NOT LISTED FOR SALE
2 Beds
1 Bath
5,464 Sq Ft
6,963 Sq Ft Lot

Last Sold February 26, 2016

Last sale price $1,285,000 $235 Per Sq Ft

48 Days on Market

About This Home

As of February 2016

The 7th Street Apartments offer an investor the opportunity to acquire a property with 100% 2-bedroom units; not an easy find in Long Beach. The building design and layout provide for a low maintenance exterior. Newer windows, a laundry facility, and on-site parking are among the amenities. The property is walking distance to schools, churches, and public transportation. The current rents have room to be raised.

Last Agent to Sell the Property

Damien Breaux

Morgan Skenderian License #01460301 Listed on: 12/10/2015

Last Buyer's Agent

Damien Breaux

Morgan Skenderian License #01460301 Listed on: 12/10/2015

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1959

Lot Details

  • 6,963 Sq Ft Lot
  • 1 Common Wall
  • Density is 6-10 Units/Acre

Parking

  • 10 Parking Spaces

Home Design

  • 5,464 Sq Ft Home
  • Property Attached

Bedrooms and Bathrooms

  • 2 Bedrooms
  • 1 Bathroom

Listing and Financial Details

  • Tax Lot 1
  • Assessor Parcel Number 7266006017

Community Details

Overview

  • 8 Units
  • Blackburn

Building Details

  • 9 Separate Electric Meters
  • 9 Separate Gas Meters
  • 1 Separate Water Meter
  • Gardener Expense $900
  • Insurance Expense $1,748
  • Maintenance Expense $5,127
  • Other Expense $500
  • Trash Expense $3,120
  • Water Sewer Expense $3,121
  • New Taxes Expense $16,160
  • Gross Income $8,995
  • Net Operating Income $71,867

Property Details

Home Type

Multi-Family

Year Built

Built in 1959

Lot Details

6,963 Sq Ft Lot

Listing Details

  • CapRate: 5.40
  • Property Attached: Yes
  • Water Sewer Expenses: 3121.00
  • Property Type: Residential Income
  • Gardener Expense: 900.00
  • Parcel Number: 7266006017
  • Year Built: 1959
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Common Walls: 1 Common Wall
  • Price Per Square Foot: 235.18

Exterior Features

  • Pool Private: No

Garage/Parking

  • Total Parking Spaces: 10.00

Utilities

  • Utilities: Sewer Available
  • Trash Expense: 3120.00
  • Water Source: Public

Condo/Co-op/Association

  • Community Features: Curbs, Sidewalks

Lot Info

  • Lot Features: 6-10 Units/Acre
  • Lot Size Sq Ft: 6963.00
  • Price Per Lot Square Foot: 184.55
  • Lot Size Acres: 0.1600

Multi Family

  • Gross Income: 8995.00
  • Gross Multiplier: 12.23
  • Gross Scheduled Income: 107940.00
  • Insurance Expense: 1748.00
  • Lot Size Area: 6963.0000 Square Feet
  • Maintenance Expense: 5127.00
  • Maintenance Percent: 5.00
  • Net Operating Income: 71867.00
  • Number Of Separate Electric Meters: 9
  • Number Of Separate Gas Meters: 9
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 8
  • Operating Expense: 30676.00
  • Operating Expense Percent: 28.40
  • Other Expense: 500.00
  • Other Expense Description: Admin
  • Other Income Description: Parking
  • Rent Control: No
  • Total Actual Rent: 8870.00
  • Vacancy Allowance Rate: 5.00

Tax Info

  • New Taxes Expense: 16160.00
  • Tax Lot: 1
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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 Prior Sale
02/26/2016 02/26/16 Sold $1,285,000 -2.7% $235 / Sq Ft
01/27/2016 01/27/16 Pending -- -- --
12/10/2015 12/10/15 For Sale $1,320,000 +38.9% $242 / Sq Ft
09/16/2013 09/16/13 Sold $950,000 -4.5% $174 / Sq Ft View Prior Sale
08/19/2013 08/19/13 Pending -- -- --
04/23/2013 04/23/13 For Sale $995,000 -- $182 / 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 $26,595 $2,057,800 $1,334,245 $723,555
2024 $26,595 $2,017,452 $1,308,084 $709,368
2023 $26,142 $1,977,895 $1,282,436 $695,459
2022 $24,540 $1,939,114 $1,257,291 $681,823
2021 $24,041 $1,901,093 $1,232,639 $668,454
2020 $18,089 $1,390,924 $974,188 $416,736
2019 $17,877 $1,363,652 $955,087 $408,565
2018 $17,371 $1,336,914 $936,360 $400,554
2016 $12,495 $983,756 $688,629 $295,127
2015 $12,007 $968,980 $678,286 $290,694
2014 $11,954 $950,000 $665,000 $285,000
Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PW15260898

California Regional Multiple Listing Service (CRMLS)
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