NOT LISTED FOR SALE

1141 Molino Ave Long Beach, CA 90804

Rose Park Neighborhood
3 Beds
2 Baths
6,377 Sq Ft
6,633 Sq Ft Lot

Last Sold April 09, 2019

Last sale price $1,625,000 $255 Per Sq Ft

26 Days on Market

Highlights

  • Gated Community
  • No HOA
  • More Than Two Accessible Exits
  • Woodrow Wilson High School Rated A
  • Laundry Room
  • Wrought Iron Fence

About This Home

As of April 2019

Amazing 8 unit Apartment Building in the PRIME Eastside/Circle area of Long Beach, close to trendy Retro Row. First time on the market in over 40 years! One owner that exudes pride of ownership. 60's construction that consists of 8 large units, with upside potential. Unit mix consists of 6- 2 bed/1 bath and 2 1 bed/1 bath with 4 garages in the alley which is additional rent. All tenancies are month to month, and are long term residents. There is NO RENT CONTROL in Long Beach!

Last Agent to Sell the Property

Sandra Feliciano

KSREINV Inc. License #01205494 Listed on: 01/07/2019

Last Buyer's Agent

Kevin Hooks

KSREINV Inc. License #01471039

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1960

Lot Details

  • 6,633 Sq Ft Lot
  • Two or More Common Walls
  • Wrought Iron Fence
  • Wood Fence
  • Chain Link Fence
  • Density is 6-10 Units/Acre

Parking

  • 4 Car Garage

Home Design

  • Apartment

Interior Spaces

  • 6,377 Sq Ft Home
  • 2-Story Property

Kitchen

  • Gas Oven
  • Gas Cooktop

Flooring

  • Carpet
  • Vinyl

Bedrooms and Bathrooms

  • 3 Bedrooms
  • 2 Bathrooms

Laundry

  • Laundry Room
  • Leased Washer and Dryer

Home Security

  • Carbon Monoxide Detectors
  • Fire and Smoke Detector

Outdoor Features

  • Exterior Lighting
  • Rain Gutters

Utilities

  • Heating System Uses Natural Gas
  • Wall Furnace

Additional Features

  • More Than Two Accessible Exits
  • Urban Location

Listing and Financial Details

  • Tenant pays for electricity, gas, parking fee, trash collection
  • Legal Lot and Block 4 / B
  • Tax Tract Number 4
  • Assessor Parcel Number 7260029004

Community Details

Overview

  • No Home Owners Association
  • 8 Units

Building Details

  • 8 Leased Units
  • 8 Separate Electric Meters
  • 8 Separate Gas Meters
  • Electric Expense $750
  • Gardener Expense $900
  • Insurance Expense $3,073
  • Professional Management Expense $7,128
  • Trash Expense $672
  • Water Sewer Expense $6,540
  • New Taxes Expense $22,500
  • Operating Expense $43,956
  • Gross Income $3,600
  • Net Operating Income $71,280

Additional Features

  • Laundry Facilities
  • Gated Community

Property Details

Home Type

Multi-Family

Year Built

Built in 1960

Lot Details

0

Parking

4

Listing Details

  • CapRate: 3.85
  • Professional Management Expense: 7128.00
  • Property Attached: Yes
  • Security: Carbon Monoxide Detector(s), Gated Community, Smoke Detector(s)
  • Subdivision Name Other: Eastside (ES)
  • Water Sewer Expenses: 6540.00
  • Zoning: LBR2N
  • Property Sub Type: Apartment
  • Property Type: Residential Income
  • Gardener Expense: 900.00
  • Parcel Number: 7260029004
  • Year Built: 1960
  • Special Features: None

Interior Features

  • Stories: 2
  • Common Walls: 2+ Common Walls
  • Flooring: Carpet, Vinyl
  • Accessibility Features: 2+ Access Exits
  • Appliances: Yes
  • Levels: Two
  • Price Per Square Foot: 254.82

Exterior Features

  • Fence: Yes
  • Fencing: Chain Link, Wood, Wrought Iron
  • Pool Private: No

Garage/Parking

  • Garage Spaces: 4.00
  • Total Parking Spaces: 4.00

Utilities

  • Heating: Yes
  • Laundry: Yes
  • Appliances: Gas Oven, Gas Cooktop
  • Heating Type: Wall Furnace, Natural Gas
  • Laundry Features: Community
  • Sewer: Public Sewer
  • Trash Expense: 672.00
  • Water Source: Public

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Community Features: Gutters, Sidewalks, Street Lights, Urban

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: 6-10 Units/Acre
  • Lot Size Sq Ft: 6633.00
  • Lot Size Acres: 0.1523

Rental Info

  • Garage Rental Rate: 50.00
  • Tenant Pays: Electricity, Gas, Parking Fee, Trash Collection

Multi Family

  • Electric Expense: 750.00
  • Garage Income: 200.00
  • Gross Income: 3600.00
  • Gross Multiplier: 15.57
  • Gross Operating Income: 115236.00
  • Gross Scheduled Income: 118800.00
  • Insurance Expense: 3073.00
  • Laundry Equipment Own Lease: Lease
  • Laundry Income: 1200.00
  • Lot Size Area: 6633.0000 Square Feet
  • Net Operating Income: 71280.00
  • Number Of Rented Garages: 4
  • Number Of Separate Electric Meters: 8
  • Number Of Separate Gas Meters: 8
  • Number Of Units Leased: 8
  • Number Of Units Total: 8
  • Operating Expense: 43956.00
  • Rent Control: No
  • Total Actual Rent: 9900.00
  • Total Expenses: 43956.00
  • Vacancy Allowance Rate: 3.00

Tax Info

  • New Taxes Expense: 22500.00
  • Tax Block: B
  • Tax Census Tract: 5769.01
  • Tax Lot: 4
  • Tax Tract Number: LOT 4

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 Change Sq Ft Price
04/09/2019 04/09/19 Sold $1,625,000 -12.2% $255 / Sq Ft
01/07/2019 01/07/19 For Sale $1,850,000 -- $290 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Sandra Feliciano

    Seller's Agent in 2019

    Sandra Feliciano

    KSREINV Inc.

    (562) 481-4819

    1 in this area

    17 Total Sales

    Sandra Feliciano
    Section Image

  • K

    Buyer's Agent in 2019

    Kevin Hooks

    KSREINV Inc.

    (661) 538-2828

    1 in this area

    8 Total Sales

    Kevin Hooks
    Section Image
See All Agents

Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PW19003490

California Regional Multiple Listing Service (CRMLS)
California Los Angeles County Long Beach 90804 Rose Park

1141 Molino Ave, Long Beach, CA

This home is located at 1141 Molino Ave, Long Beach, CA 90804 since 07 January 2019. This property was built in 1960. 1141 Molino Ave is a home located in Los Angeles County with nearby schools including Willard Elementary School, Woodrow Wilson High School, and Creative Arts School.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

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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