NOT LISTED FOR SALE
11 Beds
6 Baths
5,298 Sq Ft
5,003 Sq Ft Lot

Last Sold June 15, 2012

Last sale price $500,000 $94 Per Sq Ft

24 Days on Market

Highlights

  • Traditional Architecture
  • No Heating
  • 4-minute walk to 14th Street Park
  • Wood Siding

About This Home

As of June 2012

1487 Chestnut Avenue in Long Beach is a six-unit, two-story apartment building, constructed in 1927 of wood frame and stucco. The unit mix consists of one studio/one-bath unit, one one-bedroom/ one-bath unit, two two-bedroom/one-bath units, and two three-bedroom/one-bathroom units. There are five single-car garages and on-site laundry for additional income. Gas and electric are separately metered and paid by each of the tenants, keeping the expenses to a minimum for the owner.

Last Agent to Sell the Property

Steve Bogoyevac

Steven M. Bogoyevac, Broker License #01332755 Listed on: 04/24/2012

Last Buyer's Agent

Steve Bogoyevac

Steven M. Bogoyevac, Broker License #01332755 Listed on: 04/24/2012

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1927

Lot Details

  • 5,003 Sq Ft Lot
  • Lot Dimensions are 50x95

Parking

  • 1 Car Garage

Home Design

  • 5,298 Sq Ft Home
  • Traditional Architecture
  • Wood Siding
  • Stucco

Bedrooms and Bathrooms

  • 11 Bedrooms
  • 6 Bathrooms

Utilities

  • No Heating

Listing and Financial Details

  • Tax Block B
  • Tax Tract Number 7518
  • Assessor Parcel Number 7269040028

Community Details

Overview

  • 6 Units

Building Details

  • 6 Separate Electric Meters
  • 6 Separate Gas Meters
  • 1 Separate Water Meter
  • Gardener Expense $420
  • Insurance Expense $1,636
  • Maintenance Expense $2,940
  • Other Expense $1,500
  • Professional Management Expense $3,528
  • Water Sewer Expense $3,360
  • New Taxes Expense $6,654
  • Gross Income $4,985
  • Net Operating Income $35,111

Property Details

Home Type

Multi-Family

Year Built

Built in 1927

Lot Details

5,003 Sq Ft Lot

Parking

1

Listing Details

  • Assessments: No
  • CapRate: 5.90
  • Professional Management Expense: 3528.00
  • View: No
  • Water Sewer Expenses: 3360.00
  • Architectural Style: Traditional
  • Property Type: Residential Income
  • Gardener Expense: 420.00
  • Parcel Number: 7269040028
  • Year Built: 1927
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Fireplace: No
  • Appliances: No
  • Levels: Two
  • Price Per Square Foot: 94.38

Exterior Features

  • Pool Private: No
  • Spa: No
  • Construction Materials: Stucco, Wood Siding

Garage/Parking

  • Garage Spaces: 1.00
  • Parking: No
  • Total Parking Spaces: 5.00

Utilities

  • Heating: No
  • Laundry: No

Condo/Co-op/Association

  • Senior Community: No

Lot Info

  • Lot Size: 50x95
  • Lot Size Sq Ft: 5003.00
  • Lot Size Acres: 0.1150

Multi Family

  • Gross Income: 4985.00
  • Gross Multiplier: 9.83
  • Gross Scheduled Income: 60540.00
  • Insurance Expense: 1636.00
  • Lot Size Area: 5003.0000 Square Feet
  • Maintenance Expense: 2940.00
  • Net Operating Income: 35111.00
  • Number Of Separate Electric Meters: 6
  • Number Of Separate Gas Meters: 6
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 6
  • Operating Expense: 22438.00
  • Other Expense: 1500.00
  • Other Expense Description: Res/Repl

Tax Info

  • New Taxes Expense: 6654.00
  • Tax Area: 11934
  • Tax Block: B
  • Tax Lot: 0.
  • Tax Tract Number: 7518
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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 List to Sale Price per Sq Ft
06/15/2012 06/15/12 Sold $500,000 -16.0% $94 / Sq Ft
05/18/2012 05/18/12 Pending -- -- --
04/24/2012 04/24/12 For Sale $595,000 -- $112 / 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 $8,906 $628,017 $251,206 $376,811
2024 $8,906 $615,704 $246,281 $369,423
2023 $8,749 $603,632 $241,452 $362,180
2022 $8,236 $591,797 $236,718 $355,079
2021 $8,037 $580,194 $232,077 $348,117
2019 $7,922 $563,868 $225,195 $338,673
2018 $7,665 $552,830 $220,780 $332,050
2016 $7,034 $530,518 $212,207 $318,311
2015 $6,768 $522,550 $209,020 $313,530
2014 $6,749 $512,315 $204,926 $307,389
Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: P820413

California Regional Multiple Listing Service (CRMLS)
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