NOT LISTED FOR SALE

1238 E 7th St Long Beach, CA 90813

North Alamitos Beach Neighborhood

Estimated Value: $799,000 - $1,028,000

4 Beds
4 Baths
1,449 Sq Ft
$618/Sq Ft Est. Value

Last Sold November 16, 2012

Last sale price $365,000 $252 Per Sq Ft

Est. 145% increase in value since last sale

Current estimated payment $5,203/month

43 Days on Market

Highlights

  • No HOA
  • Laundry Room
  • Wall Furnace
  • Long Beach Polytechnic High School Rated A

About This Home

As of November 2012

This 4 unit building is centrally located in the middle of downtown Long Beach and Long Beach State University on E.7th Street. Ideal for students or newly weds as a starter. 2 Units have been remodeled. 3 units are rented out for $750/- per month. One unit is vacant which has been remodeled. There is a coin operated laundry room in the building. The whole building has been rewired and the roof redone in 2005. All units have separate gas and electric meters. This is a must see.

Last Agent to Sell the Property

Randy De Zilwa

Coldwell Banker Tri-Counties R License #01431623 Listed on: 07/23/2012

Coldwell Banker Tri-Counties R

Last Buyer's Agent

Jimmy Ahmed

Century 21 Astro License #01441564

Century 21 Astro

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1923

Lot Details

  • 2,496

Home Design

  • 1,449 Sq Ft Home

Bedrooms and Bathrooms

  • 4 Bedrooms
  • 4 Bathrooms

Parking

  • 4 Parking Spaces
  • Parking Available
  • Uncovered Parking
  • Unassigned Parking

Additional Features

  • Laundry Room
  • 2,496 Sq Ft Lot
  • Wall Furnace

Listing and Financial Details

  • Tenant pays for cable TV, electricity, gas, repairs, water
  • Legal Lot and Block 3 / 1
  • Assessor Parcel Number 7266012005

Community Details

Overview

  • No Home Owners Association
  • 4 Units

Amenities

  • Laundry Facilities

Building Details

  • 4 Separate Electric Meters
  • 4 Separate Gas Meters
  • 1 Separate Water Meter
  • Insurance Expense $1,200
  • Water Sewer Expense $300
  • New Taxes Expense $3,950
  • Gross Income $3,000
  • Net Operating Income $29,000

Property Details

Home Type

Multi-Family

Year Built

Built in 1923

Lot Details

0

Listing Details

  • Subdivision Name Other: Belmont Heights (BH)
  • View: No
  • Water Sewer Expenses: 300.00
  • Property Type: Residential Income
  • Parcel Number: 7266012005
  • Year Built: 1923
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Fireplace: No
  • Levels: Two
  • Price Per Square Foot: 251.90

Exterior Features

  • Pool Private: No
  • Spa: No

Garage/Parking

  • Parking: Yes
  • Parking Features: Unassigned, Uncovered
  • Total Parking Spaces: 4.00

Utilities

  • Heating: Yes
  • Laundry: Yes
  • Heating Type: Wall Furnace
  • Laundry Features: Community

Condo/Co-op/Association

  • Association: No
  • Senior Community: No

Lot Info

  • Lot Size Sq Ft: 2496.00
  • Lot Size Acres: 0.0570

Rental Info

  • Tenant Pays: Cable TV, Electricity, Gas, Repairs, Water

Multi Family

  • Average1 Bed Area: 362
  • Gross Income: 3000.00
  • Gross Scheduled Income: 36000.00
  • Insurance Expense: 1200.00
  • Lot Size Area: 2496.0000 Square Feet
  • Net Operating Income: 29000.00
  • Number Of Separate Electric Meters: 4
  • Number Of Separate Gas Meters: 4
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 4
  • Operating Expense: 7000.00
  • Operating Expense Percent: 19.50
  • Rent Control: No
  • Vacancy Allowance Rate: 2.00

Tax Info

  • New Taxes Expense: 3950.00
  • Tax Area: 11923
  • Tax Block: 1
  • Tax Lot: 3

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Aug 17, 2012
Sold by
Alserri Faisal
Bought by
Mohamedy Farah and Mohamedy Ilyas
Current Estimated Value
$895,712

