NOT LISTED FOR SALE

Estimated Value: $703,000 - $789,000

4 Beds
2 Baths
1,428 Sq Ft
$525/Sq Ft Est. Value

Last Sold August 30, 2013

Last sale price $325,000 $228 Per Sq Ft

Est. 131% increase in value since last sale

Current estimated payment $4,357/month

7 Days on Market

Highlights

  • 0.18 Acre Lot
  • Spanish Architecture
  • Two Homes on a Lot
  • Long Beach Polytechnic High School Rated A
  • No HOA
  • 2 Car Garage

About This Home

As of August 2013

Two seperate houses on one lot. 1117 & 1119 E. 11th St present an excellent investment opportunity to live in one unit while gaining rental income and tax benefits from the second unit. Of course extended families can occupy both units and maintain privacy. Both units feature 2 bedrooms and 1 bath situated on a large lot. There is lots of yard area, front side and rear. Two car detached garage. This Spanish stucco buildings have been remodeled and are in good condition. Located in the Poly High School area, not far from Franklin Middle School and steps close to Lincoln Elementary School. Also close to parks, shopping and public transportation.

Last Agent to Sell the Property

Maurice Anderson

Anderson Realty License #00529607 Listed on: 07/18/2013

Last Buyer's Agent

Maurice Anderson

Anderson Realty License #00529607 Listed on: 07/18/2013

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1922 | Remodeled

Lot Details

  • 7,798 Sq Ft Lot
  • Lot Dimensions are 57.49x135
  • No Common Walls
  • South Facing Home
  • Wood Fence
  • Density is up to 1 Unit/Acre

Parking

  • 2 Car Garage
  • Parking Available
  • Rear-Facing Garage

Home Design

  • Spanish Architecture
  • Entry on the 1st floor
  • Flat Roof Shape
  • Raised Foundation
  • Spanish Tile Roof
  • Stucco

Interior Spaces

  • 1,428 Sq Ft Home
  • 1-Story Property

Bedrooms and Bathrooms

  • 4 Bedrooms
  • 2 Bathrooms

Home Security

  • Carbon Monoxide Detectors
  • Fire and Smoke Detector

Utilities

  • Wall Furnace
  • Sewer Paid

Additional Features

  • Exterior Lighting
  • Two Homes on a Lot
  • Urban Location

Listing and Financial Details

  • Tenant pays for cable TV, electricity, gas, repairs
  • Legal Lot and Block 10 / 4
  • Assessor Parcel Number 7274007027

Community Details

Overview

  • No Home Owners Association
  • 2 Buildings
  • 2 Units

Building Details

  • 2 Separate Electric Meters
  • 2 Separate Gas Meters
  • 1 Separate Water Meter
  • Gardener Expense $600
  • Insurance Expense $700
  • Maintenance Expense $1,596
  • Trash Expense $300
  • Water Sewer Expense $600
  • New Taxes Expense $3,987
  • Gross Income $2,660
  • Net Operating Income $26,527

Property Details

Home Type

Multi-Family

Year Built

Built in 1922 | Remodeled

Lot Details

0

Parking

2

Listing Details

  • Assessments: No
  • Improvements Percent: 37.00
  • Property Attached: No
  • Security: Carbon Monoxide Detector(s), Smoke Detector(s)
  • Subdivision Name Other: Downtown (DT)
  • View: No
  • Water Sewer Expenses: 600.00
  • Zoning: LBR4R
  • Architectural Style: Spanish
  • Property Condition: Updated/Remodeled
  • Property Type: Residential Income
  • Gardener Expense: 600.00
  • Parcel Number: 7274007027
  • Year Built: 1922
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Fireplace: No
  • Stories: 1
  • Common Walls: No Common Walls
  • Entry Level: 1
  • Levels: One
  • Price Per Square Foot: 227.59

