NOT LISTED FOR SALE
7 Beds
6 Baths
4,717 Sq Ft
8,266 Sq Ft Lot

Sale Details

Date Sold: September 20, 2024

Last sale price $2,165,000 $459 Per Sq Ft

96 Days on Market

Highlights

  • 0.19 Acre Lot
  • Wood Flooring
  • Neighborhood Views
  • Long Beach Polytechnic High School Rated A
  • Spanish Architecture
  • Garden

About This Home

As of September 2024

Pride of Ownership, 5 Unit, Trophy Property! Located within the highly sought after community of Alamitos Beach, merely footsteps from the sand. 1534 E. 1st street is a picturesque 1920’s building, featuring all classic characteristics and qualities of early 20th century architecture – boasting magnificent high ceilings, built in cabinetry, hardwood flooring, large open floor plans with an abundance of natural light. Interior upgrades include (Kitchen improvements; all new Corion counters, stainless steel appliances, new cabinetry and all new fixtures throughout – Bathroom improvements include; Upgraded vanity counters, tile flooring/wainscot, toilets and fixtures). The asset is comprised of One large 3 bedroom x 2 bathroom unit with in unit laundry, along with Four large 1 bedroom x 1 bathroom units. The asset is separately metered for gas and electric and has onsite laundry, 8 onsite garage spaces, with 2 additional open spaces (10 total). The grounds/garden beds have been beautifully manicured with a large tiled patio area perfect for weekend BBQ’s. Located just a short distance to Belmont Shore’s “2nd street”, which houses most of Long Beach's best fashion stores, restaurants, bars and coffee shops. Perfect building for the sophisticated investor looking for a prime asset in an A+ location.

Last Agent to Sell the Property

Cameron Jacques

Kinnery's Brokerage House License #01852032 Listed on: 05/31/2024

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Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1920

Lot Details

  • 8,266 Sq Ft Lot
  • Lot Dimensions are 55 x 151
  • Two or More Common Walls
  • Landscaped
  • Rectangular Lot
  • Garden

Parking

  • 2 Open Parking Spaces
  • 8 Car Garage

Home Design

  • Spanish Architecture
  • Apartment
  • Entry on the 1st floor
  • Raised Foundation

Interior Spaces

  • 4,717 Sq Ft Home
  • 2-Story Property
  • Neighborhood Views
  • Dishwasher

Flooring

  • Wood
  • Tile

Bedrooms and Bathrooms

  • 7 Bedrooms
  • 6 Bathrooms

Home Security

  • Carbon Monoxide Detectors
  • Fire and Smoke Detector

Location

  • Urban Location

Utilities

  • Floor Furnace
  • Natural Gas Connected
  • Cable TV Available

Listing and Financial Details

  • Legal Lot and Block 6 / 53
  • Tax Tract Number 576
  • Assessor Parcel Number 7265014006
  • $1,112 per year additional tax assessments

Community Details

Overview

  • 2 Buildings
  • 5 Units
  • Alamitos Beach Subdivision

Amenities

  • Laundry Facilities

Building Details

  • 6 Separate Electric Meters
  • 6 Separate Gas Meters
  • 1 Separate Water Meter
  • Operating Expense $46,525
  • Gross Income $139,920
  • Net Operating Income $90,597

Property Details

Home Type

Multi-Family

Year Built

Built in 1920

Lot Details

8,266 Sq Ft Lot

Parking

8

Listing Details

  • Assessments: No
  • CapRate: 4.13
  • Property Attached: Yes
  • Road Frontage Type: City Street
  • Road Surface Type: Paved
  • Security: Carbon Monoxide Detector(s), Smoke Detector(s)
  • Subdivision Name Other: Alamitos Beach (AB)
  • View: Yes
  • Zoning: LBR4R
  • Architectural Style: Spanish
  • Property Sub Type: Apartment
  • Property Type: Residential Income
  • Parcel Number: 7265014006
  • Year Built: 1920
  • Special Features: None

Interior Features

  • Stories: 2
  • Common Walls: 2+ Common Walls
  • Flooring: Tile, Wood
  • Appliances: Yes
  • Entry Level: 1
  • Levels: Two
  • Price Per Square Foot: 458.98

Exterior Features

  • Foundation: Raised
  • View: Neighborhood
  • Pool Private: No
  • Spa: No

Garage/Parking

  • Garage Spaces: 8.00
  • Total Parking Spaces: 10.00
  • Uncovered Spaces: 2.00

Utilities

  • Utilities: Cable Connected, Electricity Connected, Natural Gas Connected, Sewer Connected
  • Heating: Yes
  • Laundry: Yes
  • Appliances: Dishwasher
  • Heating Type: Floor Furnace
  • Laundry Features: Community
  • Sewer: Public Sewer
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No
  • Common Interest: Community Apartment
  • Community Features: Sidewalks, Urban