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$251,250
Interest Rate
3.34%
Mortgage Type
New Conventional

Purchase Details

Closed on
Dec 29, 2009
Sold by
Evans Eric Phillip and Evans Kelly Kirkwood
Bought by
Alserri Faisal

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$228,937
Interest Rate
5.25%
Mortgage Type
FHA

Purchase Details

Closed on
Nov 29, 2005
Sold by
Kacerek Vicki Sue
Bought by
Evans Eric Phillip

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$466,400
Interest Rate
3%
Mortgage Type
Negative Amortization

Purchase Details

Closed on
Mar 29, 2005
Sold by
Sandmann Jane C and Revocable Living Trust Of Geor
Bought by
Kacerek Vicki Sue

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$380,000
Interest Rate
1.37%
Mortgage Type
New Conventional

Purchase Details

Closed on
Aug 8, 2002
Sold by
Hud
Bought by
Gomez Fanny D

Purchase Details

Closed on
Jun 5, 2001
Sold by
Cendant Mtg Corp
Bought by
Hud

Purchase Details

Closed on
Oct 14, 1999
Sold by
Vicente Anthony and Bustamante Ligaya
Bought by
Cendant Mtg Corp

Purchase Details

Closed on
Nov 12, 1997
Sold by
Gonzalez Rubio
Bought by
Vicente Anthony

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$156,953
Interest Rate
7.23%
Mortgage Type
FHA

Purchase Details

Closed on
Oct 31, 1997
Sold by
Rey John S and Ruiz Enrique J
Bought by
Gonzalez Rubio

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$156,953
Interest Rate
7.23%
Mortgage Type
FHA

Purchase Details

Closed on
Jan 10, 1997
Sold by
Rey John S and Ruiz Enrique J
Bought by
Rey Robert C

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$60,000
Interest Rate
7.58%
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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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
Mohamedy Farah $365,000 Western Resources Title Co
Alserri Faisal $275,000 Fidelity National Title Co
Evans Eric Phillip $583,000 First American Title Company
Kacerek Vicki Sue $475,000 First American Title Co
Gomez Fanny D $150,000 American Title
Hud -- Benefit Land Title Ins Co
Cendant Mtg Corp $145,000 Benefit Land Title Ins Co
Vicente Anthony $210,000 --
Gonzalez Rubio -- American Title Ins Co
Rey Robert C -- --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Mohamedy Farah $251,250
Previous Owner Alserri Faisal $228,937
Previous Owner Evans Eric Phillip $466,400
Previous Owner Kacerek Vicki Sue $380,000
Previous Owner Vicente Anthony $156,953
Previous Owner Rey Robert C $60,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
11/16/2012 11/16/12 Sold $365,000 -7.6% $252 / Sq Ft
09/04/2012 09/04/12 Pending -- -- --
07/23/2012 07/23/12 For Sale $395,000 -- $273 / 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 $6,127 $449,457 $314,008 $135,449
2024 $6,127 $440,645 $307,851 $132,794
2023 $6,015 $432,006 $301,815 $130,191
2022 $5,653 $423,537 $295,898 $127,639
2021 $5,530 $415,234 $290,097 $125,137
2019 $5,451 $402,920 $281,494 $121,426
2018 $5,307 $395,021 $275,975 $119,046
2016 $4,892 $379,683 $265,259 $114,424
2015 $4,702 $373,981 $261,275 $112,706
2014 $4,686 $366,656 $256,157 $110,499
Source: Public Records

Agents Affiliated with this Home

  • Randy De Zilwa

    Seller's Agent in 2012

    Randy De Zilwa

    Coldwell Banker Tri-Counties R

    (909) 374-0895

    16 Total Sales

    Randy De Zilwa
    Section Image

  • J

    Buyer's Agent in 2012

    Jimmy Ahmed

    Century 21 Astro

    Section Image
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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: H12091861

California Regional Multiple Listing Service (CRMLS)

APN: 7266-012-005

California Los Angeles County Long Beach 90802 North Alamitos Beach

1238 E 7th St, Long Beach, CA

Not Listed for Sale

MultiFamily

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