NOT LISTED FOR SALE

1501 E South St Long Beach, CA 90805

Nehyam Neighborhood
1 Bed
1 Bath
3,200 Sq Ft
1959 Built

Last Sold June 26, 2018

Last sale price $1,115,000 $348 Per Sq Ft

34 Days on Market

About This Home

As of June 2018

An excellent opportunity to acquire a 6-unit multifamily building in North Long Beach. Located at 1501 E South St. this multifamily asset was built in 1959. A complete renovation was done ten years ago including all new windows, countertops and other aesthetic upgrades. Units are individually metered and the roof passed inspection within the last year. It offers spacious one bedroom, one bath units with total building square footage of 3,200 square feet.

Last Agent to Sell the Property

Justin White

Justin White License #01267826 Listed on: 03/23/2018

Last Buyer's Agent

Robert Stepp

Keller Williams Realty Downey License #01456379

Keller Williams Realty Downey

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1959

Lot Details

  • 3,920 Sq Ft Lot
  • Two or More Common Walls
  • Density is 6-10 Units/Acre

Home Design

  • Property Attached

Interior Spaces

  • 3,200 Sq Ft Home
  • 2-Story Property

Bedrooms and Bathrooms

  • 1 Bedroom
  • 1 Bathroom

Parking

  • 5 Open Parking Spaces
  • 5 Parking Spaces

Outdoor Features

  • Exterior Lighting

Listing and Financial Details

  • Tax Lot 25
  • Tax Tract Number 5706
  • Assessor Parcel Number 7123019025

Community Details

Overview

  • No Home Owners Association
  • 6 Units

Building Details

  • 6 Separate Electric Meters
  • 6 Separate Gas Meters
  • Insurance Expense $1,750
  • Professional Management Expense $4,680
  • New Taxes Expense $14,375
  • Operating Expense $31,173
  • Gross Income $93,600
  • Net Operating Income $59,619

Property Details

Home Type

Multi-Family

Year Built

Built in 1959

Lot Details

0

Listing Details

  • CapRate: 5.30
  • Other Phone Description: 562-269-4844
  • Professional Management Expense: 4680.00
  • Property Attached: Yes
  • Subdivision Name Other: North Long Beach (NLB)
  • Property Type: Residential Income
  • Parcel Number: 7123019025
  • Year Built: 1959
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Fireplace: No
  • Stories: 2
  • Common Walls: 2+ Common Walls
  • Levels: Two
  • Price Per Square Foot: 348.44

Exterior Features

  • Pool Private: No

Garage/Parking

  • Total Parking Spaces: 5.00
  • Uncovered Spaces: 5.00

Utilities

  • Laundry: No
  • Sewer: Public Sewer
  • Water Source: Public

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Community Features: Curbs, Sidewalks, Street Lights

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: 6-10 Units/Acre
  • Lot Size Sq Ft: 3920.40

Multi Family

  • Average1 Bed Area: 525 Square Feet
  • Gross Income: 93600.00
  • Gross Multiplier: 12.02
  • Gross Scheduled Income: 93600.00
  • Insurance Expense: 1750.00
  • Net Operating Income: 59619.00
  • Number Of Separate Electric Meters: 6
  • Number Of Separate Gas Meters: 6
  • Number Of Units Total: 6
  • Operating Expense: 31173.00
  • Rent Control: No
  • Total Expenses: 31173.00

Tax Info

  • New Taxes Expense: 14375.00
  • Tax Lot: 25
  • Tax Tract Number: 5706.0

Range of Values:

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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

Property History

Date Event Price Change Sq Ft Price
06/26/2018 06/26/18 Sold $1,115,000 -0.9% $348 / Sq Ft
05/11/2018 05/11/18 For Sale $1,125,000 +0.9% $352 / Sq Ft
04/20/2018 04/20/18 Off Market $1,115,000 -- --
04/04/2018 04/04/18 Price Changed $1,125,000 -2.2% $352 / Sq Ft
03/23/2018 03/23/18 For Sale $1,150,000 -- $359 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Justin White

    Seller's Agent in 2018

    Justin White

    Justin White

    (714) 231-2537

    46 Total Sales

    Justin White
    Section Image
  • Robert Stepp

    Buyer's Agent in 2018

    Robert Stepp

    Keller Williams Realty Downey

    (310) 463-2916

    72 Total Sales

    Robert Stepp
    Section Image
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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PW18076227

California Regional Multiple Listing Service (CRMLS)
California Los Angeles County Long Beach 90805 Nehyam

1501 E South St, Long Beach, CA

This home is located at 1501 E South St, Long Beach, CA 90805 since 23 March 2018. This property was built in 1959. 1501 E South St is a home located in Los Angeles County with nearby schools including Bret Harte Elementary School, Lindbergh STEM Academy, and Jordan High School.

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California Regional Multiple Listing Service (CRMLS) 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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