NOT LISTED FOR SALE
2 Beds
2 Baths
13,376 Sq Ft
0.27 Acre Lot

Sale Details

Date Sold: November 18, 2020

Last sale price $4,900,000 $366 Per Sq Ft

290 Days on Market

Highlights

  • 0.27 Acre Lot
  • No HOA
  • Laundry Facilities
  • Wilson High School Rated A

About This Home

As of November 2020

Located on the emerging Eastside of Long Beach, this offering features all two bedroom two bath apartment units and 24 garage spaces. Each unit is individually metered for gas and electricity, as well as having individual water heaters. Situated on two separate parcels, each with 8 units and 12 garage spaces, this property offers an investor the chance to receive an attractive cash on cash return with rental upside.

Last Agent to Sell the Property

Mike Marcu

Mike Marcu, Broker License #00919594 Listed on: 01/06/2020

Last Buyer's Agent

Mike Marcu

Mike Marcu, Broker License #00919594 Listed on: 01/06/2020

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Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1987

Lot Details

  • 11,761 Sq Ft Lot
  • 1 Common Wall
  • Density is 36-40 Units/Acre
  • 7262005013

Parking

  • 24 Car Garage
  • Parking Available
  • Assigned Parking

Home Design

  • 13,376 Sq Ft Home
  • Property Attached

Bedrooms and Bathrooms

  • 2 Bedrooms
  • 2 Bathrooms

Additional Features

  • Leased Washer and Dryer
  • Urban Location

Listing and Financial Details

  • Tenant pays for electricity, gas
  • Tax Lot 7262
  • Tax Tract Number 5

Community Details

Overview

  • No Home Owners Association
  • 2 Buildings
  • 16 Units

Amenities

  • Laundry Facilities

Building Details

  • 16 Leased Units
  • Rent Control
  • 16 Separate Electric Meters
  • 16 Separate Gas Meters
  • 2 Separate Water Meters
  • Electric Expense $2,276
  • Fuel Expense $193
  • Gardener Expense $720
  • Insurance Expense $3,400
  • Maintenance Expense $9,225
  • Other Expense $8,796
  • Professional Management Expense $8,100
  • Trash Expense $5,000
  • Water Sewer Expense $4,759
  • New Taxes Expense $64,630
  • Operating Expense $102,897
  • Gross Income $367,260
  • Net Operating Income $253,897

Property Details

Home Type

Multi-Family

Year Built

Built in 1987

Lot Details

0.27 Acres

Parking

24

Listing Details

  • CapRate: 4.84
  • Professional Management Expense: 8100.00
  • Property Attached: Yes
  • Subdivision Name Other: Junipero Gardens (JPG)
  • Water Sewer Expenses: 4759.00
  • Property Type: Residential Income
  • Gardener Expense: 720.00
  • Year Built: 1987
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Common Walls: 1 Common Wall
  • Price Per Square Foot: 366.33

Exterior Features

  • Pool Private: No

Garage/Parking

  • Garage Spaces: 24.00
  • Parking: Yes
  • Parking Features: Assigned
  • Total Parking Spaces: 24.00

Utilities

  • Laundry: Yes
  • Laundry Features: Common Area
  • Sewer: Public Sewer
  • Trash Expense: 5000.00
  • Water Source: Public

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Community Features: Urban

Lot Info

  • Additional Parcels: Yes
  • Additional Parcels Description: 7262005013
  • Land Lease: No
  • Lot Features: 36-40 Units/Acre
  • Lot Size Sq Ft: 11761.20
  • Lot Size Acres: 0.2700
  • Latitude Manual: 33.78037400

Rental Info

  • Tenant Pays: Electricity, Gas

Multi Family

  • Electric Expense: 2276.00
  • Fuel Expense: 193.00
  • Gross Income: 367260.00
  • Gross Multiplier: 14.30
  • Gross Operating Income: 356242.00
  • Gross Scheduled Income: 367260.00
  • Gross Spendable Income: 253897.00
  • Insurance Expense: 3400.00
  • Laundry Equipment Own Lease: Lease
  • Laundry Income: 600.00
  • Lot Size Area: 0.2700 Acres
  • Maintenance Expense: 9225.00
  • Net Operating Income: 253897.00
  • Number Of Separate Electric Meters: 16
  • Number Of Separate Gas Meters: 16
  • Number Of Separate Water Meters: 2
  • Number Of Units Leased: 16
  • Number Of Units Total: 16
  • Operating Expense: 102345.00
  • Other Expense: 8796.00
  • Other Expense Description: Misc.
  • Rent Control: Yes
  • Total Expenses: 102897.00
  • Vacancy Allowance Rate: 3.00

