NOT LISTED FOR SALE
Studio
8 Baths
4,550 Sq Ft
3,222 Sq Ft Lot

Last Sold April 12, 2018

Last sale price $1,490,000 $327 Per Sq Ft

101 Days on Market

Highlights

  • 3,222 Sq Ft lot
  • Long Beach Polytechnic High School Rated A
  • Laundry Room

About This Home

As of April 2018

Located just 3 short blocks from the ocean in trendy Alamitos Beach, this Bread and Butter building seldom has a vacancy. All units have extensive updating including beautiful wood look flooring, updated baths and kitchens including subway tile and many other upgrades. Building also has extensive upgrades including ,new electric panels, foundation has been earthquake strapped bolted and retrofitted, new copper plumbing through lots of the building, new water heaters and more. AMAZING LOCATION--walk to the beach, bike path, shopping, dining, AMID A VIBRANT AND GROWING AREA . The street Broadway is to go through a 4.5 million dollar street improvement, that will feature walking and bike paths, encourage more businesses to the area and will surely increase the value and popularity of this already great area.

Last Agent to Sell the Property

Michael Barber

Coldwell Banker Realty License #01332558 Listed on: 12/01/2017

Coldwell Banker Realty

Last Buyer's Agent

Jon Swire

The Agency License #01336277

The Agency

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1929

Lot Details

  • 3,222 Sq Ft Lot
  • 1 Common Wall
  • Density is up to 1 Unit/Acre

Home Design

  • Property Attached

Interior Spaces

  • 8 Bathrooms
  • 4,550 Sq Ft Home
  • 2-Story Property
  • Laundry Room

Outdoor Features

  • Exterior Lighting

Listing and Financial Details

  • Assessor Parcel Number 7275004027

Community Details

Building Details

  • 8 Leased Units
  • Electric Expense $3,960
  • Insurance Expense $2,388
  • Professional Management Expense $3,000
  • Water Sewer Expense $3,360
  • New Taxes Expense $18,750
  • Operating Expense $12,708
  • Gross Income $101,760
  • Net Operating Income $70,302

Additional Features

  • 8 Units
  • Laundry Facilities

Property Details

Home Type

Multi-Family

Year Built

Built in 1929

Lot Details

0

Listing Details

  • CapRate: 4.46
  • Professional Management Expense: 3000.00
  • Property Attached: Yes
  • Subdivision Name Other: Alamitos Beach (AB)
  • Water Sewer Expenses: 3360.00
  • Zoning: LBR4R
  • Property Type: Residential Income
  • Parcel Number: 7275004027
  • Year Built: 1929
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Stories: 2
  • Common Walls: 1 Common Wall
  • Levels: Two
  • Price Per Square Foot: 327.47

Exterior Features

  • Pool Private: No

Utilities

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

Condo/Co-op/Association

  • Senior Community: No
  • Community Features: Street Lights

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: 0-1 Unit/Acre
  • Lot Size Sq Ft: 3222.00

Multi Family

  • Average Studio Area: 570 Square Feet
  • Electric Expense: 3960.00
  • Gross Income: 101760.00
  • Gross Scheduled Income: 101760.00
  • Insurance Expense: 2388.00
  • Laundry Income: 360.00
  • Net Operating Income: 70302.00
  • Number Of Units Leased: 8
  • Number Of Units Total: 8
  • Operating Expense: 31458.00
  • Rent Control: No
  • Total Expenses: 12708.00

Tax Info

  • New Taxes Expense: 18750.00
  • Tax Census Tract: 5766.01
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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
04/12/2018 04/12/18 Sold $1,490,000 -0.7% $327 / Sq Ft
03/12/2018 03/12/18 Pending -- -- --
12/01/2017 12/01/17 For Sale $1,500,000 +27.4% $330 / Sq Ft
07/15/2016 07/15/16 Sold $1,177,500 -7.6% $259 / Sq Ft View Prior Sale
05/18/2016 05/18/16 Pending -- -- --
02/22/2016 02/22/16 For Sale $1,275,000 +57.4% $280 / Sq Ft
07/28/2014 07/28/14 Sold $810,000 -6.4% $178 / Sq Ft View Prior Sale
05/30/2014 05/30/14 Pending -- -- --
01/31/2014 01/31/14 For Sale $865,000 -- $190 / 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 $22,021 $1,695,361 $1,069,557 $625,804
2024 $22,021 $1,662,120 $1,048,586 $613,534
2023 $21,640 $1,629,530 $1,028,026 $601,504
2022 $20,312 $1,597,579 $1,007,869 $589,710
2021 $19,893 $1,566,255 $988,107 $578,148
2019 $19,607 $1,520,840 $958,800 $562,040
2018 $15,656 $1,202,090 $841,500 $360,590
2016 $10,568 $822,352 $619,302 $203,050
2015 $10,157 $810,000 $610,000 $200,000
2014 $2,218 $99,358 $23,378 $75,980
Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PW17267363

California Regional Multiple Listing Service (CRMLS)