NOT LISTED FOR SALE

1217 Molino Ave Long Beach, CA 90804

Rose Park Neighborhood

Estimated Value: $655,621 - $830,000

4 Beds
2 Baths
1,058 Sq Ft
$718/Sq Ft Est. Value

Last Sold May 16, 2013

Last sale price $325,000 $307 Per Sq Ft

Est. 134% increase in value since last sale

Current estimated payment $4,408/month

18 Days on Market

Highlights

  • Private Yard
  • No HOA
  • Tile Flooring
  • Woodrow Wilson High School Rated A

About This Home

As of May 2013

Welcome to 1217 Molino Avenue! Located just north of the acclaimed Rose Park neighborhood, this investment property is truly an AMAZING cash cow! Consisting of 3 distinct spaces that are currently rented; this property offers a solid return on investment that generates $3,095 per month. The expansive front unit includes a soothing front yard complete with an arbor, a mini rose garden, 3 large bedrooms, 1 bathroom, and it currently rents for $1500 per month. Directly behind the front unit, is a smaller unit that includes 1 bedroom , 1 bathroom, and it currently rents for $750 per month. An unpermitted rear unit is currently generating an additional $845 per month. This property includes a fresh interior paint job and new kitchen countertops. This property should require little work and begin generating a solid return on day one. Make this fantastic investment property your own; cash investors are preferred.

Last Agent to Sell the Property

Jeff Anderson

eXp Realty of California Inc License #01729514 Listed on: 02/11/2013

eXp Realty of California Inc

Co-Listed By

Torey Carrick

eXp Realty of California Inc License #01878468

Last Buyer's Agent

Jeff Anderson

eXp Realty of California Inc License #01729514 Listed on: 02/11/2013

eXp Realty of California Inc

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1916

Lot Details

  • 3,446 Sq Ft Lot
  • Two or More Common Walls
  • Private Yard

Home Design

  • Property Attached

Interior Spaces

  • 1,058 Sq Ft Home
  • Tile Flooring

Bedrooms and Bathrooms

  • 4 Bedrooms
  • 2 Bathrooms

Listing and Financial Details

  • Tax Lot 76
  • Assessor Parcel Number 7260029027

Community Details

Overview

  • No Home Owners Association
  • 2 Units

Building Details

  • Gross Income $3,145
  • Net Operating Income $34,740

Property Details

Home Type

Multi-Family

Year Built

Built in 1916

Lot Details

0

Listing Details

  • Property Attached: Yes
  • Property Type: Residential Income
  • Parcel Number: 7260029027
  • Year Built: 1916
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Common Walls: 2+ Common Walls
  • Flooring: Tile
  • Price Per Square Foot: 307.18

Exterior Features

  • Pool Private: No
  • Spa: No

Utilities

  • Utilities: Sewer Connected
  • Water Source: Public

Condo/Co-op/Association

  • Association: No
  • Community Features: Sidewalks

Lot Info

  • Lot Features: Yard
  • Lot Size Sq Ft: 3446.00
  • Lot Size Acres: 0.0790

Multi Family

  • Gross Income: 3145.00
  • Gross Scheduled Income: 34740.00
  • Lot Size Area: 3446.0000 Square Feet
  • Net Operating Income: 34740.00
  • Number Of Units Total: 2
  • Rent Control: No

Tax Info

  • Tax Lot: 76
  • Tax Year: 2011

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Feb 11, 2013
Closed on
May 1, 2013
Sold by
Lujan Irma
Bought by
Lujan Aaron
Seller's Agent
Jeff Anderson
eXp Realty of California Inc
Buyer's Agent
Jeff Anderson
eXp Realty of California Inc
List Price
$319,900
Sold Price
$325,000
Premium/Discount to List
$5,100
1.59%
Current Estimated Value
$759,405

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$434,405
Avg. Annual Appreciation
6.94%

Purchase Details

Closed on
Mar 4, 2013
Sold by
Merriman Aaron
Bought by
Covert Jack Dana

Purchase Details

Closed on
Aug 2, 2011
Sold by
Merriman Aaron
Bought by
Merriman Aaron and Merriman Allison

