Seller's Agent in 2023
Tyler Leeson
Marcus & Millichap RE Invest
(949) 419-3200
2 in this area
155 Total Sales
1117 E Carson St Long Beach, CA 90807
Bixby Knolls Neighborhood
3
Beds
2
Baths
6,937
Sq Ft
9,148
Sq Ft Lot
Highlights
- Lawn
- Longfellow Elementary School Rated A-
- Laundry Room
About This Home
As of January 20231117 East Carson Street is an 8-unit multifamily investment property located in Long Beach, California. 1117 East Carson Street offers an attractive mix of one and two-bedroom floor plans with amenities including a private lounge area for tenants, a quite central courtyard, on-site laundry, screen doors, dual-pane windows, and garage parking. This extremely well-maintained opportunity has recently underwent substantial renovations to its major systems that include a newer roof (2019), newer windows, electrical meters, gas meters, and in-unit plumbing (as needed). Majority of the units have been upgraded over the years and feature remodeled kitchens and bathrooms. Select units have newer wood flooring. Long Beach’s strong rental metrics, including a 2021 vacancy rate of just 1.8 percent and year-over-year rent growth of 12.1 percent, are evidence of the substantial demand for rental units in the area. With current rents below market rates, 1117 East Carson Street represents an attractive value-add opportunity for a new owner. 1117 East Carson Street is situated in the desirable Bixby Knolls neighborhood of Long Beach, which primarily features single-family homes. Residents enjoy convenient access to everyday needs as well as a plethora of retail, dining, and entertainment options at the recently constructed Long Beach Exchange just 1.85 miles away. Additionally, the property benefits from its location just over 1.25 miles north of Interstate 405, connecting residents to employment hubs throughout Los Angeles and Orange Counties.
Last Agent to Sell the Property
Marcus & Millichap RE Invest License #01451551 Listed on: 09/28/2022
Last Buyer's Agent
Marcus & Millichap RE Invest License #01451551 Listed on: 09/28/2022
Property Details
Home Type
- Apartment
Year Built
- Built in 1948
Lot Details
- 9,148 Sq Ft Lot
- No Common Walls
- Lawn
Parking
- 5 Car Garage
Interior Spaces
- 6,937 Sq Ft Home
- 2-Story Property
- Laundry Room
Bedrooms and Bathrooms
- 3 Bedrooms
- 2 Bathrooms
Listing and Financial Details
- Tax Lot 91
- Tax Tract Number 13289
- Assessor Parcel Number 7138012028
- $1,516 per year additional tax assessments
Community Details
Building Details
- 8 Leased Units
- Rent Control
- 8 Separate Electric Meters
- 8 Separate Gas Meters
- 1 Separate Water Meter
- Electric Expense $1,100
- Fuel Expense $1,100
- Insurance Expense $2,671
- Maintenance Expense $6,000
- Other Expense $8,516
- Professional Management Expense $7,233
- Trash Expense $1,100
- Water Sewer Expense $1,100
- New Taxes Expense $29,777
- Operating Expense $58,597
- Gross Income $149,090
- Net Operating Income $86,065
Additional Features
- 8 Units
- Laundry Facilities
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Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 01/24/2023 01/24/23 | Sold | $2,400,000 | -4.0% | $346 / Sq Ft |
| 11/11/2022 11/11/22 | Pending | -- | -- | -- |
| 09/28/2022 09/28/22 | For Sale | $2,500,000 | -- | $360 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
Tax History Compared to Growth
Agents Affiliated with this Home
-
Tyler Leeson
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: OC22211290
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