NOT LISTED FOR SALE

1112 E Artesia Blvd Long Beach, CA 90805

Houghton Park Neighborhood
3 Beds
7 Baths
4,201 Sq Ft
7,486 Sq Ft Lot

Last Sold June 22, 2017

Last sale price $803,250 $191 Per Sq Ft

112 Days on Market

About This Home

As of June 2017

PRIME 6 UNIT INVESTMENT OPPORTUNITY IN LONG BEACH! 1110 E. ARTESIA AND 1112 E ARTESIA IS FOR SALE 2 PARCELS SIDE BY SIDE. THE TOAL SQ. FT FOR BOTH PARCELS IS 4201 SQ FT ON A 7486 LOT. THESE 2 PARCELS MUST BE SOLD TOGETHER AND SHARE A COMMON DRIVEWAY. 5 COMMERCIAL SPACES CURRENTLY ALL TENANT OCCUPIED ON MONTH-MONTH LEASES. EACH COMMERCIAL SPACE HAS 1 BATHROOM INSIDE. 1 SINGLE FAMILY HOUSE IN BACK CONSISTING OF 3 BEDROOM/2BATHROOM COMPLETELY REMODELED WITH WASHER & DRYER INSIDE! PARKING FOR UP TO 8 CARS. 3 HUGE STORAGE SHEDS. ALL SEPARATELY METERED FOR ELECTRIC & GAS. SELLER PAYS WATER ONLY. TONS OF UPSIDE IN RENTS. LONG TERM TENANTS. EXTERIOR OF THE PROPERTY WAS RECENTLY PAINTED. NO DEFERRED MAINTENANCE. PRIDE OF OWNERSHIP. NO RENT CONTROL IN LONG BEACH. SELLER WILL POSSIBLY CARRY THE NOTE.

Last Agent to Sell the Property

Kristina Moore

The Moore Group License #01926377 Listed on: 02/13/2017

Last Buyer's Agent

NoEmail NoEmail

NONMEMBER MRML

NONMEMBER MRML

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1956

Lot Details

  • 7,486 Sq Ft Lot
  • No Common Walls
  • Density is 6-10 Units/Acre

Home Design

  • 4,201 Sq Ft Home

Bedrooms and Bathrooms

  • 3 Bedrooms
  • 7 Bathrooms

Laundry

  • Laundry Room

Parking

  • 8 Parking Spaces
  • 8 Carport Spaces

Listing and Financial Details

  • Tenant pays for electricity, trash collection
  • Tax Lot 3
  • Tax Tract Number 7155
  • Assessor Parcel Number 7115012003

Community Details

Overview

  • 3 Buildings
  • 6 Units

Building Details

  • 6 Leased Units
  • 7 Separate Electric Meters
  • 7 Separate Gas Meters
  • 1 Separate Water Meter
  • Insurance Expense $1,500
  • Water Sewer Expense $3,000
  • New Taxes Expense $9,392
  • Gross Income $63,000
  • Net Operating Income $409,650

Property Details

Home Type

Multi-Family

Year Built

Built in 1956

Lot Details

0

Listing Details

  • CapRate: 4.40
  • Property Attached: No
  • Subdivision Name Other: North Long Beach (NLB)
  • Water Sewer Expenses: 3000.00
  • Zoning: LBCCA
  • Property Type: Residential Income
  • Parcel Number: 7115012003
  • Year Built: 1956
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Common Walls: No Common Walls
  • Price Per Square Foot: 191.20

Exterior Features

  • Pool Private: No

Garage/Parking

  • Carport Spaces: 8.00
  • Total Parking Spaces: 8.00

Utilities

  • Laundry: Yes
  • Laundry Features: Inside
  • Sewer: Public Sewer
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No
  • Community Features: Sidewalks

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: 6-10 Units/Acre
  • Lot Size Sq Ft: 7486.00

Rental Info

  • Tenant Pays: Electricity, Trash Collection

Multi Family

  • Gross Income: 63000.00
  • Gross Multiplier: 14.00
  • Gross Scheduled Income: 63000.00
  • Insurance Expense: 1500.00
  • Net Operating Income: 409650.00
  • Number Of Separate Electric Meters: 7
  • Number Of Separate Gas Meters: 7
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 6
  • Number Of Units Total: 6
  • Operating Expense: 22050.00
  • Rent Control: No
  • Total Actual Rent: 5250.00

Tax Info

  • New Taxes Expense: 9392.00
  • Tax Census Tract: 5705.01
  • Tax Lot: 3
  • Tax Tract Number: 7155

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Feb 13, 2017
Closed on
May 31, 2017
Sold by
Olguin Gustavo
Bought by
Bassin Ned and Bassin Rosalind S
Seller's Agent
Kristina Moore
The Moore Group
Buyer's Agent
NoEmail NoEmail
NONMEMBER MRML
List Price
$869,250
Sold Price
$803,250
Premium/Discount to List
-$66,000
-7.59%

Purchase Details

Closed on
Mar 14, 2017
Sold by
Olguin Gustavo
Bought by
Olguin Gustavo and Olguin Ma Estela

Purchase Details

Closed on
Jan 18, 2013
Sold by
The Gustavo Olguin Living Trust
Bought by
Timer Investment Llc
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
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

Purchase History

Date Buyer Sale Price Title Company
Bassin Ned $803,500 North American Title Company
Olguin Gustavo -- North American Title Company
Olguin Gustavo -- North American Title Company
Timer Investment Llc -- Accommodation
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
06/22/2017 06/22/17 Sold $803,250 -5.4% $191 / Sq Ft
06/05/2017 06/05/17 Pending -- -- --
05/11/2017 05/11/17 Price Changed $849,250 -2.3% $202 / Sq Ft
03/31/2017 03/31/17 For Sale $869,250 0.0% $207 / Sq Ft
03/21/2017 03/21/17 Pending -- -- --
03/08/2017 03/08/17 Price Changed $869,250 -7.5% $207 / Sq Ft
02/13/2017 02/13/17 For Sale $939,250 -- $224 / 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 $6,884 $487,440 $348,173 $139,267
2024 $6,884 $477,884 $341,347 $136,537
2023 $6,759 $468,514 $334,654 $133,860
2022 $6,315 $459,329 $328,093 $131,236
2021 $6,193 $450,323 $321,660 $128,663
2019 $6,096 $436,968 $312,120 $124,848
2018 $5,879 $428,400 $306,000 $122,400
2016 $3,251 $226,769 $164,356 $62,413
2015 $3,139 $223,364 $161,888 $61,476
2014 $3,122 $218,989 $158,717 $60,272
Source: Public Records

Agents Affiliated with this Home

  • Kristina Moore

    Seller's Agent in 2017

    Kristina Moore

    The Moore Group

    (714) 809-7608

    26 Total Sales

    Kristina Moore
    Section Image

  • N

    Buyer's Agent in 2017

    NoEmail NoEmail

    NONMEMBER MRML

    (646) 541-2551

    6,215 Total Sales

    NoEmail NoEmail
    Section Image
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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PW17029920

California Regional Multiple Listing Service (CRMLS)

APN: 7115-012-003

California Los Angeles County Long Beach 90805 Houghton Park

1112 E Artesia Blvd, Long Beach, CA

Not Listed for Sale

MultiFamily

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