J
Seller's Agent in 2018
Jack Levis
CBRE Inc.
1140 Orange Ave Long Beach, CA 90813
Cambodia Town NeighborhoodEstimated Value: $2,846,886 - $3,014,000
15
Beds
12
Baths
7,059
Sq Ft
$415/Sq Ft
Est. Value
Highlights
- 0.28 Acre Lot
- No HOA
- 4-minute walk to Douglas Macarthur Park
- Long Beach Polytechnic High School Rated A
- Laundry Room
About This Home
As of December 2018pleased to present 1140-48 Orange Ave, a well maintained 8-unit apartment building located in non-rent controlled Long Beach, CA. This is a fantastic value-add opportunity as current rents significantly below market. The property consists of two separate structures; the front built in 1939 and the back built in 1990. The property features 7,059 rent-able square feet and a great unit mix of four 2-bed/2-bath units, three 2-bed/1-bath units, and one 1-bed/1-bath unit. Additionally, there are nine open parking spaces, four garages, and laundry on-site.
Last Agent to Sell the Property
Jack Levis
CBRE Inc. License #01886278 Listed on: 10/15/2018
Last Buyer's Agent
Jack Levis
CBRE Inc. License #01886278 Listed on: 10/15/2018
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1990
Lot Details
- 0.28 Acre Lot
- Two or More Common Walls
- Density is up to 1 Unit/Acre
Parking
- 9 Open Parking Spaces
- 4 Car Garage
Home Design
- 7,059 Sq Ft Home
- Property Attached
Bedrooms and Bathrooms
- 15 Bedrooms
- 12 Bathrooms
Laundry
- Laundry Room
Outdoor Features
- Exterior Lighting
- Rain Gutters
Listing and Financial Details
- Tax Lot 6
- Tax Tract Number 576402
- Assessor Parcel Number 7267003009
Community Details
Overview
- No Home Owners Association
- 3 Buildings
- 8 Units
Amenities
- Laundry Facilities
Building Details
- 9 Separate Electric Meters
- 9 Separate Gas Meters
- 1 Separate Water Meter
- Electric Expense $491
- Gardener Expense $550
- Insurance Expense $2,031
- Maintenance Expense $5,200
- Professional Management Expense $6,295
- Water Sewer Expense $1,726
- New Taxes Expense $25,722
- Operating Expense $44,468
- Gross Income $129,720
- Net Operating Income $81,437
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
Oct 15, 2018
Closed on
Oct 26, 2018
Sold by
Isom La Monte H and The La Monte H Isom And Cynthi
Bought by
1140 Orange Ave Llc
Seller's Agent
Jack Levis
CBRE Inc.
Buyer's Agent
Jack Levis
CBRE Inc.
List Price
$2,000,000
Sold Price
$1,850,000
Premium/Discount to List
-$150,000
-7.5%
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
$1,080,443
Avg. Annual Appreciation
6.69%
Original Mortgage
$1,300,000
Interest Rate
4.9%
Mortgage Type
Commercial
Purchase Details
Closed on
May 5, 2008
Sold by
Isom La Monte H
Bought by
Isom La Monte H and La Monte H & Cynthia K Isom 19
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Home Values in the Area
Average Home Value in this Area
Purchase History
| Date | Buyer | Sale Price | Title Company |
|---|---|---|---|
| 1140 Orange Ave Llc | $1,850,000 | First American Title Company | |
| Isom La Monte H | -- | None Available |
Source: Public Records
Mortgage History
| Date | Status | Borrower | Loan Amount |
|---|---|---|---|
| Previous Owner | 1140 Orange Ave Llc | $1,300,000 |
Source: Public Records
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 12/21/2018 12/21/18 | Sold | $1,850,000 | -7.5% | $262 / Sq Ft |
| 10/25/2018 10/25/18 | Pending | -- | -- | -- |
| 10/15/2018 10/15/18 | For Sale | $2,000,000 | -- | $283 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
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 | $26,961 | $2,063,706 | $1,444,595 | $619,111 |
| 2024 | $26,961 | $2,023,242 | $1,416,270 | $606,972 |
| 2023 | $26,506 | $1,983,571 | $1,388,500 | $595,071 |
| 2022 | $24,899 | $1,944,678 | $1,361,275 | $583,403 |
| 2021 | $24,386 | $1,906,548 | $1,334,584 | $571,964 |
| 2019 | $24,040 | $1,850,000 | $1,295,000 | $555,000 |
| 2018 | $5,636 | $353,485 | $31,651 | $321,834 |
| 2016 | $5,163 | $339,761 | $30,423 | $309,338 |
| 2015 | $4,985 | $334,659 | $29,967 | $304,692 |
| 2014 | $4,999 | $328,104 | $29,380 | $298,724 |
Source: Public Records
Agents Affiliated with this Home
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: SB18250301
APN: 7267-003-009
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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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