NOT LISTED FOR SALE
13 Beds
7 Baths
5,332 Sq Ft
9,093 Sq Ft Lot

Last Sold June 25, 2014

Last sale price $785,000 $147 Per Sq Ft

4 Days on Market

Highlights

  • No HOA
  • Wood Fence
  • Back Yard
  • Laundry Room

About This Home

As of June 2014

Charming 6 unit apartment building located in a nice North Long Beach community in an area with predominantly single family homes. Building comprised of one 4 bedroom/2bath, 0ne 1 bedroom/1 bath, and four 2 bedroom/one bath, along with three garages. Our comparable market analysis indicates that ACTUAL RENTS ARE APPROXIMATELY 38% UNDER MARKET. The buildings are separately metered for both gas and electricity. This is an excellent opportunity to acquire a well maintained apartment building in a strong rental market. Rents are actual, expenses are estimated.

Last Agent to Sell the Property

Kurt Wood

Belmont Brokerage & Mgmt. INC. License #00452182 Listed on: 05/08/2014

Last Buyer's Agent

Camille Jasmin

Keller Williams Palos Verdes License #01163896

Keller Williams Palos Verdes

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1961

Lot Details

  • 9,093 Sq Ft Lot
  • Property fronts an alley
  • No Common Walls
  • Wood Fence
  • Back Yard

Parking

  • 3 Car Garage
  • Parking Available
  • Assigned Parking

Home Design

  • 5,332 Sq Ft Home
  • Composition Roof
  • Stucco

Bedrooms and Bathrooms

  • 13 Bedrooms
  • 7 Bathrooms

Laundry

  • Laundry Room
  • Leased Washer and Dryer

Listing and Financial Details

  • Tenant pays for cable TV, electricity, gas
  • Tax Lot 158
  • Assessor Parcel Number 7124007002

Community Details

Overview

  • No Home Owners Association
  • 2 Buildings
  • 6 Units

Amenities

  • Laundry Facilities

Building Details

  • 7 Separate Electric Meters
  • 7 Separate Gas Meters
  • 1 Separate Water Meter
  • Gross Income $5,845
  • Net Operating Income $47,092

Property Details

Home Type

Multi-Family

Year Built

Built in 1961

Lot Details

0

Parking

3

Listing Details

  • Assessments: Yes
  • CapRate: 6.00
  • Property Attached: No
  • Road Frontage Type: Alley
  • Road Surface Type: Alley Paved
  • Subdivision Name Other: North Long Beach (NLB)
  • View: No
  • Property Type: Residential Income
  • Parcel Number: 7124007002
  • Year Built: 1961
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Common Walls: No Common Walls
  • Levels: Two
  • Price Per Square Foot: 147.22

Exterior Features

  • Fencing: Wood
  • Pool Private: No
  • Roof: Composition
  • Spa: No
  • Construction Materials: Stucco

Garage/Parking

  • Garage Spaces: 3.00
  • Parking: Yes
  • Parking Features: Assigned
  • Total Parking Spaces: 3.00

Utilities

  • Utilities: Sewer Available
  • Laundry: Yes
  • Laundry Features: Common Area
  • Water Source: Public

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Community Features: Sidewalks

Lot Info

  • Lot Features: Back Yard
  • Lot Size Sq Ft: 9093.00
  • Lot Size Acres: 0.2090

Rental Info

  • Tenant Pays: Cable TV, Electricity, Gas

Multi Family

  • Gross Income: 5845.00
  • Gross Multiplier: 11.00
  • Gross Scheduled Income: 70140.00
  • Laundry Equipment Own Lease: Lease
  • Lot Size Area: 9093.0000 Square Feet
  • Net Operating Income: 47092.00
  • Number Of Rented Garages: 1
  • Number Of Separate Electric Meters: 7
  • Number Of Separate Gas Meters: 7
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 6
  • Operating Expense: 21043.00
  • Operating Expense Percent: 30.00
  • Rent Control: No
  • Total Actual Rent: 5815.00
  • Vacancy Allowance Rate: 4.00

Tax Info

  • Tax Lot: 158
  • Tax Tract Number: .
  • Tax Year: 2013
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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
06/25/2014 06/25/14 Sold $785,000 +1.3% $147 / Sq Ft
05/12/2014 05/12/14 Pending -- -- --
05/08/2014 05/08/14 For Sale $775,000 -- $145 / 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 $13,043 $962,290 $386,140 $576,150
2024 $13,043 $943,422 $378,569 $564,853
2023 $12,819 $924,925 $371,147 $553,778
2022 $12,054 $906,790 $363,870 $542,920
2021 $11,788 $889,011 $356,736 $532,275
2019 $11,620 $862,645 $346,156 $516,489
2018 $11,239 $845,731 $339,369 $506,362
2016 $10,327 $812,892 $326,192 $486,700
2015 $9,925 $800,683 $321,293 $479,390
2014 $8,263 $642,905 $401,816 $241,089
Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PW14095404

California Regional Multiple Listing Service (CRMLS)