Seller's Agent in 2021
Robert Stepp
Keller Williams Realty Downey
(310) 463-2916
4 in this area
76 Total Sales
1148 Stanley Ave Long Beach, CA 90804
Rose Park Neighborhood
2
Beds
2
Baths
6,240
Sq Ft
6,627
Sq Ft Lot
About This Home
As of August 20211148 Stanley is an 8-unit property built in 1986, featuring all spacious two-bedroom / two-bath units with large private balconies.
Extensive building renovations include a modern new wood entry treatment, new landscaping with automatic drip irrigation and low voltage lighting. The secured garage offers ample parking (12 spaces) and new high-intensity LED lighting. Seven of the eight units have undergone complete remodels which include new flooring, lighting, interior doors and hardware, brand new kitchens and bathrooms and modern fixtures throughout. Immediate increased income opportunities may be realized through RUBS and parking. Pending City approval, enclosed garages and/or an Additional Dwelling Unit (ADU) may provide further additional income in the longer term. Located in the popular Eastside neighborhood, just a 10-minute drive to Downtown Long Beach, the building has a Walk Score of 91, making it extremely desirable for renters. This asset will provide the new owner with 14% potential upside in revenue, including increased income through the newly-instituted RUBS program.
Last Agent to Sell the Property
Keller Williams Realty Downey License #01456379 Listed on: 05/18/2021
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1986
Lot Details
- 6,627 Sq Ft Lot
- Two or More Common Walls
- Density is 6-10 Units/Acre
Parking
- 12 Car Garage
- Parking Available
- Side Facing Garage
Home Design
- Apartment
Interior Spaces
- 6,240 Sq Ft Home
- 3-Story Property
- Laundry Room
Bedrooms and Bathrooms
- 2 Bedrooms
- 2 Bathrooms
Location
- Urban Location
Listing and Financial Details
- Legal Lot and Block 17 / B
- Tax Tract Number 5769
- Assessor Parcel Number 7260029019
Community Details
Overview
- 8 Units
- Eastside Subdivision
Amenities
- Laundry Facilities
Building Details
- Rent Control
- 8 Separate Electric Meters
- 8 Separate Gas Meters
- 1 Separate Water Meter
- Electric Expense $1,974
- Fuel Expense $1,974
- Gardener Expense $600
- Insurance Expense $3,120
- Maintenance Expense $4,600
- Other Expense $1,400
- Pest Control $728
- Professional Management Expense $8,353
- Trash Expense $1,974
- Water Sewer Expense $1,974
- New Taxes Expense $31,465
- Operating Expense $58,770
- Gross Income $1,670,670
- Net Operating Income $108,297
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Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 08/13/2021 08/13/21 | Sold | $2,500,000 | 0.0% | $401 / Sq Ft |
| 06/21/2021 06/21/21 | Pending | -- | -- | -- |
| 05/18/2021 05/18/21 | For Sale | $2,500,000 | -- | $401 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
Tax History Compared to Growth
Agents Affiliated with this Home
-
Robert Stepp
-
Jon Swire
Buyer's Agent in 2021
Jon Swire
The Agency
(310) 948-2631
2 in this area
34 Total Sales
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: PW21106140
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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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