NOT LISTED FOR SALE

1542 Pine Ave Long Beach, CA 90813

Washington School Neighborhood

Estimated Value: $2,379,237 - $2,651,000

3 Beds
2 Baths
5,380 Sq Ft
$467/Sq Ft Est. Value

Last Sold June 19, 2015

Last sale price $965,000 $179 Per Sq Ft

Est. 161% increase in value since last sale

Current estimated payment $14,939/month

21 Days on Market

Highlights

  • Lawn
  • Balcony
  • Landscaped
  • Long Beach Polytechnic High School Rated A
  • Tile Flooring

About This Home

As of June 2015

are pleased to present the 7-unit apartment complex located at 1542 Pine Avenue. The property was developed in 1923 and features two separate structures sitting on a 7,517 square foot lot. The front building has four 2-bedroom units and the back building has three 1-bedroom units and four garages. In addition, the property has a washer and dryer in each unit and is separately metered for gas and electric. 1542 Pine is a unique pride-of-ownership building with no deferred maintenance.

The property is located in a submarket with very high rental demand. The street is almost exclusively residential and features primarily small apartment buildings. The subject property offers easy access to both the 710 and 405 freeways, making it an advantageous location for residents looking to commute to LA or Orange County. Public transportation is very accessible from the property and tenants have the ability to walk to many different amenities nearby.

Last Agent to Sell the Property

Jack Levis

CBRE Inc. License #01886278 Listed on: 03/30/2015

Last Buyer's Agent

Jack Levis

CBRE Inc. License #01886278 Listed on: 03/30/2015

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1923

Lot Details

  • 7,492 Sq Ft Lot
  • Property fronts an alley
  • Two or More Common Walls
  • Landscaped
  • Lawn
  • Density is up to 1 Unit/Acre

Parking

  • 4 Car Garage

Home Design

  • 5,380 Sq Ft Home
  • Property Attached
  • Shingle Roof
  • Partial Copper Plumbing

Flooring

  • Carpet
  • Tile

Bedrooms and Bathrooms

  • 3 Bedrooms
  • 2 Bathrooms

Additional Features

  • Balcony
  • Sewer Paid

Listing and Financial Details

  • Tax Lot 1
  • Assessor Parcel Number 7269012024

Community Details

Overview

  • 2 Buildings
  • 7 Units

Building Details

  • 8 Separate Electric Meters
  • 8 Separate Gas Meters
  • 8 Separate Water Meters
  • Insurance Expense $1,645
  • Maintenance Expense $4,177
  • Professional Management Expense $3,653
  • Water Sewer Expense $4,634
  • New Taxes Expense $12,259
  • Gross Income $7,610
  • Net Operating Income $59,227

Property Details

Home Type

Multi-Family

Year Built

Built in 1923

Lot Details

0

Parking

4

Listing Details

  • Professional Management Expense: 3653.00
  • Property Attached: Yes
  • Road Frontage Type: Alley
  • Subdivision Name Other: Wrigley Area (WR)
  • Water Sewer Expenses: 4634.00
  • Property Type: Residential Income
  • Parcel Number: 7269012024
  • Year Built: 1923
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Interior Amenities: Balcony, Copper Plumbing Partial
  • Common Walls: 2+ Common Walls
  • Flooring: Carpet, Tile
  • Levels: Two

Exterior Features

  • Pool Private: No
  • Roof: Shingle
  • Spa: No

Garage/Parking

  • Garage Spaces: 4.00
  • Total Parking Spaces: 4.00

Utilities

  • Utilities: Electricity Available, Natural Gas Available, Water Available, Water Connected
  • Sewer: Sewer Paid

Condo/Co-op/Association

  • Community Features: Curbs

Lot Info

  • Lot Features: 0-1 Unit/Acre, Lawn, Landscaped
  • Lot Size Sq Ft: 7492.00
  • Price Per Lot Square Foot: 128.80
  • Lot Size Acres: 0.1720

Multi Family

  • Gross Income: 7610.00
  • Gross Scheduled Income: 91320.00
  • Insurance Expense: 1645.00
  • Lot Size Area: 7492.0000 Square Feet
  • Maintenance Expense: 4177.00
  • Net Operating Income: 59227.00
  • Number Of Separate Electric Meters: 8
  • Number Of Separate Gas Meters: 8
  • Number Of Separate Water Meters: 8
  • Number Of Units Total: 7
  • Operating Expense: 27617.00
  • Rent Control: No

Tax Info

  • New Taxes Expense: 12259.00
  • Tax Lot: 1

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Apr 24, 2017
Sold by
1542 Pine Ave Llc
Bought by
1542 Pine Avenue Llc
Current Estimated Value
$2,515,119

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,045,000
Interest Rate
4.02%
Mortgage Type
Commercial

Purchase Details

Closed on
Apr 17, 2015
Sold by
Verduzco Juventino and The Family Trust Of Juventino
Bought by
1542 Pine Ave Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$705,000
Interest Rate
3.81%
Mortgage Type
Future Advance Clause Open End Mortgage

Purchase Details

Closed on
Jan 22, 2008
Sold by
Verduzco Juventino
Bought by
Verduzco Juventino and Family Trust Of Juventino Verd

Purchase Details

Closed on
Mar 14, 2006
Sold by
Verduzco Maria De Jesus
Bought by
Verduzco Juventino

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$664,000
Interest Rate
6.18%
Mortgage Type
Seller Take Back

Purchase Details

Closed on
Mar 9, 2006
Sold by
Ramelow Lisa
Bought by
Verduzco Juventino

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$664,000
Interest Rate
6.18%
Mortgage Type
Seller Take Back

Purchase Details

Closed on
Dec 20, 1998
Sold by
Everest Financial
Bought by
Ramelow Lisa

Purchase Details

Closed on
Oct 2, 1996
Sold by
Olson W James
Bought by
Everest Financial
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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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

Purchase History

Date Buyer Sale Price Title Company
1542 Pine Avenue Llc $1,395,000 Provident Title Company
1542 Pine Ave Llc $965,000 First American Title Ins Co
Verduzco Juventino -- None Available
Verduzco Juventino -- First American Title Co
Verduzco Juventino $830,000 First American Title
Ramelow Lisa -- --
Everest Financial -- --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner 1542 Pine Avenue Llc $1,045,000
Previous Owner 1542 Pine Ave Llc $705,000
Previous Owner Verduzco Juventino $664,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
06/19/2015 06/19/15 Sold $965,000 -2.0% $179 / Sq Ft
04/20/2015 04/20/15 Pending -- -- --
03/30/2015 03/30/15 For Sale $985,000 -- $183 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Tax History

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 $21,142 $1,619,014 $580,292 $1,038,722
2024 $21,142 $1,587,269 $568,914 $1,018,355
2023 $20,782 $1,556,147 $557,759 $998,388
2022 $19,516 $1,525,635 $546,823 $978,812
2021 $19,111 $1,495,721 $536,101 $959,620
2019 $18,839 $1,452,238 $520,200 $932,038
2018 $18,314 $1,423,780 $510,000 $913,780
2016 $12,358 $979,715 $355,337 $624,378
2015 $10,186 $815,000 $520,400 $294,600
2014 $9,018 $700,000 $447,000 $253,000
Source: Public Records

Agents Affiliated with this Home

  • J

    Seller's Agent in 2015

    Jack Levis

    CBRE Inc.

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: SB15065729

California Regional Multiple Listing Service (CRMLS)

APN: 7269-012-024

California Los Angeles County Long Beach 90813 Washington School

1542 Pine Ave, Long Beach, CA

Not Listed for Sale

MultiFamily

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