NOT LISTED FOR SALE

1588 Pine Ave Long Beach, CA 90813

Washington School Neighborhood

Estimated Value: $1,058,000 - $1,111,871

1 Bed
1 Bath
3,268 Sq Ft
$330/Sq Ft Est. Value

Last Sold January 31, 2019

Last sale price $725,000 $222 Per Sq Ft

Est. 52% increase in value since last sale

Current estimated payment $6,655/month

108 Days on Market

About This Home

As of January 2019

Four Units in one building, two car garage, close to the 710 Fwy, and to the beach.

Last Agent to Sell the Property

Gustavo Rico

NT & Associates, Inc. License #01171199 Listed on: 09/12/2018

Last Buyer's Agent

Sam Kazemi

Estate Properties License #01798403

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1922

Lot Details

  • 4,802 Sq Ft Lot
  • No Common Walls
  • Density is up to 1 Unit/Acre

Parking

  • 2 Car Garage

Home Design

  • 3,268 Sq Ft Home

Bedrooms and Bathrooms

  • 1 Bedroom
  • 1 Bathroom

Listing and Financial Details

  • Tax Lot 1
  • Tax Tract Number 5754
  • Assessor Parcel Number 7269012001

Community Details

Overview

  • 4 Units

Building Details

  • 5 Separate Electric Meters
  • 5 Separate Gas Meters
  • 1 Separate Water Meter
  • Electric Expense $468
  • Fuel Expense $648
  • Insurance Expense $1,350
  • Water Sewer Expense $228
  • New Taxes Expense $9,812
  • Operating Expense $12,507
  • Gross Income $4,135
  • Net Operating Income $4,135

Property Details

Home Type

Multi-Family

Year Built

Built in 1922

Lot Details

0

Parking

2

Listing Details

  • Property Attached: No
  • Subdivision Name Other: Alamitos Beach (AB)
  • Water Sewer Expenses: 228.00
  • Zoning: LBR4R
  • Property Type: Residential Income
  • Parcel Number: 7269012001
  • Year Built: 1922
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Common Walls: No Common Walls
  • Price Per Square Foot: 221.85

Exterior Features

  • Pool Private: No

Garage/Parking

  • Garage Spaces: 2.00
  • Total Parking Spaces: 2.00

Utilities

  • Laundry: No
  • Sewer: Public Sewer
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No
  • Community Features: Curbs

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: 0-1 Unit/Acre
  • Lot Size Sq Ft: 4802.00
  • Lot Size Acres: 0.1102

Multi Family

  • Average1 Bed Area: 817 Square Feet
  • Electric Expense: 468.00
  • Fuel Expense: 648.00
  • Gross Income: 4134.50
  • Gross Scheduled Income: 4450.00
  • Insurance Expense: 1350.00
  • Lot Size Area: 4802.0000 Square Feet
  • Net Operating Income: 4134.50
  • Number Of Separate Electric Meters: 5
  • Number Of Separate Gas Meters: 5
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 4
  • Operating Expense: 315.50
  • Rent Control: No
  • Total Expenses: 12506.50

Tax Info

  • New Taxes Expense: 9812.00
  • Tax Census Tract: 5754.02
  • Tax Lot: 1
  • Tax Tract Number: 5754

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Sep 12, 2018
Closed on
Jan 8, 2019
Sold by
Brown Ronald E and Brown Angela J
Bought by
Megan Investment Llc
Seller's Agent
Gustavo Rico
NT & Associates, Inc.
Buyer's Agent
Sam Kazemi
Estate Properties
List Price
$759,000
Sold Price
$725,000
Premium/Discount to List
-$34,000
-4.48%
Current Estimated Value
$1,099,758

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$374,758
Avg. Annual Appreciation
5.93%
Original Mortgage
$543,760
Outstanding Balance
$496,624
Interest Rate
6.75%
Mortgage Type
Adjustable Rate Mortgage/ARM
Estimated Equity
$582,094

Purchase Details

Closed on
Sep 13, 2018
Sold by
Wachter Joseph R
Bought by
Wachter Joseph R and The Joseph Wachter Revocable T

Purchase Details

Closed on
Dec 7, 2005
Sold by
Brown Ronald E and Brown Angela J
Bought by
Brown Ronald E

Purchase Details

Closed on
Apr 13, 2005
Sold by
Brown Ronald E
Bought by
Brown Ronald E

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$285,000
Interest Rate
1.37%
Mortgage Type
Negative Amortization

Purchase Details

Closed on
Jan 5, 1996
Sold by
Wachter Margaret K
Bought by
Wachter Joseph R

Purchase Details

Closed on
Oct 4, 1995
Sold by
Lay Kry and Lay Phansuna
Bought by
Federal Home Loan Mortgage Corporation
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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Average Value
Not Available
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
Megan Investment Llc $725,000 Chicago Title Company
Wachter Joseph R -- None Available
Brown Ronald E -- --
Brown Ronald E -- Ticor Title Co Of California
Wachter Joseph R -- Ticor Title Co Of California
Wachter Joseph R -- First American Title
Federal Home Loan Mortgage Corporation $80,000 Northern Counties Title Ins
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Megan Investment Llc $543,760
Previous Owner Brown Ronald E $285,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
01/31/2019 01/31/19 Sold $725,000 -4.5% $222 / Sq Ft
12/29/2018 12/29/18 Pending -- -- --
11/27/2018 11/27/18 For Sale $759,000 0.0% $232 / Sq Ft
11/13/2018 11/13/18 Pending -- -- --
10/30/2018 10/30/18 Price Changed $759,000 -3.3% $232 / Sq Ft
09/12/2018 09/12/18 For Sale $785,000 -- $240 / 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 $10,716 $808,746 $446,205 $362,541
2024 $10,716 $792,889 $437,456 $355,433
2023 $10,533 $777,343 $428,879 $348,464
2022 $9,898 $762,102 $420,470 $341,632
2021 $9,688 $747,160 $412,226 $334,934
2019 $2,402 $134,397 $119,128 $15,269
2018 $2,253 $131,768 $116,793 $14,975
2016 $2,063 $126,422 $112,258 $14,164
2015 $1,995 $124,524 $110,572 $13,952
2014 $2,006 $122,086 $108,407 $13,679
Source: Public Records

Agents Affiliated with this Home

  • G

    Seller's Agent in 2019

    Gustavo Rico

    NT & Associates, Inc.

    (562) 468-4608

    5 Total Sales

    Gustavo Rico
    Section Image

  • S

    Buyer's Agent in 2019

    Sam Kazemi

    RE/MAX

    Section Image
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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: RS18223907

California Regional Multiple Listing Service (CRMLS)

APN: 7269-012-001

California Los Angeles County Long Beach 90813 Washington School

1588 Pine Ave, Long Beach, CA

Not Listed for Sale

MultiFamily

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