NOT LISTED FOR SALE
2 Beds
2 Baths
5,656 Sq Ft
1964 Built

Last Sold July 25, 2018

Last sale price $1,565,000 $277 Per Sq Ft

28 Days on Market

About This Home

As of July 2018

Great Residential Street in North Long Beach. Tenants Love the proximity to the Freeways, Shopping and Entertainment. All 7 Units are 2 Br. 1 and 1/2 Bath. They actually have a Master Br. with the Half Bath and a Mirrored Make-up Ca mode. Two of the units have been Fully Re-habbed, with New White Shaker Cabinets, Grey Quartz< Laminate flooring and New fixtures and Appliances. There is an on-site Laundry and an area containing large floor to ceiling storage cabinets for the tenants use. Separately metered for Gas and Electric. Copper plumbing and roof is approx. 10 years old.

Last Agent to Sell the Property

Kirby Larson

Estate Properties License #00593173 Listed on: 04/13/2018

Estate Properties

Last Buyer's Agent

Ashraf Ahmed

Ashraf Ahmed, Broker License #01719072

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1964

Lot Details

  • 5,395 Sq Ft Lot
  • Two or More Common Walls
  • Density is 36-40 Units/Acre

Parking

  • 3 Car Garage

Home Design

  • Property Attached

Interior Spaces

  • 5,656 Sq Ft Home
  • 2-Story Property
  • Laundry Room

Bedrooms and Bathrooms

  • 2 Bedrooms
  • 2 Bathrooms

Listing and Financial Details

  • Tenant pays for cable TV, electricity, gas, telephone
  • Tax Lot 13
  • Tax Tract Number 5992
  • Assessor Parcel Number 7126011008

Community Details

Overview

  • No Home Owners Association
  • 7 Units

Amenities

  • Laundry Facilities

Building Details

  • 8 Separate Electric Meters
  • 8 Separate Gas Meters
  • 1 Separate Water Meter
  • Electric Expense $640
  • Fuel Expense $870
  • Gardener Expense $2,100
  • Insurance Expense $3,100
  • Maintenance Expense $4,442
  • Pest Control $250
  • Professional Management Expense $6,717
  • Water Sewer Expense $7,800
  • New Taxes Expense $19,800
  • Operating Expense $47,019
  • Net Operating Income $87,321

Property Details

Home Type

Multi-Family

Year Built

Built in 1964

Lot Details

0

Parking

3

Listing Details

  • CapRate: 5.50
  • Professional Management Expense: 6717.00
  • Property Attached: Yes
  • Subdivision Name Other: North Long Beach (NLB)
  • Water Sewer Expenses: 7800.00
  • Property Type: Residential Income
  • Gardener Expense: 2100.00
  • Parcel Number: 7126011008
  • Year Built: 1964
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Fireplace: No
  • Stories: 2
  • Common Walls: 2+ Common Walls
  • Levels: Two
  • Price Per Square Foot: 276.70

Exterior Features

  • Pool Private: No

Garage/Parking

  • Garage Spaces: 3.00
  • Total Parking Spaces: 3.00

Utilities

  • Laundry: Yes
  • Laundry Features: Community
  • Pest Control Expense: 250.00
  • Sewer: Public Sewer
  • Water Source: Public

Condo/Co-op/Association

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

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: 36-40 Units/Acre
  • Lot Size Sq Ft: 5395.00

Rental Info

  • Tenant Pays: Cable TV, Electricity, Gas, Telephone

Multi Family

  • Electric Expense: 640.00
  • Fuel Expense: 870.00
  • Gross Multiplier: 11.87
  • Gross Scheduled Income: 134340.00
  • Insurance Expense: 3100.00
  • Maintenance Expense: 4442.00
  • Maintenance Percent: 3.30
  • Net Operating Income: 87321.00
  • Number Of Separate Electric Meters: 8
  • Number Of Separate Gas Meters: 8
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 7
  • Operating Expense: 47019.00
  • Rent Control: No
  • Total Expenses: 47019.00

Tax Info

  • New Taxes Expense: 19800.00
  • Tax Lot: 13
  • Tax Tract Number: 5992
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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 List to Sale Price per Sq Ft
07/25/2018 07/25/18 Sold $1,565,000 -1.9% $277 / Sq Ft
05/01/2018 05/01/18 Price Changed $1,595,000 -3.3% $282 / Sq Ft
04/13/2018 04/13/18 For Sale $1,649,000 -- $292 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

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 $22,657 $1,555,500 $408,000 $1,147,500
2024 $22,657 $1,711,553 $328,093 $1,383,460
2023 $22,272 $1,677,994 $321,660 $1,356,334
2022 $20,911 $1,645,093 $315,353 $1,329,740
2021 $20,528 $1,612,837 $309,170 $1,303,667
2020 $20,424 $1,596,300 $306,000 $1,290,300
2019 $20,185 $1,565,000 $300,000 $1,265,000
2018 $18,171 $1,412,000 $412,000 $1,000,000
2017 $11,953 $889,769 $222,440 $667,329
2016 $11,101 $872,324 $218,079 $654,245
2015 $10,668 $859,222 $214,804 $644,418
2014 $10,620 $842,392 $210,597 $631,795
Source: Public Records

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PV18089689

California Regional Multiple Listing Service (CRMLS)