Rudy Kusuma
LPT Realty, Inc
(916) 249-4078
151 Total Sales
1 in Washington School
$663,000 Price
1516 Cedar Ave Long Beach, CA 90813
Washington School Neighborhood
11
Beds
5
Baths
4,495
Sq Ft
8,046
Sq Ft Lot
Highlights
- Gated Community
- Double Pane Windows
- Tile Flooring
- Granite Countertops
- Wainscoting
- Turnkey
About This Home
As of December 2020Pleased to present 1516 Cedar Ave, a meticulously renovated apartment complex in Long Beach, California. The seller spent roughly $250,000 on a full remodel completed in 2019. Located in the path of progress as there are over 750 new construction units within a .25 mile radius.
The subject property offers five spacious units comprised of two (2) 3-bd/1-ba, two (2) 2-bd/1-ba and one (1) 1-bd/1-ba across two buildings totaling 4,495 square feet. Situated on an oversized 8,046 square foot lot, 1516 Cedar boasts an 87 walk score and has a courtyard with drought resistant landscaping providing a desirable open-air space for the residents. Every unit has brand-new front-loading washers and dryers and there are four (4) garages.
Extensive interior renovations at a cost of over $35,000/unit include all new copper plumbing, electrical wiring & meters, kitchens, bathrooms, doors, drywall, flooring, paint, trim, lighting and fixtures throughout. Exterior renovations include new roofing, paint, rear stairway, dual pane & double hung windows, garage doors and removal of several trees.
1516 Cedar Avenue’s location, cashflow and high-end renovations provides an investor with the opportunity to own a brand-new condition asset that will minimize their cost and maximize their return over a long investment horizon.
Last Agent to Sell the Property
Lyon Stahl Investment Real Estate, Inc. License #02060007 Listed on: 10/27/2020
Last Buyer's Agent
Lyon Stahl Investment Real Estate, Inc. License #02060007 Listed on: 10/27/2020
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Property Details
Home Type
- Multi-Family
Year Built
- Built in 1915
Lot Details
- 8,046 Sq Ft Lot
- Two or More Common Walls
Parking
- 4 Car Garage
- Parking Available
- Rear-Facing Garage
Home Design
- Property Attached
- Turnkey
- Raised Foundation
- Composition Roof
- Copper Plumbing
- Stucco
Interior Spaces
- 4,495 Sq Ft Home
- Wainscoting
- Double Pane Windows
Kitchen
- Gas Oven
- Gas Range
- Range Hood
- Microwave
- Dishwasher
- Granite Countertops
- Disposal
Flooring
- Laminate
- Tile
Bedrooms and Bathrooms
- 11 Bedrooms
- 5 Bathrooms
Laundry
- Laundry in unit
- Stacked Washer and Dryer
Home Security
- Carbon Monoxide Detectors
- Fire and Smoke Detector
Outdoor Features
- Exterior Lighting
- Rain Gutters
Utilities
- Wall Furnace
- Water Heater
Listing and Financial Details
- Tenant pays for electricity, gas, trash collection
- Tax Lot 20
- Tax Tract Number 575401
- Assessor Parcel Number 7269002010
Community Details
Overview
- 2 Buildings
- 5 Units
- Downtown Subdivision
Building Details
- Rent Control
- 5 Separate Electric Meters
- 5 Separate Gas Meters
- 1 Separate Water Meter
- Electric Expense $225
- Insurance Expense $2,556
- Professional Management Expense $6,027
- Water Sewer Expense $1,602
- New Taxes Expense $19,928
- Operating Expense $35,146
- Gross Income $124,200
- Net Operating Income $85,400
Additional Features
- Laundry Facilities
- Gated Community
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
Listed on
Oct 27, 2020
Closed on
Dec 1, 2020
Sold by
Lee Victor Weng Kwong and Wakiyama Hanako
Bought by
Seller's Agent
Chris van Vuuren
Lyon Stahl Investment Real Estate, Inc.
Buyer's Agent
Chris van Vuuren
Lyon Stahl Investment Real Estate, Inc.
