NOT LISTED FOR SALE

1520 Freeman Ave Long Beach, CA 90804

Zaferia Neighborhood
6 Beds
3 Baths
7,448 Sq Ft
6,371 Sq Ft Lot

Last Sold October 20, 2017

Last sale price $2,040,000 $274 Per Sq Ft

87 Days on Market

About This Home

As of October 2017

We are pleased to present 1520 Freeman Avenue, a 9 unit apartment community located in the highly desirable market of Eastside Long Beach. Built in 1988, the subject property is comprised of approximately 7,448 rentable square feet set on a 6,371 square foot lot. There is (1) non conforming one bedroom / one bathroom unit, and (8) two bedroom / one bathroom units. The property features large units, a laundry room, and ample gated parking for tenants' convenience. The units themselves feature private balconies, updated kitchens and bathrooms, and central air and heating. The property is separately metered for gas and electricity and has been very well maintained. With a "Walk Score" of 83 and described as "Very Walkable", this is an outstanding location for renters, as most errands can be accomplished on foot. This is a rare opportunity to acquire a quality, true pride of ownership asset in the excellent rental market of Long Beach. The outstanding unit mix and great location are just two of the features that would make this a fantastic addition to any investor's portfolio.

Last Agent to Sell the Property

Kevin King

Marcus & Millichap License #01158184 Listed on: 06/05/2017

Co-Listed By

Ryan Gonzalez

Lyon Stahl Investment Real Est License #01874815

Last Buyer's Agent

Thomas Cole

The Realestate Group License #01463959

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1988

Lot Details

  • 6,371 Sq Ft Lot
  • Two or More Common Walls
  • Density is 6-10 Units/Acre

Home Design

  • Property Attached

Interior Spaces

  • 7,448 Sq Ft Home
  • 2-Story Property
  • Laundry Room

Bedrooms and Bathrooms

  • 6 Bedrooms
  • 3 Bathrooms

Utilities

  • Septic Type Unknown

Listing and Financial Details

  • Tax Lot 4
  • Tax Tract Number 575103
  • Assessor Parcel Number 7259027016

Community Details

Building Details

  • 8 Separate Electric Meters
  • 8 Separate Gas Meters
  • 8 Separate Water Meters
  • Electric Expense $1,150
  • Fuel Expense $1,150
  • Gardener Expense $1,200
  • Insurance Expense $2,606
  • Maintenance Expense $7,080
  • Other Expense $2,500
  • Professional Management Expense $7,080
  • Trash Expense $1,150
  • Water Sewer Expense $1,150
  • New Taxes Expense $24,902
  • Operating Expense $49,968
  • Gross Income $150,017
  • Net Operating Income $100,049

Additional Features

  • 8 Units
  • Laundry Facilities

Property Details

Home Type

Multi-Family

Year Built

Built in 1988

Lot Details

0

Listing Details

  • Price Per Unit: 227778
  • Professional Management Expense: 7080.00
  • Property Attached: Yes
  • Subdivision Name Other: Eastside (ES)
  • Water Sewer Expenses: 1150.00
  • Zoning: LBR2N
  • Property Type: Residential Income
  • Gardener Expense: 1200.00
  • Parcel Number: 7259027016
  • Year Built: 1988
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Stories: 2
  • Common Walls: 2+ Common Walls
  • Levels: Two
  • Price Per Square Foot: 273.90

Exterior Features

  • Pool Private: No

Utilities

  • Laundry: Yes
  • Laundry Features: Community
  • Sewer: Unknown
  • Trash Expense: 1150.00
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No
  • Community Features: Curbs, Sidewalks

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: 6-10 Units/Acre
  • Lot Size Sq Ft: 6371.00

Multi Family

  • Electric Expense: 1150.00
  • Fuel Expense: 1150.00
  • Gross Income: 150017.00
  • Gross Operating Income: 150017.00
  • Gross Scheduled Income: 153420.00
  • Insurance Expense: 2606.00
  • Laundry Income: 960.00
  • Maintenance Expense: 7080.00
  • Net Operating Income: 100049.00
  • Number Of Separate Electric Meters: 8
  • Number Of Separate Gas Meters: 8
  • Number Of Separate Water Meters: 8
  • Number Of Units Total: 8
  • Operating Expense: 49968.00
  • Other Expense: 2500.00
  • Other Expense Description: Misc Exp
  • Other Income1: 240.00
  • Other Income Description: Parking Income
  • Rent Control: No
  • Total Expenses: 49968.00
  • Vacancy Allowance Rate: 3.00

Tax Info

  • New Taxes Expense: 24902.00
  • Tax Census Tract: 5751.03
  • Tax Lot: 4
  • Tax Tract Number: 575103

Range of Values:

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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
10/20/2017 10/20/17 Sold $2,040,000 -0.5% $274 / Sq Ft
08/31/2017 08/31/17 Pending -- -- --
06/05/2017 06/05/17 For Sale $2,050,000 -- $275 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Kevin King

    Seller's Agent in 2017

    Kevin King

    Marcus & Millichap

    (562) 257-1245

    45 Total Sales

    Kevin King
    Section Image

  • R

    Seller Co-Listing Agent in 2017

    Ryan Gonzalez

    Lyon Stahl Investment Real Est

    (562) 879-3206

    21 Total Sales

    Ryan Gonzalez
    Section Image

  • T

    Buyer's Agent in 2017

    Thomas Cole

    The Realestate Group

    (310) 421-4407

    2 Total Sales

    Thomas Cole
    Section Image
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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PW17126107

California Regional Multiple Listing Service (CRMLS)
California Los Angeles County Long Beach 90804 Zaferia

1520 Freeman Ave, Long Beach, CA

This home is located at 1520 Freeman Ave, Long Beach, CA 90804 since 05 June 2017. This property was built in 1988. 1520 Freeman Ave is a home located in Los Angeles County with nearby schools including Nieto Herrera Elementary School, Woodrow Wilson High School, and Maple Village Waldorf School.

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.

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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