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

Sale Details

Date 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

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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

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
May 21, 2014
Sold by
Bought by

Purchase Details

Listed on
Apr 24, 2012
Closed on
Jun 14, 2012
Sold by
Bought by
Seller's Agent
Steve Bogoyevac
Steven M. Bogoyevac, Broker
Buyer's Agent
Steve Bogoyevac
Steven M. Bogoyevac, Broker
List Price
$595,000
Sold Price
$500,000
Premium/Discount to List
-$95,000
-15.97%
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
-- None Available
$500,000 Fidelity National Title
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
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

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
2025 $9,342 $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

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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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