NOT LISTED FOR SALE

Estimated Value: $1,316,605 - $1,582,000

1 Bed
1 Bath
3,226 Sq Ft
$457/Sq Ft Est. Value

Last Sold April 27, 2018

Last sale price $950,000 $294 Per Sq Ft

Est. 55% increase in value since last sale

Current estimated payment $9,238/month

176 Days on Market

Highlights

  • 4,092 Sq Ft lot
  • No HOA
  • Carpet
  • Long Beach Polytechnic High School Rated A
  • Laundry Room
  • Wall Furnace

About This Home

As of April 2018

Do not miss out on owning this beautiful vintage charm property centrally located in the prime are of Alamitos Beach in the city of Long Beach. Compromised of four large one bedroom units the includes a refrigerator, stove and wall heater. Blocks from the ocean, restaurants, parks, coffee shops, metro and bus stops. Look no further and add this to your portfolio.

Last Agent to Sell the Property

EDGAR SARABIA

Spurr & Associates Inc License #01730229 Listed on: 10/04/2017

Last Buyer's Agent

Anthony Walker

Buckingham Investments, Inc License #01908153

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $14,000

Year Built

  • Built in 1921

Lot Details

  • 4,092 Sq Ft Lot
  • Two or More Common Walls
  • Density is up to 1 Unit/Acre

Parking

  • 1 Car Garage

Home Design

  • Property Attached

Interior Spaces

  • 3,226 Sq Ft Home
  • Carpet
  • Gas Cooktop
  • Laundry Room

Bedrooms and Bathrooms

  • 1 Bedroom
  • 1 Bathroom

Utilities

  • Wall Furnace

Listing and Financial Details

  • Tenant pays for cable TV, electricity, gas
  • Legal Lot and Block 2 / 94
  • Tax Tract Number 2
  • Assessor Parcel Number 7265011026

Community Details

Overview

  • No Home Owners Association
  • 4 Units

Amenities

  • Laundry Facilities

Building Details

  • 4 Leased Units
  • 5 Separate Electric Meters
  • 5 Separate Gas Meters
  • 1 Separate Water Meter
  • Operating Expense $14,799
  • Gross Income $49,475
  • Net Operating Income $34,676

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$14,000

Year Built

Built in 1921

Lot Details

0

Parking

1

Listing Details

  • Assessments: Yes
  • CapRate: 3.07
  • Other Phone Description: Agent Cell
  • Other Phone Number: 909-268-6839
  • Property Attached: Yes
  • Subdivision Name Other: Alamitos Beach (AB)
  • Zoning: LBCNR
  • Property Type: Residential Income
  • Parcel Number: 7265011026
  • Year Built: 1921
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Common Walls: 2+ Common Walls
  • Flooring: Carpet
  • Appliances: Yes
  • Levels: Two
  • Price Per Square Foot: 294.48

Exterior Features

  • Pool Private: No

Garage/Parking

  • Garage Spaces: 1.00
  • Total Parking Spaces: 1.00

Utilities

  • Heating: Yes
  • Laundry: Yes
  • Appliances: Gas Cooktop
  • Heating Type: Wall Furnace
  • Laundry Features: Community
  • Sewer: Public Sewer
  • Water Source: Public

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Community Features: Sidewalks, Storm Drains

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: 0-1 Unit/Acre
  • Lot Size Sq Ft: 4092.00

Rental Info

  • Tenant Pays: Cable TV, Electricity, Gas

Multi Family

  • Gross Income: 49475.00
  • Gross Multiplier: 22.79
  • Gross Scheduled Income: 49320.00
  • Laundry Income: 155.00
  • Net Operating Income: 34676.00
  • Number Of Separate Electric Meters: 5
  • Number Of Separate Gas Meters: 5
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 4
  • Number Of Units Total: 4
  • Operating Expense: 14799.00
  • Rent Control: No
  • Total Actual Rent: 4110.00
  • Total Expenses: 14799.00

Tax Info

  • Tax Block: 94
  • Tax Census Tract: 5766.01
  • Tax Lot: 2
  • Tax Tract Number: 2

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Jan 26, 2022
Sold by
Edward King Scott and Edward Michele Susan
Bought by
King Posch Trust
Current Estimated Value
$1,474,151

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$677,000
Outstanding Balance
$629,916
Interest Rate
3.56%
Mortgage Type
New Conventional
Estimated Equity
$844,235

Purchase Details

Closed on
Jul 8, 2021
Sold by
King Scott Edward and Posch Susan Michele
Bought by
King Scott Edward and Posch Susan Michele

Purchase Details

Listed on
Oct 4, 2017
Closed on
Apr 20, 2018
Sold by
Stirling Charles Frank
Bought by
King Scott Edward and Posch Susan Michele
Seller's Agent
EDGAR SARABIA
Spurr & Associates Inc
Buyer's Agent
Anthony Walker
Buckingham Investments, Inc
List Price
$1,128,000
Sold Price
$950,000
Premium/Discount to List
-$178,000
-15.78%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
6.20%
Original Mortgage
$712,500
Interest Rate
4.5%
Mortgage Type
New Conventional

Purchase Details

Closed on
Jul 27, 1995
Sold by
Stirling Zenaides M and The Stirling Family Trust
Bought by
Stirling Zenaides M and Charles K Stirling Exemption Trust

Purchase Details

Closed on
Mar 21, 1994
Sold by
Stirling Charles K and Stirling Zenaides M
Bought by
Stirling Charles K
Source: Public Records

Range of Values:

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Average Value
Not Available
List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
King Posch Trust -- Fidelity National Title
King Scott Edward -- Fidelity National Title
King Scott Edward -- None Available
King Scott Edward $950,000 Chicago Title Company
Stirling Zenaides M -- --
Stirling Charles K -- --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open King Scott Edward $677,000
Closed King Posch Trust $677,000
Previous Owner King Scott Edward $696,000
Previous Owner King Scott Edward $702,000
Previous Owner King Scott Edward $712,500
Previous Owner King Scott Edward $712,500
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
04/27/2018 04/27/18 Sold $950,000 -15.8% $294 / Sq Ft
03/29/2018 03/29/18 Pending -- -- --
10/04/2017 10/04/17 For Sale $1,128,000 -- $350 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

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 $14,000 $1,080,932 $853,369 $227,563
2024 $14,000 $1,059,738 $836,637 $223,101
2023 $13,763 $1,038,960 $820,233 $218,727
2022 $12,922 $1,018,589 $804,150 $214,439
2021 $12,658 $998,618 $788,383 $210,235
2019 $12,478 $969,220 $765,000 $204,220
2018 $1,257 $49,933 $29,704 $20,229
2016 $1,147 $47,784 $28,551 $19,233
2015 $1,116 $47,068 $28,123 $18,945
2014 $1,135 $46,147 $27,573 $18,574
Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PW17229023

California Regional Multiple Listing Service (CRMLS)

APN: 7265-011-026