NOT LISTED FOR SALE

1241 E Wesley Dr Long Beach, CA 90806

Sunrise Neighborhood
6 Beds
5 Baths
2,576 Sq Ft
6,534 Sq Ft Lot

Last Sold August 31, 2021

Last sale price $845,000 $328 Per Sq Ft

19 Days on Market

Highlights

  • Bungalow
  • 1-Story Property
  • 3-minute walk to Jenni Rivera Memorial Park
  • Alvarado Elementary Rated 9+

About This Home

As of August 2021

Five unit investment property located within an Opportunity Zone of Long Beach. Listed for a modest $160,000 per unit, this late 1920's construction property consists of six bedrooms and five bathrooms. Every unit stands independent, with no common walls. Four buildings provide one bedroom and one bathroom each. The fifth building, located at the rear of the property, contains two bedrooms and one bathroom. Units are separately metered for gas and electricity. Renovations have included over half of the windows being replaced with double-pane windows and roofs are five years new. Rear alleyway access provides the opportunity to create a minimum of 5 personal parking spaces for tenants. With additional renovations, and the substantial rental upside potential, investors could net an 8.20% cap rate at market rents. *SOLD AS-IS* **DO NOT DISTURB TENANTS**

Last Agent to Sell the Property

John 'Jack' McCann

Lyon Stahl Investment Real Estate, Inc. License #01963932 Listed on: 07/21/2021

Lyon Stahl Investment Real Estate, Inc.

Co-Listed By

Marissa Case

Rise Realty License #02099936

Last Buyer's Agent

Jimmy Thach

Seal Real Estate License #01386221

Home Details

Home Type

  • Single Family

Year Built

  • Built in 1929

Lot Details

  • 6,534 Sq Ft Lot
  • Lot Dimensions are 50x130
  • Property is zoned LBR2N

Home Design

  • Bungalow
  • Fixer Upper

Interior Spaces

  • 2,576 Sq Ft Home
  • 1-Story Property

Bedrooms and Bathrooms

  • 6 Bedrooms
  • 5 Bathrooms

Parking

  • 5 Parking Spaces
  • Public Parking
  • Driveway

Utilities

  • Window Unit Cooling System
  • Heating System Mounted To A Wall or Window

Community Details

  • 5 Units

Listing and Financial Details

  • Tenant pays for gas, electricity
  • The owner pays for water
  • Assessor Parcel Number 7210-040-007

Home Details

Home Type

Single Family

Year Built

Built in 1929

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Style: Bungalow
  • Street Number Display: Yes
  • Additional Assessor Parcel Numbers: No
  • Alley: Yes
  • Living Area: 2576
  • Lot Acreage: 0.1500
  • Lot Dimensions: 50x130
  • Price Per Unit: 160000.00
  • Probate: No
  • Property Condition: Fixer
  • Stories: 1
  • Year Built: 1929
  • State Abbrv: CA
  • Special Features: None
  • Property Sub Type: Detached

Interior Features

  • Bedrooms: 6
  • Common Walls: Detached/No Common Walls
  • Total Bathrooms: 5.00
  • Price Per S Q F T: 310.56

Exterior Features

  • Other Structures: None
  • Paved: Yes

Garage/Parking

  • Parking Garage: Public, Driveway - Concrete
  • Total Parking: 5

Utilities

  • Cooling: Window Unit(s)
  • Heating: Wall
  • Water Heaters: Yes

Lot Info

  • Assessor Parcel Number: 7210-040-007
  • Lot Size Area: 6534

Rental Info

  • Owner Pays: Water
  • Tenant Pays: Gas, Electricity

Multi Family

  • Unit Type: 2106, 2107, 2108, 2109, 2110
  • Gross Rent Multiplier: 20.20
  • Number Of Units: 5
  • Type Of Units: Income
  • Vacancy Allow Percent: 3.00

Range of Values:

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Value Increase
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Percent Increase
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Adjusted for Inflation
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Average Value
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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

Property History

Date Event Price List to Sale Price per Sq Ft
08/31/2021 08/31/21 Sold $845,000 +5.6% $328 / Sq Ft
08/09/2021 08/09/21 Pending -- -- --
07/21/2021 07/21/21 For Sale $800,000 -- $311 / Sq Ft
Source: The MLS

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • John 'Jack' McCann

    Seller's Agent in 2021

    John 'Jack' McCann

    Lyon Stahl Investment Real Estate, Inc.

    (310) 408-0121

    1 in this area

    37 Total Sales

    John 'Jack' McCann
    Section Image
  • Marissa Case

    Seller Co-Listing Agent in 2021

    Marissa Case

    Rise Realty

    (562) 253-3348

    1 in this area

    8 Total Sales

    Marissa Case
    Section Image
  • Jimmy Thach

    Buyer's Agent in 2021

    Jimmy Thach

    Seal Real Estate

    (714) 622-4735

    2 in this area

    62 Total Sales

    Jimmy Thach
    Section Image
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Map

Source: The MLS

MLS Number: 21-763586

The MLS
California Los Angeles County Long Beach 90806 Sunrise

1241 E Wesley Dr, Long Beach, CA

Not Listed for Sale

Detached

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