NOT LISTED FOR SALE
2 Beds
2 Baths
5,740 Sq Ft
6,494 Sq Ft Lot

Last Sold February 21, 2022

Last sale price $2,625,000 $457 Per Sq Ft

162 Days on Market

Highlights

  • No HOA
  • Laundry Room
  • 3-minute walk to NAACP Freedom Park
  • Long Beach Polytechnic High School Rated A
  • 11 Car Garage

About This Home

As of February 2022

8 unit apartment building, built in 1987, site plan consists of an at grade parking structure with four units on the second floor and four units on the third floor. Eleven total onsite parking spaces plus two street parking spaces right in front of the building. Moat units have been updated within the last five years. Stable tenant mix. Upside potential in rents. Close to the freeway, dining, and amenities. Located adjacent to the Signal Hill area of Long Beach.

Last Agent to Sell the Property

Steven Jones

Olympia Capital Corporation License #01153594 Listed on: 06/23/2021

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1987

Lot Details

  • 6,494 Sq Ft Lot
  • Two or More Common Walls
  • Density is 6-10 Units/Acre

Parking

  • 11 Car Garage
  • Parking Available
  • Driveway
  • Community Parking Structure

Home Design

  • Property Attached

Interior Spaces

  • 5,740 Sq Ft Home
  • 3-Story Property
  • Laundry Room

Bedrooms and Bathrooms

  • 2 Bedrooms
  • 2 Bathrooms

Outdoor Features

  • Exterior Lighting
  • Rain Gutters

Additional Features

  • Suburban Location
  • Sewer Paid

Listing and Financial Details

  • Tenant pays for electricity, gas
  • Legal Lot and Block 10 / 1
  • Assessor Parcel Number 7210024006

Community Details

Overview

  • No Home Owners Association
  • 8 Units
  • Signal Hill Subdivision

Amenities

  • Laundry Facilities

Building Details

  • 8 Leased Units
  • 8 Separate Electric Meters
  • 8 Separate Gas Meters
  • Insurance Expense $3,206
  • Professional Management Expense $4
  • Trash Expense $1,384
  • Water Sewer Expense $13,643
  • Operating Expense $54,821
  • Gross Income $2,400
  • Net Operating Income $112,470

Property Details

Home Type

Multi-Family

Year Built

Built in 1987

Lot Details

0

Parking

11

Listing Details

  • CapRate: 4.20
  • Professional Management Expense: 4.00
  • Property Attached: Yes
  • Subdivision Name Other: Signal Hill (SH)
  • Water Sewer Expenses: 13643.00
  • Zoning: LBR2N
  • Property Type: Residential Income
  • Parcel Number: 7210024006
  • Year Built: 1987
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Stories: 3
  • Common Walls: 2+ Common Walls
  • Levels: Three Or More
  • Price Per Square Foot: 457.32

Exterior Features

  • Pool Private: No

Garage/Parking

  • Garage Spaces: 11.00
  • Parking: Yes
  • Parking Features: Covered, Driveway, Concrete, Garage, Structure
  • Total Parking Spaces: 11.00

Utilities

  • Laundry: Yes
  • Laundry Features: Community
  • Sewer: Public Sewer, Sewer Paid
  • Trash Expense: 1384.00
  • Water Source: Public

Condo/Co-op/Association

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

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: 6-10 Units/Acre
  • Lot Size Sq Ft: 6494.00
  • Lot Size Acres: 0.1491
  • Latitude Manual: 33.79698800

Rental Info

  • Garage Rental Rate: 100.00
  • Tenant Pays: Electricity, Gas

Multi Family

  • Garage Income: 2400.00
  • Gross Income: 2400.00
  • Gross Multiplier: 16.74
  • Gross Operating Income: 167400.00
  • Gross Scheduled Income: 167291.00
  • Insurance Expense: 3206.00
  • Laundry Equipment Own Lease: Own
  • Laundry Income: 1620.00
  • Lot Size Area: 6494.0000 Square Feet
  • Net Operating Income: 112470.00
  • Number Of Rented Garages: 1
  • Number Of Separate Electric Meters: 8
  • Number Of Separate Gas Meters: 8
  • Number Of Units Leased: 8
  • Number Of Units Total: 8
  • Number With Disposal: 8
  • Number With Patio: 8
  • Number With Range: 8
  • Operating Expense: 54821.00
  • Rent Control: No
  • Total Actual Rent: 163200.00
  • Total Expenses: 54821.00

Tax Info

  • Tax Block: 1
  • Tax Census Tract: 5733.00
  • Tax Lot: 10

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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List Price
Sold Price
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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 Prior Sale
02/21/2022 02/21/22 Sold $2,625,000 -1.8% $457 / Sq Ft
12/02/2021 12/02/21 Pending -- -- --
07/29/2021 07/29/21 Price Changed $2,674,000 -4.5% $466 / Sq Ft
06/23/2021 06/23/21 For Sale $2,800,000 0.0% $488 / Sq Ft
11/29/2019 11/29/19 Rented $1,595 -3.0% --
11/18/2019 11/18/19 For Rent $1,645 -8.4% --
04/11/2018 04/11/18 Rented $1,795 0.0% --
03/20/2018 03/20/18 For Rent $1,795 0.0% --
03/06/2018 03/06/18 Sold $2,100,000 0.0% $366 / Sq Ft View Prior Sale
02/01/2018 02/01/18 Pending -- -- --
01/05/2018 01/05/18 For Sale $2,100,000 0.0% $366 / Sq Ft
01/05/2018 01/05/18 Off Market $2,100,000 -- --
11/08/2017 11/08/17 For Sale $2,275,000 -- $396 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PW21137003

California Regional Multiple Listing Service (CRMLS)