NOT LISTED FOR SALE
5 Beds
4 Baths
8,062 Sq Ft
8,991 Sq Ft Lot

Sale Details

Date Sold: September 9, 2022

Last sale price $5,750,000 $713 Per Sq Ft

93 Days on Market

Highlights

  • 0.21 Acre Lot
  • Long Beach Polytechnic High School Rated A
  • Laundry Facilities

About This Home

As of September 2022

1232 E. 2nd Street is a 14-unit turn-key investment asset in prime Alamitos Beach. The property consists of (1) 2BD/1BA unit and (13) 1BD/1BA units. Four units feature private, enclosed courtyards. All units have been renovated with new countertops, laminate wood and porcelain tile flooring, stainless steel appliances, bathtubs, custom tile surrounds, vanities, ceiling fans, lighting, and window coverings. New building systems as well as new vinyl low-energy windows have been installed throughout. The remodeled laundry room features copper pipes and new machines. New landscaping includes installation of concrete hardscape and modern fencing, drought tolerant plants with drip irrigation and lighting.

Last Agent to Sell the Property

Robert Stepp

Keller Williams Realty Downey License #01456379 Listed on: 05/10/2022

Keller Williams Realty Downey

Co-Listed By

Todd Hawke

Keller Williams Realty Downey License #01376219

Last Buyer's Agent

Greg Bassirpou

Marcus & Millichap RE Invest License #01365951

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Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1950

Lot Details

  • 8,991 Sq Ft Lot
  • Two or More Common Walls
  • Density is 11-15 Units/Acre

Home Design

  • Apartment

Interior Spaces

  • 8,062 Sq Ft Home
  • 2-Story Property

Bedrooms and Bathrooms

  • 5 Bedrooms
  • 4 Bathrooms

Listing and Financial Details

  • Legal Lot and Block 5 / 63
  • Tax Tract Number 5766
  • Assessor Parcel Number 7265011007

Community Details

Overview

  • 14 Units
  • Alamitos Beach Subdivision

Amenities

  • Laundry Facilities

Building Details

  • Rent Control
  • 14 Separate Electric Meters
  • 14 Separate Gas Meters
  • 1 Separate Water Meter
  • Electric Expense $1,225
  • Fuel Expense $1,225
  • Gardener Expense $2,340
  • Insurance Expense $4,300
  • Maintenance Expense $7,000
  • Other Expense $3,500
  • Pest Control $500
  • Professional Management Expense $15,883
  • Trash Expense $1,225
  • Water Sewer Expense $1,225
  • New Taxes Expense $73,656
  • Operating Expense $112,579
  • Gross Income $352,953
  • Net Operating Income $240,374

Property Details

Home Type

Multi-Family

Year Built

Built in 1950

Lot Details

8,991 Sq Ft Lot

Listing Details

  • Professional Management Expense: 15883.00
  • Property Attached: Yes
  • Subdivision Name Other: Alamitos Beach (AB)
  • Water Sewer Expenses: 1225.00
  • Zoning: LBR4R
  • Property Type: Residential Income
  • Gardener Expense: 2340.00
  • Parcel Number: 7265011007
  • Year Built: 1950
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Stories: 2
  • Common Walls: 2+ Common Walls
  • Levels: Two
  • Price Per Square Foot: 713.22

Exterior Features

  • Pool Private: No

Utilities

  • Laundry: Yes
  • Laundry Features: Common Area
  • Pest Control Expense: 500.00
  • Sewer: Public Sewer
  • Trash Expense: 1225.00
  • 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: 11-15 Units/Acre
  • Lot Size Sq Ft: 8991.00
  • Lot Size Acres: 0.2064

Multi Family

  • Electric Expense: 1225.00
  • Fuel Expense: 1225.00
  • Gross Income: 352953.00
  • Gross Scheduled Income: 364488.00
  • Insurance Expense: 4300.00
  • Lot Size Area: 8991.0000 Square Feet
  • Maintenance Expense: 7000.00
  • Net Operating Income: 240374.00
  • Number Of Separate Electric Meters: 14
  • Number Of Separate Gas Meters: 14
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 14
  • Operating Expense: 112579.00
  • Other Expense: 3500.00
  • Other Expense Description: Reserves
  • Rent Control: Yes
  • Total Expenses: 112579.00

Tax Info

  • New Taxes Expense: 73656.00
  • Tax Block: 63
  • Tax Census Tract: 5766.01
  • Tax Lot: 5
  • Tax Tract Number: 5766

Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

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Property History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Event Price List to Sale Price per Sq Ft
09/09/2022 09/09/22 Sold $5,750,000 -4.2% $713 / Sq Ft
08/11/2022 08/11/22 Pending -- -- --
05/10/2022 05/10/22 For Sale $6,000,000 -- $744 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

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
2026 $78,649 $6,101,945 $4,563,194 $1,538,751
2025 $78,649 $5,982,300 $4,473,720 $1,508,580
2024 $75,251 $5,865,000 $4,386,000 $1,479,000
2023 $73,983 $5,750,000 $4,300,000 $1,450,000
2022 $38,739 $3,060,000 $2,040,000 $1,020,000
2021 $10,532 $698,288 $401,906 $296,382
2019 $10,380 $679,618 $389,986 $289,632
2018 $10,074 $666,333 $382,340 $283,993
2016 $9,265 $638,500 $367,495 $271,005
2015 $8,932 $628,910 $361,975 $266,935
2014 $8,946 $616,592 $354,885 $261,707
Source: Public Records

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PW22096751

California Regional Multiple Listing Service (CRMLS)
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