NOT LISTED FOR SALE

1325 E Ocean Blvd Long Beach, CA 90802

Alamitos Beach Neighborhood
6 Beds
3 Baths
8,786 Sq Ft
8,266 Sq Ft Lot

Last Sold May 16, 2019

Last sale price $3,312,500 $377 Per Sq Ft

58 Days on Market

Highlights

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

About This Home

As of May 2019

We are pleased to present an eight unit multi-family community located at in Long Beach, CA 90802. Located right in the heart of Alamitos Beach, the subject property was built in two phases, the first building in 1914 and the rear building in the 1980s. The buidilng consists of approximately 8,786 rentable square feet on an approximately 8,265 square foot lot. The building consists of six large two bedroom / one bathroom units, one large one bedroom / one bathroom unit, and one three bedroom / one bathroom unit.
The building has undergone some recent renovation, with new paint, new cabinetry, new countertops, new flooring, and new landscaping just some of the upgrades recently completed. The units are very large and four of them have washer/dryer hookups inside their units, while three have private patios, and there is also an on-site laundry room for tenant’s convenience.
Furthermore, with a “Walk Score” of 70, this location is deemed to be “very walkable” where most errands can be accomplished by foot. The tenants benefit from its proximity to Downtown Long Beach and Alamitos Beach, with the many restaurants, shops and various other entertainment options all within a short walk or bike ride from the property. This is an absolutely incredible opportunity to acquire a turn-key, true pride of ownership multi family asset in one of the most desirable locations in the city and would be a great addition to any investor’s portfolio.

Last Agent to Sell the Property

Kevin King

Marcus & Millichap License #01158184 Listed on: 03/05/2019

Co-Listed By

Ryan Gonzalez

Lyon Stahl Investment Real Est License #01874815

Last Buyer's Agent

NoEmail NoEmail

NONMEMBER MRML

NONMEMBER MRML

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1914

Lot Details

  • 8,266 Sq Ft Lot
  • Two or More Common Walls
  • Density is 6-10 Units/Acre

Home Design

  • Property Attached

Interior Spaces

  • 8,786 Sq Ft Home
  • 2-Story Property

Bedrooms and Bathrooms

  • 6 Bedrooms
  • 3 Bathrooms

Laundry

  • Laundry Room
  • Washer and Gas Dryer Hookup

Utilities

  • Septic Type Unknown

Listing and Financial Details

  • Tax Lot 17
  • Tax Tract Number 576602
  • Assessor Parcel Number 7265014038

Community Details

Overview

  • 8 Units

Building Details

  • 8 Separate Electric Meters
  • 8 Separate Gas Meters
  • 1 Separate Water Meter
  • Electric Expense $1,323
  • Fuel Expense $1,323
  • Insurance Expense $6,900
  • Maintenance Expense $5,400
  • Other Expense $2,500
  • Professional Management Expense $8,871
  • Trash Expense $1,323
  • Water Sewer Expense $1,323
  • New Taxes Expense $44,387
  • Operating Expense $73,350
  • Gross Income $221,778
  • Net Operating Income $146,428

Property Details

Home Type

Multi-Family

Year Built

Built in 1914

Lot Details

0

Listing Details

  • Professional Management Expense: 8871.00
  • Property Attached: Yes
  • Subdivision Name Other: Alamitos Beach (AB)
  • Water Sewer Expenses: 1323.00
  • Zoning: LBR4R
  • Property Type: Residential Income
  • Parcel Number: 7265014038
  • Year Built: 1914
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Stories: 2
  • Common Walls: 2+ Common Walls
  • Levels: Two
  • Price Per Square Foot: 377.02

Exterior Features

  • Pool Private: No

Utilities

  • Laundry: Yes
  • Laundry Features: Gas Dryer Hookup, Washer Hookup
  • Sewer: Public Sewer, Septic Type Unknown, Unknown
  • Trash Expense: 1323.00
  • 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: 8266.00
  • Lot Size Acres: 0.1898

Multi Family

  • Electric Expense: 1323.00
  • Fuel Expense: 1323.00
  • Gross Income: 221778.00
  • Gross Scheduled Income: 227400.00
  • Insurance Expense: 6900.00
  • Laundry Income: 1200.00
  • Lot Size Area: 8266.0000 Square Feet
  • Maintenance Expense: 5400.00
  • Net Operating Income: 146428.00
  • Number Of Separate Electric Meters: 8
  • Number Of Separate Gas Meters: 8
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 8
  • Operating Expense: 73350.00
  • Other Expense: 2500.00
  • Other Expense Description: Misc/AD
  • Rent Control: No
  • Total Actual Rent: 18950.00
  • Total Expenses: 73350.00

Tax Info

  • New Taxes Expense: 44387.00
  • Tax Census Tract: 5766.02
  • Tax Lot: 17
  • Tax Tract Number: 576602

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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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
05/16/2019 05/16/19 Sold $3,312,500 -6.9% $377 / Sq Ft
05/02/2019 05/02/19 Pending -- -- --
03/05/2019 03/05/19 For Sale $3,558,000 -- $405 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

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 $46,870 $3,695,152 $2,579,635 $1,115,517
2024 $46,870 $3,622,699 $2,529,054 $1,093,645
2023 $45,043 $3,551,666 $2,479,465 $1,072,201
2022 $43,129 $3,482,027 $2,430,849 $1,051,178
2021 $42,275 $3,413,753 $2,383,186 $1,030,567
2019 $31,333 $2,458,810 $1,836,000 $622,810
2018 $7,351 $490,137 $286,274 $203,863
2017 $7,274 $479,929 $280,661 $199,268
2016 $6,720 $470,519 $275,158 $195,361
2015 $6,479 $463,452 $271,025 $192,427
2014 $6,478 $454,374 $265,716 $188,658
Source: Public Records

Agents Affiliated with this Home

  • Kevin King

    Seller's Agent in 2019

    Kevin King

    Marcus & Millichap

    (562) 257-1245

    40 Total Sales

    Kevin King
    Section Image

  • R

    Seller Co-Listing Agent in 2019

    Ryan Gonzalez

    Lyon Stahl Investment Real Est

    (562) 879-3206

    19 Total Sales

    Ryan Gonzalez
    Section Image

  • N

    Buyer's Agent in 2019

    NoEmail NoEmail

    NONMEMBER MRML

    (646) 541-2551

    2 in this area

    6,219 Total Sales

    NoEmail NoEmail
    Section Image
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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PW19049751

California Regional Multiple Listing Service (CRMLS)
California Los Angeles County Long Beach 90802 Alamitos Beach

1325 E Ocean Blvd, Long Beach, CA

Not Listed for Sale

MultiFamily

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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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