Exterior Features

  • Direction Faces: South
  • Foundation: Raised
  • Other Structures: Two On A Lot
  • Fencing: Wood
  • Builder Name: Unknown
  • Pool Private: No
  • Roof: Flat, Spanish Tile
  • Spa: No
  • Construction Materials: Stucco

Garage/Parking

  • Garage Spaces: 2.00
  • Parking: Yes
  • Parking Features: Garage, Garage Faces Rear
  • Total Parking Spaces: 2.00

Utilities

  • Utilities: Sewer Connected
  • Heating: Yes
  • Heating Type: Wall Furnace
  • Sewer: Sewer Paid
  • Trash Expense: 300.00
  • Water Source: Public

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Community Features: Curbs, Sidewalks, Street Lights, Urban

Lot Info

  • Land Value Percent: 63.00
  • Lot Features: 0-1 Unit/Acre
  • Lot Size: 57.49x135
  • Lot Size Sq Ft: 7798.00
  • Lot Size Acres: 0.1790

Rental Info

  • Tenant Pays: Cable TV, Electricity, Gas, Repairs

Multi Family

  • Average2 Bed Area: 714
  • Gross Income: 2660.00
  • Gross Multiplier: 12.03
  • Gross Scheduled Income: 30360.00
  • Gross Spendable Income: 26527.00
  • Insurance Expense: 700.00
  • Lot Size Area: 7798.0000 Square Feet
  • Maintenance Expense: 1596.00
  • Maintenance Percent: 5.00
  • Net Operating Income: 26527.00
  • Number Of Separate Electric Meters: 2
  • Number Of Separate Gas Meters: 2
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 2
  • Operating Expense: 2556.00
  • Operating Expense Percent: 9.00
  • Rent Control: No
  • Total Actual Rent: 2530.00
  • Vacancy Allowance Rate: 5.00

Tax Info

  • New Taxes Expense: 3987.00
  • Tax Area: 5-500
  • Tax Block: 4
  • Tax Lot: 10
  • Tax Rate: 1.25
  • Tax Year: 2012

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jul 18, 2013
Closed on
Jul 30, 2013
Sold by
Thornton Gary W and Thornton Jeffrey H
Bought by
Nikea Investments Llc
Seller's Agent
Maurice Anderson
Anderson Realty
Buyer's Agent
Maurice Anderson
Anderson Realty
List Price
$319,000
Sold Price
$325,000
Premium/Discount to List
$6,000
1.88%
Current Estimated Value
$749,465

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$424,465
Avg. Annual Appreciation
7.01%

Purchase Details

Closed on
Sep 28, 2006
Sold by
The Veronesa C Thornton Living Trust
Bought by
Thornton Gary W and Thornton Jeffrey H

Purchase Details

Closed on
Dec 12, 2000
Sold by
Thornton Veronesa
Bought by
Thornton Veronesa C and The Veronesa C Thornton Living
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
Nikea Investments Llc $325,003 Chicago Title Company
Thornton Gary W -- None Available
Thornton Veronesa C -- --
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
08/30/2013 08/30/13 Sold $325,000 +1.9% $228 / Sq Ft
07/25/2013 07/25/13 Pending -- -- --
07/18/2013 07/18/13 For Sale $319,000 -- $223 / 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 $5,305 $398,394 $269,684 $128,710
2024 $5,305 $390,584 $264,397 $126,187
2023 $5,215 $382,926 $259,213 $123,713
2022 $4,902 $375,419 $254,131 $121,288
2021 $4,800 $368,059 $249,149 $118,910
2020 $4,788 $364,286 $246,595 $117,691
2019 $4,732 $357,144 $241,760 $115,384
2018 $4,567 $350,142 $237,020 $113,122
2016 $4,203 $336,547 $227,817 $108,730
2015 $4,037 $331,492 $224,395 $107,097
2014 $4,018 $325,000 $220,000 $105,000
Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PW13141780

California Regional Multiple Listing Service (CRMLS)

APN: 7274-007-027