NOT LISTED FOR SALE

1605 E Broadway Long Beach, CA 90802

Alamitos Beach Neighborhood

Estimated Value: $1,637,000 - $1,819,000

8 Beds
4 Baths
3,312 Sq Ft
$520/Sq Ft Est. Value

Last Sold August 09, 2016

Last sale price $890,000 $269 Per Sq Ft

Est. 93% increase in value since last sale

Current estimated payment $10,163/month

50 Days on Market

About This Home

As of August 2016

Price reduction! We proudly present this 1920's 4 unit building, which offers well sized 2 bedroom and 1 bathroom apartments. Additionally there is 1 Car Garage and a shared driveway also provides some onsite parking. All units have in-unit laundry hook ups. A rear courtyard gives some common area exterior space as well. Located just blocks from the beach, the neighborhood is highly desirable, and is in centrally located to Downtown, 2nd St, Retro Row, CSULB, as well as the 710 and 405 Freeways. Public transportation is readily available, along with shopping, and other area amenities.

Last Agent to Sell the Property

Wade Tettenburn

Palazzo Realty Inc. License #01246595 Listed on: 05/27/2016

Last Buyer's Agent

Lisa Pearce

Arico & Associates, Inc. License #01337908

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1920

Lot Details

  • 4,120 Sq Ft Lot
  • Two or More Common Walls
  • Density is up to 1 Unit/Acre

Parking

  • 1 Car Garage
  • Parking Available
  • Shared Driveway

Home Design

  • 3,312 Sq Ft Home
  • Property Attached

Bedrooms and Bathrooms

  • 8 Bedrooms
  • 4 Bathrooms

Listing and Financial Details

  • Tax Lot 6
  • Assessor Parcel Number 7275012006

Community Details

Overview

  • 4 Units

Building Details

  • 4 Leased Units
  • 4 Separate Electric Meters
  • 5 Separate Gas Meters
  • 1 Separate Water Meter
  • Insurance Expense $1,530
  • Water Sewer Expense $1,600
  • New Taxes Expense $11,862
  • Gross Income $5,745
  • Net Operating Income $51,880

Property Details

Home Type

Multi-Family

Year Built

Built in 1920

Lot Details

0

Parking

1

Listing Details

  • Assessments: Yes
  • Property Attached: Yes
  • Subdivision Name Other: Alamitos Beach (AB)
  • Water Sewer Expenses: 1600.00
  • Property Type: Residential Income
  • Parcel Number: 7275012006
  • Year Built: 1920
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Common Walls: 2+ Common Walls
  • Levels: Two
  • Price Per Square Foot: 268.72

Exterior Features

  • Pool Private: No

Garage/Parking

  • Garage Spaces: 1.00
  • Parking: Yes
  • Parking Features: Shared Driveway
  • Total Parking Spaces: 3.00

Utilities

  • Utilities: Sewer Connected
  • Water Source: Public

Condo/Co-op/Association

  • Community Features: Curbs

Lot Info

  • Land Lease: No
  • Lot Features: 0-1 Unit/Acre
  • Lot Size Sq Ft: 4120.00
  • Price Per Lot Square Foot: 216.02

Multi Family

  • Average2 Bed Area: 828
  • Gross Income: 5745.00
  • Gross Scheduled Income: 68940.00
  • Insurance Expense: 1530.00
  • Net Operating Income: 51880.00
  • Number Of Rented Garages: 1
  • Number Of Separate Electric Meters: 4
  • Number Of Separate Gas Meters: 5
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 4
  • Number Of Units Total: 4
  • Operating Expense: 14992.00
  • Other Income Description: Garage
  • Rent Control: No
  • Total Actual Rent: 4295.00
  • Vacancy Allowance Rate: 3.00

Tax Info

  • New Taxes Expense: 11862.00
  • Tax Lot: 6

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
May 27, 2016
Closed on
Jun 13, 2016
Sold by
Long Beach Trading Company Inc
Bought by
Fine Bradley Lowell and Fine Jessica Leigh
Seller's Agent
Wade Tettenburn
Palazzo Realty Inc.
Buyer's Agent
Lisa Pearce
Arico & Associates, Inc.
List Price
$949,000
Sold Price
$890,000
Premium/Discount to List
-$59,000
-6.22%
Current Estimated Value
$1,721,333

