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

Sale Details

Date Sold: February 21, 2022

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

162 Days on Market

Highlights

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

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

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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

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

6,494 Sq Ft Lot

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

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 23, 2021
Closed on
Jan 6, 2022
Sold by
Bought by
Seller's Agent
Steven Jones
Olympia Capital Corporation
List Price
$2,800,000
Sold Price
$2,625,000
Premium/Discount to List
-$175,000
-6.25%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,550,000
Outstanding Balance
$1,408,640
Interest Rate
3.55%
Mortgage Type
New Conventional

Purchase Details

Listed on
Nov 8, 2017
Closed on
Jan 26, 2018
Sold by
Bought by
Seller's Agent
Jack Levis
CBRE Inc.
Buyer's Agent
Mehdi Khosh
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.
Avg. Annual Appreciation
5.78%
Original Mortgage
$1,142,000
Interest Rate
4.22%
Mortgage Type
Construction

Purchase Details

Closed on
Dec 22, 1993
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
$2,625,000 Ticor Title
$2,100,000 First American Title Insuran
-- --
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 $1,550,000
Previous Owner $1,142,000
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 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

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 $37,036 $2,785,671 $1,724,463 $1,061,208
2024 $35,452 $2,731,050 $1,690,650 $1,040,400
2023 $34,853 $2,677,500 $1,657,500 $1,020,000
2022 $28,262 $2,251,622 $536,100 $1,715,522
2021 $27,694 $2,207,474 $525,589 $1,681,885
2019 $27,298 $2,142,000 $510,000 $1,632,000
2018 $11,194 $824,289 $166,532 $657,757
2016 $10,289 $792,282 $160,066 $632,216
2015 $9,893 $780,382 $157,662 $622,720
2014 $9,858 $765,096 $154,574 $610,522
Source: Public Records

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PW21137003

California Regional Multiple Listing Service (CRMLS)
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