Seller's Agent in 2019
Robert Stepp
Keller Williams Realty Downey
(310) 463-2916
74 Total Sales
125 E Spring St Long Beach, CA 90806
Memorial Heights Neighborhood
3
Beds
2
Baths
7,056
Sq Ft
7,970
Sq Ft Lot
Highlights
- Laundry Room
- 6 Car Garage
- 5-minute walk to Veterans Park
- Hughes Middle School Rated A-
About This Home
As of December 2019125 Spring Street is a 9-unit investment opportunity in the Wrigley-Memorial Heights neighborhood of Long Beach. Built in 1963, the building features (4) two-bedroom/one-bath units and (5) one-bedroom/one-bath units, as well as (6) garages. Wrigley-Memorial Heights offers commuters quick access to all parts of Long Beach and Greater Los Angeles via major freeways as well as the Metro Blue Line, which runs between Downtown Long Beach and Downtown Los Angeles, with 22 stops along the way. Also in close proximity are employment and retail hubs - the Douglas Park office park and the Long Beach Exchange. The city is also in the midst of planning for the Globemaster Specific Corridor, the 93-acre site formerly home to Boeing’s C-17 manufacturing site. Recently purchased by Goodman Group, plans will potentially encompass commercial and residential projects. This property provides an excellent opportunity for an investor to own an asset with over 18 percent upside potential in a dynamic and growing location. Wrigley Heights is a hidden gem that is well- known for both its name and its tradition as a well-established historic neighborhood. As one of the earliest developments of Long Beach, this neighborhood has seen a lot of change but remains largely untouched by time. Tidy streets lined with palm trees and carefully tended lawns give this area the nostalgic feeling of suburban America.
Last Agent to Sell the Property
Keller Williams Realty Downey License #01456379 Listed on: 08/28/2019
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1963
Lot Details
- 7,970 Sq Ft Lot
- Two or More Common Walls
- Density is 6-10 Units/Acre
Parking
- 6 Car Garage
- Parking Available
Home Design
- 7,056 Sq Ft Home
- Property Attached
Bedrooms and Bathrooms
- 3 Bedrooms
- 2 Bathrooms
Additional Features
- Laundry Room
- Exterior Lighting
- Urban Location
Listing and Financial Details
- Legal Lot and Block 24 / 5
- Tax Tract Number 5722
- Assessor Parcel Number 7206020039
Community Details
Overview
- 9 Units
Building Details
- 9 Separate Electric Meters
- 9 Separate Gas Meters
- 1 Separate Water Meter
- Electric Expense $1,012
- Fuel Expense $1,012
- Gardener Expense $900
- Insurance Expense $2,822
- Maintenance Expense $3,375
- Other Expense $1,575
- Pest Control $500
- Professional Management Expense $6,307
- Trash Expense $1,012
- Water Sewer Expense $1,012
- New Taxes Expense $26,492
- Operating Expense $46,522
- Gross Income $140,163
- Net Operating Income $93,641
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Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 12/06/2019 12/06/19 | Sold | $2,000,000 | -3.6% | $283 / Sq Ft |
| 10/08/2019 10/08/19 | Pending | -- | -- | -- |
| 08/28/2019 08/28/19 | For Sale | $2,075,000 | -- | $294 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
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 | $28,418 | $2,187,288 | $874,915 | $1,312,373 |
| 2024 | $28,418 | $2,144,401 | $857,760 | $1,286,641 |
| 2023 | $27,933 | $2,102,355 | $840,942 | $1,261,413 |
| 2022 | $26,227 | $2,061,133 | $824,453 | $1,236,680 |
| 2021 | $25,684 | $2,020,720 | $808,288 | $1,212,432 |
| 2019 | $13,633 | $995,563 | $347,142 | $648,421 |
| 2018 | $13,220 | $976,052 | $340,336 | $635,716 |
| 2016 | $12,146 | $937,749 | $327,121 | $610,628 |
| 2015 | $11,678 | $923,664 | $322,208 | $601,456 |
| 2014 | $11,635 | $905,572 | $315,897 | $589,675 |
Source: Public Records
Agents Affiliated with this Home
-
Robert Stepp
-
Andrew McAllister
A
Buyer's Agent in 2019
Andrew McAllister
eXp Realty of Greater L.A
(562) 423-8134
17 Total Sales
-
Drew McAllister
Buyer's Agent in 2019
Drew McAllister
Nationwide Real Estate Execs
(562) 528-8105
14 Total Sales
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: PW19205897
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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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