$1,030,000
SOLD JUL 5, 2018
3 Beds
9 Baths
4,109 Sq Ft
8,097 Sq Ft Lot

Recently Sold

$251 Per Sq Ft

10% Below List Price

10 Days on Market

Highlights

  • 8,097 Sq Ft lot
  • Private Yard
  • Laundry Room
  • Long Beach Polytechnic High School Rated A
  • No HOA
  • 5-minute walk to Craftsman Village Park

About This Home

As of June 2021

Long Beach is experiencing explosive growth - don't miss this opportunity to purchase units before prices soar! This is a fantastic buy on a nine unit building in a great rental neighborhood known for its high concentration of Craftsman bungalows, Spanish Colonial Revival and Victorian homes, set right on the edge of all the new development and exciting changes the city is undergoing. Just north of Alamitos beach, a few blocks from the famous Museum of Latin American Art and minutes from downtown, this area is poised to capitalize on the growth spurt....single family homes in the neighborhood are getting snapped up and remodeled as new owners move in and rents are going up up up! Boasting a great unit mix of three one bedroom units and six studios, this building offers great curb appeal, substantial upside in rents, laundry income and lots of off street parking (a must!) including five garages. Tenants enjoy a garden, courtyard and fruit trees. A true find!

Last Agent to Sell the Property

Lorri Quiett

Vylla Home, Inc. License #01371114 Listed on: 05/22/2018

Last Buyer's Agent

Lorri Quiett

Vylla Home, Inc. License #01371114 Listed on: 05/22/2018

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1929

Lot Details

  • 8,097 Sq Ft Lot
  • Two or More Common Walls
  • Landscaped
  • Private Yard
  • Garden

Parking

  • 6 Open Parking Spaces
  • 5 Car Garage
  • Parking Available
  • Assigned Parking

Home Design

  • Property Attached

Interior Spaces

  • 4,109 Sq Ft Home
  • 2-Story Property
  • Laundry Room

Bedrooms and Bathrooms

  • 3 Bedrooms
  • 9 Bathrooms

Additional Features

  • Exterior Lighting
  • Urban Location
  • Sewer Paid

Listing and Financial Details

  • Tax Lot 3
  • Tax Tract Number 5764
  • Assessor Parcel Number 7266001002

Community Details

Overview

  • No Home Owners Association
  • 2 Buildings
  • 9 Units

Amenities

  • Laundry Facilities

Building Details

  • 9 Leased Units
  • 6 Separate Electric Meters
  • 7 Separate Gas Meters
  • 1 Separate Water Meter
  • Insurance Expense $4,976
  • New Taxes Expense $14,312
  • Operating Expense $19,693
  • Gross Income $53,640
  • Net Operating Income $33,947

Property Details

Home Type

Multi-Family

Year Built

Built in 1929

Lot Details

0

Parking

5

Listing Details

  • Assessments: Yes
  • Property Attached: Yes
  • Road Frontage Type: City Street
  • Subdivision Name Other: Hellman Street
  • Zoning: LBR2N
  • Property Type: Residential Income
  • Parcel Number: 7266001002
  • Year Built: 1929
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Stories: 2
  • Common Walls: 2+ Common Walls
  • Levels: Two
  • Price Per Square Foot: 250.67

Exterior Features

  • Pool Private: No

Garage/Parking

  • Garage Spaces: 5.00
  • Parking: Yes
  • Parking Features: Assigned
  • Total Parking Spaces: 11.00
  • Uncovered Spaces: 6.00

Utilities

  • Laundry: Yes
  • Laundry Features: Community
  • Sewer: Sewer Paid
  • Water Source: Public

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Community Features: Sidewalks, Storm Drains, Street Lights, Urban

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: Garden, Landscaped, Yard
  • Lot Size Sq Ft: 8097.00

Multi Family

  • Gross Income: 53640.00
  • Gross Scheduled Income: 53640.00
  • Insurance Expense: 4976.00
  • Net Operating Income: 33947.00
  • Number Of Rented Garages: 5
  • Number Of Separate Electric Meters: 6
  • Number Of Separate Gas Meters: 7
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 9
  • Number Of Units Total: 9
  • Operating Expense: 19693.00
  • Rent Control: No
  • Total Actual Rent: 4400.00
  • Total Expenses: 19693.00

Tax Info

  • New Taxes Expense: 14312.00
  • Tax Census Tract: 5764.02
  • Tax Lot: 3
  • Tax Tract Number: 5764.0

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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 Change Sq Ft Price
06/11/2021 06/11/21 Sold $1,690,000 0.0% $412 / Sq Ft
06/11/2021 06/11/21 Pending -- -- --
02/24/2021 02/24/21 For Sale $1,690,000 +64.1% $412 / Sq Ft
07/05/2018 07/05/18 Sold $1,030,000 -10.0% $251 / Sq Ft
06/01/2018 06/01/18 Pending -- -- --
05/22/2018 05/22/18 For Sale $1,145,000 -- $279 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PW18120310

California Regional Multiple Listing Service (CRMLS)