NOT LISTED FOR SALE

1040 E 6th St Long Beach, CA 90802

North Alamitos Beach Neighborhood

Estimated Value: $1,149,000 - $1,364,000

4 Beds
3 Baths
2,054 Sq Ft
$605/Sq Ft Est. Value

Last Sold January 15, 2013

Last sale price $415,000 $202 Per Sq Ft

Est. 200% increase in value since last sale

Current estimated payment $7,087/month

140 Days on Market

Highlights

  • 0.15 Acre Lot
  • Wood Flooring
  • Wood Siding
  • Long Beach Polytechnic High School Rated A
  • Bungalow
  • No Heating

About This Home

As of January 2013

Highly desirable triplex consisting of a charming 2-bedroom / 1-bath bungalow home with 830 SF of living space at the front of the property plus (2) separate rental units in the back of the property. The units have separate entrances, private patio/yards, wood floors, and custom built-ins. The first unit has 1-bedroom / 1-bath with 592 SF of living space and the second unit has 1-bedroom / 2-bathrooms with 763 SF of living space. The entire property has been remodeled with new roof, new flooring, new paint inside/out, new fixtures, new kitchen cabinets + countertops, new appliances, new bathrooms, etc, etc. This is a great property for a first time homebuyer looking for rental income to offset their payment OR for an investor looking for cashflow. Seller financing available. Please do not disturb the tenants.

Last Agent to Sell the Property

Ryan Young

CalPac Management, Inc. License #01245001 Listed on: 07/09/2012

Last Buyer's Agent

Melisa Yeo

Hawk & Dove Real Estate Group License #01404293

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1924

Lot Details

  • 6,449

Home Design

  • 2,054 Sq Ft Home
  • Bungalow
  • Shingle Roof
  • Wood Siding

Flooring

  • Wood
  • Carpet
  • Tile

Additional Features

  • 6,449 Sq Ft Lot
  • No Heating

Listing and Financial Details

  • Tenant pays for cable TV, electricity, gas
  • Tax Lot 0.1
  • Tax Tract Number 1
  • Assessor Parcel Number 7266007006

Community Details

Overview

  • 2 Buildings
  • 3 Units

Building Details

  • 3 Separate Electric Meters
  • 1 Separate Water Meter
  • Electric Expense $15
  • Gardener Expense $55
  • Insurance Expense $100
  • Trash Expense $25
  • Water Sewer Expense $55
  • New Taxes Expense $425
  • Gross Income $2,240
  • Net Operating Income $36,000

Property Details

Home Type

Multi-Family

Year Built

Built in 1924

Lot Details

0

Listing Details

  • Assessments: No
  • CapRate: 8.47
  • View: No
  • Water Sewer Expenses: 55.00
  • Architectural Style: Bungalow
  • Property Type: Residential Income
  • Gardener Expense: 55.00
  • Parcel Number: 7266007006
  • Year Built: 1924
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Fireplace: No
  • Flooring: Carpet, Tile, Wood
  • Appliances: No
  • Levels: One
  • Price Per Square Foot: 202.04

Exterior Features

  • Pool Private: No
  • Roof: Shingle
  • Spa: No
  • Construction Materials: Wood Siding

Garage/Parking

  • Parking: No

Utilities

  • Utilities: Water Connected
  • Heating: No
  • Laundry: No
  • Trash Expense: 25.00

Condo/Co-op/Association

  • Senior Community: No

Lot Info

  • Lot Size Sq Ft: 6449.00
  • Lot Size Acres: 0.1480

Rental Info

  • Tenant Pays: Cable TV, Electricity, Gas

Multi Family

  • Electric Expense: 15.00
  • Gross Income: 2240.00
  • Gross Multiplier: 11.42
  • Gross Scheduled Income: 37200.00
  • Insurance Expense: 100.00
  • Net Operating Income: 36000.00
  • Number Of Separate Electric Meters: 3
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 3
  • Operating Expense: 100.00

Tax Info

  • New Taxes Expense: 425.00
  • Tax Area: 11933
  • Tax Lot: 0.1
  • Tax Tract Number: 1

