Seller's Agent in 2019
Robert Stepp
Keller Williams Realty Downey
(310) 463-2916
5 in this area
76 Total Sales
1618 E Appleton St Long Beach, CA 90802
Alamitos Beach NeighborhoodEstimated Value: $1,419,968 - $1,840,000
2
Beds
2
Baths
3,180
Sq Ft
$505/Sq Ft
Est. Value
Highlights
- 0.09 Acre Lot
- Home Office
- Crown Molding
- Long Beach Polytechnic High School Rated A
- Built-In Features
- Tile Countertops
About This Home
As of October 20191612 - 1618 E. Appleton Avenue is a 4-unit investment opportunity in prime Alamitos Beach, just blocks from the Ocean and Bike Path.
The building features spacious one-bedroom units, two of which have a bonus office rooms. The units have 1920's character and detailing, with hardwood flooring, crown molding, built-ins and ceiling fans. The building provides laundry income, is separately metered for gas and electric, and has a community outdoor patio. This property provides an excellent opportunity for an investor to own an easily manageable asset with 22%+/- upside potential just blocks from the beach in the most desirable rental market in Long Beach. Nestled between downtown Long Beach and Belmont Shore is the charming, popular coastal neighborhood of Alamitos Beach. The area is within minutes of the best that Long Beach has to offer. Residents can walk to the wide sandy beach, bike path and volleyball courts, as well quaint bars and restaurants along the Broadway Corridor and trendy shops, restaurants and bars on Fourth Street-Retro Row. The area is also adjacent to booming Downtown Long Beach and its multitude of employment opportunities.
Last Agent to Sell the Property
Keller Williams Realty Downey License #01456379 Listed on: 08/05/2019
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1922
Lot Details
- 4,136 Sq Ft Lot
- No Common Walls
- Density is 2-5 Units/Acre
Interior Spaces
- 3,180 Sq Ft Home
- Built-In Features
- Crown Molding
- Ceiling Fan
- Home Office
- Tile Countertops
- Laundry Room
Bedrooms and Bathrooms
- 2 Bedrooms
- 2 Bathrooms
Additional Features
- Exterior Lighting
- Urban Location
Listing and Financial Details
- Legal Lot and Block 7 / 103
- Tax Tract Number 5766
- Assessor Parcel Number 7275012007
Community Details
Building Details
- 4 Separate Electric Meters
- 4 Separate Gas Meters
- 4 Separate Water Meters
- Electric Expense $462
- Fuel Expense $462
- Gardener Expense $1,200
- Insurance Expense $1,272
- Maintenance Expense $1,500
- Other Expense $700
- Pest Control $500
- Professional Management Expense $3,213
- Trash Expense $462
- Water Sewer Expense $462
- New Taxes Expense $14,837
- Operating Expense $25,569
- Gross Income $64,250
- Net Operating Income $38,681
Additional Features
- 4 Units
- Laundry Facilities
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
Aug 5, 2019
Closed on
Oct 23, 2019
Sold by
Lo Stephen I Lo and Lo Fong Mei Lo
Bought by
Weber Charles E and Weber Catherine A
Seller's Agent
Robert Stepp
Keller Williams Realty Downey
Buyer's Agent
Eileen Rivera
GE Dean and Associates
List Price
$1,175,000
Sold Price
$1,160,000
Premium/Discount to List
-$15,000
-1.28%
Current Estimated Value
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$446,742
Avg. Annual Appreciation
5.43%
Original Mortgage
$873,750
Outstanding Balance
$765,449
Interest Rate
3.5%
Mortgage Type
New Conventional
Estimated Equity
$841,293
Purchase Details
Closed on
May 24, 2019
Sold by
Lo Stephen I and Lo Fong Mei Chan
Bought by
Lo Stephen and Lo Fong Mei
Purchase Details
Closed on
Jul 23, 2012
Sold by
Flynn John T
Bought by
Lo Stephen I and Lo Fong Mei Chan
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$378,750
Interest Rate
3.5%
Mortgage Type
New Conventional
Purchase Details
Closed on
Jan 11, 2005
Sold by
Flynn Elida O
Bought by
Flynn John T
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$578,150
Interest Rate
1.37%
Mortgage Type
New Conventional
Purchase Details
Closed on
Nov 18, 2004
Sold by
Barber Michael
Bought by
Flynn John T
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$578,150
Interest Rate
1.37%
Mortgage Type
New Conventional
Purchase Details
Closed on
Mar 11, 2004
Sold by
Richman Leon H and Richman Diana L
Bought by
Barber Michael
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$519,200
Interest Rate
4.21%
Mortgage Type
Purchase Money Mortgage
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area
Home Values in the Area
Average Home Value in this Area
Purchase History
| Date | Buyer | Sale Price | Title Company |
|---|---|---|---|
| Weber Charles E | $1,160,000 | Stewart Title Of Ca Inc | |
| Lo Stephen | -- | None Available | |
| Lo Stephen I | $505,000 | Priority Title Company | |
| Flynn John T | -- | Lawyers Title | |
| Flynn John T | $725,000 | Lawyers Title | |
| Barber Michael | $649,000 | Fidelity National Title Co L |
Source: Public Records
Mortgage History
| Date | Status | Borrower | Loan Amount |
|---|---|---|---|
| Open | Weber Charles E | $873,750 | |
| Previous Owner | Lo Stephen I | $378,750 | |
| Previous Owner | Flynn John T | $578,150 | |
| Previous Owner | Barber Michael | $519,200 |
Source: Public Records
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 10/29/2019 10/29/19 | Sold | $1,160,000 | -1.3% | $365 / Sq Ft |
| 10/14/2019 10/14/19 | Pending | -- | -- | -- |
| 08/05/2019 08/05/19 | For Sale | $1,175,000 | -- | $369 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
Tax History Compared to Growth
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 | $16,242 | $1,268,624 | $437,456 | $831,168 |
| 2024 | $16,242 | $1,243,750 | $428,879 | $814,871 |
| 2023 | $15,968 | $1,219,364 | $420,470 | $798,894 |
| 2022 | $14,985 | $1,195,456 | $412,226 | $783,230 |
| 2021 | $14,684 | $1,172,017 | $404,144 | $767,873 |
| 2019 | $7,459 | $557,928 | $220,780 | $337,148 |
| 2018 | $7,255 | $546,998 | $216,451 | $330,547 |
| 2016 | $6,669 | $525,317 | $208,047 | $317,270 |
| 2015 | $6,409 | $517,427 | $204,922 | $312,505 |
| 2014 | $6,379 | $507,292 | $200,908 | $306,384 |
Source: Public Records
Agents Affiliated with this Home
-
Robert Stepp
-
Eileen Rivera
Buyer's Agent in 2019
Eileen Rivera
GE Dean and Associates
(562) 688-9809
1 in this area
65 Total Sales
-
Grace Olson
G
Buyer Co-Listing Agent in 2019
Grace Olson
GE Dean and Associates
(562) 980-2946
1 in this area
30 Total Sales
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: PW19186419
APN: 7275-012-007
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Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
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