Dennis Fulmore
Dennis Wayne Group
(424) 688-7260
20 Total Sales
1 in Willmore
$345,000 Price
1146 Magnolia Ave Long Beach, CA 90813
Willmore Neighborhood
14
Beds
10
Baths
22,998
Sq Ft
0.42
Acre Lot
Highlights
- 0.42 Acre Lot
- No HOA
- 19 Car Garage
- Traditional Architecture
- Tile Flooring
- 5-minute walk to 14th Street Park
About This Home
As of October 20141146-1152 Magnolia Ave, Long Beach. This is a meticulously maintained 32 unit building in a great rental area of LB. 2 buildings on 2 parcels (1146 Magnolia = 7272004010, 1152 Magnolia = 7272004009). A great mix of 24 - 1 Bed/1 Bath units and 8 - 2 Bed /1 Bath units. Buildings are very sizable (22,998 sq ft). A large lot (18,197 sq ft) offers tenants a spacious courtyard and garage/parking area. All electric building - individually metered and each unit has it's own water heater (keeps expenses down). Milgard dual pane windows throughout building. 2 laundry facilities w/ seller's own machines. 19 enclosed garages = extra income. There is definite room to raise rents - NO rent control in LB. Please call for further income and expense information on this well managed building. This is a great opportunity for the savvy Long Beach investor to add an incredible building to your portfolio! Income is actual and expenses are estimated. Proforma rent for 2 bedrooms is $1200. Proforma rent for 1 bedrooms is $950. Total monthly Proforma income = $33,700. Annual Proforma income = $404,400/yr - GRM = 11.37 - Proforma Cap = 6.40%
Last Agent to Sell the Property
Realty One Group Homelink License #01360644 Listed on: 05/31/2014
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Property Details
Home Type
- Multi-Family
Year Built
- Built in 1963
Lot Details
- 18,197 Sq Ft Lot
- Property fronts an alley
- Two or More Common Walls
Parking
- 19 Car Garage
- Parking Available
Home Design
- Traditional Architecture
- Property Attached
- Entry on the 2nd floor
Interior Spaces
- 22,998 Sq Ft Home
- 3-Story Property
- Free-Standing Range
Flooring
- Carpet
- Tile
Bedrooms and Bathrooms
- 14 Bedrooms
- 10 Bathrooms
Utilities
- Radiant Heating System
Listing and Financial Details
- Tenant pays for electricity
- Legal Lot and Block 5 / 6
- Tax Tract Number 57582
- Assessor Parcel Number 7272004010
Community Details
Overview
- No Home Owners Association
- 2 Buildings
- 32 Units
Amenities
- Laundry Facilities
Building Details
- 32 Leased Units
- 34 Separate Electric Meters
- 2 Separate Water Meters
- Gross Income $30,310
- Net Operating Income $264,606
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
Sep 12, 2006
Sold by
Bought by
Purchase Details
Closed on
May 26, 2006
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
$2,250,000
Interest Rate
6.57%
Mortgage Type
Commercial
Purchase Details
Closed on
Jun 18, 1998
Sold by
Bought by
Purchase Details
Closed on
Jan 31, 1997
Sold by
Bought by
Home Values in the Area
Average Home Value in this Area
Agents Specializing in Willmore, CA
-
Dennis Fulmore
-
Leslie Stonick
Leslie Stonick
Compass
(424) 381-0410
72 Total Sales
1 in Willmore
$785,000 Price
-
Marcus Ibrahim
Marcus Ibrahim
eXp Realty of Greater Los Angeles
(781) 476-7479
90 Total Sales
2 in Willmore
$374K - $640K Price Range
-
Ramon Sanchez
Ramon Sanchez
Century 21 Allstars
(562) 684-6070
171 Total Sales
2 in Willmore
$445,000 Price Range
-
Jason Lowery
Jason Lowery
Compass
(747) 229-0866
88 Total Sales
1 in Willmore
$525,000 Price
-
Tyler Rogina
Tyler Rogina
Compass
(424) 417-6460
120 Total Sales
2 in Willmore
$1,200,000 Price Range
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 |
|---|---|---|---|
| $3,825,000 | Commonwealth Land Title Co | ||
| $3,000,000 | Commonwealth Land Title Co | ||
| -- | Commonwealth Title Co | ||
| $898,000 | Benefit Land 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 |
|---|---|---|---|
| Open | $500,000 | ||
| Previous Owner | $2,250,000 |
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 |
|---|---|---|---|---|
| 10/29/2014 10/29/14 | Sold | $4,170,000 | -11.3% | $181 / Sq Ft |
| 10/23/2014 10/23/14 | Pending | -- | -- | -- |
| 05/31/2014 05/31/14 | For Sale | $4,700,000 | -- | $204 / 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 | $35,142 | $2,505,849 | $1,754,697 | $751,152 |
| 2024 | $33,568 | $2,456,716 | $1,720,292 | $736,424 |
| 2023 | $32,982 | $2,408,546 | $1,686,561 | $721,985 |
| 2022 | $30,990 | $2,361,321 | $1,653,492 | $707,829 |
| 2021 | $30,311 | $2,315,021 | $1,621,071 | $693,950 |
| 2019 | $29,877 | $2,252,098 | $1,572,990 | $679,108 |
| 2018 | $29,095 | $2,208,053 | $1,542,148 | $665,905 |
| 2016 | $26,751 | $2,116,796 | $1,482,265 | $634,531 |
| 2015 | $25,701 | $2,085,000 | $1,460,000 | $625,000 |
| 2014 | $26,102 | $2,090,239 | $1,071,076 | $1,019,163 |
Source: Public Records
Agents Affiliated with this Home
-
Julie Hughes
Seller's Agent in 2014
Julie Hughes
Realty One Group Homelink
(714) 393-5055
21 Total Sales
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: PW14113072
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.
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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