NOT LISTED FOR SALE

1622 Orange Ave Long Beach, CA 90813

Central Neighborhood

Estimated Value: $1,268,000

2 Beds
1 Bath
6,329 Sq Ft
$200/Sq Ft Est. Value

Last Sold March 21, 2017

Last sale price $1,100,000 $174 Per Sq Ft

Est. 15% increase in value since last sale

Current estimated payment $8,209/month

29 Days on Market

About This Home

As of March 2017

1622 Orange Avenue is a mixed-use property in Long Beach, California. It is located just south of Pacific Coast Highway near the intersection of Alamitos Avenue and East 17th Street. The property is just steps from Rosa Parks Park, one-third of a mile from each Long Beach Polytechnical High School, Whittier Elementary School and Long Beach City College’s Pacific Coast Campus.

1622 Orange Avenue comprises two buildings that offer a total of five two-bedroom/one-bath units and one commercial space. The commercial space was previously used as a bar and is currently available for lease. A billboard atop the front building is leased month-to-month and generates additional income.

This property is lender-owned and is an REO sale; the seller will consider financing a qualified buyer. With current rents below market rates, 1622 Orange Avenue presents an excellent opportunity for an astute investor to add value and capture substantial upside in rents.

Last Agent to Sell the Property

Steve Bogoyevac

Steven M. Bogoyevac, Broker License #01332755 Listed on: 02/08/2017

Last Buyer's Agent

Steve Bogoyevac

Steven M. Bogoyevac, Broker License #01332755 Listed on: 02/08/2017

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1963

Lot Details

  • 5,718 Sq Ft Lot
  • No Common Walls
  • Density is 2-5 Units/Acre

Home Design

  • 6,329 Sq Ft Home

Bedrooms and Bathrooms

  • 2 Bedrooms
  • 1 Bathroom

Location

  • Urban Location

Listing and Financial Details

  • Tax Lot 48
  • Tax Tract Number 5752
  • Assessor Parcel Number 7268031028

Community Details

Overview

  • 2 Buildings
  • 5 Units

Building Details

  • 5 Separate Electric Meters
  • 5 Separate Gas Meters
  • Operating Expense $29,023
  • Net Operating Income $69,473

Property Details

Home Type

Multi-Family

Year Built

Built in 1963

Lot Details

0

Listing Details

  • CapRate: 6.32
  • Property Attached: No
  • Subdivision Name Other: Poly High (PH)
  • Zoning: LBR34
  • Property Type: Residential Income
  • Parcel Number: 7268031028
  • Year Built: 1963
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Common Walls: No Common Walls
  • Price Per Square Foot: 173.80

Exterior Features

  • Pool Private: No

Utilities

  • Sewer: Public Sewer
  • Water Source: Public

Condo/Co-op/Association

  • Community Features: Urban

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: 2-5 Units/Acre
  • Lot Size Sq Ft: 5718.00

Multi Family

  • Gross Multiplier: 10.61
  • Gross Scheduled Income: 103680.00
  • Net Operating Income: 69473.00
  • Number Of Separate Electric Meters: 5
  • Number Of Separate Gas Meters: 5
  • Number Of Units Total: 5
  • Operating Expense: 29023.00
  • Rent Control: No
  • Total Expenses: 29023.00

Tax Info

  • Tax Census Tract: 5752.01
  • Tax Lot: 48
  • Tax Tract Number: 5752.0

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Feb 23, 2018
Sold by
Weiner Douglas and Merrill Roark
Bought by
Dwrm Partnership Llc
Current Estimated Value
$1,268,000

Purchase Details

Listed on
Feb 8, 2017
Closed on
Mar 10, 2017
Sold by
Rjs Financial Inc
Bought by
Weiner Douglas and Merrill Roark
Seller's Agent
Steve Bogoyevac
Steven M. Bogoyevac, Broker
Buyer's Agent
Steve Bogoyevac
Steven M. Bogoyevac, Broker
List Price
$1,200,000
Sold Price
$1,100,000
Premium/Discount to List
-$100,000
-8.33%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$800,000
Interest Rate
4.19%
Mortgage Type
Seller Take Back

Purchase Details

Closed on
Sep 20, 2016
Sold by
West Cheryl Denise
Bought by
Rjs Financial Inc

Purchase Details

Closed on
Sep 18, 2007
Sold by
Ballinger Suzanne Birt and West Cheryl Denise
Bought by
West Cheryl Denise

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$611,000
Interest Rate
6.46%
Mortgage Type
Commercial
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
Dwrm Partnership Llc -- None Available
Weiner Douglas $1,100,000 Orange Coast Title Co Socal
Rjs Financial Inc $650,852 None Available
West Cheryl Denise -- Fidelity National Title Co
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Weiner Douglas $800,000
Previous Owner West Cheryl Denise $611,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
03/21/2017 03/21/17 Sold $1,100,000 0.0% $174 / Sq Ft
03/09/2017 03/09/17 Pending -- -- --
03/06/2017 03/06/17 Price Changed $1,100,000 -8.3% $174 / Sq Ft
02/08/2017 02/08/17 For Sale $1,200,000 -- $190 / 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 $18,781 $1,435,480 $500,643 $934,837
2024 $18,781 $1,407,334 $490,827 $916,507
2023 $18,465 $1,379,740 $481,203 $898,537
2022 $17,345 $1,352,687 $471,768 $880,919
2021 $16,977 $1,326,165 $462,518 $863,647
2020 $16,931 $1,312,568 $457,776 $854,792
2019 $15,012 $1,144,440 $416,160 $728,280
2018 $14,558 $1,122,000 $408,000 $714,000
2016 $6,366 $472,868 $178,850 $294,018
2015 $6,128 $465,766 $176,164 $289,602
2014 $6,095 $456,644 $172,714 $283,930
Source: Public Records

Agents Affiliated with this Home

  • S

    Seller's Agent in 2017

    Steve Bogoyevac

    Steven M. Bogoyevac, Broker

    (562) 257-1231

    2 in this area

    89 Total Sales

    Steve Bogoyevac
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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PW17026667

California Regional Multiple Listing Service (CRMLS)

APN: 7268-031-028

California Los Angeles County Long Beach 90813 Central

1622 Orange Ave, Long Beach, CA

Not Listed for Sale

MultiFamily

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