T
Seller's Agent in 2018
Tim Stuart
Timothy Stuart, Broker
1100 E 7th St Long Beach, CA 90813
North Alamitos Beach Neighborhood
8
Beds
10
Baths
4,540
Sq Ft
6,793
Sq Ft Lot
Highlights
- No Units Above
- 0.16 Acre Lot
- Property is near park and public transit
- Long Beach Polytechnic High School Rated A
- Open Floorplan
- 5-minute walk to Craftsman Village Park
About This Home
As of November 2018A unique opportunity to own a 10-unit long-term rental property in an up-and-coming Long Beach neighborhood. Just blocks from downtown, Retro Row, the beach, Long Beach City College, shopping, restaurants, public transportation, this property has it all. The building has undergone a complete gut renovation and remodel including new plumbing, electrical, cabinets, countertops, quartz slab shower surrounds, fixtures and hardware. Included in each unit: refrigerator, cooktop, air conditioning, stacked washer/dryer and ample loft-style storage. Polished concrete flooring, exposed brick walls, 12-foot ceilings, large windows for natural light, and industrial finishes give these units a uniquely in-demand architectural style requiring minimal maintenance due to the durability of the surfaces and the simplicity of the design. Property is fully-occupied with long-term leases in place and tenants have been screened to the most stringent of standards. All rents listed are ACTUAL. This is a turnkey property in a location with significant upside.
Last Agent to Sell the Property
Tim Stuart
Timothy Stuart, Broker License #01742379 Listed on: 08/07/2018
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $10,371
Year Built
- Built in 1933 | Remodeled
Lot Details
- 6,793 Sq Ft Lot
- No Units Above
- No Units Located Below
- Two or More Common Walls
- Security Fence
- Privacy Fence
- Wood Fence
- Block Wall Fence
- New Fence
- Drip System Landscaping
- Corner Lot
- Rectangular Lot
- Level Lot
- Backyard Sprinklers
- Sprinklers on Timer
- Garden
- Zero Lot Line
Parking
- 2 Car Garage
- 1 Open Parking Space
- Parking Available
- Workshop in Garage
- Front Facing Garage
- Tandem Garage
- Single Garage Door
- Garage Door Opener
Home Design
- Traditional Architecture
- Modern Architecture
- Apartment
- Entry on the 1st floor
- Turnkey
- Brick Exterior Construction
- Slab Foundation
- Fire Rated Drywall
- Frame Construction
- Rolled or Hot Mop Roof
- Bitumen Roof
- Pre-Cast Concrete Construction
- Concrete Perimeter Foundation
- Seismic Tie Down
- Stucco
Interior Spaces
- 4,540 Sq Ft Home
- 1-Story Property
- Open Floorplan
- Wired For Data
- Brick Wall or Ceiling
- High Ceiling
- Recessed Lighting
- Double Pane Windows
- Low Emissivity Windows
- Drapes & Rods
- Window Screens
- Insulated Doors
- Great Room
- Storage
- Concrete Flooring
- Neighborhood Views
Kitchen
- Electric Cooktop
- Stone Countertops
- Disposal
Bedrooms and Bathrooms
- 8 Bedrooms
- 10 Bathrooms
Laundry
- Laundry Room
- Stacked Washer and Dryer
Home Security
- Security Lights
- Carbon Monoxide Detectors
- Fire and Smoke Detector
Accessible Home Design
- Doors swing in
- Doors are 32 inches wide or more
- No Interior Steps
- Entry Slope Less Than 1 Foot
Outdoor Features
- Exterior Lighting
- Separate Outdoor Workshop
- Outdoor Storage
Location
- Property is near park and public transit
- Urban Location
Utilities
- High Efficiency Air Conditioning
- SEER Rated 13-15 Air Conditioning Units
- High Efficiency Heating System
- Air Source Heat Pump
- 220 Volts in Kitchen
- Natural Gas Connected
- Hot Water Circulator
- Gas Water Heater
- Cable TV Available
Listing and Financial Details
- Tenant pays for cable TV, electricity, security, telephone
- Tax Lot 2
- Assessor Parcel Number 7266011001
Community Details
Overview
- No Home Owners Association
- 10 Units
Building Details
- 10 Leased Units
- 10 Separate Electric Meters
- 1 Separate Gas Meter
- 1 Separate Water Meter
- Electric Expense $1,200
