Seller's Agent in 2021
Chris van Vuuren
Lyon Stahl Investment Real Estate, Inc.
(714) 655-0098
1 in this area
22 Total Sales
1118 E 17th St Long Beach, CA 90813
Central NeighborhoodEstimated Value: $1,487,000 - $1,916,000
12
Beds
8
Baths
4,408
Sq Ft
$380/Sq Ft
Est. Value
Highlights
- Laundry Room
- Rectangular Lot
- 4-minute walk to Rosa Parks Park
- Long Beach Polytechnic High School Rated A
About This Home
As of September 20211118 E 17th Street, a four-unit apartment building in Long Beach. This is the highest CAP rate 4 plex on the market in the city. The vacant unit, paired with historically low interest rates, provides a unique opportunity to owner-occupy and have the other tenants pay your mortgage, all expenses and still yield a NET POSITIVE RETURN!!!
The four-unit building is comprised of four (4) three-bed/one-and-a-half-bath two-story townhouse style units and was built in 1970. The units all have in-unit laundry, private patios and dual pane windows. There are 5 parking spaces available for tenants and a storage room that is currently used by the owner. The units are separately metered for gas and electricity and the owner recently had the water submetered to minimize landlord expenses. The complex also offers secure gated entry from both the front and rear of the parcel.
1118 E 17th Street provides an exciting opportunity to owner-occupy and/or acquire a positive cash flowing asset in a city that has and will see the steepest trajectory of growth in Southern California. While currently positioned at a current 12.79 GRM and 5.85% CAP rate, the subject property has potential upside to a 11.60 GRM and 6.63% CAP rate.
Last Agent to Sell the Property
Lyon Stahl Investment Real Estate, Inc. License #02060007 Listed on: 07/07/2021
Last Buyer's Agent
Lyon Stahl Investment Real Estate, Inc. License #02060007 Listed on: 07/07/2021
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $20,349
Year Built
- Built in 1970
Lot Details
- 6,534 Sq Ft Lot
- Two or More Common Walls
- Rectangular Lot
Home Design
- Property Attached
Interior Spaces
- 4,408 Sq Ft Home
- 2-Story Property
- Laundry Room
Bedrooms and Bathrooms
- 12 Bedrooms
- 8 Bathrooms
Parking
- 5 Open Parking Spaces
- 5 Parking Spaces
Utilities
- Septic Type Unknown
Listing and Financial Details
- Tax Lot 39
- Assessor Parcel Number 7268023039
Community Details
Overview
- 4 Units
- Poly High Subdivision
Building Details
- 4 Separate Electric Meters
- 4 Separate Gas Meters
- 4 Separate Water Meters
- Operating Expense $26,016
- Gross Income $117,276
- Net Operating Income $87,742
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
Jul 7, 2021
Closed on
Sep 22, 2021
Sold by
Keroles Nancy Samir
Bought by
Keroles Nancy Samir and Keroles Nancy Samir
Seller's Agent
Chris van Vuuren
Lyon Stahl Investment Real Estate, Inc.
Buyer's Agent
Chris van Vuuren
Lyon Stahl Investment Real Estate, Inc.
List Price
$1,500,000
Sold Price
$1,500,000
Current Estimated Value
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$174,968
Avg. Annual Appreciation
2.45%
Original Mortgage
$810,000
Outstanding Balance
$626,591
Interest Rate
2.1%
Mortgage Type
New Conventional
Estimated Equity
$1,022,975
Purchase Details
Closed on
Nov 1, 2017
Sold by
Chau Yann Toy
Bought by
Chau Yann Toy and The Yann Toy Chau Separate Pro
Purchase Details
Closed on
Jan 10, 2002
Sold by
Ing Ngeth
Bought by
Chau Yann Toy
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$180,000
Interest Rate
6.78%
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Home Values in the Area
Average Home Value in this Area
Purchase History
| Date | Buyer | Sale Price | Title Company |
|---|---|---|---|
| Keroles Nancy Samir | -- | Accommodation | |
| Keroles Nancy Samir | $1,500,000 | Western Resources Title | |
| Chau Yann Toy | -- | None Available | |
| Chau Yann Toy | $338,000 | Commonwealth Land Title Co |
Source: Public Records
Mortgage History
| Date | Status | Borrower | Loan Amount |
|---|---|---|---|
| Open | Keroles Nancy Samir | $810,000 | |
| Previous Owner | Chau Yann Toy | $180,000 | |
| Previous Owner | Stocking Bosco B | $75,000 |
Source: Public Records
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 09/27/2021 09/27/21 | Sold | $1,500,000 | 0.0% | $340 / Sq Ft |
| 07/19/2021 07/19/21 | Pending | -- | -- | -- |
| 07/07/2021 07/07/21 | For Sale | $1,500,000 | -- | $340 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
Tax History Compared to Growth
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 | $20,349 | $1,591,811 | $742,845 | $848,966 |
| 2024 | $20,349 | $1,560,600 | $728,280 | $832,320 |
| 2023 | $20,010 | $1,530,000 | $714,000 | $816,000 |
| 2022 | $18,783 | $1,500,000 | $700,000 | $800,000 |
| 2021 | $6,385 | $461,282 | $204,711 | $256,571 |
| 2019 | $6,295 | $447,602 | $198,640 | $248,962 |
| 2018 | $6,041 | $438,827 | $194,746 | $244,081 |
| 2017 | $5,978 | $430,224 | $190,928 | $239,296 |
| 2016 | $5,539 | $421,789 | $187,185 | $234,604 |
| 2015 | $5,329 | $415,455 | $184,374 | $231,081 |
| 2014 | $5,311 | $407,318 | $180,763 | $226,555 |
Source: Public Records
Agents Affiliated with this Home
-
Chris van Vuuren
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: SB21147642
APN: 7268-023-039
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