Seller's Agent in 2016
Julie Lockwood
RE/MAX
(310) 994-0774
27 Total Sales
1475 Pine Ave Long Beach, CA 90813
Washington School Neighborhood
6
Beds
6
Baths
8,303
Sq Ft
7,500
Sq Ft Lot
Highlights
- Corner Lot
- Long Beach Polytechnic High School Rated A
- No HOA
About This Home
As of June 2016Low Rise Garden Style Value add opportunity in Downtown Long Beach. The building is comprised of 2 Studios, 1 two bedroom, and 9 one bedroom units. This property is located on street-to- alley corner lot, and has been well maintained. The subject property provides 6 one car garages and onsite laundry facility that offer additional rental income.
The property also offers a private common area courtyard and newer landscaping. The property is in a strong rental market with shortage of rental units and a surplus of tenants. Most of the tenants are long term, so there is an opportunity to increase rents. A Higher rent range is also achievable through cosmetic upgrades to the units. The building is located 5 to 10 minutes from the recently updated Pike, and provides easy access to the 405, 110, 710 and 91 freeways.
Last Agent to Sell the Property
Estate Properties License #01269205 Listed on: 05/12/2016
Co-Listed By
Kenneth Colbert
Estate Properties License #01428937
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1959
Lot Details
- 7,500 Sq Ft Lot
- Property fronts an alley
- No Common Walls
- Corner Lot
Parking
- 6 Car Garage
Interior Spaces
- 8,303 Sq Ft Home
- 2-Story Property
Bedrooms and Bathrooms
- 6 Bedrooms
- 6 Bathrooms
Outdoor Features
- Exterior Lighting
Listing and Financial Details
- Tenant pays for cable TV, electricity, gas, HVAC maintenance
- Tax Lot 1
- Tax Tract Number 5754
- Assessor Parcel Number 7269006001
Community Details
Overview
- No Home Owners Association
- 12 Units
Building Details
- 12 Leased Units
- 13 Separate Electric Meters
- 13 Separate Gas Meters
- 1 Separate Water Meter
- Electric Expense $718
- Gardener Expense $1,200
- Insurance Expense $3,700
- Professional Management Expense $6,735
- Trash Expense $1,812
- Water Sewer Expense $2,393
- New Taxes Expense $18,150
- Gross Income $11,530
- Net Operating Income $97,253
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Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 06/24/2016 06/24/16 | Sold | $1,800,000 | +7.5% | $217 / Sq Ft |
| 05/27/2016 05/27/16 | Pending | -- | -- | -- |
| 05/12/2016 05/12/16 | For Sale | $1,675,000 | -- | $202 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
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 | $28,551 | $2,130,830 | $591,896 | $1,538,934 |
| 2024 | $28,551 | $2,089,050 | $580,291 | $1,508,759 |
| 2023 | $27,698 | $2,048,089 | $568,913 | $1,479,176 |
| 2022 | $26,016 | $2,007,931 | $557,758 | $1,450,173 |
| 2021 | $25,459 | $1,968,561 | $546,822 | $1,421,739 |
| 2019 | $25,094 | $1,911,554 | $530,604 | $1,380,950 |
| 2018 | $24,444 | $1,874,100 | $520,200 | $1,353,900 |
| 2016 | $11,016 | $808,450 | $218,750 | $589,700 |
| 2015 | $10,604 | $796,308 | $215,465 | $580,843 |
| 2014 | $10,590 | $780,711 | $211,245 | $569,466 |
Source: Public Records
Agents Affiliated with this Home
-
Julie Lockwood
-
K
Seller Co-Listing Agent in 2016
Kenneth Colbert
RE/MAX
-
Scott Garland
Buyer's Agent in 2016
Scott Garland
Scott Garland
(310) 429-2850
6 Total Sales
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: SB16102303
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The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.
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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