NOT LISTED FOR SALE
4 Beds
8 Baths
4,310 Sq Ft
1948 Built

Last Sold May 17, 2018

Last sale price $1,165,000 $270 Per Sq Ft

14 Days on Market

About This Home

As of May 2018

Always full, excellent income generating property in popular area of Long Beach. Property consists of 4 - 1 bedroom, 1 bath units and 4 well sized studios. Well located with easy access to all amenities. Well maintained, ready for new owner to benefit from huge upside in rents.

Last Agent to Sell the Property

Michael Brinkman

Coastline Realty License #00926365 Listed on: 04/03/2018

Last Buyer's Agent

Jon Swire

The Agency License #01336277

The Agency

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1948

Lot Details

  • 4,973 Sq Ft Lot
  • Two or More Common Walls
  • Density is up to 1 Unit/Acre

Home Design

  • Property Attached

Interior Spaces

  • 4,310 Sq Ft Home
  • 2-Story Property

Bedrooms and Bathrooms

  • 4 Bedrooms
  • 8 Bathrooms

Laundry

  • Laundry Room
  • Leased Washer and Dryer

Utilities

  • Sewer Paid

Listing and Financial Details

  • Tenant pays for electricity, gas
  • Tax Lot 18
  • Tax Tract Number 5758
  • Assessor Parcel Number 7271019036

Community Details

Building Details

  • 8 Leased Units
  • 8 Separate Electric Meters
  • 8 Separate Gas Meters
  • 1 Separate Water Meter
  • Electric Expense $420
  • Fuel Expense $1,800
  • Insurance Expense $1,819
  • Trash Expense $300
  • Water Sewer Expense $5,400
  • New Taxes Expense $12,650
  • Operating Expense $22,969
  • Gross Income $75,900
  • Net Operating Income $74,400

Additional Features

  • 8 Units
  • Laundry Facilities

Property Details

Home Type

Multi-Family

Year Built

Built in 1948

Lot Details

0

Listing Details

  • Property Attached: Yes
  • Subdivision Name Other: Downtown (DT)
  • Water Sewer Expenses: 5400.00
  • Zoning: LBPD10
  • Property Type: Residential Income
  • Parcel Number: 7271019036
  • Year Built: 1948
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Stories: 2
  • Common Walls: 2+ Common Walls
  • Levels: Two
  • Price Per Square Foot: 270.30

Exterior Features

  • Pool Private: No

Utilities

  • Laundry: Yes
  • Laundry Features: Community
  • Sewer: Sewer Paid
  • Trash Expense: 300.00
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No
  • Community Features: Sidewalks

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: 0-1 Unit/Acre
  • Lot Size Sq Ft: 4973.00

Rental Info

  • Tenant Pays: Electricity, Gas

Multi Family

  • Electric Expense: 420.00
  • Fuel Expense: 1800.00
  • Gross Income: 75900.00
  • Gross Scheduled Income: 74400.00
  • Insurance Expense: 1819.00
  • Laundry Equipment Own Lease: Lease
  • Laundry Income: 1500.00
  • Net Operating Income: 74400.00
  • Number Of Separate Electric Meters: 8
  • Number Of Separate Gas Meters: 8
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 8
  • Number Of Units Total: 8
  • Operating Expense: 22969.00
  • Rent Control: No
  • Total Actual Rent: 6200.00
  • Total Expenses: 22969.00

Tax Info

  • New Taxes Expense: 12650.00
  • Tax Census Tract: 5758.01
  • Tax Lot: 18
  • Tax Tract Number: 5758.1

Range of Values:

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Value Increase
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Percent Increase
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Adjusted for Inflation
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Average Value
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List Price
Sold Price
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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
05/17/2018 05/17/18 Sold $1,165,000 +1.3% $270 / Sq Ft
04/03/2018 04/03/18 For Sale $1,150,000 -- $267 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

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 $18,365 $1,325,566 $927,328 $398,238
2024 $17,555 $1,299,576 $909,146 $390,430
2023 $17,247 $1,274,095 $891,320 $382,775
2022 $16,199 $1,249,114 $873,844 $375,270
2021 $15,856 $1,224,622 $856,710 $367,912
2020 $15,815 $1,213,226 $847,926 $365,300
2019 $15,629 $1,189,460 $831,300 $358,160
2018 $8,703 $625,931 $257,405 $368,526
2016 $8,010 $600,511 $247,410 $353,101
2015 $7,706 $591,492 $243,694 $347,798
2014 $7,691 $579,907 $238,921 $340,986
Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: NP18074164

California Regional Multiple Listing Service (CRMLS)