List Price
$1,575,000
Sold Price
$1,500,000
Premium/Discount to List
-$75,000
-4.76%
Purchase Details
Closed on
Feb 6, 2018
Sold by
Fruchter Ezra L and Fruchter Joyce R
Bought by
Lee Victor Weng Kwong and Wakiyama Hanako
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$9,000,000
Interest Rate
4.22%
Mortgage Type
Commercial
Purchase Details
Closed on
Aug 23, 2017
Sold by
Fruchter Ezra L and Fruchter Joyce R
Bought by
Fruchter Ezra L and Fruchter Joyce R
Purchase Details
Closed on
Sep 9, 2005
Sold by
Stojakovic Danny B
Bought by
Fruchter Ezra L and Fruchter Joyce R
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$495,000
Interest Rate
5.7%
Mortgage Type
Commercial
Purchase Details
Closed on
Feb 17, 2005
Sold by
Substance Abuse Foundation Of Long Beach
Bought by
Stojakovic Danny B
Purchase Details
Closed on
Apr 22, 2003
Sold by
Boss Gardner John David and Boss Gardner Valerie
Bought by
Substance Abuse Foundation Of Long Beach
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,500,000
Interest Rate
5.84%
Mortgage Type
Commercial
Purchase Details
Closed on
Apr 21, 2003
Sold by
Substance Abuse Foundation Of Long Beach
Bought by
Substance Abuse Foundation Of Long Beach
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,500,000
Interest Rate
5.84%
Mortgage Type
Commercial
Purchase Details
Closed on
Feb 5, 2003
Sold by
D & V Gardner Llc
Bought by
Boss Gardner John David and Boss Gardner Valerie
Purchase Details
Closed on
Oct 10, 2000
Sold by
Boss Gardner John David and Boss Gardner Valerie
Bought by
D & V Gardner Llc
Purchase Details
Closed on
Jun 23, 1995
Sold by
Emc Mtg Corp
Bought by
Gardner John David
Purchase Details
Closed on
Sep 24, 1993
Sold by
Professional Foreclosure Corp
Bought by
Emc Mtg Corp
Home Values in the Area
Average Home Value in this Area
Agents Specializing in Washington School, CA
-
Rudy Kusuma
-
Poupee Komenkul
Poupee Komenkul
Rodeo Realty
(747) 998-0899
144 Total Sales
2 in Washington School
$275K - $283K Price Range
-
Melissa Barlow
Melissa Barlow
Responds QuicklyElite Representation Real Estate
(424) 704-9071
43 Total Sales
1 in Washington School
$1,150,000 Price
-
Dennis Fulmore
Dennis Fulmore
Dennis Wayne Group
(424) 688-7260
19 Total Sales
1 in Washington School
$610,000 Price
-
Tyler Rogina
Tyler Rogina
Compass
(424) 417-6460
121 Total Sales
1 in Washington School
$505,000 Price
-
Teriann McKenna
Teriann McKenna
TM Real Estate Services
(424) 396-2889
10 Total Sales
1 in Washington School
$253,000 Price
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 |
|---|---|---|---|
| $1,500,000 | Chicago Title Company | ||
| Lee Victor Weng Kwong | $900,000 | Progressive Title Company | |
| Fruchter Ezra L | -- | None Available | |
| Fruchter Ezra L | $779,000 | Ticor Title Fullerton | |
| Stojakovic Danny B | $599,000 | North American Title Co | |
| Substance Abuse Foundation Of Long Beach | $700,000 | Orange Coast Title | |
| Substance Abuse Foundation Of Long Beach | -- | Orange Coast Title | |
| Boss Gardner John David | -- | Orange Coast Title | |
| D & V Gardner Llc | -- | -- | |
| Gardner John David | $83,000 | -- | |
| Emc Mtg Corp | $180,000 | First Southwestern Title Com |
Source: Public Records
Mortgage 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 | Status | Borrower | Loan Amount |
|---|---|---|---|
| Previous Owner | $981,500 | ||
| Previous Owner | Lee Victor Weng Kwong | $9,000,000 | |
| Previous Owner | Fruchter Ezra L | $495,000 | |
| Previous Owner | Substance Abuse Foundation Of Long Beach | $1,500,000 | |
| Previous Owner | Gardner John David | $147,823 |
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 |
|---|---|---|---|---|
| 12/15/2020 12/15/20 | Sold | $1,500,000 | -4.8% | $334 / Sq Ft |
| 11/13/2020 11/13/20 | Pending | -- | -- | -- |
| 10/27/2020 10/27/20 | For Sale | $1,575,000 | -- | $350 / 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 |
|---|---|---|---|---|
| 2026 | $21,824 | $1,656,120 | $552,040 | $1,104,080 |
| 2025 | $21,824 | $1,623,648 | $541,216 | $1,082,432 |
| 2024 | $20,894 | $1,591,812 | $530,604 | $1,061,208 |
| 2023 | $20,544 | $1,560,600 | $520,200 | $1,040,400 |
| 2022 | $19,287 | $1,530,000 | $510,000 | $1,020,000 |
| 2021 | $18,899 | $1,500,000 | $500,000 | $1,000,000 |
| 2020 | $12,268 | $936,900 | $416,160 | $520,740 |
| 2019 | $12,126 | $918,540 | $408,000 | $510,540 |
| 2018 | $10,531 | $800,540 | $472,300 | $328,240 |
| 2016 | $8,882 | $700,000 | $413,300 | $286,700 |
| 2015 | $8,092 | $650,000 | $383,800 | $266,200 |
| 2014 | $7,291 | $570,000 | $336,600 | $233,400 |
Source: Public Records
Agents Affiliated with this Home
-
Chris van Vuuren
Seller's Agent in 2020
Chris van Vuuren
Lyon Stahl Investment Real Estate, Inc.
(424) 220-8960
20 Total Sales
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: SB20227183
Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.
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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