NOT LISTED FOR SALE

1051 Ohio Ave Long Beach, CA 90804

Rose Park Neighborhood
9 Beds
5 Baths
6,708 Sq Ft
6,487 Sq Ft Lot

Last Sold May 06, 2016

Last sale price $1,715,841 $256 Per Sq Ft

44 Days on Market

About This Home

As of May 2016

The subject property is a two-story, eight unit apartment complex located in the Zaferia Neighborhood of Eastside Long Beach, California. Built in 1962, the complex has been completely remodeled from top to bottom, as current ownership has spent over $120,000 in recent renovations. These renovations include, but are not limited to; new interior/exterior paint and stucco, refinished hardwood floors, completely remodeled kitchens and bathrooms with new granite countertops and tiling. The property boasts an outstanding unit mix of 1 - Three Bed / One & One-Half Bath, 5 - Two Bed / One Bath, and 2 - One Bed / One Bath spacious units. On-site amenities include gated entrances in the front and rear of the property, an on-site laundry facility, and garage parking. Additionally, the average unit size for the property is 834 square feet.

Last Agent to Sell the Property

Patrick Swanson

Pat Swanson License #01382974 Listed on: 02/03/2016

Last Buyer's Agent

Patrick Swanson

Pat Swanson License #01382974 Listed on: 02/03/2016

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1962

Lot Details

  • 6,487 Sq Ft Lot
  • Property fronts an alley
  • No Common Walls

Parking

  • 4 Car Garage

Home Design

  • 6,708 Sq Ft Home

Bedrooms and Bathrooms

  • 9 Bedrooms
  • 5 Bathrooms

Outdoor Features

  • Exterior Lighting

Listing and Financial Details

  • Tenant pays for electricity, gas
  • Tax Lot 12
  • Tax Tract Number 5769
  • Assessor Parcel Number 7262002016

Community Details

Overview

  • No Home Owners Association
  • 8 Units

Building Details

  • 8 Leased Units
  • 8 Separate Electric Meters
  • 8 Separate Gas Meters
  • 1 Separate Water Meter
  • Electric Expense $600
  • Gardener Expense $840
  • Insurance Expense $2,348
  • Pest Control $1,500
  • Trash Expense $240
  • Water Sewer Expense $2,832
  • New Taxes Expense $19,559
  • Gross Income $11,665
  • Net Operating Income $92,767

Property Details

Home Type

Multi-Family

Year Built

Built in 1962

Lot Details

0

Parking

4

Listing Details

  • Assessments: Yes
  • CapRate: 5.54
  • Improvements Amount: 120000
  • Other Phone Description: Drew McAllister
  • Other Phone Number: 949-724-5581
  • Price Per Unit: 209375
  • Property Attached: No
  • Road Frontage Type: Alley
  • Road Surface Type: Alley Paved
  • Subdivision Name Other: Eastside (ES)
  • Water Sewer Expenses: 2832.00
  • Property Type: Residential Income
  • Gardener Expense: 840.00
  • Parcel Number: 7262002016
  • Year Built: 1962
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Common Walls: No Common Walls
  • Levels: Two
  • Price Per Square Foot: 255.79

Exterior Features

  • Pool Private: No

Garage/Parking

  • Garage Spaces: 4.00
  • Total Parking Spaces: 18.00

Utilities

  • Utilities: Sewer Available
  • Pest Control Expense: 1500.00
  • Trash Expense: 240.00
  • Water Source: Public

Condo/Co-op/Association

  • Association: No
  • Community Features: Curbs, Sidewalks, Street Lights, Storm Drains

Lot Info

  • Lot Size Sq Ft: 6487.00
  • Price Per Lot Square Foot: 264.50
  • Lot Size Acres: 0.1490

Rental Info

  • Tenant Pays: Electricity, Gas

Multi Family

  • Average1 Bed Area: 679
  • Average2 Bed Area: 850
  • Average3 Bed Area: 1200
  • Electric Expense: 600.00
  • Gross Income: 11665.00
  • Gross Multiplier: 11.97
  • Gross Scheduled Income: 134580.00
  • Insurance Expense: 2348.00
  • Laundry Equipment Own Lease: Own
  • Lot Size Area: 6487.0000 Square Feet
  • Net Operating Income: 92767.00
  • Number Of Rented Garages: 4
  • Number Of Separate Electric Meters: 8
  • Number Of Separate Gas Meters: 8
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 8
  • Number Of Units Total: 8
  • Operating Expense: 43176.00
  • Operating Expense Percent: 33.00
  • Rent Control: No
  • Total Actual Rent: 11215.00
  • Vacancy Allowance: 4037
  • Vacancy Allowance Rate: 3.00

Tax Info

  • New Taxes Expense: 19559.00
  • Tax Area: 5-500
  • Taxes Percent: 1.12
  • Tax Lot: 12
  • Tax Rate: 1.12
  • Tax Tract Number: 5769.0
  • Tax Year: 2015

Range of Values:

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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 Change Sq Ft Price
05/06/2016 05/06/16 Sold $1,715,841 +2.4% $256 / Sq Ft
03/18/2016 03/18/16 Pending -- -- --
02/03/2016 02/03/16 For Sale $1,675,000 +39.6% $250 / Sq Ft
06/04/2014 06/04/14 Sold $1,200,000 0.0% $179 / Sq Ft
05/30/2014 05/30/14 Pending -- -- --
02/22/2014 02/22/14 For Sale $1,200,000 -- $179 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Patrick Swanson

    Seller's Agent in 2016

    Patrick Swanson

    Pat Swanson

    (213) 864-2862

    1 in this area

    55 Total Sales

    Section Image
  • Shelly Smith

    Seller's Agent in 2014

    Shelly Smith

    Keller Williams Empire Estates

    (714) 745-2494

    42 Total Sales

    Section Image
  • Marty Stone

    Buyer's Agent in 2014

    Marty Stone

    BUCKINGHAM INVESTMENTS

    (310) 322-9763

    8 Total Sales

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: OC16023481

California Regional Multiple Listing Service (CRMLS)

APN: 7262-002-016

California Los Angeles County Long Beach 90804 Rose Park

1051 Ohio Ave, Long Beach, CA

This home is located at 1051 Ohio Ave, Long Beach, CA 90804 since 03 February 2016. This property was built in 1962. 1051 Ohio Ave is a home located in Los Angeles County with nearby schools including Willard Elementary School, Woodrow Wilson High School, and Creative Arts School.

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.

California Regional Multiple Listing Service (CRMLS) 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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