Andrew York
Responds Quickly
Pinnacle Estate Properties
(818) 647-9268
3 Total Sales
2 in Willmore
$439,000 Price Range
1030 Magnolia Ave Long Beach, CA 90813
Willmore Neighborhood
5
Beds
5
Baths
5,064
Sq Ft
7,875
Sq Ft Lot
About This Home
As of August 2017Built in 1923, the subject property is a Spanish-style apartment complex comprised of Ten bungalow style One Bedroom / One Bath units averaging 507 square feet each. Current ownership completely renovated all Ten units periodically over the past two years with the intent on holding this asset. The most recent unit was recently rented for $1,295, which is $200 more than the lowest in-place rents of $1,095.
True value-add investment opportunity with all the renovation work already completed, making it easy for a new owner to simply raise the remaining rents to market, as Long Beach is NOT subject to rent control. The property is separately metered for gas & electricity and has an on-site laundry facility not currently being utilized due to an expired lease contract with CSC. A new owner could install owned laundry and implement a tenant utility reimbursement program for an additional income boost.
Last Agent to Sell the Property
eXp Realty of Greater L.A License #01946829 Listed on: 06/12/2017
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Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $24,396
Year Built
- Built in 1923
Lot Details
- 7,875 Sq Ft Lot
- No Common Walls
Home Design
- 5,064 Sq Ft Home
Bedrooms and Bathrooms
- 5 Bedrooms
- 5 Bathrooms
Outdoor Features
- Exterior Lighting
- Rain Gutters
Additional Features
- Leased Washer and Dryer
- Urban Location
Listing and Financial Details
- Tenant pays for electricity, gas
- Tax Lot 4
- Tax Tract Number 5758
- Assessor Parcel Number 7272007022
Community Details
Building Details
- 11 Separate Electric Meters
- 11 Separate Gas Meters
- 1 Separate Water Meter
- Electric Expense $600
- Gardener Expense $600
- Insurance Expense $2,500
- Maintenance Expense $5,312
- Pest Control $600
- Water Sewer Expense $3,500
- New Taxes Expense $24,396
- Operating Expense $41,108
- Gross Income $136,920
- Net Operating Income $91,704
Additional Features
- 10 Units
- Laundry Facilities
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 12, 2017
Closed on
Jun 23, 2017
Sold by
Bought by
Seller's Agent
Andrew McAllister
eXp Realty of Greater L.A
Buyer's Agent
Jon Swire
The Agency
List Price
$1,995,000
Sold Price
$2,022,000
Premium/Discount to List
$27,000
1.35%
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,350,000
Interest Rate
4.03%
Mortgage Type
Commercial
Purchase Details
Closed on
Dec 8, 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
$731,250
Interest Rate
3.95%
Mortgage Type
Commercial
Purchase Details
Closed on
Nov 18, 2012
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
$600,000
Interest Rate
3.54%
Mortgage Type
Commercial
Purchase Details
Closed on
Oct 21, 2003
Sold by
Bought by
Purchase Details
Closed on
Jul 24, 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
$350,000
Interest Rate
5.17%
Mortgage Type
Commercial
Purchase Details
Closed on
Jun 13, 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
$350,000
Interest Rate
5.17%
Mortgage Type
Commercial
Purchase Details
Closed on
Jul 23, 2002
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
$60,000
Interest Rate
6.6%
Mortgage Type
Seller Take Back
Purchase Details
Closed on
Apr 30, 2001
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
$241,500
Interest Rate
7.75%
Mortgage Type
Commercial
Home Values in the Area
Average Home Value in this Area
Agents Specializing in Willmore, CA
-
Andrew York
-
Dennis Fulmore
Dennis Fulmore
Dennis Wayne Group
(424) 688-7260
20 Total Sales
1 in Willmore
$345,000 Price
-
Leslie Stonick
Leslie Stonick
Compass
(424) 381-0410
72 Total Sales
1 in Willmore
$785,000 Price
-
Marcus Ibrahim
Marcus Ibrahim
eXp Realty of Greater Los Angeles
(781) 476-7479
90 Total Sales
2 in Willmore
$374K - $640K Price Range
-
Ramon Sanchez
Ramon Sanchez
Century 21 Allstars
(562) 684-6070
171 Total Sales
2 in Willmore
$445,000 Price Range
-
Jason Lowery
Jason Lowery
Compass
(747) 229-0866
88 Total Sales
1 in Willmore
$525,000 Price
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 |
|---|---|---|---|
| $2,022,000 | Fidelity National Title Co | ||
| $975,000 | Ticor Title Company | ||
| $800,000 | North American Title Company | ||
| -- | -- | ||
| -- | -- | ||
| $750,000 | -- | ||
| -- | -- | ||
| $322,000 | First American Title Co |
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 | $1,687,500 | ||
| Previous Owner | $1,350,000 | ||
| Previous Owner | $1,072,500 | ||
| Previous Owner | $731,250 | ||
| Previous Owner | $600,000 | ||
| Previous Owner | $483,000 | ||
| Previous Owner | $520,000 | ||
| Previous Owner | $350,000 | ||
| Previous Owner | $562,500 | ||
| Previous Owner | $60,000 | ||
| Previous Owner | $241,500 |
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 |
|---|---|---|---|---|
| 08/17/2017 08/17/17 | Sold | $2,022,000 | +1.4% | $399 / Sq Ft |
| 06/12/2017 06/12/17 | For Sale | $1,995,000 | -- | $394 / 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 | $31,129 | $2,300,686 | $1,610,027 | $690,659 |
| 2024 | $29,807 | $2,255,575 | $1,578,458 | $677,117 |
| 2023 | $29,294 | $2,211,349 | $1,547,508 | $663,841 |
| 2022 | $27,499 | $2,167,990 | $1,517,165 | $650,825 |
| 2021 | $26,943 | $2,125,481 | $1,487,417 | $638,064 |
| 2020 | $26,874 | $2,104,237 | $1,472,166 | $632,071 |
| 2019 | $26,557 | $2,062,989 | $1,443,300 | $619,689 |
| 2018 | $25,844 | $2,022,549 | $1,415,000 | $607,549 |
| 2016 | $12,767 | $989,868 | $690,370 | $299,498 |
| 2015 | $12,272 | $975,000 | $680,000 | $295,000 |
| 2014 | $10,498 | $803,631 | $562,542 | $241,089 |
Source: Public Records
Agents Affiliated with this Home
-
Andrew McAllister
A
Seller's Agent in 2017
Andrew McAllister
eXp Realty of Greater L.A
(562) 423-8134
1 in this area
14 Total Sales
-
Jon Swire
Buyer's Agent in 2017
Jon Swire
The Agency
(310) 948-2631
3 in this area
37 Total Sales
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: RS17130123
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
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