Seller's Agent in 2020
Tyler Leeson
Marcus & Millichap RE Invest
(949) 419-3200
2 in this area
155 Total Sales
1055 Newport Ave Long Beach, CA 90804
Recreation Park Neighborhood
7
Beds
5
Baths
9,500
Sq Ft
9,148
Sq Ft Lot
Highlights
- 0.21 Acre Lot
- Laundry Room
- Floor Furnace
- Woodrow Wilson High School Rated A
- Landscaped
About This Home
As of February 20201055 Newport Avenue is a 13-unit multifamily investment property located in Long Beach, one of the premiere housing markets in Southern California. Situated on a 0.21-acre lot, the 9,500 square foot property consists of one- and two-bedroom floor plans averaging over 730 square feet. Built in 1985, the property offers amenities including gated pedestrian and vehicle access, gated covered parking, private patios, private balconies, and on-site laundry. 1055 Newport Avenue is located under 2 miles from California State University, Long Beach, the third largest campus in the 23-member California State University system. The university enrolls over 33,000 students annually and is a major local economic driver, generating a $1 billion impact on the regional and statewide economy each year. The property is also is located within walking distance of the Belmont Shopping Center, a 112,302 SF retail center anchored by Food 4 Less and Rite Aid.
Last Agent to Sell the Property
Marcus & Millichap RE Invest License #01451551 Listed on: 05/24/2018
Property Details
Home Type
- Apartment
Year Built
- Built in 1985
Lot Details
- 9,148 Sq Ft Lot
- No Common Walls
- Landscaped
Home Design
- 9,500 Sq Ft Home
Bedrooms and Bathrooms
- 7 Bedrooms
- 5 Bathrooms
Parking
- 13 Parking Spaces
- 13 Carport Spaces
Additional Features
- Laundry Room
- Floor Furnace
Listing and Financial Details
- Tax Lot 1
- Tax Tract Number 577000
- Assessor Parcel Number 7258007037
Community Details
Building Details
- 13 Leased Units
- 13 Separate Electric Meters
- 13 Separate Gas Meters
- 1 Separate Water Meter
- Electric Expense $1,518
- Fuel Expense $1,518
- Insurance Expense $3,000
- Maintenance Expense $7,800
- Other Expense $3,900
- Professional Management Expense $6,000
- Trash Expense $1,518
- Water Sewer Expense $1,518
- New Taxes Expense $50,407
- Operating Expense $82,577
- Gross Income $271,680
- Net Operating Income $184,953
Additional Features
- 13 Units
- Laundry Facilities
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area
Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 02/14/2020 02/14/20 | Sold | $3,950,000 | -1.3% | $416 / Sq Ft |
| 11/19/2019 11/19/19 | Pending | -- | -- | -- |
| 11/05/2019 11/05/19 | Price Changed | $4,000,000 | -6.4% | $421 / Sq Ft |
| 03/19/2019 03/19/19 | Price Changed | $4,275,000 | -3.4% | $450 / Sq Ft |
| 09/27/2018 09/27/18 | For Sale | $4,425,000 | +12.0% | $466 / Sq Ft |
| 09/26/2018 09/26/18 | Off Market | $3,950,000 | -- | -- |
| 05/24/2018 05/24/18 | For Sale | $4,425,000 | -- | $466 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
Tax History Compared to Growth
Agents Affiliated with this Home
-
Tyler Leeson
-
Greg Bassirpou
Buyer's Agent in 2020
Greg Bassirpou
Marcus & Millichap RE Invest
(949) 419-3269
31 Total Sales
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: OC18123342
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