Purchase Details

Closed on
Dec 21, 2010
Sold by
U S Bank National Association
Bought by
Merriman Aaron and Merriman Allison

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$153,000
Interest Rate
4.79%
Mortgage Type
New Conventional

Purchase Details

Closed on
Sep 28, 2010
Sold by
Vergara Daniel R
Bought by
U S Bank National Association

Purchase Details

Closed on
Mar 13, 2007
Sold by
Vergara R Daniel
Bought by
Vergara Daniel R and Vergara Francisco R

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$371,000
Interest Rate
6.85%
Mortgage Type
New Conventional

Purchase Details

Closed on
Apr 14, 2005
Sold by
Brambila Aracelia
Bought by
Vergara R Daniel and Vergara Francisco R

Purchase Details

Closed on
Oct 3, 2003
Sold by
Brambila Arcelia
Bought by
Brambila Aracelia and Daniel Vergara R

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$185,093
Interest Rate
6.27%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
Oct 23, 1998
Sold by
Gonzalez Jaime Dejesus
Bought by
Brambila Arcelia and Daniel Vergara R

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$172,844
Interest Rate
6.91%
Mortgage Type
FHA

Purchase Details

Closed on
Apr 24, 1998
Sold by
Home Svgs Of America Fsb
Bought by
Gonzalez Jaime Dejesus

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$90,000
Interest Rate
7.05%

Purchase Details

Closed on
Jun 3, 1997
Sold by
Maldonado Rosendo J
Bought by
Home Svgs Of America Fsb
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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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
Lujan Aaron -- Fidelity National Title Co
Covert Jack Dana $325,000 Fidelity National Title Co
Merriman Aaron -- None Available
Merriman Aaron $204,000 Ticor Title Company
U S Bank National Association $185,594 Accommodation
Vergara Daniel R -- Stewart Title
Vergara R Daniel -- --
Brambila Aracelia -- Placer Title Company
Brambila Arcelia $174,000 Investors Title Company
Gonzalez Jaime Dejesus $75,000 Investors Title Company
Home Svgs Of America Fsb $101,250 Fidelity National Title Ins
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Merriman Aaron $153,000
Previous Owner Vergara Daniel R $371,000
Previous Owner Brambila Aracelia $185,093
Previous Owner Brambila Arcelia $172,844
Previous Owner Gonzalez Jaime Dejesus $90,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
05/16/2013 05/16/13 Sold $325,000 +1.6% $307 / Sq Ft
03/01/2013 03/01/13 Pending -- -- --
02/11/2013 02/11/13 For Sale $319,900 -- $302 / 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 $5,287 $400,204 $246,282 $153,922
2024 $5,287 $392,357 $241,453 $150,904
2023 $5,196 $384,665 $236,719 $147,946
2022 $4,882 $377,124 $232,078 $145,046
2021 $4,783 $369,730 $227,528 $142,202
2019 $4,715 $358,765 $220,780 $137,985
2018 $4,545 $351,731 $216,451 $135,280
2016 $4,185 $338,075 $208,047 $130,028
2015 $4,019 $332,997 $204,922 $128,075
2014 $3,997 $326,475 $200,908 $125,567
Source: Public Records

Agents Affiliated with this Home

  • Jeff Anderson

    Seller's Agent in 2013

    Jeff Anderson

    eXp Realty of California Inc

    (562) 784-5241

    6 in this area

    299 Total Sales

    Jeff Anderson
    Section Image
  • Torey Carrick

    Seller Co-Listing Agent in 2013

    Torey Carrick

    eXp Realty of California Inc

    (562) 608-3690

    3 in this area

    80 Total Sales

    Torey Carrick
    Section Image
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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PW13021155

California Regional Multiple Listing Service (CRMLS)

APN: 7260-029-027

California Los Angeles County Long Beach 90804 Rose Park

1217 Molino Ave, Long Beach, CA

Not Listed for Sale

MultiFamily

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