NOT LISTED FOR SALE
10 Beds
5 Baths
5,384 Sq Ft
1960 Built

Last Sold September 14, 2018

Last sale price $2,000,000 $371 Per Sq Ft

57 Days on Market

Highlights

  • No HOA
  • Long Beach Polytechnic High School Rated A
  • Laundry Room

About This Home

As of September 2018

This pride of ownership property is located in the MacArthur Park neighborhood of Long Beach, just minutes away from Downtown. Extensively renovated in 2018, this 2-story building features Eight (8), 2 Bedroom / 1 Bath Units. The recent renovations to select units include, vinyl and tile flooring, newer appliances, updated bathrooms, and beautiful granite countertops. Exterior renovations include an entire face lift of the property, new drought resistant landscaping, and a courtyard picnic area. Additional, amenities include on-site parking, gated entrance, and on-site laundry room. This prime location offers tenants convenient access to Downtown Long Beach, boutique shopping and dining, and beautiful beaches along the Pacific Coast.

Last Agent to Sell the Property

Patrick Swanson

Pat Swanson License #01382974 Listed on: 05/14/2018

Last Buyer's Agent

Kevin King

Marcus & Millichap License #01158184

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1960

Lot Details

  • 6,524 Sq Ft Lot
  • Two or More Common Walls
  • Density is 6-10 Units/Acre

Home Design

  • Property Attached

Interior Spaces

  • 5,384 Sq Ft Home
  • 2-Story Property
  • Laundry Room

Bedrooms and Bathrooms

  • 10 Bedrooms
  • 5 Bathrooms

Parking

  • 4 Parking Spaces
  • Parking Available
  • Uncovered Parking

Listing and Financial Details

  • Tenant pays for electricity, gas
  • Legal Lot and Block 5 / 2
  • Tax Tract Number 575202
  • Assessor Parcel Number 7261026007

Community Details

Overview

  • No Home Owners Association
  • 8 Units

Amenities

  • Laundry Facilities

Building Details

  • 9 Separate Electric Meters
  • 9 Separate Gas Meters
  • 1 Separate Water Meter
  • Electric Expense $480
  • Insurance Expense $2,066
  • Maintenance Expense $4,000
  • Pest Control $660
  • Water Sewer Expense $5,394
  • New Taxes Expense $25,575
  • Operating Expense $41,600
  • Gross Income $137,657
  • Net Operating Income $96,057

Property Details

Home Type

Multi-Family

Year Built

Built in 1960

Lot Details

0

Listing Details

  • CapRate: 4.58
  • Price Per Unit: 262375
  • Property Attached: Yes
  • Water Sewer Expenses: 5394.00
  • Zoning: LBR2N
  • Property Type: Residential Income
  • Parcel Number: 7261026007
  • Year Built: 1960
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Stories: 2
  • Common Walls: 2+ Common Walls
  • Levels: Two
  • Price Per Square Foot: 371.47

Exterior Features

  • Pool Private: No

Garage/Parking

  • Parking: Yes
  • Parking Features: On Site, Uncovered
  • Total Parking Spaces: 4.00

Utilities

  • Laundry: Yes
  • Laundry Features: Community
  • Pest Control Expense: 660.00
  • Sewer: Public Sewer
  • Water Source: Public

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Community Features: Sidewalks

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: 6-10 Units/Acre
  • Lot Size Sq Ft: 6524.00

Rental Info

  • Tenant Pays: Electricity, Gas

Multi Family

  • Electric Expense: 480.00
  • Gross Income: 137657.00
  • Gross Operating Income: 135257.00
  • Gross Scheduled Income: 139440.00
  • Insurance Expense: 2066.00
  • Laundry Income: 2400.00
  • Maintenance Expense: 4000.00
  • Net Operating Income: 96057.00
  • Number Of Separate Electric Meters: 9
  • Number Of Separate Gas Meters: 9
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 8
  • Operating Expense: 41600.00
  • Other Income1: 3600.00
  • Other Income Description: parking spaces
  • Rent Control: No
  • Total Expenses: 41600.00

Tax Info

  • New Taxes Expense: 25575.00
  • Tax Block: 2
  • Tax Census Tract: 5752.02
  • Tax Lot: 5
  • Tax Tract Number: 575202

Range of Values:

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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

Property History

Date Event Price Change Sq Ft Price
09/14/2018 09/14/18 Sold $2,000,000 -2.4% $371 / Sq Ft
06/22/2018 06/22/18 Price Changed $2,049,000 -2.4% $381 / Sq Ft
05/14/2018 05/14/18 For Sale $2,099,000 0.0% $390 / Sq Ft
04/21/2018 04/21/18 For Rent $1,495 0.0% --
04/19/2018 04/19/18 Rented $1,495 0.0% --
04/17/2018 04/17/18 Off Market $1,495 -- --
04/16/2018 04/16/18 For Rent $1,495 0.0% --
04/12/2018 04/12/18 Off Market $1,495 -- --
04/03/2018 04/03/18 For Rent $1,495 -2.0% --
03/12/2018 03/12/18 Rented $1,525 0.0% --
03/07/2018 03/07/18 Off Market $1,525 -- --
03/07/2018 03/07/18 Price Changed $1,525 -1.6% $2 / Sq Ft
01/25/2018 01/25/18 For Rent $1,550 -- --
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: OC18113884

California Regional Multiple Listing Service (CRMLS)