NOT LISTED FOR SALE
4 Beds
4 Baths
7,004 Sq Ft
6,997 Sq Ft Lot

Sale Details

Date Sold: August 26, 2013

Last sale price $1,450,000 $207 Per Sq Ft

7 Days on Market

Highlights

  • Contemporary Architecture
  • Wood Flooring
  • Intercom
  • Long Beach Polytechnic High School Rated A
  • Balcony
  • Card or Code Access

About This Home

As of August 2013

All 2 bedroom/2bath units with private balconies and built in dish washers. Individual gas and electric meters. Individual water heaters and laundry room for extra profit. 1987 building with tuck under gated parking for 12 as well as (3) individual garages off alley. No rent control. Click supplements for rent roll, garage and laundry income. DRIVE BY ONLY-do not walk on property or disturb tenants. All offers subject to inspection.

Last Agent to Sell the Property

Janet Clement

Ryan Raney Harris License #01451548 Listed on: 07/01/2013

Last Buyer's Agent

Teresa Wang

Century Commercial RE Services License #01772547

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Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1987

Lot Details

  • 6,997 Sq Ft Lot
  • Two or More Common Walls

Parking

  • 15 Car Garage
  • Parking Available
  • Side Facing Garage
  • Community Parking Structure

Home Design

  • 7,004 Sq Ft Home
  • Contemporary Architecture
  • Property Attached
  • Composition Roof
  • Stucco

Flooring

  • Wood
  • Carpet

Bedrooms and Bathrooms

  • 4 Bedrooms
  • 4 Bathrooms

Laundry

  • Laundry Room
  • Leased Washer and Dryer

Outdoor Features

  • Balcony

Utilities

  • Heating System Uses Natural Gas
  • Wall Furnace
  • Sewer Paid

Listing and Financial Details

  • Tenant pays for cable TV, electricity, gas
  • Legal Lot and Block 6 / 4
  • Tax Tract Number 5754
  • Assessor Parcel Number 7269012031

Community Details

Building Details

  • 9 Leased Units
  • 11 Separate Electric Meters
  • 11 Separate Gas Meters
  • 11 Separate Water Meters
  • Electric Expense $1,380
  • Insurance Expense $3,600
  • Other Expense $5,315
  • Pest Control $474
  • Water Sewer Expense $7,200
  • New Taxes Expense $16,675
  • Gross Income $11,950
  • Net Operating Income $100,724

Additional Features

  • 10 Units
  • Laundry Facilities
  • Card or Code Access

Property Details

Home Type

Multi-Family

Year Built

Built in 1987

Lot Details

6,997 Sq Ft Lot

Parking

15

Listing Details

  • CapRate: 7.45
  • Property Attached: Yes
  • Road Frontage Type: City Street
  • Security: Card/Code Access
  • Subdivision Name Other: Alamitos Beach (AB)
  • Water Sewer Expenses: 7200.00
  • Architectural Style: Contemporary
  • Property Type: Residential Income
  • Parcel Number: 7269012031
  • Year Built: 1987
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Interior Amenities: Balcony, Intercom
  • Common Walls: 2+ Common Walls
  • Flooring: Carpet, Wood
  • Price Per Square Foot: 207.02

Exterior Features

  • Pool Private: No
  • Roof: Composition
  • Construction Materials: Stucco

Garage/Parking

  • Garage Spaces: 15.00
  • Parking: Yes
  • Parking Features: Community Structure, Covered, Garage, Garage Faces Side
  • Total Parking Spaces: 15.00

Utilities

  • Utilities: Sewer Connected
  • Heating: Yes
  • Laundry: Yes
  • Heating Type: Natural Gas, Wall Furnace
  • Laundry Features: Community, Individual Room
  • Pest Control Expense: 474.00
  • Sewer: Sewer Paid
  • Water Source: Public

