NOT LISTED FOR SALE
7 Beds
3 Baths
4,093 Sq Ft
7,499 Sq Ft Lot

Last Sold June 10, 2021

Last sale price $1,620,000 $396 Per Sq Ft

87 Days on Market

About This Home

As of June 2021

1035 Orange Avenue is a six-unit apartment building in the heart of Long Beach. The property features a desirable mix of two and three bedroom units that are bright and spacious. The building also offers four parking spaces and is separately metered for gas and electric. There is approximately 21.4% rental upside potential and the ability to achieve extra upside with parking space income. With billions of dollars in privately and publicly-funded development taking place, Long Beach is in the midst of a full-scale transformation into a premier metropolitan city, attracting an influx of new businesses, high-quality jobs and an educated, professional demographic of residents.

Last Agent to Sell the Property

Robert Stepp

Keller Williams Realty Downey License #01456379 Listed on: 02/16/2021

Keller Williams Realty Downey

Last Buyer's Agent

John Alden

Alden Pacific Investments, Inc. License #02114291

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1923

Lot Details

  • 7,499 Sq Ft Lot
  • Two or More Common Walls
  • Density is 6-10 Units/Acre

Home Design

  • Apartment

Interior Spaces

  • 4,093 Sq Ft Home
  • 2-Story Property

Bedrooms and Bathrooms

  • 7 Bedrooms
  • 3 Bathrooms

Parking

  • 4 Open Parking Spaces
  • 4 Parking Spaces

Location

  • Urban Location

Listing and Financial Details

  • Legal Lot and Block 16 / B
  • Tax Tract Number 5764
  • Assessor Parcel Number 7267006018

Community Details

Overview

  • 2 Buildings
  • 6 Units
  • Alamitos Beach Subdivision

Building Details

  • Rent Control
  • 6 Separate Electric Meters
  • 6 Separate Gas Meters
  • 1 Separate Water Meter
  • Electric Expense $1,125
  • Fuel Expense $1,125
  • Insurance Expense $2,047
  • Maintenance Expense $3,300
  • Other Expense $1,200
  • Pest Control $500
  • Professional Management Expense $5,791
  • Trash Expense $1,125
  • Water Sewer Expense $1,125
  • New Taxes Expense $20,807
  • Operating Expense $38,844
  • Gross Income $115,813
  • Net Operating Income $76,969

Property Details

Home Type

Multi-Family

Year Built

Built in 1923

Lot Details

0

Listing Details

  • Professional Management Expense: 5791.00
  • Property Attached: Yes
  • Subdivision Name Other: Alamitos Beach (AB)
  • Water Sewer Expenses: 1125.00
  • Zoning: LBR2N
  • Property Type: Residential Income
  • Parcel Number: 7267006018
  • Year Built: 1923
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Stories: 2
  • Common Walls: 2+ Common Walls
  • Levels: Two
  • Price Per Square Foot: 395.80

Exterior Features

  • Pool Private: No

Garage/Parking

  • Total Parking Spaces: 4.00
  • Uncovered Spaces: 4.00

Utilities

  • Laundry: No
  • Pest Control Expense: 500.00
  • Sewer: Public Sewer
  • Trash Expense: 1125.00
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No
  • Common Interest: Community Apartment
  • Community Features: Urban

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: 6-10 Units/Acre
  • Lot Size Sq Ft: 7499.00
  • Lot Size Acres: 0.1722

Multi Family

  • Electric Expense: 1125.00
  • Fuel Expense: 1125.00
  • Gross Income: 115813.00
  • Gross Scheduled Income: 121908.00
  • Insurance Expense: 2047.00
  • Lot Size Area: 7499.0000 Square Feet
  • Maintenance Expense: 3300.00
  • Net Operating Income: 76969.00
  • Number Of Separate Electric Meters: 6
  • Number Of Separate Gas Meters: 6
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 6
  • Operating Expense: 38844.00
  • Other Expense: 1200.00
  • Other Expense Description: Reserves
  • Rent Control: Yes
  • Total Expenses: 38844.00

Tax Info

  • New Taxes Expense: 20807.00
  • Tax Block: B
  • Tax Census Tract: 5764.01
  • Tax Lot: 16
  • Tax Tract Number: 5764

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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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
06/10/2021 06/10/21 Sold $1,620,000 -3.3% $396 / Sq Ft
05/14/2021 05/14/21 Pending -- -- --
02/16/2021 02/16/21 For Sale $1,675,000 +34.0% $409 / Sq Ft
12/08/2017 12/08/17 Sold $1,250,000 0.0% $305 / Sq Ft View Prior Sale
10/10/2017 10/10/17 Pending -- -- --
10/06/2017 10/06/17 For Sale $1,250,000 -- $305 / 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: PW21032054

California Regional Multiple Listing Service (CRMLS)