Tax Info

  • New Taxes Expense: 64630.00
  • Tax Lot: 7262
  • Tax Tract Number: 005

Ownership History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Name Owned For Owner Type

Purchase Details

Closed on
Jul 25, 2023
Sold by
Geoke Family Trust
Bought by

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$2,672,300
Outstanding Balance
$2,586,898
Interest Rate
6.96%
Mortgage Type
Construction

Purchase Details

Closed on
Aug 17, 2020
Sold by
Shahid Jehan A
Bought by
Goeke Robert F and The Goeke Family Trust

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$3,430,000
Interest Rate
2.8%
Mortgage Type
Construction

Purchase Details

Closed on
Apr 26, 2016
Sold by
Hebish Nady Z
Bought by
Shahid Jehan A and The Jehan A Shahid Separate Property Tru

Purchase Details

Closed on
Jan 27, 2016
Sold by
Shahid Jehan A
Bought by
The Hebish Shahid Living Trust

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,175,000
Interest Rate
3.25%
Mortgage Type
Commercial

Purchase Details

Closed on
Dec 23, 2015
Sold by
Shahid Jehan A
Bought by
Shahid Jehan A and The Jehan A Shahid Separate Property Tru

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,175,000
Interest Rate
3.25%
Mortgage Type
Commercial

Purchase Details

Closed on
Oct 15, 2014
Sold by
Shahid Jehan A
Bought by
Shahid Jehan A and The Jehan A Shahid Living Trust

Purchase Details

Listed on
Sep 25, 2013
Closed on
Dec 23, 2013
Sold by
Hebish Nady
Bought by
Shahid Jehan
Seller's Agent
Drew Baker
Remco - A. R. E. & Mgmt. Co.
Buyer's Agent
Drew Baker
Remco - A. R. E. & Mgmt. Co.
List Price
$1,195,000
Sold Price
$1,200,000
Premium/Discount to List
$5,000
0.42%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$900,000
Interest Rate
4.32%
Mortgage Type
Commercial

Purchase Details

Closed on
Oct 31, 2013
Sold by
Humfreville Henry F
Bought by
Shahid Jehan

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$900,000
Interest Rate
4.32%
Mortgage Type
Commercial
Source: Public Records

Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Agents Specializing in Hellman, CA

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Purchase History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Buyer Sale Price Title Company
$4,790,000 Chicago Title Company
Goeke Robert F $4,900,000 First American Title
Shahid Jehan A -- Wfg Title Company Of Ca
The Hebish Shahid Living Trust -- Wfg Title Company Of Ca
Shahid Jehan A -- Wfg Title Company Of Ca
Shahid Jehan A -- None Available
Shahid Jehan -- Lawyers Title
Shahid Jehan $1,200,000 Lawyers Title
Source: Public Records

Mortgage History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Status Borrower Loan Amount
Open $2,672,300
Previous Owner Goeke Robert F $3,430,000
Previous Owner Shahid Jehan A $1,175,000
Previous Owner Shahid Jehan $900,000
Source: Public Records

Property History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Event Price List to Sale Price per Sq Ft Prior Sale
11/18/2020 11/18/20 Sold $4,900,000 -6.7% $366 / Sq Ft
10/22/2020 10/22/20 Pending -- -- --
01/06/2020 01/06/20 For Sale $5,250,000 +337.5% $392 / Sq Ft
12/31/2013 12/31/13 Sold $1,200,000 +0.4% $179 / Sq Ft View Prior Sale
10/25/2013 10/25/13 Pending -- -- --
09/25/2013 09/25/13 For Sale $1,195,000 -- $179 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

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
2026 $32,815 $2,491,758 $1,560,600 $931,158
2025 $32,815 $2,442,900 $1,530,000 $912,900
2024 $31,389 $2,395,000 $1,500,000 $895,000
2023 $33,360 $2,548,980 $1,560,600 $988,380
2022 $31,306 $2,499,000 $1,530,000 $969,000
2021 $30,678 $2,450,000 $1,500,000 $950,000
2020 $22,605 $1,763,092 $1,082,432 $680,660
2019 $22,341 $1,728,603 $1,061,208 $667,395
2018 $21,751 $1,694,790 $1,040,400 $654,390
2017 $21,523 $1,657,500 $1,020,000 $637,500
2016 $15,578 $1,242,641 $517,767 $724,874
2015 $14,964 $1,223,976 $509,990 $713,986
2014 $14,885 $1,200,000 $500,000 $700,000
Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: OC20003984

California Regional Multiple Listing Service (CRMLS)
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