Condo/Co-op/Association

  • Community Features: Curbs

Lot Info

  • Lot Size Sq Ft: 6997.00
  • Lot Size Acres: 0.1610

Rental Info

  • Tenant Pays: Cable TV, Electricity, Gas

Multi Family

  • Average2 Bed Area: 700
  • Electric Expense: 1380.00
  • Gross Income: 11950.00
  • Gross Multiplier: 9.88
  • Gross Scheduled Income: 143400.00
  • Insurance Expense: 3600.00
  • Laundry Equipment Own Lease: Lease
  • Lot Size Area: 6997.0000 Square Feet
  • Net Operating Income: 100724.00
  • Number Of Rented Garages: 2
  • Number Of Separate Electric Meters: 11
  • Number Of Separate Gas Meters: 11
  • Number Of Separate Water Meters: 11
  • Number Of Units Leased: 9
  • Number Of Units Total: 10
  • Number With Carpet: 10
  • Number With Range: 10
  • Operating Expense: 35344.00
  • Other Expense: 5315.00
  • Rent Control: No
  • Total Actual Rent: 11700.00
  • Vacancy Allowance Rate: 5.00

Tax Info

  • New Taxes Expense: 16675.00
  • Tax Block: 4
  • Tax Lot: 6
  • Tax Tract Number: 5754
  • Tax Year: 2012

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
Jul 1, 2013
Closed on
Jul 19, 2013
Sold by
Italiano Steve J
Bought by
Seller's Agent
Janet Clement
Ryan Raney Harris
Buyer's Agent
Teresa Wang
Century Commercial RE Services
List Price
$1,450,000
Sold Price
$1,450,000

Purchase Details

Closed on
Aug 4, 2010
Sold by
P R S Management Inc
Bought by
Italiano Steve J

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$910,000
Interest Rate
4.16%
Mortgage Type
Commercial

Purchase Details

Closed on
Jan 17, 2006
Sold by
Gamez Steve and Gamez Yolanda
Bought by
P R S Management Inc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$956,000
Interest Rate
6.87%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
Jul 27, 2004
Sold by
P R S Management Inc
Bought by
Gamez Steve

Purchase Details

Closed on
Apr 7, 2004
Sold by
Web Service Co Inc
Bought by
Reihart Victor A

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$600,000
Interest Rate
6.12%
Mortgage Type
Commercial

Purchase Details

Closed on
Mar 4, 2004
Sold by
Reinhart Victor A and Reinhart Maria A
Bought by
Prs Management Inc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$600,000
Interest Rate
6.12%
Mortgage Type
Commercial
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
$1,450,000 Fidelity National Title Co
Italiano Steve J $1,300,000 Fidelity National Title Co
P R S Management Inc -- Fidelity National Title Co
Gamez Steve -- --
Reihart Victor A -- Fidelity National Title
Prs Management Inc -- Fidelity National Title Co
P R S Management Inc -- Fidelity National Title 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
Open $1,500,000
Closed H & M Global Llc $1,385,000
Closed H & M Global Llc $1,000,000
Previous Owner Italiano Steve J $910,000
Previous Owner P R S Management Inc $150,000
Previous Owner P R S Management Inc $200,000
Previous Owner P R S Management Inc $956,000
Previous Owner Reihart Victor A $600,000
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
08/26/2013 08/26/13 Sold $1,450,000 0.0% $207 / Sq Ft
07/08/2013 07/08/13 Pending -- -- --
07/01/2013 07/01/13 For Sale $1,450,000 -- $207 / 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 $2,343 $19,477 $6,667 $12,810
2025 $2,258 $18,550 $4,190 $14,360
2024 $2,160 $17,666 $4,117 $13,549
2023 $2,160 $16,825 $3,605 $13,220
2022 $2,108 $16,024 $3,884 $12,140
2021 $2,187 $15,261 $3,195 $12,066
2020 $2,127 $14,534 $3,123 $11,411
2019 $2,092 $13,842 $3,088 $10,754
2018 $1,951 $13,183 $3,563 $9,620
2017 $1,911 $13,183 $3,563 $9,620
2016 $1,869 $11,957 $2,500 $9,457
2015 $1,306 $11,388 $2,537 $8,851
2014 $1,306 $10,846 $2,500 $8,346
Source: Public Records

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: SB13126727

California Regional Multiple Listing Service (CRMLS)
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