018Incredible value add opportunity in the heart of Downtown Long Beach's "Drake Park" neighborhood. Roughly 25% upside in monthly income and a 6.68% cap rate at market rents. Three Buildings: (1) 3 Bed / 2 bath detached house, (5) - Studios and (2) - Studios above a 3 car garage. Unit 1027 was just remodeled with two-tone paint, vinyl plank floors, granite counters & updated fixtures and will be rented for $1095. Some units are modestly updated including new kitchen & bathroom tiling, refinished original hardwood flooring and crown molding in the detached house, new gas ranges and two-tone interior paint.
Last Agent to Sell the Property
eXp Realty of Greater L.A License #01946829 Listed on: 04/23/2018
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $18,005
Year Built
- Built in 1923
Lot Details
- 9,827 Sq Ft Lot
- No Common Walls
- Paved or Partially Paved Lot
- Level Lot
Parking
- 3 Car Garage
Interior Spaces
- 3,138 Sq Ft Home
- 1-Story Property
- Washer Hookup
Bedrooms and Bathrooms
- 3 Bedrooms
- 9 Bathrooms
Outdoor Features
- Exterior Lighting
- Rain Gutters
Location
- Property is near public transit
- Urban Location
Listing and Financial Details
- Tenant pays for electricity, grounds care
- Legal Lot and Block 4 / 9
- Tax Tract Number 5758
- Assessor Parcel Number 7272007008
Community Details
Overview
- 3 Buildings
- 8 Units
Building Details
- 8 Leased Units
- 11 Separate Electric Meters
- 11 Separate Gas Meters
- 1 Separate Water Meter
- Electric Expense $20
- Fuel Expense $742
- Gardener Expense $780
- Insurance Expense $2,362
- Maintenance Expense $6,500
- Other Expense $780
- Pest Control $960
- Supplies Expense $910
- Trash Expense $456
- Water Sewer Expense $1,381
- New Taxes Expense $18,005
- Operating Expense $32,117
- Gross Income $102,660
- Net Operating Income $66,823
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area
Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft | Prior Sale |
|---|---|---|---|---|---|
| 09/11/2018 09/11/18 | Sold | $1,240,000 | -10.7% | $395 / Sq Ft | |
| 04/23/2018 04/23/18 | For Sale | $1,388,000 | +85.1% | $442 / Sq Ft | |
| 04/23/2014 04/23/14 | Sold | $750,000 | -11.2% | $239 / Sq Ft | View Prior Sale |
| 01/13/2014 01/13/14 | Pending | -- | -- | -- | |
| 05/16/2013 05/16/13 | For Sale | $845,000 | +43.2% | $269 / Sq Ft | |
| 12/15/2012 12/15/12 | Sold | $590,000 | -15.1% | $124 / Sq Ft | View Prior Sale |
| 12/01/2012 12/01/12 | Pending | -- | -- | -- | |
| 12/16/2011 12/16/11 | For Sale | $695,000 | -- | $146 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
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 | $18,951 | $1,422,282 | $992,809 | $429,473 |
| 2024 | $18,951 | $1,394,395 | $973,343 | $421,052 |
| 2023 | $18,613 | $1,367,055 | $954,258 | $412,797 |
| 2022 | $17,262 | $1,340,251 | $935,548 | $404,703 |
| 2021 | $16,908 | $1,313,972 | $917,204 | $396,768 |
| 2020 | $16,865 | $1,301,060 | $907,800 | $393,260 |
| 2019 | $16,666 | $1,275,560 | $890,000 | $385,560 |
| 2018 | $10,858 | $808,584 | $565,618 | $242,966 |
| 2017 | $10,741 | $792,181 | $554,528 | $237,653 |
| 2016 | $10,007 | $776,649 | $543,655 | $232,994 |
| 2015 | $9,619 | $764,984 | $535,489 | $229,495 |
| 2014 | $7,797 | $592,678 | $411,861 | $180,817 |
Source: Public Records
Agents Affiliated with this Home
-
Andrew McAllister
-
Drew McAllister
Buyer's Agent in 2018
Drew McAllister
Nationwide Real Estate Execs
(562) 528-8105
1 in this area
14 Total Sales
-
Steve Gamez
Seller's Agent in 2014
Steve Gamez
P.R.S. Properties
(714) 328-0832
4 Total Sales
-
Marty Stone
Buyer's Agent in 2014
Marty Stone
BUCKINGHAM INVESTMENTS
(310) 322-9763
6 Total Sales
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: RS18093079
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.
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
Nearby Homes
- 435 W 11th St
- 508 W 10th St
- 1044 Cedar Ave
- 1146 Daisy Ave
- 1238 Magnolia Ave
- 225 W 12th St
- 1140 Pacific Ave Unit 19
- 1140 Pacific Ave Unit 20
- 328 W 8th St
- 1029 Maine Ave
- 1119 N Loma Vista Dr
- 1070 N Loma Vista Dr
- 828 Maine Ave
- 728 Cedar Ave Unit 29
- 702 Cedar Ave
- 1025 Locust Ave
- 838 Pine Ave Unit 102
- 838 Pine Ave Unit 506
- 645 Chestnut Ave Unit 316
- 1415 Cedar Ave
- 1025 Chestnut Ave
- 1021 Chestnut Ave
- 1033 Chestnut Ave
- 1043 Chestnut Ave
- 1017 Chestnut Ave
- 1016 N Virginia Ct
- 1040 N Virginia Ct
- 1047 Chestnut Ave
- 1009 Chestnut Ave
- 1019 N Virginia Ct
- 415 W 10th St
- 428 W 11th St
- 422 W 11th St
- 1033 N Virginia Ct Unit 1041
- 1033 N Virginia Ct
- 1053 Chestnut Ave
- 425 W 10th St
- 407 W 10th St
- 1035 N Virginia Ct Unit 1035
- 1045 N Virginia Ct
Your Personal Tour Guide
Ask me questions while you tour the home.