NOT LISTED FOR SALE
19 Beds
19 Baths
6,938 Sq Ft
7,492 Sq Ft

Last Sold October 23, 2013

Last sale price $1,449,000 $209 Per Sq Ft

18 Days on Market

Highlights

  • No HOA
  • Long Beach Polytechnic High School Rated A
  • Controlled Access

About This Home

As of October 2013

This is a newer, (1987-built,) 10 unit apartment building on a major east/west corridor, (7th St,) between downtown Long Beach and Cal State LB. The unit mix includes 2, 1 bedroom/1 baths, and 8, 2 bedroom, 2 baths. Although there are no vacancies to see, the manager of the building has described the units as being in good condition. There are balconies and vaulted ceilings with some of the units. There is ample parking for the residents with 14 gated spaces on the ground level. There is upside potential in rents and in potential laundry and parking income. *Market income and expenses used for analysis.

Last Agent to Sell the Property

Adam Feldman

Adam Feldman, Broker License #01018635 Listed on: 09/16/2013

Last Buyer's Agent

Joshua Cohen

Keller Williams Realty License #01346713

Keller Williams Realty

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1986

Lot Details

  • 7,499 Sq Ft Lot
  • Two or More Common Walls
  • Density is up to 1 Unit/Acre

Home Design

  • 6,938 Sq Ft Home
  • Property Attached

Bedrooms and Bathrooms

  • 19 Bedrooms
  • 19 Bathrooms

Parking

  • 14 Parking Spaces
  • 14 Carport Spaces
  • Parking Available
  • Assigned Parking

Listing and Financial Details

  • Tax Lot 001
  • Tax Tract Number 2
  • Assessor Parcel Number 7267028003

Community Details

Overview

  • No Home Owners Association
  • 10 Units

Building Details

  • 10 Leased Units
  • 11 Separate Electric Meters
  • 11 Separate Gas Meters
  • 1 Separate Water Meter
  • Gross Income $11,112
  • Net Operating Income $83,610

Security

  • Controlled Access

Property Details

Home Type

Multi-Family

Year Built

Built in 1986

Lot Details

7,499 Sq Ft Lot

Listing Details

  • Assessments: Yes
  • CapRate: 5.77
  • Property Attached: Yes
  • Subdivision Name Other: Alamitos Beach (AB)
  • Property Type: Residential Income
  • Parcel Number: 7267028003
  • Year Built: 1986
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Common Walls: 2+ Common Walls
  • Levels: Three Or More
  • Price Per Square Foot: 208.85

Exterior Features

  • Pool Private: No

Garage/Parking

  • Carport Spaces: 14.00
  • Parking: Yes
  • Parking Features: Assigned
  • Total Parking Spaces: 14.00

Utilities

  • Utilities: Sewer Available

Condo/Co-op/Association

  • Association: No
  • Amenities: Controlled Access
  • Community Features: Curbs

Lot Info

  • Lot Features: 0-1 Unit/Acre
  • Lot Size Sq Ft: 7499.00
  • Lot Size Acres: 0.1720

Multi Family

  • Average1 Bed Area: 590
  • Average2 Bed Area: 720
  • Gross Income: 11112.00
  • Gross Multiplier: 10.87
  • Gross Scheduled Income: 133350.00
  • Lot Size Area: 7499.0000 Square Feet
  • Net Operating Income: 83610.00
  • Number Of Separate Electric Meters: 11
  • Number Of Separate Gas Meters: 11
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 10
  • Number Of Units Total: 10
  • Operating Expense: 43072.00
  • Operating Expense Percent: 34.00
  • Rent Control: No
  • Total Actual Rent: 10175.00
  • Vacancy Allowance Rate: 5.00

Tax Info

  • Tax Lot: 001
  • Tax Tract Number: 002
  • Tax Year: 2012
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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
10/23/2013 10/23/13 Sold $1,449,000 0.0% $209 / Sq Ft
10/04/2013 10/04/13 Pending -- -- --
09/16/2013 09/16/13 For Sale $1,449,000 -- $209 / 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 $23,552 $1,776,267 $1,225,859 $550,408
2024 $23,552 $1,741,439 $1,201,823 $539,616
2023 $23,144 $1,707,294 $1,178,258 $529,036
2022 $21,742 $1,673,818 $1,155,155 $518,663
2021 $21,277 $1,640,999 $1,132,505 $508,494
2020 $21,221 $1,624,974 $1,120,893 $504,081
2019 $20,973 $1,593,128 $1,098,915 $494,213
2018 $20,387 $1,561,907 $1,077,368 $484,539
2017 $20,171 $1,530,498 $1,056,244 $474,254
2016 $18,750 $1,500,489 $1,035,534 $464,955
2015 $18,009 $1,477,951 $1,019,980 $457,971
2014 $17,915 $1,449,000 $1,000,000 $449,000
Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PW13190490

California Regional Multiple Listing Service (CRMLS)
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