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jul 9, 2012
Closed on
Feb 1, 2013
Sold by
Valasquez Edmund
Bought by
Lopez Samuel J
Seller's Agent
Ryan Young
CalPac Management, Inc.
Buyer's Agent
Melisa Yeo
Hawk & Dove Real Estate Group
List Price
$425,000
Sold Price
$415,000
Premium/Discount to List
-$10,000
-2.35%
Current Estimated Value
$1,243,000

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$828,000
Avg. Annual Appreciation
8.83%
Original Mortgage
$423,922
Outstanding Balance
$295,109
Interest Rate
3.32%
Mortgage Type
VA
Estimated Equity
$947,891

Purchase Details

Closed on
Jun 16, 2010
Sold by
Cal Pac Mgmt Inc
Bought by
Valasquez Edmund

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$368,207
Interest Rate
4.99%
Mortgage Type
FHA

Purchase Details

Closed on
Dec 2, 2009
Sold by
Deutsche Bank National Trust Company
Bought by
Cal Pac Management Inc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$215,000
Interest Rate
5.01%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
May 22, 2009
Sold by
Briggs Jack
Bought by
Deutsche Bank National Trust Company

Purchase Details

Closed on
May 12, 2008
Sold by
Lilly Cheri
Bought by
Lilly Cheri and Briggs Jack

Purchase Details

Closed on
Jan 29, 2007
Sold by
Briggs Jack and Lilly Cheri
Bought by
Lilly Cheri

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$130,000
Interest Rate
6.11%
Mortgage Type
New Conventional

Purchase Details

Closed on
May 31, 2005
Sold by
Briggs Jack
Bought by
Briggs Jack and Lilly Cheri

Purchase Details

Closed on
Dec 8, 2003
Sold by
Briggs Irene C
Bought by
Briggs Jack

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$162,000
Interest Rate
5.12%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
Nov 6, 2003
Sold by
Lowenberg Ronald F and Tena M Lowenberg Trust
Bought by
Briggs Jack

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$162,000
Interest Rate
5.12%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
Oct 30, 2002
Sold by
Lowenberg Tena Marie
Bought by
Lowenberg Ronald F and Tena M Lowenberg Trust
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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Average Value
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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

Purchase History

Date Buyer Sale Price Title Company
Lopez Samuel J $415,000 Lawyers Title Co
Valasquez Edmund $375,000 Lawyers Title Company
Cal Pac Management Inc $255,000 Advantage Title Inc
Deutsche Bank National Trust Company $255,000 None Available
Lilly Cheri -- None Available
Lilly Cheri -- Orange Coast Title
Briggs Jack -- --
Briggs Jack -- Commonwealth Land Title Co
Briggs Jack $312,000 Commonwealth Land Title Co
Lowenberg Ronald F -- --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Lopez Samuel J $423,922
Previous Owner Valasquez Edmund $368,207
Previous Owner Cal Pac Management Inc $215,000
Previous Owner Lilly Cheri $130,000
Previous Owner Briggs Jack $162,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
01/15/2013 01/15/13 Sold $415,000 -2.4% $202 / Sq Ft
11/26/2012 11/26/12 Pending -- -- --
07/09/2012 07/09/12 For Sale $425,000 -- $207 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

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 $6,896 $511,031 $357,109 $153,922
2024 $6,896 $501,011 $350,107 $150,904
2023 $6,778 $491,189 $343,243 $147,946
2022 $6,373 $481,559 $336,513 $145,046
2021 $6,239 $472,117 $329,915 $142,202
2020 $6,223 $467,517 $326,533 $140,984
2019 $6,151 $458,356 $320,131 $138,225
2018 $5,919 $449,374 $313,854 $135,520
2016 $5,447 $431,695 $301,667 $130,028
2015 $5,234 $425,211 $297,136 $128,075
2014 $5,210 $416,883 $291,316 $125,567
Source: Public Records

Agents Affiliated with this Home

  • R

    Seller's Agent in 2013

    Ryan Young

    CalPac Management, Inc.

    Section Image
  • Melisa Yeo

    Buyer's Agent in 2013

    Melisa Yeo

    Hawk & Dove Real Estate Group

    (714) 882-1119

    46 Total Sales

    Melisa Yeo
    Section Image
See All Agents

Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: L39288

California Regional Multiple Listing Service (CRMLS)

APN: 7266-007-006

California Los Angeles County Long Beach 90802 North Alamitos Beach

1040 E 6th St, Long Beach, CA

Not Listed for Sale

MultiFamily

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