Seller's Agent in 2024
Juan Huizar
Sage Real Estate Group, Inc.
(562) 307-0838
4 in this area
97 Total Sales
1201 Olive Ave Long Beach, CA 90813
Saint Mary's NeighborhoodEstimated Value: $998,958 - $1,177,000
8
Beds
4
Baths
2,552
Sq Ft
$413/Sq Ft
Est. Value
Highlights
- Craftsman Architecture
- No HOA
- Vinyl Flooring
- Long Beach Polytechnic High School Rated A
- Laundry Room
- 5-minute walk to Peace Park
About This Home
As of November 2024Introducing 1201 Olive Avenue, a charming Craftsman property with four units, perfect for investors or those seeking multi-family living in a prime location. The front house is a beautifully remodeled Craftsman-style home, offering 3 bedrooms and 1 bath. It boasts a welcoming porch, a brand-new kitchen with modern cabinets, countertops, and flooring, plus a spacious bathroom. Laundry hookups are conveniently included.
The middle unit is a detached 2-bedroom, 1-bath home, offering privacy and potential. At the rear of the property, you'll find two additional units. The downstairs unit is a cozy 1-bedroom, 1-bath with its own garage, while the upstairs unit features 2 bedrooms and 1 bath, perfect for additional rental income or extended family.
This property is uniquely positioned with both a rear alley and a side alley that runs along the property, giving it the feel of a corner lot and adding flexibility for potential parking expansion. The large lot offers even more opportunity for future development or additional parking spaces. All units are individually sub-metered for gas and electric, making it easy to manage.
While the property could use some TLC, it is priced to sell and has immense potential. Additionally, this property is located in an area eligible for the Ladder Up Home Loan Grant, offering up to $50,000 in grant credits for qualified owner-occupant buyers who meet eligibility requirements.
This is a rare opportunity to secure a multi-unit property in a prime location with financial assistance available. Don’t miss out on this exceptional investment!
Last Agent to Sell the Property
Sage Real Estate Group, Inc. Brokerage Phone: 562-307-0838 License #01417642 Listed on: 09/24/2024
Co-Listed By
Sage Real Estate Group, Inc. Brokerage Phone: 562-307-0838 License #02230080
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1919
Lot Details
- 6,541 Sq Ft Lot
- No Common Walls
- Density is up to 1 Unit/Acre
Parking
- 3 Open Parking Spaces
- 1 Car Garage
- Parking Available
- Assigned Parking
Home Design
- Quadruplex
- Craftsman Architecture
- Entry on the 1st floor
- Shingle Roof
Interior Spaces
- 2,552 Sq Ft Home
- 1-Story Property
- Vinyl Flooring
- Laundry Room
Bedrooms and Bathrooms
- 8 Bedrooms
- 4 Bathrooms
Listing and Financial Details
- Tenant pays for electricity, gas
- Legal Lot and Block 23 / 1
- Assessor Parcel Number 7274003012
- $807 per year additional tax assessments
- Seller Considering Concessions
Community Details
Overview
- No Home Owners Association
- 3 Buildings
- 4 Units
- Alamitos Beach Subdivision
Building Details
- 3 Leased Units
- Rent Control
- 4 Separate Electric Meters
- 4 Separate Gas Meters
- 1 Separate Water Meter
- Gardener Expense $1,200
- Insurance Expense $3,250
- Maintenance Expense $4,200
- Professional Management Expense $4,830
- Trash Expense $1,200
- Water Sewer Expense $1,800
- New Taxes Expense $10,938
- Operating Expense $28,980
- Gross Income $96,600
- Net Operating Income $67,620
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
Sep 24, 2024
Closed on
Oct 21, 2024
Sold by
Jnk Legacy Trust and Redwood Angela D
Bought by
Chea Samneang
Seller's Agent
Juan Huizar
Sage Real Estate Group, Inc.
