NOT LISTED FOR SALE

1141 Pine Ave Long Beach, CA 90813

Saint Mary's Neighborhood
-- Bed
10 Baths
8,424 Sq Ft
6,002 Sq Ft Lot

Last Sold November 26, 2014

Last sale price $1,310,000 $156 Per Sq Ft

57 Days on Market

About This Home

As of November 2014

This 15 Unit mixed use investment property consists of 13 residential units and 2 commercial units. The building is separately metered for gas and electric, has approximately 8,424 rentable Sq. Ft. and situated on a 6,002 Sq. Ft. Lot. This property is located in the great rental market of Long Beach and provides a significant cash-on-cash return from day 1! This deal also has great assumable financing at 3.5% fixed through July of 2018 (assumption is not required to purchase the property). This opportunity will not last long!

Last Agent to Sell the Property

Brett Lyon

Lyon Stahl Investment Real Estate, Inc. License #01717818 Listed on: 06/30/2014

Lyon Stahl Investment Real Estate, Inc.

Co-Listed By

Woody Stahl

Lyon Stahl Investment Real Est License #01399621

Last Buyer's Agent

Brett Lyon

Lyon Stahl Investment Real Estate, Inc. License #01717818 Listed on: 06/30/2014

Lyon Stahl Investment Real Estate, Inc.

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1922

Lot Details

  • 6,002 Sq Ft Lot
  • Two or More Common Walls
  • Density is 11-15 Units/Acre

Home Design

  • 8,424 Sq Ft Home
  • Property Attached

Additional Features

  • 10 Bathrooms
  • Septic Type Unknown

Listing and Financial Details

  • Tax Lot 182
  • Assessor Parcel Number 7273005008

Community Details

Overview

  • 15 Units
  • Alamitos Beach Subdivision

Building Details

  • 15 Leased Units
  • 15 Separate Electric Meters
  • 15 Separate Gas Meters
  • 1 Separate Water Meter
  • Electric Expense $12,000
  • Gardener Expense $600
  • Insurance Expense $3,370
  • Maintenance Expense $7,175
  • Pest Control $600
  • Professional Management Expense $7,175
  • New Taxes Expense $17,188
  • Operating Expense $49,517
  • Gross Income $12,133
  • Net Operating Income $88,800

Property Details

Home Type

Multi-Family

Year Built

Built in 1922

Lot Details

0

Listing Details

  • CapRate: 6.75
  • Professional Management Expense: 7175.00
  • Property Attached: Yes
  • Subdivision Name Other: Alamitos Beach (AB)
  • Property Type: Residential Income
  • Gardener Expense: 600.00
  • Parcel Number: 7273005008
  • Year Built: 1922
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Common Walls: 2+ Common Walls
  • Price Per Square Foot: 155.51

Exterior Features

  • Pool Private: No

Utilities

  • Pest Control Expense: 600.00
  • Sewer: Unknown
  • Water Source: Public

Condo/Co-op/Association

  • Community Features: Sidewalks

Lot Info

  • Additional Parcels: No
  • Lot Features: 11-15 Units/Acre
  • Lot Size Sq Ft: 6002.00
  • Lot Size Acres: 0.1380

Rental Info

  • Garage Rental Rate: 125.00

Multi Family

  • Electric Expense: 12000.00
  • Garage Income: 375.00
  • Gross Income: 12133.00
  • Gross Multiplier: 9.10
  • Gross Operating Income: 138316.00
  • Gross Scheduled Income: 145596.00
  • Insurance Expense: 3370.00
  • Laundry Income: 175.00
  • Lot Size Area: 6002.0000 Square Feet
  • Maintenance Expense: 7175.00
  • Maintenance Percent: 5.00
  • Net Operating Income: 88800.00
  • Number Of Rented Garages: 3
  • Number Of Separate Electric Meters: 15
  • Number Of Separate Gas Meters: 15
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 15
  • Number Of Units Total: 15
  • Operating Expense: 49517.00
  • Operating Expense Percent: 34.00
  • Rent Control: No
  • Total Actual Rent: 11583.00
  • Total Expenses: 49517.00
  • Vacancy Allowance Rate: 5.00

Tax Info

  • New Taxes Expense: 17188.00
  • Tax Lot: 182
  • Tax Year: 2013

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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List Price
Sold Price
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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 Prior Sale
11/26/2014 11/26/14 Sold $1,310,000 -4.7% $156 / Sq Ft
08/26/2014 08/26/14 Pending -- -- --
06/30/2014 06/30/14 For Sale $1,375,000 +14.1% $163 / Sq Ft
07/26/2013 07/26/13 Sold $1,205,000 +4.8% $143 / Sq Ft View Prior Sale
04/15/2013 04/15/13 Pending -- -- --
03/25/2013 03/25/13 For Sale $1,150,000 -- $137 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

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 $21,749 $1,574,414 $487,945 $1,086,469
2024 $21,749 $1,543,544 $478,378 $1,065,166
2023 $21,355 $1,513,280 $468,999 $1,044,281
2022 $20,077 $1,483,608 $459,803 $1,023,805
2021 $19,614 $1,454,519 $450,788 $1,003,731
2019 $19,331 $1,411,378 $437,418 $973,960
2018 $18,833 $1,383,705 $428,842 $954,863
2016 $17,326 $1,329,977 $412,191 $917,786
2015 $15,748 $1,229,075 $382,492 $846,583
2014 -- $1,205,000 $375,000 $830,000
Source: Public Records

Agents Affiliated with this Home

  • Brett Lyon

    Seller's Agent in 2014

    Brett Lyon

    Lyon Stahl Investment Real Estate, Inc.

    (310) 780-1899

    1 in this area

    144 Total Sales

    Brett Lyon
    Section Image
  • Woody Stahl

    Seller Co-Listing Agent in 2014

    Woody Stahl

    Lyon Stahl Investment Real Est

    (310) 710-3829

    152 Total Sales

    Woody Stahl
    Section Image

  • B

    Seller's Agent in 2013

    Brian Shanedling

    Long Beach Property Management

    (562) 735-3064

    Brian Shanedling
    Section Image
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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: SB14137277

California Regional Multiple Listing Service (CRMLS)
California Los Angeles County Long Beach 90813 Saint Mary's

1141 Pine Ave, Long Beach, CA

Not Listed for Sale

MultiFamily

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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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