NOT LISTED FOR SALE

Estimated Value: $989,000 - $1,006,000

3 Beds
4 Baths
2,275 Sq Ft
$439/Sq Ft Est. Value

Last Sold February 15, 2012

Last sale price $350,900 $154 Per Sq Ft

Est. 186% increase in value since last sale

Current estimated payment $6,013/month

57 Days on Market

Highlights

  • Spanish Architecture
  • Auto Driveway Gate
  • Heating System Uses Natural Gas
  • Long Beach Polytechnic High School Rated A
  • Wood Siding
  • 4-minute walk to Craftsman Village Park

About This Home

As of February 2012

This is the classic Spanish 4plex income property. The front house is 2 bedrooms with 1 bathroom, it has a newer kitchen, a nice breakfast nook with hardwood floors throughout. Behind it is large 1 bed 1 bath, these two units are only attached by the structure housing the waterheaters, so there is amply privacy for your tenants, or a perfect situation if you wanted to live in the front house. At the back of the property there are two more units, a 1bed 1bath built on the ground floor next to the garage, with a stairway leading up to an apartment built over the garage and the unit below. This property sits in the middle of a very strong rental market and has a history of long tenancy . . . perfect for a first time investor OR for an owner who wants to live in the nicely improved front house.

Last Agent to Sell the Property

William Allen

Queen City Realty License #01240136 Listed on: 11/30/2011

Last Buyer's Agent

Flor Martinez

Century 21 Masters License #01302500

Century 21 Masters

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $6,194

Year Built

  • Built in 1937

Lot Details

  • 5,837 Sq Ft Lot

Home Design

  • 2,275 Sq Ft Home
  • Spanish Architecture
  • Wood Siding
  • Stucco

Parking

  • 6 Car Garage
  • Rear-Facing Garage
  • Auto Driveway Gate

Utilities

  • Heating System Uses Natural Gas
  • Wall Furnace

Listing and Financial Details

  • Tenant pays for gas, water
  • Tax Block I
  • Tax Tract Number 1950
  • Assessor Parcel Number 7267022015

Community Details

Overview

  • 2 Buildings
  • 4 Units

Building Details

  • 4 Separate Electric Meters
  • 4 Separate Gas Meters
  • 4 Separate Water Meters
  • Electric Expense $960
  • Insurance Expense $2,500
  • New Taxes Expense $4,375
  • Gross Income $3,600
  • Net Operating Income $29,376

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$6,194

Year Built

Built in 1937

Lot Details

0

Listing Details

  • Assessments: No
  • CapRate: 8.37
  • View: No
  • Architectural Style: Spanish
  • Property Type: Residential Income
  • Parcel Number: 7267022015
  • Year Built: 1937
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Fireplace: No
  • Appliances: No
  • Price Per Square Foot: 154.24

Exterior Features

  • Pool Private: No
  • Spa: No
  • Construction Materials: Stucco, Wood Siding

Garage/Parking

  • Parking: No
  • Parking Features: Auto Driveway Gate, Garage Faces Rear
  • Total Parking Spaces: 6.00

Utilities

  • Utilities: Water Connected
  • Heating: Yes
  • Laundry: No
  • Heating Type: Natural Gas, Wall Furnace

Condo/Co-op/Association

  • Senior Community: No

Lot Info

  • Lot Size Sq Ft: 5837.00
  • Lot Size Acres: 0.1340

Rental Info

  • Tenant Pays: Gas, Water

Multi Family

  • Electric Expense: 960.00
  • Gross Income: 3600.00
  • Gross Multiplier: 8.12
  • Gross Scheduled Income: 43200.00
  • Insurance Expense: 2500.00
  • Lot Size Area: 5837.0000 Square Feet
  • Net Operating Income: 29376.00
  • Number Of Separate Electric Meters: 4
  • Number Of Separate Gas Meters: 4
  • Number Of Separate Water Meters: 4
  • Number Of Units Total: 4
  • Operating Expense: 13824.00

Tax Info

  • New Taxes Expense: 4375.00
  • Tax Area: 11933
  • Tax Block: I
  • Tax Lot: 0.
  • Tax Tract Number: 1950

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Jul 21, 2016
Sold by
Macias Yesenia
Bought by
Macias Yesenia and The Yesenia Macias 2016 Trust
Current Estimated Value
$1,004,000

Purchase Details

Listed on
Nov 30, 2011
Closed on
Mar 9, 2012
Sold by
Federal National Mortgage Association
Bought by
Macias Yesenia
Seller's Agent
William Allen
Queen City Realty
Buyer's Agent
Flor Martinez
Century 21 Masters
List Price
$350,900
Sold Price
$350,900

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
8.06%
Original Mortgage
$360,190
Interest Rate
3.83%
Mortgage Type
FHA

Purchase Details

Closed on
Aug 30, 2011
Sold by
Lopez Luis Miguel
Bought by
Federal National Mortgage Association

Purchase Details

Closed on
May 7, 2002
Sold by
Castillo Maria Trinidad
Bought by
Lopez Luis Miguel

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$188,000
Interest Rate
6.74%

Purchase Details

Closed on
Aug 20, 1998
Sold by
Weber Theodore D
Bought by
Lopez Luis Miguel and Castillo Mari Trinidad

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$160,924
Interest Rate
6.42%
Mortgage Type
FHA

Purchase Details

Closed on
Oct 21, 1995
Sold by
Weber David P R
Bought by
Weber Theodore D F
Source: Public Records

Range of Values:

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Average Value
Not Available
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

Date Buyer Sale Price Title Company
Macias Yesenia -- None Available
Macias Yesenia -- None Available
Macias Yesenia $351,000 Lawyers Title Company
Federal National Mortgage Association $273,800 Landsafe Title
Lopez Luis Miguel -- Stewart Title
Lopez Luis Miguel -- First American Title Co
Weber Theodore D F -- --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Macias Yesenia $250,000
Closed Macias Yesenia $75,000
Closed Macias Yesenia $358,858
Closed Macias Yesenia $360,190
Previous Owner Lopez Luis Miguel $360,000
Previous Owner Lopez Luis Miguel $45,000
Previous Owner Lopez Luis Miguel $188,000
Previous Owner Lopez Luis Miguel $160,924
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
02/15/2012 02/15/12 Sold $350,900 0.0% $154 / Sq Ft
01/26/2012 01/26/12 Pending -- -- --
11/30/2011 11/30/11 For Sale $350,900 -- $154 / 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 $6,194 $440,738 $307,728 $133,010
2024 $6,194 $432,097 $301,695 $130,402
2023 $6,085 $423,626 $295,780 $127,846
2022 $5,728 $415,321 $289,981 $125,340
2021 $5,601 $407,179 $284,296 $122,883
2019 $5,522 $395,563 $275,864 $119,699
2018 $5,297 $387,816 $270,455 $117,361
2016 $4,877 $372,315 $259,953 $112,362
2015 $4,690 $366,724 $256,049 $110,675
2014 $4,677 $359,542 $251,034 $108,508
Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: P804829

California Regional Multiple Listing Service (CRMLS)

APN: 7267-022-015