NOT LISTED FOR SALE
1 Bed
1 Bath
3,791 Sq Ft
8,506 Sq Ft Lot

Last Sold August 17, 2020

Last sale price $1,245,000 $328 Per Sq Ft

100 Days on Market

Highlights

  • Cooling System Mounted To A Wall/Window
  • Park
  • Forced Air Heating System
  • Living Room
  • Laundry Room
  • 4 Car Garage

About This Home

As of August 2020

-Nearly 20% Upside in Rents
-4 Garages
-Located Near the New Long Beach Exchange Retail Center
-$85,000 Invested in Improvements Since 2018
-New Roof, Exterior Paint & New Landscaping

Last Agent to Sell the Property

Peter Gillin

Morgan Skenderian License #01433769 Listed on: 02/18/2020

Last Buyer's Agent

Chuck Brewer

Home Smart Realty Group License #01939550

Home Smart Realty Group

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1953

Lot Details

  • 8,506 Sq Ft Lot
  • Two or More Common Walls
  • Density is 6-10 Units/Acre

Parking

  • 4 Car Garage
  • On-Street Parking

Home Design

  • Apartment

Interior Spaces

  • 3,791 Sq Ft Home
  • 2-Story Property
  • Living Room
  • Laundry Room

Bedrooms and Bathrooms

  • 1 Bedroom
  • 1 Bathroom

Outdoor Features

  • Rain Gutters

Utilities

  • Cooling System Mounted To A Wall/Window
  • Forced Air Heating System
  • Natural Gas Connected
  • Phone Available
  • Cable TV Available

Listing and Financial Details

  • Legal Lot and Block 102 / H
  • Tax Tract Number 5464
  • Assessor Parcel Number 7128011019

Community Details

Overview

  • 2 Buildings
  • 6 Units

Amenities

  • Laundry Facilities

Recreation

  • Park

Building Details

  • 6 Separate Electric Meters
  • 6 Separate Gas Meters
  • 1 Separate Water Meter
  • Electric Expense $946
  • Gardener Expense $1,200
  • Insurance Expense $1,137
  • Maintenance Expense $6,644
  • Other Expense $1,097
  • Pest Control $600
  • Professional Management Expense $2,400
  • Supplies Expense $500
  • Trash Expense $946
  • Water Sewer Expense $946
  • New Taxes Expense $15,064
  • Operating Expense $31,481
  • Gross Income $94,920
  • Net Operating Income $60,592

Property Details

Home Type

Multi-Family

Year Built

Built in 1953

Lot Details

0

Parking

4

Listing Details

  • CapRate: 4.90
  • Professional Management Expense: 2400.00
  • Property Attached: Yes
  • Subdivision Name Other: Harte
  • Supplies Expense: 500.00
  • Water Sewer Expenses: 946.00
  • Zoning: LBR3T
  • Property Type: Residential Income
  • Gardener Expense: 1200.00
  • Parcel Number: 7128011019
  • Year Built: 1953
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Interior Amenities: Unfurnished
  • Stories: 2
  • Common Walls: 2+ Common Walls
  • Levels: Two
  • Price Per Square Foot: 328.41
  • Room Type: Living Room, Master Bathroom, Master Bedroom

Exterior Features

  • Pool Private: No

Garage/Parking

  • Garage Spaces: 4.00
  • Parking Features: Garage, Street
  • Total Parking Spaces: 4.00

Utilities

  • Utilities: Cable Available, Electricity Connected, Natural Gas Connected, Phone Available, Sewer Connected, Water Connected
  • Heating: Yes
  • Laundry: Yes
  • Heating Type: Forced Air
  • Laundry Features: Community
  • Pest Control Expense: 600.00
  • Sewer: Public Sewer
  • Trash Expense: 946.00
  • Water Source: Public
  • Cooling: Wall/Window Unit(s)
  • Cooling: Yes

Condo/Co-op/Association

  • Senior Community: No
  • Common Interest: Community Apartment
  • Community Features: Curbs, Gutters, Park, Sidewalks

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: 6-10 Units/Acre
  • Lot Size Sq Ft: 8506.00
  • Lot Size Acres: 0.1953

Multi Family

  • Average1 Bed Area: 630 Square Feet
  • Electric Expense: 946.00
  • Gross Income: 94920.00
  • Gross Multiplier: 13.12
  • Gross Operating Income: 92072.00
  • Gross Scheduled Income: 94920.00
  • Gross Spendable Income: 25732.00
  • Insurance Expense: 1137.00
  • Laundry Income: 1200.00
  • Lot Size Area: 8506.0000 Square Feet
  • Maintenance Expense: 6644.00
  • Maintenance Percent: 7.00
  • Net Operating Income: 60592.00
  • Number Of Separate Electric Meters: 6
  • Number Of Separate Gas Meters: 6
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 6
  • Operating Expense: 31480.00
  • Operating Expense Percent: 33.20
  • Other Expense: 1097.00
  • Other Expense Description: Assess.
  • Rent Control: No
  • Total Expenses: 31481.00
  • Vacancy Allowance Rate: 3.00

Tax Info

  • New Taxes Expense: 15064.00
  • Tax Block: H
  • Tax Census Tract: 5706.02
  • Tax Lot: 102
  • Tax Tract Number: 5464

Range of Values:

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Value Increase
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Percent Increase
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Adjusted for Inflation
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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
08/17/2020 08/17/20 Sold $1,245,000 +3.8% $328 / Sq Ft
05/28/2020 05/28/20 Pending -- -- --
02/18/2020 02/18/20 For Sale $1,200,000 +26.3% $317 / Sq Ft
10/04/2018 10/04/18 Sold $950,000 +6.1% $251 / Sq Ft View Prior Sale
08/07/2018 08/07/18 Pending -- -- --
08/06/2018 08/06/18 For Sale $895,000 -- $236 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PW20035722

California Regional Multiple Listing Service (CRMLS)