NOT LISTED FOR SALE
5 Beds
5 Baths
4,712 Sq Ft
7,234 Sq Ft Lot

Sale Details

Date Sold: February 24, 2014

Last sale price $816,000 $173 Per Sq Ft

210 Days on Market

Highlights

  • 0.17 Acre Lot
  • Long Beach Polytechnic High School Rated A
  • Laundry Room

About This Home

As of February 2014

1320-1328 E Florida Street is a 5-unit apartment building located in the Alamitos Beach area of Long Beach. The seller takes excellent care of premises which comprise five exceptionally large 1 bedroom, 1 bath units. Each tenant enjoys their own private laundry room, and four of the five feature bonus space that may be used as an office, guest quarters, or even permanent sleeping area for children. Three units have undergone a complete remodel. Four tenants enjoy personal garages with electric doors and there is room on the lot for one additional parking space. The entire exterior has been painted and shows very well with nice curb appeal. In the rear tenants enjoy a nice courtyard area and the lot is separated on the west by a new six foot high fence with a 2 foot lattice.

Last Agent to Sell the Property

Derek Fowler

Re/Max Commercial & Investment License #01319692 Listed on: 10/02/2013

Last Buyer's Agent

Nune Kajikyan

Nasha Inc. License #01198946

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Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1920

Lot Details

  • 7,234 Sq Ft Lot
  • 1 Common Wall
  • Density is up to 1 Unit/Acre

Parking

  • 4 Car Garage
  • Parking Available
  • Assigned Parking

Home Design

  • Property Attached

Interior Spaces

  • 4,712 Sq Ft Home
  • 2-Story Property
  • Laundry Room

Bedrooms and Bathrooms

  • 5 Bedrooms
  • 5 Bathrooms

Additional Features

  • Urban Location
  • Sewer Paid

Listing and Financial Details

  • Tenant pays for electricity, gas
  • Tax Lot 016
  • Tax Tract Number 9
  • Assessor Parcel Number 7275009016

Community Details

Overview

  • 2 Buildings
  • 5 Units

Amenities

  • Laundry Facilities

Building Details

  • 5 Separate Electric Meters
  • 5 Separate Gas Meters
  • 1 Separate Water Meter
  • Insurance Expense $1,400
  • Maintenance Expense $2,840
  • Professional Management Expense $3,320
  • Trash Expense $505
  • Water Sewer Expense $505
  • New Taxes Expense $10,528
  • Gross Income $5,535
  • Net Operating Income $42,927

Property Details

Home Type

Multi-Family

Year Built

Built in 1920

Lot Details

7,234 Sq Ft Lot

Parking

4

Listing Details

  • CapRate: 5.06
  • Professional Management Expense: 3320.00
  • Property Attached: Yes
  • Subdivision Name Other: Alamitos Beach (AB)
  • Water Sewer Expenses: 505.00
  • Property Type: Residential Income
  • Parcel Number: 7275009016
  • Year Built: 1920
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Stories: 2
  • Common Walls: 1 Common Wall
  • Price Per Square Foot: 173.17

Exterior Features

  • Pool Private: No

Garage/Parking

  • Garage Spaces: 4.00
  • Parking: Yes
  • Parking Features: Assigned
  • Total Parking Spaces: 5.00

Utilities

  • Laundry: Yes
  • Laundry Features: Individual Room
  • Sewer: Sewer Paid
  • Trash Expense: 505.00

Condo/Co-op/Association

  • Community Features: Urban

Lot Info

  • Lot Features: 0-1 Unit/Acre
  • Lot Size Sq Ft: 7234.00
  • Lot Size Acres: 0.1660

Rental Info

  • Tenant Pays: Electricity, Gas

Multi Family

  • Gross Income: 5535.00
  • Gross Multiplier: 12.78
  • Gross Scheduled Income: 66420.00
  • Insurance Expense: 1400.00
  • Lot Size Area: 7234.0000 Square Feet
  • Maintenance Expense: 2840.00
  • Net Operating Income: 42927.00
  • Number Of Separate Electric Meters: 5
  • Number Of Separate Gas Meters: 5
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 5
  • Operating Expense: 21500.00
  • Operating Expense Percent: 32.37
  • Rent Control: No
  • Vacancy Allowance Rate: 3.00

Tax Info

  • New Taxes Expense: 10528.00
  • Tax Lot: 016
  • Tax Tract Number: 009
  • Tax Year: 2012

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
Mar 18, 2024
Sold by
Bought by

Purchase Details

Listed on
Oct 2, 2013
Closed on
Feb 7, 2014
Sold by
Bought by
Seller's Agent
Derek Fowler
Re/Max Commercial & Investment
Buyer's Agent
Nune Kajikyan
Nasha Inc.
List Price
$895,000
Sold Price
$816,000
Premium/Discount to List
-$79,000
-8.83%

Purchase Details

Closed on
Jan 20, 2012
Sold by
Bought by

Purchase Details

Closed on
Apr 11, 2008
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
$465,000
Interest Rate
5.99%
Mortgage Type
Negative Amortization

Purchase Details

Closed on
Feb 27, 2008
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
$465,000
Interest Rate
5.99%
Mortgage Type
Negative Amortization

Purchase Details

Closed on
Apr 20, 2006
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
$370,000
Interest Rate
6.29%
Mortgage Type
Commercial

Purchase Details

Closed on
Apr 20, 2001
Sold by
Bought by

Purchase Details

Closed on
Sep 11, 2000
Sold by
Bought by

Purchase Details

Closed on
Feb 29, 2000
Sold by
Bought by
Source: Public Records

Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Agents Specializing in North Alamitos Beach, CA

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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
-- Pacific Coast Title Company
$816,000 Equity Title Company
-- None Available
-- Accommodation
-- First American Title Ins Co
$700,000 First American Title Ins Co
-- Ticor Title Co Fullerton
$347,000 First American Title Co
$60,000 Lawyers Title
-- Lawyers 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
Previous Owner $465,000
Previous Owner $370,000
Previous Owner $258,750
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
02/24/2014 02/24/14 Sold $816,000 -8.8% $173 / Sq Ft
01/24/2014 01/24/14 Pending -- -- --
06/28/2013 06/28/13 For Sale $895,000 -- $190 / 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 $13,890 $1,000,293 $735,512 $264,781
2024 $13,282 $980,681 $721,091 $259,590
2023 $13,056 $961,452 $706,952 $254,500
2022 $12,269 $942,601 $693,091 $249,510
2021 $12,007 $924,119 $679,501 $244,618
2020 $11,975 $915,164 $672,534 $242,630
2019 $11,836 $897,231 $659,348 $237,883
2018 $11,480 $879,649 $646,420 $233,229
2016 $10,549 $844,994 $621,320 $223,674
2015 $10,133 $832,303 $611,988 $220,315
2014 $9,329 $750,049 $428,600 $321,449
Source: Public Records

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: SB13126173

California Regional Multiple Listing Service (CRMLS)

APN: 7275-009-016

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