Buyer's Agent
Dara Chay
Sky View Real Estate
List Price
$875,000
Sold Price
$980,000
Premium/Discount to List
$105,000
12%
Views
33
Current Estimated Value
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$74,490
Avg. Annual Appreciation
6.35%
Original Mortgage
$580,000
Outstanding Balance
$573,036
Interest Rate
6.12%
Mortgage Type
New Conventional
Estimated Equity
$481,454
Purchase Details
Closed on
Aug 19, 2019
Sold by
Redwood Angela D M and The Jnk Legacy Trust
Bought by
Redwood Angela D M and The Jnk Legacy Trust
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$115,000
Interest Rate
3.7%
Mortgage Type
Commercial
Purchase Details
Closed on
Jun 2, 2000
Sold by
Hud
Bought by
Redwood Angela
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$160,000
Interest Rate
8.63%
Purchase Details
Closed on
Apr 13, 2000
Sold by
Norwest Mtg Inc
Bought by
Hud
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$160,000
Interest Rate
8.63%
Purchase Details
Closed on
Jan 5, 2000
Sold by
Rajamin Caridad
Bought by
Norwest Mtg Inc
Purchase Details
Closed on
May 21, 1997
Sold by
East End Properties Inc
Bought by
Rajamin Caridad
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$254,602
Interest Rate
7.7%
Mortgage Type
FHA
Purchase Details
Closed on
Feb 18, 1997
Sold by
Stassi Alan and East End Properties Inc
Bought by
East End Properties Inc
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area
Home Values in the Area
Average Home Value in this Area
Purchase History
| Date | Buyer | Sale Price | Title Company |
|---|---|---|---|
| Chea Samneang | $980,000 | Provident Title | |
| Chea Samneang | $980,000 | Provident Title | |
| Redwood Angela D M | -- | First American Title Company | |
| Redwood Angela | $200,000 | United Title Company | |
| Hud | -- | Fidelity National Title Ins | |
| Norwest Mtg Inc | $275,186 | Fidelity National Title Ins | |
| Rajamin Caridad | $265,000 | First American Title Ins Co | |
| East End Properties Inc | $84,000 | -- |
Source: Public Records
Mortgage History
| Date | Status | Borrower | Loan Amount |
|---|---|---|---|
| Open | Chea Samneang | $580,000 | |
| Closed | Chea Samneang | $580,000 | |
| Previous Owner | Redwood Angela D M | $115,000 | |
| Previous Owner | Redwood Angela | $160,000 | |
| Previous Owner | Rajamin Caridad | $254,602 |
Source: Public Records
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 11/18/2024 11/18/24 | Sold | $980,000 | +12.0% | $384 / Sq Ft |
| 10/10/2024 10/10/24 | Pending | -- | -- | -- |
| 09/24/2024 09/24/24 | For Sale | $875,000 | -- | $343 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
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 | $4,406 | $980,000 | $480,000 | $500,000 |
| 2024 | $4,406 | $295,437 | $137,230 | $158,207 |
| 2023 | $4,324 | $289,645 | $134,540 | $155,105 |
| 2022 | $4,076 | $283,966 | $131,902 | $152,064 |
| 2021 | $3,975 | $278,399 | $129,316 | $149,083 |
| 2020 | $3,963 | $275,546 | $127,991 | $147,555 |
| 2019 | $3,916 | $270,144 | $125,482 | $144,662 |
| 2018 | $3,749 | $264,848 | $123,022 | $141,826 |
| 2016 | $3,446 | $254,566 | $118,246 | $136,320 |
| 2015 | $3,319 | $250,743 | $116,470 | $134,273 |
| 2014 | $3,317 | $245,832 | $114,189 | $131,643 |
Source: Public Records
Agents Affiliated with this Home
-
Juan Huizar
-
Theresa Cornwell
T
Seller Co-Listing Agent in 2024
Theresa Cornwell
Sage Real Estate Group, Inc.
(562) 270-2334
1 in this area
5 Total Sales
-
Dara Chay
Buyer's Agent in 2024
Dara Chay
Sky View Real Estate
(562) 761-2777
1 in this area
23 Total Sales
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: PW24198055
APN: 7274-003-012
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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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