NOT LISTED FOR SALE
13 Beds
8 Baths
8,591 Sq Ft
9,005 Sq Ft Lot

Last Sold November 12, 2015

Last sale price $1,700,000 $198 Per Sq Ft

15 Days on Market

Highlights

  • 0.21 Acre Lot
  • Wood Flooring
  • Private Yard
  • Long Beach Polytechnic High School Rated A
  • Spanish Architecture
  • No HOA

About This Home

As of November 2015

Classic Spanish 8 unit Building. This timeless 1920's architecture is still inviting for the investor as well as the young millennials looking to rent unique properties. Some apts feature coved ceilings and arches, and hardwood floors. All apartments are spacious and unique. Compare the almost 8600 sqft with other 8 unit buildings to see the difference. The building does have deferred maintenance but is selling less than $175 p/ sqft. Located on oversized lot: 9005 sqft with large grassy yard that all the apts view. Also, this is 2 blocks from the popular Art District. Priced below market price.

Last Agent to Sell the Property

Howard Wood

Vista Sotheby’s International Realty License #00477685 Listed on: 07/25/2015

Vista Sotheby’s International Realty

Last Buyer's Agent

Austin Rogers

COAR Advisors License #01883791

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1927

Lot Details

  • 9,005 Sq Ft Lot
  • Two or More Common Walls
  • Landscaped
  • Paved or Partially Paved Lot
  • Level Lot
  • Private Yard
  • Lawn
  • Garden
  • Front Yard

Parking

  • 5 Car Garage
  • Parking Available
  • Assigned Parking

Home Design

  • Spanish Architecture
  • Property Attached
  • Flat Roof Shape
  • Raised Foundation
  • Spanish Tile Roof

Interior Spaces

  • 8,591 Sq Ft Home
  • 2-Story Property
  • Skylights
  • Wood Frame Window
  • Living Room
  • Laundry Room

Kitchen

  • Gas Cooktop
  • Free-Standing Range
  • Tile Countertops

Flooring

  • Wood
  • Carpet
  • Laminate
  • Vinyl

Bedrooms and Bathrooms

  • 13 Bedrooms
  • 8 Bathrooms

Additional Features

  • Living Room Balcony
  • Wall Furnace

Listing and Financial Details

  • Tenant pays for cable TV, electricity, gas
  • Tax Lot 4
  • Tax Tract Number 133
  • Assessor Parcel Number 7275004003

Community Details

Overview

  • No Home Owners Association
  • 8 Units

Amenities

  • Laundry Facilities

Building Details

  • 8 Leased Units
  • 8 Separate Electric Meters
  • 8 Separate Gas Meters
  • 1 Separate Water Meter
  • Electric Expense $480
  • Gardener Expense $1,200
  • Insurance Expense $1,777
  • Professional Management Expense $4,220
  • Trash Expense $503
  • Water Sewer Expense $2,000
  • New Taxes Expense $18,000
  • Gross Income $9,405
  • Net Operating Income $83,099

Property Details

Home Type

Multi-Family

Year Built

Built in 1927

Lot Details

0

Parking

5

Listing Details

  • Professional Management Expense: 4220.00
  • Property Attached: Yes
  • Subdivision Name Other: Alamitos Beach (AB)
  • View: No
  • Water Sewer Expenses: 2000.00
  • Architectural Style: Spanish
  • Property Type: Residential Income
  • Gardener Expense: 1200.00
  • Parcel Number: 7275004003
  • Year Built: 1927
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Fireplace: No
  • Interior Amenities: Balcony, Living Room Balcony, Tile Counters, Unfurnished
  • Stories: 2
  • Common Walls: 2+ Common Walls
  • Flooring: Laminate, Carpet, Vinyl, Wood
  • Appliances: Yes
  • Levels: Two
  • Price Per Square Foot: 197.88
  • Room Type: Living Room
  • Window Features: Skylight(s), Wood Frames

Exterior Features

  • Foundation: Raised
  • Pool Private: No
  • Roof: Flat, Spanish Tile
  • Spa: No

Garage/Parking

  • Garage Spaces: 5.00
  • Parking: Yes
  • Parking Features: Assigned, Garage
  • Total Parking Spaces: 10.00

Utilities

  • Utilities: Natural Gas Available, Sewer Connected, Water Connected
  • Heating: Yes
  • Laundry: Yes
  • Appliances: Free-Standing Range, Gas Range, Gas Cooktop
  • Electric: Electricity - On Property
  • Heating Type: Wall Furnace
  • Laundry Features: Community, Individual Room
  • Trash Expense: 503.00
  • Water Source: Public

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Community Features: Curbs, Sidewalks

Lot Info

  • Lot Features: Front Yard, Garden, Level, Lawn, Landscaped, Lot 6500-9999, Level with Street, Paved, Yard
  • Lot Size Sq Ft: 9005.00
  • Price Per Lot Square Foot: 188.78
  • Lot Size Acres: 0.2070

Rental Info

  • Tenant Pays: Cable TV, Electricity, Gas

Multi Family

  • Electric Expense: 480.00
  • Gross Income: 9405.00
  • Gross Multiplier: 13.30
  • Gross Scheduled Income: 112860.00
  • Insurance Expense: 1777.00
  • Lot Size Area: 9005.0000 Square Feet
  • Net Operating Income: 83099.00
  • Number Of Separate Electric Meters: 8
  • Number Of Separate Gas Meters: 8
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 8
  • Number Of Units Total: 8
  • Operating Expense: 29761.00
  • Rent Control: No
  • Total Actual Rent: 9405.00

Tax Info

  • New Taxes Expense: 18000.00
  • Tax Area: 5500
  • Tax Lot: 4
  • Tax Tract Number: 133

Range of Values:

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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 List to Sale Price per Sq Ft
11/12/2015 11/12/15 Sold $1,700,000 +13.3% $198 / Sq Ft
07/25/2015 07/25/15 Pending -- -- --
07/10/2015 07/10/15 For Sale $1,500,000 -- $175 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: SB15150586

California Regional Multiple Listing Service (CRMLS)