Seller's Agent in 2019
Greg Bassirpou
Marcus & Millichap RE Invest
(949) 419-3269
1 in this area
32 Total Sales
1413 Obispo Ave Long Beach, CA 90804
Zaferia NeighborhoodEstimated Value: $2,059,755 - $2,101,000
3
Beds
2
Baths
5,056
Sq Ft
$411/Sq Ft
Est. Value
Highlights
- Property is near public transit
- Woodrow Wilson High School Rated A
- Laundry Room
About This Home
As of October 2019The Obispo Avenue Apartments is a pride of ownership, six-unit, multi-family community in the City of Long Beach. Located at 1413 Obispo Avenue, this investment presents a stable, low expense, turn-key opportunity with a 5.43% CAP Rate and 8.62% Total Return on current income.
The subject property has two buildings which sit over a 7,426 square foot lot. The front building is comprised of (4) two bedroom/ one bath units, and the rear building is comprised of (2) one bedroom/ one bath units above four garages. The building has recently gone through extensive renovations and upgrades of interiors and exterior. Some of the upgrades include but are not limited to: new cabinetry, new PEX plumbing, updated electrical, granite counter tops, new kitchens, new bathrooms, new windows, new appliances, and new flooring. Some tenant amenities include washer/dryer hookups, ample on-site parking, and enclosed garages.
Last Agent to Sell the Property
Marcus & Millichap RE Invest License #01365951 Listed on: 05/13/2019
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $20,947
Year Built
- Built in 1929
Lot Details
- 7,425 Sq Ft Lot
- No Common Walls
Parking
- 6 Open Parking Spaces
- 4 Car Garage
Home Design
- 5,056 Sq Ft Home
Bedrooms and Bathrooms
- 3 Bedrooms
- 2 Bathrooms
Laundry
- Laundry Room
- Washer and Gas Dryer Hookup
Additional Features
- Exterior Lighting
- Property is near public transit
Listing and Financial Details
- Tax Lot 55
- Tax Tract Number 7
- Assessor Parcel Number 7259023010
Community Details
Overview
- 2 Buildings
- 6 Units
Building Details
- 6 Separate Electric Meters
- 6 Separate Gas Meters
- 1 Separate Water Meter
- Electric Expense $500
- Fuel Expense $500
- Insurance Expense $2,872
- Trash Expense $500
- Water Sewer Expense $500
- New Taxes Expense $17,500
- Operating Expense $25,872
- Gross Income $110,400
- Net Operating Income $81,216
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Closed on
Aug 16, 2019
Sold by
Hajian Morteza and Kazemi Sonia
Bought by
Hair Bender Llc
Current Estimated Value
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$975,000
Interest Rate
3.5%
Mortgage Type
Commercial
Purchase Details
Listed on
Nov 14, 2015
Closed on
Jan 27, 2016
Sold by
Hajian Morteza and Kazemi Sonia
Bought by
The Morteza The Morteza Hajian & Sonia K
Seller's Agent
Charles Finn
Coldwell Banker-Campbell Rltrs
Buyer's Agent
NoEmail NoEmail
NONMEMBER MRML
List Price
$1,049,000
Sold Price
$995,000
Premium/Discount to List
-$54,000
-5.15%
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
8.56%
Original Mortgage
$600,000
Interest Rate
3.98%
Mortgage Type
Commercial
Purchase Details
Listed on
Nov 14, 2015
Closed on
Jan 7, 2016
Sold by
Dillinger Properties Llc
Bought by
The Morteza Hajian & Sonia Kazemi Living
Seller's Agent
Charles Finn
Coldwell Banker-Campbell Rltrs
Buyer's Agent
NoEmail NoEmail
NONMEMBER MRML
List Price
$1,049,000
Sold Price
$995,000
Premium/Discount to List
-$54,000
-5.15%
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$600,000
Interest Rate
3.98%
Mortgage Type
Commercial
Purchase Details
Closed on
Jun 30, 2009
Sold by
Riach Granger and Riach Sherry
Bought by
Dillinger Properties Llc
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$440,000
Interest Rate
5.31%
Mortgage Type
Unknown
Purchase Details
Closed on
May 11, 2007
Sold by
Riach Camille Faye and The Riach Family Trust
Bought by
Riach Granger and Riach Sherry
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$310,000
Interest Rate
6.12%
Mortgage Type
Negative Amortization
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area
Home Values in the Area
Average Home Value in this Area
Purchase History
| Date | Buyer | Sale Price | Title Company |
|---|---|---|---|
| Hair Bender Llc | $1,475,000 | North American Title Company | |
| The Morteza The Morteza Hajian & Sonia K | -- | Accommodation | |
| The Morteza Hajian & Sonia Kazemi Living | $995,000 | Wfg National Title | |
| Dillinger Properties Llc | $635,500 | Lawyers Title | |
| Riach Granger | $700,000 | Lawyers Title |
Source: Public Records
Mortgage History
| Date | Status | Borrower | Loan Amount |
|---|---|---|---|
| Previous Owner | Hair Bender Llc | $975,000 | |
| Previous Owner | Hajian Morteza | $600,000 | |
| Previous Owner | The Morteza Hajian & Sonia Kazemi Living | $600,000 | |
| Previous Owner | Dillinger Properties Llc | $440,000 | |
| Previous Owner | Riach Granger | $310,000 |
Source: Public Records
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 10/25/2019 10/25/19 | Sold | $1,475,000 | -1.3% | $292 / Sq Ft |
| 08/05/2019 08/05/19 | Pending | -- | -- | -- |
| 05/13/2019 05/13/19 | For Sale | $1,495,000 | +50.3% | $296 / Sq Ft |
| 01/29/2016 01/29/16 | Sold | $995,000 | -5.1% | $197 / Sq Ft |
| 11/23/2015 11/23/15 | Pending | -- | -- | -- |
| 11/14/2015 11/14/15 | For Sale | $1,049,000 | -- | $207 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
Tax History Compared to Growth
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 | $20,947 | $1,613,123 | $874,915 | $738,208 |
| 2024 | $20,947 | $1,581,494 | $857,760 | $723,734 |
| 2023 | $20,594 | $1,550,486 | $840,942 | $709,544 |
| 2022 | $19,339 | $1,520,085 | $824,453 | $695,632 |
| 2021 | $18,943 | $1,490,281 | $808,288 | $681,993 |
| 2019 | $13,952 | $1,056,121 | $583,664 | $472,457 |
| 2018 | $13,501 | $1,035,418 | $572,220 | $463,198 |
| 2017 | $13,359 | $1,014,900 | $561,000 | $453,900 |
| 2016 | $8,919 | $692,951 | $218,079 | $474,872 |
| 2015 | $8,574 | $682,543 | $214,804 | $467,739 |
| 2014 | $8,540 | $669,174 | $210,597 | $458,577 |
Source: Public Records
Agents Affiliated with this Home
-
-
Buyer's Agent in 2019
Anthony Walker
Buckingham Investments, Inc
(310) 982-7055
1 in this area
78 Total Sales
-
Seller's Agent in 2016
Charles Finn
Coldwell Banker-Campbell Rltrs
(714) 402-9132
26 Total Sales
-
N
Buyer's Agent in 2016
NoEmail NoEmail
NONMEMBER MRML
(646) 541-2551
5,778 Total Sales
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: OC19111177
APN: 7259-023-010
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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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