Seller's Agent in 2019
Dan Lewin
Younglewin Advisors, Inc.
(310) 720-7939
22 Total Sales
1135 E 12th St Long Beach, CA 90813
Saint Mary's Neighborhood
1
Bed
1
Bath
3,792
Sq Ft
6,749
Sq Ft Lot
About This Home
As of August 2019We are pleased to present to market 1135 East 12th Street, a 12-unit apartment building in Long Beach, California. This offering presents a great opportunity for an investor to acquire a partially renovated asset with solid in-place cash flow and potential upside in a strong rental market.
The property consists of a 1916 construction building with 12 one-bedroom units that range from 300 to 428 square feet. Eight units have been renovated, another unit has new flooring, and all units have security gates,. The property also features on-site laundry and nine parking spaces plus two motorcycle spaces.
In addition to the renovated units, 1135 East 12th Street boasts numerous other recent improvements, including: a new roof that was installed in November 2018, a gas barbecue, earthquake bolt down and auto gas shut off, and a new valve set in the front yard that is ready for a drought-tolerant irrigation setup. As a result of the units’ smaller sizes, a new investor may enjoy low recurring utility expenses and low turnover costs.
The property is located near the intersection of Alamitos Avenue and Anaheim Street, across from Grant Church, and just steps from Lincoln Elementary School. The property’s location conveniently near dining, retail and grocery options have earned it a great WalkScore of 89. This area is a strong rental market where over 85 percent of housing units within one mile are renter-occupied.
Last Agent to Sell the Property
Younglewin Advisors, Inc. License #01932742 Listed on: 06/19/2019
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1916
Lot Details
- 6,749 Sq Ft Lot
- Two or More Common Walls
- Density is 11-15 Units/Acre
Home Design
- Property Attached
Interior Spaces
- 3,792 Sq Ft Home
- 2-Story Property
- Laundry Room
Bedrooms and Bathrooms
- 1 Bedroom
- 1 Bathroom
Location
- Urban Location
Listing and Financial Details
- Legal Lot and Block 006 / 2
- Tax Tract Number 22
- Assessor Parcel Number 7274006022
Community Details
Building Details
- 1 Separate Electric Meter
- 1 Separate Gas Meter
- 1 Separate Water Meter
- Electric Expense $5,280
- Insurance Expense $1,712
- Professional Management Expense $6,556
- Trash Expense $1,000
- Water Sewer Expense $4,000
- New Taxes Expense $24,605
- Operating Expense $56,187
- Gross Income $163,912
- Net Operating Income $107,725
Additional Features
- 12 Units
- Laundry Facilities
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Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 08/29/2019 08/29/19 | Sold | $1,825,000 | -1.4% | $481 / Sq Ft |
| 07/28/2019 07/28/19 | Pending | -- | -- | -- |
| 07/08/2019 07/08/19 | Price Changed | $1,850,000 | -2.6% | $488 / Sq Ft |
| 06/19/2019 06/19/19 | For Sale | $1,900,000 | -- | $501 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
Tax History Compared to Growth
Agents Affiliated with this Home
-
Dan Lewin
-
Shane Young
Seller Co-Listing Agent in 2019
Shane Young
Younglewin Advisors, Inc.
(562) 556-1118
28 Total Sales
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: PW19146053
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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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