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: Garden, Landscaped, Lot 6500-9999, Rectangular Lot, Walkstreet
  • Lot Size: 55 x 151
  • Lot Size Sq Ft: 8266.00
  • Lot Size Acres: 0.1898

Multi Family

  • Gross Income: 139920.00
  • Gross Multiplier: 15.72
  • Gross Operating Income: 137122.00
  • Gross Scheduled Income: 139920.00
  • Lot Size Area: 8266.0000 Square Feet
  • Net Operating Income: 90597.00
  • Number Of Rented Garages: 8700
  • Number Of Separate Electric Meters: 6
  • Number Of Separate Gas Meters: 6
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 5
  • Operating Expense: 46525.00
  • Rent Control: No
  • Total Expenses: 46525.00

Tax Info

  • Tax Block: 53
  • Tax Census Tract: 5766.02
  • Tax Lot: 6
  • Tax Tract Number: 576...
  • TaxOtherAnnualAssessmentAmount: 1112.00

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
May 31, 2024
Closed on
Sep 16, 2024
Sold by
Bought by
Seller's Agent
Cameron Jacques
Kinnery's Brokerage House
List Price
$2,300,000
Sold Price
$2,165,000
Premium/Discount to List
-$135,000
-5.87%
Views
24

Purchase Details

Listed on
Jun 25, 2018
Closed on
Aug 9, 2018
Sold by
Bought by
Seller's Agent
Michael Robinson
Broadmoor Realty, Inc.
Buyer's Agent
Michael Gelfond
Bedford Properties
List Price
$2,250,000
Sold Price
$1,837,500
Premium/Discount to List
-$412,500
-18.33%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
2.77%
Original Mortgage
$920,000
Interest Rate
4.5%
Mortgage Type
Commercial

Purchase Details

Closed on
Sep 30, 2016
Sold by
Bought by

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$635,000
Interest Rate
3.44%
Mortgage Type
Commercial

Purchase Details

Closed on
Mar 2, 2007
Sold by
Bought by

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$731,000
Interest Rate
6.29%
Mortgage Type
Negative Amortization

Purchase Details

Closed on
Jul 17, 2003
Sold by
Bought by

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$500,000
Interest Rate
5.13%
Mortgage Type
Commercial

Purchase Details

Closed on
Aug 24, 2001
Sold by
Bought by

Purchase Details

Closed on
Mar 9, 1999
Sold by
Bought by

Purchase Details

Closed on
May 1, 1994
Sold by
Bought by

Purchase Details

Closed on
Feb 1, 1994
Sold by
Bought by
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
$2,165,000 Fidelity National Title
$1,837,500 Ticor Title Company
-- Chicago Title Company
-- Fidelity National Title Co
-- First American Title Ins Co
-- First American Title Ins Co
-- --
-- --
-- --
-- --
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 $920,000
Previous Owner $635,000
Previous Owner $731,000
Previous Owner $500,000
Previous Owner $325,000
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 Prior Sale
09/20/2024 09/20/24 Sold $2,165,000 -1.6% $459 / Sq Ft
06/28/2024 06/28/24 Price Changed $2,200,000 -4.3% $466 / Sq Ft
05/31/2024 05/31/24 For Sale $2,300,000 +25.2% $488 / Sq Ft
09/21/2018 09/21/18 Sold $1,837,500 -3.2% $390 / Sq Ft View Prior Sale
08/09/2018 08/09/18 Pending -- -- --
07/16/2018 07/16/18 Price Changed $1,899,000 -15.6% $403 / Sq Ft
06/25/2018 06/25/18 For Sale $2,250,000 -- $477 / 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 $28,732 $2,165,000 $1,400,000 $765,000
2024 $26,088 $2,009,025 $1,352,839 $656,186
2023 $25,652 $1,969,633 $1,326,313 $643,320
2022 $24,074 $1,931,013 $1,300,307 $630,706
2021 $23,599 $1,893,151 $1,274,811 $618,340
2019 $23,262 $1,837,000 $1,237,000 $600,000
2018 $22,711 $1,836,000 $1,224,000 $612,000
2017 $5,896 $439,335 $292,893 $146,442
2016 $5,450 $430,721 $287,150 $143,571
2015 $5,240 $424,252 $282,837 $141,415
2014 $5,233 $415,942 $277,297 $138,645
Source: Public Records

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PW24103838

California Regional Multiple Listing Service (CRMLS)
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