Seller's Agent in 2024
Melissa Seidel
The RECollective
(562) 972-9742
1 in this area
40 Total Sales
1065 Olive Ave Long Beach, CA 90813
Saint Mary's Neighborhood
7
Beds
6
Baths
2,726
Sq Ft
6,517
Sq Ft Lot
Highlights
- No HOA
- Ductless Heating Or Cooling System
- Laundry Room
- Long Beach Polytechnic High School Rated A
- Home Security System
- Turnkey
About This Home
As of October 2024Don't miss out on this excellent investment opportunity!!! Compound housing that consists of 3 structures with a total of 5 units that have been completely remodeled and furnished from top to bottom making it comfortable and welcoming stay for all tenants and guests. EVERTHING on the property is new!!! New roof, new flooring, new plumbing, new electric...everything! The property is very safe and secure offering an ADT and camera system, flood lights, and security gates. All units are individually metered for electric, water, gas, and have their own mini-split system for heating and cooling. This property is energy efficient, so the monthly expenses are extremely low! Other amenities include tankless water heaters, electric car chargers, private outdoor patio space, parking, and high-speed Wi-Fi. The 3bed/2bath is currently permitted for Airbnb which is the perfect opportunity for short term rentals with little to no vacancy ratio. Located within walking distance to St. Mary's Hospital where more than 50% of the employees are traveling from out of state. The income is approximately $15,000 a month for short term rentals. This location is within a 15-minute walking distance to popular Long Beach tourist attractions which include the Convention Center, Shoreline Village, Aquarium of the Pacific, Queen Mary, Pine St, beach, restaurants, and much more.
Last Agent to Sell the Property
The RECollective Brokerage Phone: 562-972-9742 License #01852718 Listed on: 07/08/2024
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $12,022
Year Built
- Built in 1963 | Remodeled
Lot Details
- 6,517 Sq Ft Lot
- Two or More Common Walls
- Wood Fence
- Front Yard
Parking
- 6 Parking Spaces
Home Design
- Property Attached
- Entry on the 1st floor
- Turnkey
Interior Spaces
- 2,726 Sq Ft Home
- 1-Story Property
- Laminate Flooring
- Home Security System
Kitchen
- Gas Oven
- Dishwasher
Bedrooms and Bathrooms
- 7 Bedrooms
- 6 Bathrooms
Laundry
- Laundry Room
- Laundry in Kitchen
- Dryer
- Washer
Location
- Suburban Location
Utilities
- Ductless Heating Or Cooling System
- Heating Available
- Natural Gas Connected
- Cable TV Available
Listing and Financial Details
- Tax Lot 18
- Tax Tract Number 11
- Assessor Parcel Number 7274012019
Community Details
Overview
- No Home Owners Association
- 3 Buildings
- 5 Units
- Downtown Subdivision
Amenities
- Laundry Facilities
Building Details
- 5 Separate Electric Meters
- 5 Separate Gas Meters
- 5 Separate Water Meters
- Insurance Expense $8,400
- Trash Expense $2,040
- Water Sewer Expense $4,080
- Security Expense $2,400
- Operating Expense $17,930
- Gross Income $180,000
- Net Operating Income $162,070
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
Jul 8, 2024
Closed on
Oct 23, 2024
Sold by
Incan Project Development Group Inc
Bought by
King Lineage Llc
Seller's Agent
Melissa Seidel
The RECollective
Buyer's Agent
Rady Math
GML Homes, Inc.
List Price
$1,900,000
Sold Price
$1,625,000
Premium/Discount to List
-$275,000
-14.47%
Views
30
Current Estimated Value
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
-$33,697
Avg. Annual Appreciation
-2.35%
Original Mortgage
$1,300,000
Outstanding Balance
$1,288,557
Interest Rate
6.2%
Mortgage Type
New Conventional
Estimated Equity
$302,746
Purchase Details
Closed on
Oct 26, 2021
Sold by
Leblane Kimberly and Gracie Lee Leblane Living Trus
Bought by
Incan Project Development Group Inc
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$740,000
Interest Rate
3.09%
Mortgage Type
Commercial
Purchase Details
Closed on
Sep 28, 2018
Sold by
Blanc Gracie Lee Le
Bought by
Blanc Gracie Lee Le
Purchase Details
Closed on
May 12, 2016
Sold by
Anderson Michael
Bought by
Anderson Janice Marie
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$150,000
Interest Rate
3.58%
Mortgage Type
Credit Line Revolving
Purchase Details
Closed on
May 11, 2016
Sold by
Leblanc Gracie Lee
Bought by
Leblanc Gracie Lee and Anderson Janice Marie
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$150,000
Interest Rate
3.58%
Mortgage Type
Credit Line Revolving
Purchase Details
Closed on
Oct 26, 2007
Sold by
Leblanc Gracie Lee and Johnson Gracie Lee
Bought by
Leblanc Gracie Lee
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$79,000
Interest Rate
6.29%
Mortgage Type
Credit Line Revolving
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
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Grant Deed | $1,625,000 | Fidelity National Title | |
| Grant Deed | $518,000 | Fidelity Natl Ttl Orange Cnt | |
| Interfamily Deed Transfer | -- | Accommodation | |
| Interfamily Deed Transfer | -- | Ortc | |
| Interfamily Deed Transfer | -- | Ortc | |
| Interfamily Deed Transfer | -- | Fidelity National Title Co |
Source: Public Records
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Open | $1,300,000 | New Conventional | |
| Previous Owner | $65,000 | New Conventional | |
| Previous Owner | $250,000 | New Conventional | |
| Previous Owner | $740,000 | Commercial | |
| Previous Owner | $150,000 | Credit Line Revolving | |
| Previous Owner | $79,000 | Credit Line Revolving |
Source: Public Records
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 10/28/2024 10/28/24 | Sold | $1,625,000 | -3.0% | $596 / Sq Ft |
| 09/22/2024 09/22/24 | Pending | -- | -- | -- |
| 08/22/2024 08/22/24 | Price Changed | $1,675,000 | -6.9% | $614 / Sq Ft |
| 08/01/2024 08/01/24 | Price Changed | $1,799,999 | -2.7% | $660 / Sq Ft |
| 07/31/2024 07/31/24 | Price Changed | $1,850,000 | -2.6% | $679 / Sq Ft |
| 07/08/2024 07/08/24 | For Sale | $1,900,000 | -- | $697 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
Tax History Compared to Growth
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 | $12,022 | $1,625,000 | $825,000 | $800,000 |
| 2024 | $12,022 | $920,754 | $598,230 | $322,524 |
| 2023 | $11,824 | $902,700 | $586,500 | $316,200 |
| 2022 | $11,101 | $885,000 | $575,000 | $310,000 |
| 2021 | $1,273 | $67,884 | $25,785 | $42,099 |
| 2020 | $1,267 | $67,189 | $25,521 | $41,668 |
| 2019 | $1,254 | $65,872 | $25,021 | $40,851 |
| 2018 | $1,095 | $64,581 | $24,531 | $40,050 |
| 2016 | $991 | $62,075 | $23,579 | $38,496 |
| 2015 | $960 | $61,143 | $23,225 | $37,918 |
| 2014 | $967 | $59,947 | $22,771 | $37,176 |
Source: Public Records
Agents Affiliated with this Home
-
Melissa Seidel
-
Rady Math
Buyer's Agent in 2024
Rady Math
GML Homes, Inc.
(562) 786-4296
1 in this area
15 Total Sales
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: PW24138883
APN: 7274-012-019
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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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