NOT LISTED FOR SALE

1134 Raymond Ave Long Beach, CA 90804

Cambodia Town Neighborhood
10 Beds
7 Baths
5,429 Sq Ft
6,506 Sq Ft Lot

Last Sold November 13, 2015

Last sale price $1,110,000 $204 Per Sq Ft

56 Days on Market

About This Home

As of November 2015

Built in 1959, the two-story building was constructed on a raised foundation with wood framing and stucco paneling.
The property has a total of seven units that consists of four one-bedroom/one-bath units and three two-bedroom/onebath
units. The property and all of the units are well-maintained, with the property boasting a new roof in 2011. In
addition to four single-car garages, the property also features an income-generating on-site laundry room and the tenants
have access to a scenic outside common area.

All units are separately metered for gas and electricity to keep expenses at a
minimum. There was an automatic sprinkler system with two electric timers installed in April 2015.
With an excellent unit mix and the opportunity to add immediate value to the property, 1134 Raymond Avenue is a
great opportunity for any investor.

Investment Highlights
First Time Offered for Sale in Over 30 Years
Desirable Eastside Long Beach Rental Market
True Value-Add Opportunity-Immediate Upside in Rents
Achievable
New Roof in 2011
Well-Maintained Units and Building
Separately Metered for Gas and Electricity
On-Site Laundry
New Automatic Sprinkler System Installed in April 2015

Last Agent to Sell the Property

Steve Bogoyevac

Steven M. Bogoyevac, Broker License #01332755 Listed on: 08/24/2015

Last Buyer's Agent

Elaine Hutchison

John Read Realty License #00278514

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1959

Lot Details

  • 6,506 Sq Ft Lot
  • Two or More Common Walls

Parking

  • 4 Car Garage

Home Design

  • 5,429 Sq Ft Home
  • Property Attached

Bedrooms and Bathrooms

  • 10 Bedrooms
  • 7 Bathrooms

Location

  • Urban Location

Listing and Financial Details

  • Tax Lot 008
  • Tax Tract Number 31
  • Assessor Parcel Number 7260031008

Community Details

Overview

  • 7 Units

Building Details

  • 7 Leased Units
  • 7 Separate Electric Meters
  • 7 Separate Gas Meters
  • 1 Separate Water Meter
  • Insurance Expense $3,800
  • New Taxes Expense $13,742
  • Gross Income $6,215
  • Net Operating Income $46,025

Property Details

Home Type

Multi-Family

Year Built

Built in 1959

Lot Details

0

Parking

4

Listing Details

  • CapRate: 4.15
  • Property Attached: Yes
  • Road Frontage Type: City Street
  • Subdivision Name Other: Downtown (DT)
  • Property Type: Residential Income
  • Parcel Number: 7260031008
  • Year Built: 1959
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Common Walls: 2+ Common Walls
  • Price Per Square Foot: 204.46

Exterior Features

  • Pool Private: No

Garage/Parking

  • Garage Spaces: 4.00
  • Total Parking Spaces: 4.00

Utilities

  • Utilities: Sewer Connected
  • Water Source: Public

Condo/Co-op/Association

  • Community Features: Urban

Lot Info

  • Lot Size Sq Ft: 6506.00
  • Price Per Lot Square Foot: 170.61
  • Lot Size Acres: 0.1490

Multi Family

  • Gross Income: 6215.00
  • Gross Multiplier: 14.88
  • Gross Scheduled Income: 76584.00
  • Insurance Expense: 3800.00
  • Lot Size Area: 6506.0000 Square Feet
  • Net Operating Income: 46025.00
  • Number Of Separate Electric Meters: 7
  • Number Of Separate Gas Meters: 7
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 7
  • Number Of Units Total: 7
  • Operating Expense: 28322.00
  • Rent Control: No
  • Total Actual Rent: 6215.00

Tax Info

  • New Taxes Expense: 13742.00
  • Tax Lot: 008
  • Tax Tract Number: 031

Range of Values:

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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

Property History

Date Event Price Change Sq Ft Price
11/13/2015 11/13/15 Sold $1,110,000 0.0% $204 / Sq Ft
10/19/2015 10/19/15 Pending -- -- --
08/24/2015 08/24/15 For Sale $1,110,000 -- $204 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • S

    Seller's Agent in 2015

    Steve Bogoyevac

    Steven M. Bogoyevac, Broker

    (562) 257-1200

    1 in this area

    96 Total Sales

    Section Image

  • E

    Buyer's Agent in 2015

    Elaine Hutchison

    John Read Realty

    (562) 597-5581

    Section Image
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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PW15187983

California Regional Multiple Listing Service (CRMLS)

California Los Angeles County Long Beach 90804 Cambodia Town

1134 Raymond Ave, Long Beach, CA

This home is located at 1134 Raymond Ave, Long Beach, CA 90804 since 24 August 2015. This property was built in 1959. 1134 Raymond Ave is a home located in Los Angeles County with nearby schools including Willard Elementary School, Woodrow Wilson High School, and Creative Arts School.

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California Regional Multiple Listing Service (CRMLS) The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.

Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information

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