NOT LISTED FOR SALE
3 Beds
3 Baths
7,650 Sq Ft
8,230 Sq Ft Lot

Last Sold July 18, 2017

Last sale price $3,580,000 $468 Per Sq Ft

2 Days on Market

About This Home

As of July 2017

This is a 15 unit apartment building on 1065 E. Ocean Boulevard in the City of Long Beach. Located in prime Alamitos Beach, this property is just steps away from the ocean. The building offers a unit mix of two 2 bedroom / 1 Bathroom, Three 1 bedroom / 1 Bathroom, Ten Studios and One non-confirming Studio unit. Other amenities include a laundry facility, central courtyard and controlled access entry. Built in 1922 on raised foundation this charming building is master metered for electricity and separately metered for gas. Located in prime Alamitos Beach, this apartment complex is within walking distance to Downtown Long Beach and East Village Arts District. Furthermore, some of the units offer balconies, hardwood and ceramic flooring, stoves, ceiling fans and updated bathrooms.

Last Agent to Sell the Property

Reza Ghobadi

Reza Ghobadi License #01780045 Listed on: 05/15/2017

Last Buyer's Agent

Robert Stepp

Keller Williams Realty Downey License #01456379

Keller Williams Realty Downey

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1922

Lot Details

  • 8,230 Sq Ft Lot
  • Two or More Common Walls

Home Design

  • 7,650 Sq Ft Home
  • Property Attached

Bedrooms and Bathrooms

  • 3 Bedrooms
  • 3 Bathrooms

Listing and Financial Details

  • Tax Lot 13
  • Tax Tract Number 576601
  • Assessor Parcel Number 7265003013

Community Details

Overview

  • 15 Units

Building Details

  • 15 Separate Gas Meters
  • Electric Expense $7,000
  • Gardener Expense $600
  • Insurance Expense $3,060
  • Maintenance Expense $7,500
  • Pest Control $480
  • Professional Management Expense $9,183
  • Water Sewer Expense $1,000
  • New Taxes Expense $43,494
  • Operating Expense $83,318
  • Gross Income $236,652
  • Net Operating Income $146,269

Property Details

Home Type

Multi-Family

Year Built

Built in 1922

Lot Details

8,230 Sq Ft Lot

Listing Details

  • CapRate: 4.07
  • Professional Management Expense: 9183.00
  • Property Attached: Yes
  • Subdivision Name Other: Alamitos Beach (AB)
  • Water Sewer Expenses: 1000.00
  • Zoning: LBR4R
  • Property Type: Residential Income
  • Gardener Expense: 600.00
  • Parcel Number: 7265003013
  • Year Built: 1922
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Common Walls: 2+ Common Walls
  • Price Per Square Foot: 467.97

Exterior Features

  • Pool Private: No

Utilities

  • Pest Control Expense: 480.00
  • Sewer: Public Sewer
  • Water Source: Public

Condo/Co-op/Association

  • Community Features: Sidewalks

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: Walkstreet
  • Lot Size Sq Ft: 8230.00

Multi Family

  • Electric Expense: 7000.00
  • Gross Income: 236652.00
  • Gross Multiplier: 15.26
  • Gross Scheduled Income: 2323551.00
  • Insurance Expense: 3060.00
  • Laundry Income: 1140.00
  • Maintenance Expense: 7500.00
  • Net Operating Income: 146269.00
  • Number Of Separate Gas Meters: 15
  • Number Of Units Total: 15
  • Operating Expense: 83318.00
  • Rent Control: No
  • Total Expenses: 83318.00
  • Vacancy Allowance Rate: 3.00

Tax Info

  • New Taxes Expense: 43494.00
  • Tax Census Tract: 5766.01
  • Tax Lot: 13
  • Tax Tract Number: 576601
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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
07/18/2017 07/18/17 Sold $3,580,000 -0.4% $468 / Sq Ft
05/17/2017 05/17/17 Pending -- -- --
05/15/2017 05/15/17 For Sale $3,595,000 -- $470 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

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 $52,171 $4,073,426 $2,275,657 $1,797,769
2024 $52,171 $3,993,556 $2,231,037 $1,762,519
2023 $51,278 $3,915,252 $2,187,292 $1,727,960
2022 $48,116 $3,838,483 $2,144,404 $1,694,079
2021 $47,156 $3,763,219 $2,102,357 $1,660,862
2019 $46,480 $3,652,660 $2,040,000 $1,612,660
2018 $45,336 $3,581,060 $2,000,000 $1,581,060
2016 $32,780 $2,666,500 $1,838,073 $828,427
2015 $31,469 $2,626,448 $1,810,464 $815,984
2014 $23,338 $1,850,000 $1,000,000 $850,000
Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: SR17107234

California Regional Multiple Listing Service (CRMLS)
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