Seller's Agent in 2016
Randy Smith
smithREgroup
(888) 281-5048
44 Total Sales
1232 Long Beach Blvd Long Beach, CA 90813
Saint Mary's NeighborhoodEstimated Value: $2,307,009
5
Beds
5
Baths
6,188
Sq Ft
$373/Sq Ft
Est. Value
About This Home
As of April 2016PRICE JUST REDUCED $250,000 FOR IMMEDIATE SALE. RENTS CAN BE INCREASED TO ACHIEVE 8% CAP RATE. Outstanding upside/rehab/development potential!! 6188 SF including two storefronts, two 2 BR apartments, two 1 BR apartments and a single apartment. City of LB has recently completed block long Façade Improvement Project, including front building facades, signage, storefront windows and high end interior roll up gates. Adjacent parcel is a gated, paved 7500 SF parking lot. Rents are currently well below market. All tenants on month to month agreements. Huge upside and/or development potential. One of the highest growth zip codes in Long Beach. Located at LB Blvd/Anaheim St High Traffic directly in front of Metro Rail stop - Mixed Use property located in the heart of the Dignity Heath St. Mary's Medical Center redevelopment zone. Includes 2 parcels totaling 15000 SF of land. 2nd Parcel is a parking lot. Operate as existing and increase revenue or develop the site.
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $12,125
Year Built
- Built in 1920
Lot Details
- 0.34 Acre Lot
- 1 Common Wall
Parking
- 20 Parking Spaces
Home Design
- 6,188 Sq Ft Home
- Property Attached
Bedrooms and Bathrooms
- 5 Bedrooms
- 5 Bathrooms
Location
- Urban Location
Listing and Financial Details
- Tax Lot 4
- Tax Tract Number 6
- Assessor Parcel Number 7273002004
Community Details
Overview
- 3 Buildings
- 7 Units
Building Details
- 5 Leased Units
- 7 Separate Electric Meters
- 7 Separate Gas Meters
- 3 Separate Water Meters
- Insurance Expense $2,246
- Trash Expense $2,178
- New Taxes Expense $15,000
- Gross Income $7,215
- Net Operating Income $62,324
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
Aug 22, 2015
Closed on
Apr 5, 2016
Sold by
Black Thomas E
Bought by
Brea Mesa Investment Group Llc
Seller's Agent
Randy Smith
smithREgroup
Buyer's Agent
Parham Khoshbakhtian
Parham Khoshbakhtian, Broker
List Price
$1,750,000
Sold Price
$1,225,000
Premium/Discount to List
-$525,000
-30%
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
$1,082,009
Avg. Annual Appreciation
5.49%
Original Mortgage
$720,000
Outstanding Balance
$574,344
Interest Rate
3.64%
Mortgage Type
Future Advance Clause Open End Mortgage
Estimated Equity
$1,448,303
Purchase Details
Closed on
Mar 26, 1996
Sold by
Black Chiyoko
Bought by
Black Thomas A and The Thomas A Black Revocable Trust
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$150,000
Interest Rate
7.05%
Mortgage Type
Commercial
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 |
|---|---|---|---|
| Brea Mesa Investment Group Llc | $1,200,000 | Chicago Title Company | |
| Black Thomas A | -- | Continental Lawyers Title Co |
Source: Public Records
Mortgage History
| Date | Status | Borrower | Loan Amount |
|---|---|---|---|
| Open | Brea Mesa Investment Group Llc | $720,000 | |
| Previous Owner | Black Thomas A | $350,000 | |
| Previous Owner | Black Thomas A | $150,000 |
Source: Public Records
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 04/15/2016 04/15/16 | Sold | $1,225,000 | -30.0% | $198 / Sq Ft |
| 01/27/2016 01/27/16 | Pending | -- | -- | -- |
| 08/22/2015 08/22/15 | For Sale | $1,750,000 | -- | $283 / 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 | $12,125 | $797,873 | $621,491 | $176,382 |
| 2024 | $12,125 | $782,229 | $609,305 | $172,924 |
| 2023 | $11,886 | $766,892 | $597,358 | $169,534 |
| 2022 | $11,197 | $751,856 | $585,646 | $166,210 |
| 2021 | $10,909 | $737,114 | $574,163 | $162,951 |
| 2020 | $10,881 | $729,557 | $568,276 | $161,281 |
| 2019 | $10,751 | $715,253 | $557,134 | $158,119 |
| 2018 | $10,423 | $701,229 | $546,210 | $155,019 |
| 2016 | $8,080 | $542,143 | $228,431 | $313,712 |
| 2015 | $7,792 | $534,000 | $225,000 | $309,000 |
| 2014 | $3,019 | $108,730 | $46,174 | $62,556 |
Source: Public Records
Agents Affiliated with this Home
-
Randy Smith
-
Parham Khoshbakhtian
Buyer's Agent in 2016
Parham Khoshbakhtian
Parham Khoshbakhtian, Broker
(949) 929-5901
3 Total Sales
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: PW15187209
APN: 7273-002-004
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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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