NOT LISTED FOR SALE

Estimated Value: $1,482,000 - $1,757,173

7 Beds
6 Baths
3,432 Sq Ft
$472/Sq Ft Est. Value

Sale Details

Date Sold: January 28, 2016

Last sale price $1,030,000 $300 Per Sq Ft

Est. 57% increase in value since last sale

Current estimated payment $10,329 / mo

31 Days on Market

Highlights

  • Wood Flooring
  • Accessible Parking
  • Space Heater
  • Woodrow Wilson High School Rated A
  • Laundry Facilities

About This Home

As of January 2016

First time on the market in 12+ years. Well maintained rental property in a quiet East Long Beach Neighborhood. Walk to shopping, restaurants, a Recreation Park Golf Course. 6 Units, previously sold as 5. 6th address was permitted in 2006 by City of Long Beach, and is non-conforming. Near CSULB bus pick-up, and very easy to rent. 4 garages, 4 parking spots, and easy street parking.

Last Agent to Sell the Property

Barry Knight

BMK Properties License #01874710 Listed on: 11/26/2015

Last Buyer's Agent

Robert Stepp

Keller Williams Realty Downey License #01456379

Keller Williams Realty Downey

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1928

Lot Details

  • 5,054 Sq Ft Lot
  • No Common Walls
  • Block Wall Fence
  • Redwood Fence

Parking

  • 4 Car Garage
  • Parking Available
  • Assigned Parking

Home Design

  • Composition Roof
  • Redwood Siding

Interior Spaces

  • 3,432 Sq Ft Home
  • 2-Story Property

Flooring

  • Wood
  • Carpet
  • Tile
  • Vinyl

Bedrooms and Bathrooms

  • 7 Bedrooms
  • 6 Bathrooms

Laundry

  • Dryer
  • Washer

Outdoor Features

  • Exterior Lighting
  • Rain Gutters

Utilities

  • Space Heater
  • Heating System Uses Natural Gas
  • Cable TV Available

Additional Features

  • Accessible Parking
  • Urban Location

Listing and Financial Details

  • Tenant pays for cable TV, electricity, gas, trash collection
  • Tax Lot 62
  • Tax Tract Number 5750
  • Assessor Parcel Number 7220015005

Community Details

Overview

  • 2 Buildings
  • 6 Units

Amenities

  • Laundry Facilities

Building Details

  • 6 Separate Electric Meters
  • 5 Separate Gas Meters
  • 1 Separate Water Meter
  • Electric Expense $1,045
  • Gardener Expense $25
  • Insurance Expense $1,161
  • Professional Management Expense $4,137
  • Trash Expense $650
  • Water Sewer Expense $1,233
  • New Taxes Expense $12,187
  • Gross Income $74,600
  • Net Operating Income $45,954

Property Details

Home Type

Multi-Family

Year Built

Built in 1928

Lot Details

5,054 Sq Ft Lot

Parking

4

Listing Details

  • Inclusions: All appliances, coin-op laundry equipment.
  • Professional Management Expense: 4137.00
  • Property Attached: No
  • Road Frontage Type: City Street
  • Subdivision Name Other: Circle (CA)
  • View: No
  • Water Sewer Expenses: 1233.00
  • Property Type: Residential Income
  • Gardener Expense: 25.00
  • Parcel Number: 7220015005
  • Year Built: 1928
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Stories: 2
  • Common Walls: No Common Walls
  • Flooring: Carpet, Tile, Vinyl, Wood
  • Accessibility Features: Parking
  • Levels: Two
  • Price Per Square Foot: 300.12

Exterior Features

  • Exterior Features: Rain Gutters
  • Fencing: Block, Redwood
  • Pool Private: No
  • Roof: Composition
  • Construction Materials: Redwood Siding

Garage/Parking

  • Garage Spaces: 4.00
  • Parking: Yes
  • Parking Features: Assigned
  • Total Parking Spaces: 12.00

Utilities

  • Utilities: Cable Available, Sewer Available, Water Connected
  • Heating: Yes
  • Laundry: Yes
  • Electric: Electricity - On Property
  • Heating Type: Natural Gas, Space Heater
  • Laundry Features: Community, Dryer Included, Washer Included
  • Trash Expense: 650.00
  • Water Source: Public

