NOT LISTED FOR SALE

148 Covina Ave Long Beach, CA 90803

Belmont Shore Neighborhood

Estimated Value: $1,915,000 - $2,247,115

6 Beds
4 Baths
2,856 Sq Ft
$728/Sq Ft Est. Value

Last Sold March 05, 2013

Last sale price $1,250,000 $438 Per Sq Ft

Est. 66% increase in value since last sale

Current estimated payment $12,670/month

578 Days on Market

Highlights

  • Traditional Architecture
  • Naples Bayside Academy Rated A
  • No Heating

About This Home

As of March 2013

Pride of ownership. OWNER WILL CARRY! Rare mix with 3 - 2 bedrooms + one large studio. Extensive upgrades in the last few years. Would make a great home and income. Located in the 100 block of Covina in between the ocean and the night life on 2nd street. See Agent Remarks!!

Last Agent to Sell the Property

Marty Stone

Buckingham Investments License #00416755 Listed on: 07/03/2011

Last Buyer's Agent

John Gazdik

Real Estate West, Inc. License #00551752

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1963

Lot Details

  • 2,570

Parking

  • 2 Parking Spaces

Home Design

  • 2,856 Sq Ft Home
  • Traditional Architecture
  • Brick Exterior Construction
  • Stucco

Bedrooms and Bathrooms

  • 6 Bedrooms
  • 4 Bathrooms

Utilities

  • No Heating

Listing and Financial Details

  • Tax Lot 20
  • Tax Tract Number 3885
  • Assessor Parcel Number 7247007019

Community Details

Overview

  • 4 Units

Building Details

  • 4 Separate Electric Meters
  • 4 Separate Gas Meters
  • 1 Separate Water Meter
  • Insurance Expense $1,800
  • Water Sewer Expense $1,800
  • New Taxes Expense $13,320
  • Gross Income $5,660
  • Net Operating Income $48,720

Property Details

Home Type

Multi-Family

Year Built

Built in 1963

Lot Details

0

Listing Details

  • Assessments: No
  • CapRate: 3.90
  • View: No
  • Water Sewer Expenses: 1800.00
  • Architectural Style: Traditional
  • Property Type: Residential Income
  • Parcel Number: 7247007019
  • Year Built: 1963
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Fireplace: No
  • Appliances: No
  • Price Per Square Foot: 437.68

Exterior Features

  • Pool Private: No
  • Spa: No
  • Construction Materials: Stucco, Brick

Garage/Parking

  • Parking: No
  • Total Parking Spaces: 2.00

Utilities

  • Heating: No
  • Laundry: No

Condo/Co-op/Association

  • Senior Community: No

Multi Family

  • Gross Income: 5660.00
  • Gross Multiplier: 18.40
  • Gross Scheduled Income: 67920.00
  • Insurance Expense: 1800.00
  • Net Operating Income: 48720.00
  • Number Of Separate Electric Meters: 4
  • Number Of Separate Gas Meters: 4
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 4
  • Operating Expense: 19200.00

Tax Info

  • New Taxes Expense: 13320.00
  • Tax Lot: 20
  • Tax Tract: Belmont Shore
  • Tax Tract Number: 3885

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Aug 21, 2019
Sold by
Johnson Billie Jo and The Johnson Living Trust
Bought by
Covina Belmont Shore Llc
Current Estimated Value
$2,078,279

Purchase Details

Closed on
May 6, 2019
Sold by
Johnson Billie Jo and The Johnson Living Trust
Bought by
Johnson Billie Jo and The Johnson Living Trust

Purchase Details

Closed on
Jun 16, 2016
Sold by
Azbill Waldemar N
Bought by
Azbill Barbara J and The Barbara J Azbill Under Dec

Purchase Details

Closed on
Jun 14, 2016
Sold by
Azbill Barbara J and The Barbara J Azbill Under Dec
Bought by
The Johnson Living Trust

Purchase Details

Listed on
Jul 3, 2011
Closed on
Mar 25, 2013
Sold by
Azbill Barbara J
Bought by
Azbill Waldemar N
Seller's Agent
Marty Stone
Buckingham Investments
Buyer's Agent
John Gazdik
Real Estate West, Inc.
List Price
$1,600,000
Sold Price
$1,250,000
Premium/Discount to List
-$350,000
-21.88%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
4.03%
Original Mortgage
$864,431
Interest Rate
3.49%
Mortgage Type
Seller Take Back

