NOT LISTED FOR SALE
7 Beds
2 Baths
8,790 Sq Ft
0.3 Acre Lot

Sale Details

Date Sold: October 30, 2020

Last sale price $2,468,000 $281 Per Sq Ft

138 Days on Market

Highlights

  • 0.3 Acre Lot
  • Fireplace in Primary Bedroom
  • Forced Air Heating System
  • Long Beach Polytechnic High School Rated A
  • Park
  • 7 Car Garage

About This Home

As of October 2020

Property Highlights:
• Over 20% Upside in Rents
• All 3BR & 4BR Units
• Gated Property with Private Garden Area
• $35,000 Invested in Improvements Since 2018
• New Roof & Exterior Paint
• 8 Garages & 1 Storage Room

Last Agent to Sell the Property

Peter Gillin

Morgan Skenderian License #01433769 Listed on: 04/17/2020

Last Buyer's Agent

Yvonne Matloff

TSE REALTY & MANAGEMENT SERVIC License #00908463

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Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $30,853

Year Built

  • Built in 1971

Lot Details

  • 13,015 Sq Ft Lot
  • Two or More Common Walls
  • Density is 6-10 Units/Acre

Parking

  • 7 Car Garage
  • 3 Carport Spaces
  • Parking Available

Home Design

  • Apartment

Interior Spaces

  • 8,790 Sq Ft Home
  • 2-Story Property
  • Living Room with Fireplace
  • Dining Room with Fireplace
  • Bonus Room with Fireplace

Bedrooms and Bathrooms

  • 7 Bedrooms
  • Fireplace in Primary Bedroom
  • 2 Bathrooms
  • Fireplace in Bathroom

Outdoor Features

  • Rain Gutters

Utilities

  • Cooling System Mounted To A Wall/Window
  • Forced Air Heating System
  • Natural Gas Connected
  • Phone Available
  • Cable TV Available

Listing and Financial Details

  • Tax Lot 17
  • Assessor Parcel Number 7261016032

Community Details

Recreation

  • Park

Building Details

  • 8 Separate Electric Meters
  • 8 Separate Gas Meters
  • 1 Separate Water Meter
  • Insurance Expense $2,637
  • Maintenance Expense $14,549
  • Other Expense $1,688
  • Professional Management Expense $3,600
  • Trash Expense $3,035
  • Water Sewer Expense $3,034
  • New Taxes Expense $30,853
  • Operating Expense $59,396
  • Gross Income $176,404
  • Net Operating Income $117,008

Additional Features

  • 8 Units
  • Laundry Facilities

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$30,853

Year Built

Built in 1971

Lot Details

0.3 Acres

Parking

7

Listing Details

  • Assessments: No
  • CapRate: 4.60
  • Professional Management Expense: 3600.00
  • Property Attached: Yes
  • Water Sewer Expenses: 3034.00
  • Zoning: LBR2N
  • Property Type: Residential Income
  • Parcel Number: 7261016032
  • Year Built: 1971
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Fireplace: Yes
  • Stories: 2
  • Common Walls: 2+ Common Walls
  • Fireplace Features: Bath, Bonus Room, Dining Room, Living Room, Master Bedroom
  • Levels: Two
  • Price Per Square Foot: 280.77

Exterior Features

  • Pool Private: No
  • Spa: No

Garage/Parking

  • Carport Spaces: 3.00
  • Garage Spaces: 7.00
  • Parking: Yes
  • Parking Features: Carport, Garage
  • Total Parking Spaces: 10.00

Utilities

  • Utilities: Cable Available, Electricity Connected, Natural Gas Connected, Phone Available, Sewer Connected, Water Connected
  • Heating: Yes
  • Laundry: Yes
  • Heating Type: Forced Air
  • Laundry Features: Community
  • Sewer: Public Sewer
  • Trash Expense: 3035.00
  • Water Source: Public
  • Cooling: Wall/Window Unit(s)
  • Cooling: Yes

Condo/Co-op/Association

  • Senior Community: No
  • Common Interest: Community Apartment
  • Community Features: Curbs, Gutters, Park, Sidewalks

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: 6-10 Units/Acre
  • Lot Size Sq Ft: 13015.00
  • Lot Size Acres: 0.2988

Multi Family

  • Average3 Bed Area: 900 Square Feet
  • Gross Multiplier: 14.02
  • Gross Operating Income: 176404.00
  • Gross Scheduled Income: 181860.00
  • Gross Spendable Income: 62693.00
  • Insurance Expense: 2637.00
  • Laundry Income: 1200.00
  • Lot Size Area: 13015.0000 Square Feet
  • Maintenance Expense: 14549.00
  • Maintenance Percent: 8.00
  • Net Operating Income: 117008.00
  • Number Of Rented Garages: 7
  • 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: 59396.00
  • Operating Expense Percent: 32.70
  • Other Expense: 1688.00
  • Other Expense Description: Assess.
  • Rent Control: No
  • Total Expenses: 59396.00
  • Vacancy Allowance Rate: 3.00

Tax Info

  • New Taxes Expense: 30853.00
  • Tax Census Tract: 5752.02
  • Taxes Percent: 1.20
  • Tax Lot: 17
  • Tax Rate: 1.20
  • Tax Annual Amount: 30853.00
  • Tax Year: 2019

Ownership History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Name Owned For Owner Type

Purchase Details

Closed on
Apr 22, 2020
Sold by
Brassard Philippe and Ferfon Delina Brassard
Bought by

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,234,000
Interest Rate
2.9%
Mortgage Type
Construction

Purchase Details

Closed on
Aug 30, 2001
Sold by
Brassard M G M and Brassard Maurice G
Bought by
Brassard M G and The M G Brassard Living Trust

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$427,500
Interest Rate
7%
Mortgage Type
Commercial
Source: Public Records

Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

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Purchase History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Buyer Sale Price Title Company
$2,468,000 Ticor Title Company Of Ca
Brassard M G -- Benefit Land Title
Source: Public Records

Mortgage History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Status Borrower Loan Amount
Previous Owner $1,234,000
Previous Owner Brassard M G $940,000
Previous Owner Brassard M G $983,000
Previous Owner Brassard M G $550,000
Previous Owner Brassard M G $427,500
Source: Public Records

Property History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Event Price List to Sale Price per Sq Ft
10/30/2020 10/30/20 Sold $2,468,000 -3.2% $281 / Sq Ft
09/02/2020 09/02/20 Pending -- -- --
08/10/2020 08/10/20 For Sale $2,550,000 +3.3% $290 / Sq Ft
04/22/2020 04/22/20 Off Market $2,468,000 -- --
04/17/2020 04/17/20 For Sale $2,550,000 -- $290 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

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
2026 $36,002 $2,724,868 $1,766,527 $958,341
2025 $36,002 $2,671,440 $1,731,890 $939,550
2024 $34,399 $2,619,060 $1,697,932 $921,128
2023 $33,824 $2,567,707 $1,664,640 $903,067
2022 $31,756 $2,517,360 $1,632,000 $885,360
2021 $31,108 $2,468,000 $1,600,000 $868,000
2019 $14,111 $1,026,744 $485,075 $541,669
2018 $13,629 $1,006,613 $475,564 $531,049
2016 $12,504 $967,528 $457,099 $510,429
2015 $12,024 $952,995 $450,233 $502,762
2014 $11,975 $934,328 $441,414 $492,914
Source: Public Records

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PW20076580

California Regional Multiple Listing Service (CRMLS)
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