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$831,333
Avg. Annual Appreciation
7.29%
Original Mortgage
$623,000
Interest Rate
3.56%
Mortgage Type
New Conventional

Purchase Details

Closed on
Apr 18, 2016
Sold by
Lynds Gregory
Bought by
Long Beach Trading Company Inc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$623,000
Interest Rate
3.56%
Mortgage Type
New Conventional

Purchase Details

Closed on
Jul 12, 2005
Sold by
Lynds Gregory S
Bought by
Lynds Gregory and Lynds Maureen

Purchase Details

Closed on
Apr 19, 1999
Sold by
Dhillon Jasbir
Bought by
Lynds Gregory S and Lynds Maureen Murphy

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$212,800
Interest Rate
7.05%

Purchase Details

Closed on
Jul 23, 1998
Sold by
Bruce Norris Financial Group Inc
Bought by
Dhillon Jasbir

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$150,000
Interest Rate
7%

Purchase Details

Closed on
Jul 21, 1998
Sold by
Davis Kevin B
Bought by
Bruce Norris Financial Group Inc and The Norris Group

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$150,000
Interest Rate
7%

Purchase Details

Closed on
Jul 14, 1998
Sold by
Davis Kari L
Bought by
Davis Kevin B

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$150,000
Interest Rate
7%

Purchase Details

Closed on
Jul 13, 1998
Sold by
Washington Mutual Bank Fa
Bought by
Davis Kevin B

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$150,000
Interest Rate
7%

Purchase Details

Closed on
Feb 18, 1998
Sold by
Hillman Rick
Bought by
Washington Mutual Bank Fa and American Svgs Bank Fa
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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Average Value
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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
Fine Bradley Lowell $890,000 Old Republic Title
Long Beach Trading Company Inc -- None Available
Lynds Gregory -- --
Lynds Gregory S $266,000 Chicago Title
Dhillon Jasbir -- American Title Co
Bruce Norris Financial Group Inc -- American Title Co
Davis Kevin B -- Investors Title
Davis Kevin B $140,000 Investors Title
Washington Mutual Bank Fa $209,302 Stewart Title
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Fine Bradley Lowell $623,000
Previous Owner Lynds Gregory S $212,800
Previous Owner Davis Kevin B $150,000
Closed Lynds Gregory S $26,600
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
08/09/2016 08/09/16 Sold $890,000 -6.2% $269 / Sq Ft
06/10/2016 06/10/16 Pending -- -- --
04/21/2016 04/21/16 For Sale $949,000 -- $287 / 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 $13,412 $1,032,916 $464,232 $568,684
2024 $13,412 $1,012,664 $455,130 $557,534
2023 $13,185 $992,808 $446,206 $546,602
2022 $12,380 $973,342 $437,457 $535,885
2021 $12,125 $954,258 $428,880 $525,378
2019 $11,952 $925,956 $416,160 $509,796
2018 $11,618 $907,800 $408,000 $499,800
2016 $4,668 $352,251 $105,938 $246,313
2015 $4,491 $346,961 $104,347 $242,614
2014 $4,479 $340,165 $102,303 $237,862
Source: Public Records

Agents Affiliated with this Home

  • W

    Seller's Agent in 2016

    Wade Tettenburn

    Palazzo Realty Inc.

    (562) 400-0091

    3 Total Sales

    Wade Tettenburn
    Section Image

  • L

    Buyer's Agent in 2016

    Lisa Pearce

    Arico & Associates, Inc.

    (310) 994-7517

    5 Total Sales

    Lisa Pearce
    Section Image
See All Agents

Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PW16083716

California Regional Multiple Listing Service (CRMLS)

APN: 7275-012-006

California Los Angeles County Long Beach 90802 Alamitos Beach

1605 E Broadway, Long Beach, CA

Not Listed for Sale

MultiFamily

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