Condo/Co-op/Association

  • Community Features: Gutters, Sidewalks, Street Lights, Storm Drains, Urban

Lot Info

  • Lot Size Sq Ft: 5054.00
  • Price Per Lot Square Foot: 203.80
  • Lot Size Acres: 0.1160

Rental Info

  • Tenant Pays: Cable TV, Electricity, Gas, Trash Collection

Multi Family

  • Average1 Bed Area: 650
  • Average2 Bed Area: 700
  • Electric Expense: 1045.00
  • Gross Income: 74600.00
  • Gross Multiplier: 13.50
  • Gross Scheduled Income: 73800.00
  • Insurance Expense: 1161.00
  • Laundry Equipment Own Lease: Own
  • Lot Size Area: 5054.0000 Square Feet
  • Net Operating Income: 45954.00
  • Number Of Separate Electric Meters: 6
  • Number Of Separate Gas Meters: 5
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 6
  • Number With Range: 6
  • Number With Refrigerator: 5
  • Operating Expense: 27846.00
  • Rent Control: No

Tax Info

  • New Taxes Expense: 12187.00
  • Tax Lot: 62
  • Tax Tract Number: 5750.0

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

Closed on
Oct 13, 2016
Sold by
Bought by
Current Estimated Value
$1,619,587

Purchase Details

Listed on
Nov 26, 2015
Closed on
Jan 22, 2016
Sold by
Bought by
Seller's Agent
Barry Knight
BMK Properties
Buyer's Agent
Robert Stepp
Keller Williams Realty Downey
List Price
$975,000
Sold Price
$1,030,000
Premium/Discount to List
$55,000
5.64%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
4.40%
Original Mortgage
$650,000
Interest Rate
0.0393%
Mortgage Type
Commercial

Purchase Details

Listed on
Nov 26, 2015
Closed on
Dec 9, 2015
Sold by
Bought by
Seller's Agent
Barry Knight
BMK Properties
Buyer's Agent
Robert Stepp
Keller Williams Realty Downey
List Price
$975,000
Sold Price
$1,030,000
Premium/Discount to List
$55,000
5.64%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$650,000
Interest Rate
0.0393%
Mortgage Type
Commercial

Purchase Details

Closed on
Mar 3, 2005
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
$460,000
Interest Rate
0.0565%
Mortgage Type
Commercial

Purchase Details

Closed on
Feb 11, 2003
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
$347,400
Interest Rate
0.0572%
Mortgage Type
Commercial

Purchase Details

Closed on
Jul 31, 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
$273,050
Interest Rate
0.0816%
Mortgage Type
Seller Take Back
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
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

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
-- None Available
-- Lawyers Title
$1,030,000 Lawyers Title
-- North American Title Co
$579,000 North American Title Co
$349,000 Chicago Title
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 $1,300,000
Previous Owner $650,000
Previous Owner $650,000
Previous Owner $460,000
Previous Owner $347,400
Previous Owner $273,050
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
01/28/2016 01/28/16 Sold $1,030,000 +5.6% $300 / Sq Ft
12/01/2015 12/01/15 Pending -- -- --
10/31/2015 10/31/15 For Sale $975,000 -- $284 / 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 $18,045 $1,334,667 $852,331 $482,336
2024 $15,828 $1,195,398 $835,619 $359,779
2023 $15,558 $1,171,960 $819,235 $352,725
2022 $14,607 $1,148,981 $803,172 $345,809
2021 $14,309 $1,126,453 $787,424 $339,029
2020 $14,272 $1,114,903 $779,350 $335,553
2019 $14,104 $1,154,844 $811,512 $343,332
2018 $13,718 $1,071,612 $749,088 $322,524
2016 $8,902 $708,376 $463,688 $244,688
2015 $8,552 $697,736 $456,723 $241,013
2014 $8,510 $684,069 $447,777 $236,292
Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PW15237023

California Regional Multiple Listing Service (CRMLS)

APN: 7220-015-005

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