Seller's Agent in 2019
Alfredo Guzman
Real Brokerage Technologies
(562) 786-5418
27 Total Sales
1228 N Loma Vista Dr Long Beach, CA 90813
Willmore NeighborhoodEstimated Value: $610,000
8
Beds
7
Baths
2,858
Sq Ft
$213/Sq Ft
Est. Value
Highlights
- No HOA
- Laundry Room
- Wall Furnace
- Park
About This Home
As of October 2019Come see this Investment Opportunity in the Drake Park/Willmore City Historic District. The main home, which has the address of 1166 Magnolia Ave, is a Craftsman Home, is detached and has 2 bedrooms downstairs and 2 upstairs. The home has been updated with new paint inside and out, floors, kitchen and bathrooms. Behind the home there is a private back yard. There is a fence that separates the front and back and a 2 car detached garage in between. The back units have also been updated and are accessed via a back driveway that is shared with the neighbors, via Loma Vista Drive. The downstairs is a 2 bedroom unit and there are 2 one bedroom units upstairs. This property is great for investment by renting it all out or living in the front house and renting the back 3 units. For the investor, note that the renovation involved significant investment in new electrical and plumbing, thereby bringing down your expense ratio. Check the supplements for information on Fair Rents according to the Housing Authority for the City of Long Beach for their Section 8 program. Also, please note: the property is located in an Opportunity Zone that confers tax benefits to the owner, from capital gains tax deferral, to the elimination of capitals gains tax entirely, if held for the appropriate length of time. Along with interest deductibility and depreciation allowance, the cost of ownership is significantly lowered.
Last Agent to Sell the Property
Real Brokerage Technologies License #01407137 Listed on: 05/06/2019
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $415
Year Built
- Built in 1913
Lot Details
- 5,154 Sq Ft Lot
- No Common Walls
- Density is up to 1 Unit/Acre
Parking
- 2 Car Garage
Home Design
- 2,858 Sq Ft Home
Bedrooms and Bathrooms
- 8 Bedrooms
- 7 Bathrooms
Outdoor Features
- Exterior Lighting
- Rain Gutters
Additional Features
- Laundry Room
- Suburban Location
- Wall Furnace
Listing and Financial Details
- Tax Lot 1
- Tax Tract Number 1
- Assessor Parcel Number 7272004003
Community Details
Overview
- No Home Owners Association
- 2 Buildings
- 4 Units
Recreation
- Park
Building Details
- 1 Leased Unit
- 4 Separate Electric Meters
- 2 Separate Gas Meters
- 1 Separate Water Meter
- Gross Income $6,255
- Net Operating Income $6,255
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
May 6, 2019
Closed on
Oct 10, 2019
Sold by
Keswick Financial Group Inc
Bought by
Belay Lidia
Seller's Agent
Alfredo Guzman
Real Brokerage Technologies
Buyer's Agent
Feven Belay
The Realestate Group
List Price
$1,150,000
Sold Price
$1,125,000
Premium/Discount to List
-$25,000
-2.17%
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
-$515,000
Avg. Annual Appreciation
-7.64%
Original Mortgage
$787,500
Outstanding Balance
$720,453
Interest Rate
5.75%
Mortgage Type
Purchase Money Mortgage
Estimated Equity
-$16,453
Purchase Details
Listed on
Jul 5, 2018
Closed on
Aug 24, 2018
Sold by
Diaz Klein Maricruz
Bought by
Keswick Financial Group Inc
Seller's Agent
Helen Wong
Imax Realty & Mortgage Inc.
Buyer's Agent
Rana Thomas
Mark 1 Real Estate, Inc.
List Price
$799,000
Sold Price
$750,000
Premium/Discount to List
-$49,000
-6.13%
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
46.07%
Purchase Details
Closed on
Oct 26, 2004
Sold by
Lakeview Associates Inc
Bought by
Klein Hans
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$399,200
Interest Rate
5.65%
Mortgage Type
Purchase Money Mortgage
Purchase Details
Closed on
May 2, 2002
Sold by
Holzer Alvin and Holzer Lorraine
Bought by
Holzer Alvin
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$224,000
Interest Rate
7.13%
Mortgage Type
Purchase Money Mortgage
Purchase Details
Closed on
Apr 24, 2002
Sold by
Aranson Joel
Bought by
Aranson Diane
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$224,000
Interest Rate
7.13%
Mortgage Type
Purchase Money Mortgage
Purchase Details
Closed on
Apr 11, 2002
Sold by
Aranson Diane and Cohen Joseph J
Bought by
Lakeview Associates Inc
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$224,000
Interest Rate
7.13%
Mortgage Type
Purchase Money Mortgage
Purchase Details
Closed on
Apr 2, 2002
Sold by
Worcester Mark K
Bought by
Aranson Diane
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$224,000
Interest Rate
7.13%
Mortgage Type
Purchase Money Mortgage
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 |
|---|---|---|---|
| Belay Lidia | $1,125,000 | Orange Coast Title Company | |
| Keswick Financial Group Inc | $750,000 | Wfg Title Company Of Califor | |
| Klein Hans | $499,000 | Southland Title Company | |
| Holzer Alvin | -- | -- | |
| Aranson Diane | -- | -- | |
| Lakeview Associates Inc | $215,000 | -- | |
| Aranson Diane | $175,000 | Fidelity National Title |
Source: Public Records
Mortgage History
| Date | Status | Borrower | Loan Amount |
|---|---|---|---|
| Open | Belay Lidia | $787,500 | |
| Previous Owner | Klein Hans | $415,000 | |
| Previous Owner | Klein Hans | $399,200 | |
| Previous Owner | Lakeview Associates Inc | $224,000 |
Source: Public Records
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 10/16/2019 10/16/19 | Sold | $1,125,000 | -6.2% | $394 / Sq Ft |
| 08/05/2019 08/05/19 | Pending | -- | -- | -- |
| 05/07/2019 05/07/19 | Price Changed | $1,199,000 | +4.3% | $420 / Sq Ft |
| 05/06/2019 05/06/19 | For Sale | $1,150,000 | +53.3% | $402 / Sq Ft |
| 09/21/2018 09/21/18 | Sold | $750,000 | -6.1% | $235 / Sq Ft |
| 09/04/2018 09/04/18 | Pending | -- | -- | -- |
| 07/05/2018 07/05/18 | For Sale | $799,000 | -- | $250 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
Tax History Compared to Growth
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 | $415 | $32,807 | $32,807 | -- |
| 2024 | $415 | $32,164 | $32,164 | -- |
| 2023 | $18 | $130 | $130 | $0 |
| 2022 | $18 | $128 | $128 | $0 |
| 2021 | $18 | $126 | $126 | $0 |
| 2020 | $18 | $125 | $125 | $0 |
| 2019 | $18 | $123 | $123 | $0 |
| 2018 | $14 | $121 | $121 | $0 |
| 2016 | $14 | $117 | $117 | $0 |
| 2015 | $14 | $116 | $116 | $0 |
| 2014 | $14 | $114 | $114 | $0 |
Source: Public Records
Agents Affiliated with this Home
-
Alfredo Guzman
-
Rana Thomas
R
Seller Co-Listing Agent in 2019
Rana Thomas
Mark 1 Real Estate, Inc.
(213) 949-5119
8 Total Sales
-
Feven Belay
F
Buyer's Agent in 2019
Feven Belay
The Realestate Group
(310) 447-4724
15 Total Sales
-
Helen Wong
Seller's Agent in 2018
Helen Wong
Imax Realty & Mortgage Inc.
(626) 715-8333
32 Total Sales
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: PW19105132
APN: 7272-004-037
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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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