NOT LISTED FOR SALE
3 Beds
2 Baths
6,377 Sq Ft
6,633 Sq Ft Lot

Sale Details

Date Sold: April 9, 2019

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

26 Days on Market

Highlights

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

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 in unit
  • 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

6,633 Sq Ft Lot

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

Ownership History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Name Owned For Owner Type

Purchase Details

Closed on
Feb 5, 2019
Sold by
Bought by

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,000,000
Interest Rate
0.043%
Mortgage Type
Construction
Source: Public Records
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Purchase History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Buyer Sale Price Title Company
$1,625,000 Old Republic Title Company
Source: Public Records

Mortgage History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Status Borrower Loan Amount
Previous Owner $1,000,000
Source: Public Records

Property History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Event Price List to Sale Price per Sq Ft
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

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

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 $24,769 $1,812,714 $1,115,517 $697,197
2024 $23,674 $1,777,172 $1,093,645 $683,527
2023 $23,269 $1,742,326 $1,072,201 $670,125
2022 $21,852 $1,708,164 $1,051,178 $656,986
2021 $21,395 $1,674,671 $1,030,567 $644,104
2019 $4,646 $266,064 $32,722 $233,342
2018 $4,430 $260,848 $32,081 $228,767
2016 $4,055 $250,721 $30,836 $219,885
2015 $3,920 $246,956 $30,373 $216,583
2014 $3,940 $242,120 $29,779 $212,341
Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PW19003490

California Regional Multiple Listing Service (CRMLS)
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