NOT LISTED FOR SALE

1207 Bennett Ave Long Beach, CA 90804

Recreation Park Neighborhood
5 Beds
4 Baths
3,797 Sq Ft
5,292 Sq Ft Lot

Last Sold June 06, 2024

Last sale price $1,750,000 $461 Per Sq Ft

75 Days on Market

About This Home

As of June 2024

1205-1207 Bennett Avenue is a 7-unit apartment asset located in Long Beach, California. The property is offered at 11.92 GRM and 5.50% cap rate on current rents. The property is comprised of (5) 1BD / 1BA units; (1) 2BD / 1BA unit: and (1) 1BD / 1BA unit. Three (3) garages offer the potential for ADU conversion. All units have been fully remodeled with recessed lighting, new flooring, new kitchen countertops, cabinetry, and stainless steel appliance, new bathrooms, and modern fixtures and features throughout. Renovated units offer in-unit washers and dryers. The property is located in a quiet, residential neighborhood near Belmont Heights.

Last Agent to Sell the Property

Robert Stepp

Keller Williams Realty Downey Brokerage Phone: 310-463-2916 License #01456379 Listed on: 01/10/2024

Keller Williams Realty Downey

Last Buyer's Agent

Alec Kara

Keller Williams Pacific Estate License #02030808

Keller Williams Pacific Estate

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1923

Lot Details

  • 5,292 Sq Ft Lot
  • Two or More Common Walls
  • Density is 6-10 Units/Acre

Parking

  • 3 Car Garage

Home Design

  • Apartment
  • Entry on the 1st floor

Interior Spaces

  • 3,797 Sq Ft Home
  • 2-Story Property
  • Laundry Room

Bedrooms and Bathrooms

  • 5 Bedrooms
  • 4 Bathrooms

Listing and Financial Details

  • Tax Lot 83
  • Tax Tract Number 6398
  • Assessor Parcel Number 7241008014
  • $1,198 per year additional tax assessments

Community Details

Overview

  • 2 Buildings
  • 7 Units
  • Eastside Subdivision

Building Details

  • Rent Control
  • 7 Separate Electric Meters
  • 7 Separate Gas Meters
  • 1 Separate Water Meter
  • Electric Expense $1,167
  • Fuel Expense $1,167
  • Gardener Expense $1,200
  • Insurance Expense $4,500
  • Maintenance Expense $4,900
  • Other Expense $2,100
  • Pest Control $900
  • Professional Management Expense $7,834
  • Trash Expense $1,167
  • Water Sewer Expense $1,167
  • New Taxes Expense $24,108
  • Operating Expense $50,709
  • Gross Income $156,674
  • Net Operating Income $105,965

Property Details

Home Type

Multi-Family

Year Built

Built in 1923

Lot Details

0

Parking

3

Listing Details

  • CapRate: 5.50
  • Price Per Unit: 275000
  • Professional Management Expense: 7834.00
  • Property Attached: Yes
  • Subdivision Name Other: Eastside (ES)
  • Water Sewer Expenses: 1167.00
  • Zoning: LBR3S
  • Property Sub Type: Commercial/Residential
  • Property Type: Residential Income
  • Gardener Expense: 1200.00
  • Parcel Number: 7241008014
  • Year Built: 1923
  • Special Features: None

Interior Features

  • Stories: 2
  • Entry Location: 1
  • Common Walls: 2+ Common Walls
  • Entry Level: 1
  • Levels: Two
  • Price Per Square Foot: 460.89

Exterior Features

  • Pool Private: No

Garage/Parking

  • Garage Spaces: 3.00
  • Total Parking Spaces: 3.00

Utilities

  • Laundry: Yes
  • Laundry Features: Inside
  • Pest Control Expense: 900.00
  • Sewer: Public Sewer
  • Trash Expense: 1167.00
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No
  • Common Interest: Community Apartment
  • Community Features: Sidewalks

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: 6-10 Units/Acre
  • Lot Size Sq Ft: 5292.00
  • Lot Size Acres: 0.1215
  • Latitude Manual: 33.78185200

Multi Family

  • Electric Expense: 1167.00
  • Fuel Expense: 1167.00
  • Gross Income: 156674.00
  • Gross Multiplier: 11.92
  • Gross Scheduled Income: 161520.00
  • Insurance Expense: 4500.00
  • Lot Size Area: 5292.0000 Square Feet
  • Maintenance Expense: 4900.00
  • Net Operating Income: 105965.00
  • Number Of Separate Electric Meters: 7
  • Number Of Separate Gas Meters: 7
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 7
  • Operating Expense: 50709.00
  • Other Expense: 2100.00
  • Other Expense Description: Reserves
  • Rent Control: Yes
  • Total Expenses: 50709.00

Tax Info

  • New Taxes Expense: 24108.00
  • Tax Census Tract: 5770.00
  • Tax Lot: 83
  • Tax Tract Number: 6398
  • TaxOtherAnnualAssessmentAmount: 1198.00

Range of Values:

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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
06/06/2024 06/06/24 Sold $1,750,000 -9.1% $461 / Sq Ft
03/25/2024 03/25/24 Pending -- -- --
01/10/2024 01/10/24 For Sale $1,925,000 -- $507 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Robert Stepp

    Seller's Agent in 2024

    Robert Stepp

    Keller Williams Realty Downey

    (310) 463-2916

    5 in this area

    75 Total Sales

    Robert Stepp
    Section Image
  • Alec Kara

    Buyer's Agent in 2024

    Alec Kara

    Keller Williams Pacific Estate

    (562) 513-7800

    1 in this area

    15 Total Sales

    Alec Kara
    Section Image
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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PW24005142

California Regional Multiple Listing Service (CRMLS)
California Los Angeles County Long Beach 90804 Recreation Park

1207 Bennett Ave, Long Beach, CA

This home is located at 1207 Bennett Ave, Long Beach, CA 90804 since 10 January 2024. This property was built in 1923. 1207 Bennett Ave is a home located in Los Angeles County with nearby schools including Bryant Elementary School, Woodrow Wilson High School, and Maple Village Waldorf School.

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.

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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