NOT LISTED FOR SALE

1065 E Ocean Blvd Long Beach, CA 90802

Alamitos Beach Neighborhood
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

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

0

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

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 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 Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Reza Ghobadi

    Seller's Agent in 2017

    Reza Ghobadi

    Reza Ghobadi

    (818) 793-2923

    17 Total Sales

    Reza Ghobadi
    Section Image
  • Robert Stepp

    Buyer's Agent in 2017

    Robert Stepp

    Keller Williams Realty Downey

    (310) 463-2916

    5 in this area

    75 Total Sales

    Robert Stepp
    Section Image
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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: SR17107234

California Regional Multiple Listing Service (CRMLS)
California Los Angeles County Long Beach 90802 Alamitos Beach

1065 E Ocean Blvd, Long Beach, CA

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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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