Purchase Details

Listed on
Jul 3, 2011
Closed on
Mar 4, 2013
Sold by
Garay Byron R
Bought by
Garay Nichole
Seller's Agent
Marty Stone
Buckingham Investments
Buyer's Agent
John Gazdik
Real Estate West, Inc.
List Price
$1,600,000
Sold Price
$1,250,000
Premium/Discount to List
-$350,000
-21.88%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$864,431
Interest Rate
3.49%
Mortgage Type
Seller Take Back

Purchase Details

Listed on
Jul 3, 2011
Closed on
Mar 2, 2013
Sold by
Garay Nichole and Merry Nichole
Bought by
Azbill Waldemar N and Azbill Barbara J
Seller's Agent
Marty Stone
Buckingham Investments
Buyer's Agent
John Gazdik
Real Estate West, Inc.
List Price
$1,600,000
Sold Price
$1,250,000
Premium/Discount to List
-$350,000
-21.88%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$864,431
Interest Rate
3.49%
Mortgage Type
Seller Take Back

Purchase Details

Closed on
Apr 25, 2007
Sold by
Vernola Patrick Frank and Vernola Kelly Jean
Bought by
Merry Nichole

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$904,000
Interest Rate
7.7%
Mortgage Type
Negative Amortization

Purchase Details

Closed on
Jun 17, 1999
Sold by
Vernola Patrick Frank and Vernola Kelly Jean
Bought by
Vernola Patrick Frank and Vernola Kelly Jean

Purchase Details

Closed on
Nov 14, 1997
Sold by
Warick Lawrence and Warick Family Living Trust
Bought by
Vernola Patrick F and Vernola Kelly J

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$284,000
Interest Rate
7.16%

Purchase Details

Closed on
Mar 7, 1997
Sold by
Warick Lawrence and Warick Elaine
Bought by
Warrick Lawrence H and Warrick Elaine R
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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Average Value
Not Available
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

Purchase History

Date Buyer Sale Price Title Company
Covina Belmont Shore Llc -- None Available
Johnson Billie Jo -- None Available
Azbill Barbara J -- First American Title Ins Co
The Johnson Living Trust $1,449,000 First American Title Ins Co
Azbill Waldemar N -- First American Title Company
Garay Nichole -- First American Title Company
Azbill Waldemar N $330,000 First American Title Company
Merry Nichole $1,130,000 Progressive Title Company
Vernola Patrick Frank -- --
Vernola Patrick F $355,000 Fidelity National Title
Warrick Lawrence H -- --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Azbill Waldemar N $864,431
Previous Owner Merry Nichole $904,000
Previous Owner Vernola Patrick F $284,000
Closed Vernola Patrick F $35,500
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
03/05/2013 03/05/13 Sold $1,250,000 -21.9% $438 / Sq Ft
01/31/2013 01/31/13 Pending -- -- --
07/03/2011 07/03/11 For Sale $1,600,000 -- $560 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

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 $21,641 $1,715,316 $1,065,414 $649,902
2024 $21,641 $1,681,683 $1,044,524 $637,159
2023 $21,278 $1,648,710 $1,024,044 $624,666
2022 $19,959 $1,616,383 $1,003,965 $612,418
2021 $19,570 $1,584,690 $984,280 $600,410
2020 $19,520 $1,569,542 $974,188 $595,354
2019 $19,290 $1,538,789 $955,087 $583,702
2018 $18,832 $1,508,639 $936,360 $572,279
2016 $14,936 $1,242,040 $825,946 $416,094
2015 $14,330 $1,223,384 $813,540 $409,844
2014 $14,228 $1,199,420 $797,604 $401,816
Source: Public Records

Agents Affiliated with this Home

  • Marty Stone

    Seller's Agent in 2013

    Marty Stone

    Buckingham Investments

    (310) 322-9763

    7 Total Sales

    Marty Stone
    Section Image
  • John Gazdik

    Buyer's Agent in 2013

    John Gazdik

    Real Estate West, Inc.

    (562) 424-7310

    14 Total Sales

    John Gazdik
    Section Image
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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: P787766

California Regional Multiple Listing Service (CRMLS)

APN: 7247-007-019

California Los Angeles County Long Beach 90803 Belmont Shore

148 Covina Ave, Long Beach, CA

Not Listed for Sale

MultiFamily

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