NOT LISTED FOR SALE
5 Beds
2 Baths
5,340 Sq Ft
10,055 Sq Ft Lot

Sale Details

Date Sold: October 11, 2021

Last sale price $2,195,000 $411 Per Sq Ft

58 Days on Market

About This Home

As of October 2021

We are pleased to present a 7-unit multifamily property. Built in 1958, the subject property, consists of 5,340 rentable square feet spread throughout a 10,055 square foot lot. The building consists of six 2-bedroom / 1-bathroom units and one 3-bedroom / 1-bathroom unit. It contains ample on-sit parking behind a longgated driveway.
Tenants enjoy living in the Macarthur Park Neighborhood Northeast of Downtown Long Beach, a short distance to local beaches, California State University of Long Beach, as well as shopping, restaurants, and nightlife. The city of Long Beach continues to progress forward and is currently experiencing major redevelopment. The Long Beach port is undergoing $4.4 billion in future redevelopment that will create 14,000 new and permanent jobs in Southern California. The city is undergoing a building boom with more than $5 billion in private and public investments in various stages of development. The new $520 million Long Beach Civic Center development will house a new City Hall, Port of Long Beach headquarters and the Main Library.

Last Agent to Sell the Property

Kevin King

Marcus & Millichap License #01158184 Listed on: 07/20/2021

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Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1958

Lot Details

  • 10,055 Sq Ft Lot
  • Two or More Common Walls
  • Density is 6-10 Units/Acre

Home Design

  • 5,340 Sq Ft Home
  • Property Attached

Bedrooms and Bathrooms

  • 5 Bedrooms
  • 2 Bathrooms

Utilities

  • Septic Type Unknown

Listing and Financial Details

  • Tax Lot 48
  • Tax Tract Number 575201
  • Assessor Parcel Number 7268035017

Community Details

Overview

  • 7 Units
  • Eastside Subdivision

Building Details

  • 7 Separate Electric Meters
  • 7 Separate Gas Meters
  • 1 Separate Water Meter
  • Electric Expense $924
  • Fuel Expense $924
  • Gardener Expense $500
  • Insurance Expense $2,195
  • Maintenance Expense $5,495
  • Other Expense $3,395
  • Professional Management Expense $7,455
  • Trash Expense $924
  • Water Sewer Expense $924
  • New Taxes Expense $27,438
  • Operating Expense $50,173
  • Gross Income $149,173
  • Net Operating Income $99,000

Property Details

Home Type

Multi-Family

Year Built

Built in 1958

Lot Details

10,055 Sq Ft Lot

Listing Details

  • Professional Management Expense: 7455.00
  • Property Attached: Yes
  • Subdivision Name Other: Eastside (ES)
  • Water Sewer Expenses: 923.75
  • Zoning: LBR2N
  • Property Type: Residential Income
  • Gardener Expense: 500.00
  • Parcel Number: 7268035017
  • Year Built: 1958
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Common Walls: 2+ Common Walls
  • Price Per Square Foot: 411.05

Exterior Features

  • Pool Private: No

Utilities

  • Laundry: No
  • Sewer: Public Sewer, Septic Type Unknown, Unknown
  • Trash Expense: 923.75
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No
  • Community Features: Curbs, Sidewalks

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: 6-10 Units/Acre
  • Lot Size Sq Ft: 10055.00
  • Lot Size Acres: 0.2308

Multi Family

  • Electric Expense: 923.75
  • Fuel Expense: 923.75
  • Gross Income: 149173.00
  • Gross Scheduled Income: 151560.00
  • Insurance Expense: 2195.00
  • Laundry Income: 2160.00
  • Lot Size Area: 10055.0000 Square Feet
  • Maintenance Expense: 5495.00
  • Net Operating Income: 99000.00
  • Number Of Separate Electric Meters: 7
  • Number Of Separate Gas Meters: 7
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 7
  • Operating Expense: 50173.00
  • Other Expense: 3395.00
  • Rent Control: No
  • Total Actual Rent: 12630.00
  • Total Expenses: 50173.00

Tax Info

  • New Taxes Expense: 27438.00
  • Tax Census Tract: 5752.01
  • Tax Lot: 48
  • Tax Tract Number: 575201

Ownership 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 Name Owned For Owner Type

Purchase Details

Listed on
Jul 20, 2021
Closed on
Sep 1, 2021
Sold by
Bought by
Seller's Agent
Kevin King
Marcus & Millichap
List Price
$2,195,000
Sold Price
$2,195,000

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,140,000
Interest Rate
2.1%
Mortgage Type
New Conventional

Purchase Details

Listed on
Jul 20, 2021
Closed on
Aug 31, 2021
Sold by
Bought by
Seller's Agent
Kevin King
Marcus & Millichap
List Price
$2,195,000
Sold Price
$2,195,000

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,140,000
Interest Rate
2.1%
Mortgage Type
New Conventional

Purchase Details

Closed on
Jul 28, 2021
Sold by
Bought by

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,140,000
Interest Rate
2.1%
Mortgage Type
New Conventional

Purchase Details

Closed on
Apr 1, 2014
Sold by
Bought by

Purchase Details

Closed on
Nov 12, 2013
Sold by
Bought by

Purchase Details

Closed on
Nov 27, 2009
Sold by
Bought by

Purchase Details

Closed on
Apr 4, 2000
Sold by
Bought by

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$187,500
Interest Rate
8.25%
Mortgage Type
Commercial

Purchase Details

Closed on
Feb 19, 1997
Sold by
Bought by
Source: Public Records

Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

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Purchase 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 Buyer Sale Price Title Company
-- Fidelity National Title
-- Fidelity National Title
$2,195,000 Fidelity National Title
-- None Available
-- None Available
-- None Available
$250,000 First American Title Co
-- --
Source: Public Records

Mortgage 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 Status Borrower Loan Amount
Open $1,335,000
Previous Owner $1,140,000
Previous Owner $350,000
Previous Owner $187,500
Source: Public Records

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
10/11/2021 10/11/21 Sold $2,195,000 0.0% $411 / Sq Ft
09/16/2021 09/16/21 Pending -- -- --
07/20/2021 07/20/21 For Sale $2,195,000 -- $411 / 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
2025 $31,203 $2,329,351 $1,061,208 $1,268,143
2024 $29,873 $2,283,678 $1,040,400 $1,243,278
2023 $29,371 $2,238,900 $1,020,000 $1,218,900
2022 $27,570 $2,195,000 $1,000,000 $1,195,000
2021 $5,618 $354,966 $164,703 $190,263
2019 $5,540 $344,440 $159,819 $184,621
2018 $5,224 $337,687 $156,686 $181,001
2016 $4,795 $324,575 $150,602 $173,973
2015 $4,626 $319,700 $148,340 $171,360
2014 $4,635 $313,439 $145,435 $168,004
Source: Public Records

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PW21159158

California Regional Multiple Listing Service (CRMLS)
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