- Fuel Expense $1,200
- Insurance Expense $2,400
- Maintenance Expense $3,264
- Professional Management Expense $8,160
- Trash Expense $1,200
- Water Sewer Expense $1,200
- New Taxes Expense $26,366
- Operating Expense $45,390
- Gross Income $163,200
- Net Operating Income $115,872
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
Listed on
Aug 7, 2018
Closed on
Nov 8, 2018
Sold by
Bought by
Seller's Agent
Tim Stuart
Timothy Stuart, Broker
Buyer's Agent
Jason Phipps
Realatrends
List Price
$2,365,000
Sold Price
$2,050,000
Premium/Discount to List
-$315,000
-13.32%
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,300,000
Interest Rate
0.047%
Mortgage Type
Commercial
Purchase Details
Closed on
May 13, 2013
Sold by
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
$310,000
Interest Rate
0.0332%
Mortgage Type
Commercial
Purchase Details
Closed on
Nov 14, 2001
Sold by
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
$90,000
Interest Rate
0.0713%
Mortgage Type
Seller Take Back
Purchase Details
Closed on
Dec 10, 1998
Sold by
Bought by
Purchase Details
Closed on
Jul 6, 1998
Sold by
Bought by
Purchase Details
Closed on
May 20, 1997
Sold by
Bought by
Purchase Details
Closed on
Oct 1, 1996
Sold by
Bought by
Purchase Details
Closed on
Jul 1, 1996
Sold by
Bought by
Purchase Details
Closed on
Jan 16, 1996
Sold by
Bought by
Purchase Details
Closed on
Nov 20, 1995
Sold by
Bought by
Purchase Details
Closed on
Jun 27, 1994
Sold by
Bought by
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Home Values in the Area
Average Home Value in this Area
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 |
|---|---|---|---|
| $2,050,000 | Chicago Title Company | ||
| $695,000 | Ticor Title Co | ||
| $244,000 | Orange Coast Title | ||
| -- | First Southwestern Title Co | ||
| $52,500 | Northern Counties Title Co | ||
| -- | -- | ||
| $135,000 | -- | ||
| -- | -- | ||
| $139,804 | Stewart Title | ||
| -- | -- | ||
| $175,000 | World 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 | $1,300,000 | ||
| Previous Owner | $863,100 | ||
| Previous Owner | $885,000 | ||
| Previous Owner | $400,000 | ||
| Previous Owner | $300,000 | ||
| Previous Owner | $310,000 | ||
| Previous Owner | $245,000 | ||
| Previous Owner | $90,000 | ||
| Previous Owner | $75,000 |
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 |
|---|---|---|---|---|---|
| 11/20/2018 11/20/18 | Sold | $2,050,000 | -8.9% | $452 / Sq Ft | |
| 09/05/2018 09/05/18 | Price Changed | $2,250,000 | -4.9% | $496 / Sq Ft | |
| 08/07/2018 08/07/18 | For Sale | $2,365,000 | +240.3% | $521 / Sq Ft | |
| 07/22/2013 07/22/13 | Sold | $695,000 | -7.3% | $153 / Sq Ft | View Prior Sale |
| 05/14/2013 05/14/13 | Pending | -- | -- | -- | |
| 02/25/2013 02/25/13 | For Sale | $750,000 | -- | $165 / 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 |
|---|---|---|---|---|
| 2025 | $31,174 | $2,286,808 | $1,600,767 | $686,041 |
| 2024 | $29,586 | $2,241,970 | $1,569,380 | $672,590 |
| 2023 | $29,076 | $2,198,010 | $1,538,608 | $659,402 |
| 2022 | $27,292 | $2,154,913 | $1,508,440 | $646,473 |
| 2021 | $26,743 | $2,112,661 | $1,478,863 | $633,798 |
| 2019 | $26,360 | $2,050,800 | $1,435,000 | $615,800 |
| 2018 | $10,485 | $752,967 | $524,895 | $228,072 |
| 2016 | $9,659 | $722,961 | $504,513 | $218,448 |
| 2015 | $9,293 | $712,102 | $496,935 | $215,167 |
| 2014 | $9,277 | $698,154 | $487,201 | $210,953 |
Source: Public Records
Agents Affiliated with this Home
-
-
Jason Phipps
J
Buyer's Agent in 2018
Jason Phipps
Realatrends
(949) 494-8830
6 Total Sales
-
Damien Breaux
Seller's Agent in 2013
Damien Breaux
Morgan Skenderian
(949) 584-0503
2 in this area
44 Total Sales
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: OC18191822
Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.
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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