NOT LISTED FOR SALE

1629 Cedar Ave Long Beach, CA 90813

Washington School Neighborhood

Estimated Value: $951,000 - $1,278,000

8 Beds
4 Baths
3,091 Sq Ft
$371/Sq Ft Est. Value

Sale Details

Date Sold: October 15, 2017

Last sale price $770,000 $249 Per Sq Ft

Est. 49% increase in value since last sale

Current estimated payment $7,222 / mo

4 Days on Market

Highlights

  • No Units Above
  • Property is near public transit
  • Level Lot

About This Home

As of October 2017

Well maintained 4 unit garden style building in a strong rental area of Long Beach. Each unit has 2 bedrooms and 1 bath and all the units have been upgraded in the past two years. Each unit also has a one car garage. With current rents this building generates close to a 7% cap rate. Buyer to cooperate with seller on a 1031 exchange. Agents please see showing instructions. Excellent investment property.

Last Agent to Sell the Property

Greg Sorah

S & L Property Sales License #00481575 Listed on: 09/01/2017

Last Buyer's Agent

Greg Sorah

S & L Property Sales License #00481575 Listed on: 09/01/2017

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1942

Lot Details

  • 7,551 Sq Ft Lot
  • No Units Above
  • Two or More Common Walls
  • Level Lot
  • Density is 11-15 Units/Acre

Parking

  • 4 Car Garage

Home Design

  • 3,091 Sq Ft Home
  • Quadruplex

Bedrooms and Bathrooms

  • 8 Bedrooms
  • 4 Bathrooms

Additional Features

  • Laundry in unit
  • Exterior Lighting
  • Property is near public transit
  • Sewer Paid

Listing and Financial Details

  • Tax Lot 4
  • Tax Tract Number 22222
  • Assessor Parcel Number 7269039012

Community Details

Building Details

  • 4 Leased Units
  • 4 Separate Electric Meters
  • 4 Separate Gas Meters
  • 1 Separate Water Meter
  • Electric Expense $360
  • Insurance Expense $2,000
  • Trash Expense $2,300
  • Water Sewer Expense $3,100
  • New Taxes Expense $7,500
  • Operating Expense $15,260
  • Gross Income $3,000
  • Net Operating Income $47,000

Additional Features

  • 4 Units
  • Laundry Facilities

Property Details

Home Type

Multi-Family

Year Built

Built in 1942

Lot Details

7,551 Sq Ft Lot

Parking

4

Listing Details

  • Assessments: No
  • CapRate: 6.67
  • Property Attached: Yes
  • Subdivision Name Other: Alamitos Beach (AB)
  • Water Sewer Expenses: 3100.00
  • Zoning: LBR4N
  • Property Sub Type: Quadruplex
  • Property Type: Residential Income
  • Parcel Number: 7269039012
  • Year Built: 1942
  • Special Features: None

Interior Features

  • Common Walls: 2+ Common Walls, No One Above
  • Price Per Square Foot: 249.11

Exterior Features

  • Pool Private: No

Garage/Parking

  • Garage Spaces: 4.00
  • Total Parking Spaces: 4.00

Utilities

  • Laundry: Yes
  • Laundry Features: Community
  • Sewer: Public Sewer, Sewer Paid
  • Trash Expense: 2300.00
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No
  • Community Features: Curbs, Sidewalks, Street Lights

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: 11-15 Units/Acre, Lot 6500-9999, Level, Near Public Transit
  • Lot Size Sq Ft: 7551.00

Multi Family

  • Electric Expense: 360.00
  • Gross Income: 3000.00
  • Gross Multiplier: 11.30
  • Gross Scheduled Income: 60000.00
  • Insurance Expense: 2000.00
  • Laundry Equipment Own Lease: Own
  • Laundry Income: 250.00
  • Net Operating Income: 47000.00
  • Number Of Rented Garages: 4
  • Number Of Separate Electric Meters: 4
  • Number Of Separate Gas Meters: 4
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 4
  • Number Of Units Total: 4
  • Operating Expense: 13000.00
  • Rent Control: No
  • Total Actual Rent: 4800.00
  • Total Expenses: 15260.00
  • Vacancy Allowance Rate: 3.00

Tax Info

  • New Taxes Expense: 7500.00
  • Tax Census Tract: 5754.01
  • Tax Lot: 4
  • Tax Tract Number: 22222

Ownership History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Name Owned For Owner Type

Purchase Details

Listed on
Sep 1, 2017
Closed on
Sep 14, 2017
Sold by
Bought by
Seller's Agent
Greg Sorah
S & L Property Sales
Buyer's Agent
Greg Sorah
S & L Property Sales
List Price
$679,000
Sold Price
$770,000
Premium/Discount to List
$91,000
13.4%
Current Estimated Value
$1,145,528

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$375,528
Avg. Annual Appreciation
4.64%
Original Mortgage
$612,000
Outstanding Balance
$508,726
Interest Rate
3.82%
Mortgage Type
New Conventional
Estimated Equity
$636,802

Purchase Details

Closed on
Feb 27, 2012
Sold by
Bought by

Purchase Details

Closed on
Jan 3, 2011
Sold by
Bought by

Purchase Details

Closed on
Jul 15, 2005
Sold by
Bought by

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$552,800
Interest Rate
6%
Mortgage Type
Fannie Mae Freddie Mac

Purchase Details

Closed on
Jan 10, 2005
Sold by
Bought by

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$420,000
Interest Rate
7.87%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
Nov 22, 2004
Sold by
Bought by

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$420,000
Interest Rate
7.87%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
Mar 31, 2004
Sold by
Bought by

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$468,000
Interest Rate
7.62%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
Mar 4, 2004
Sold by
Bought by

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$468,000
Interest Rate
7.62%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
Nov 4, 2003
Sold by
Bought by

Purchase Details

Closed on
Jan 28, 2003
Sold by
Bought by

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$360,000
Interest Rate
5.71%

Purchase Details

Closed on
Jun 12, 2002
Sold by
Bought by

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$160,000
Interest Rate
6.86%

Purchase Details

Closed on
May 29, 2002
Sold by
Bought by

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$160,000
Interest Rate
6.86%

Purchase Details

Closed on
Mar 18, 2002
Sold by
Bought by

Purchase Details

Closed on
Jan 22, 2002
Sold by
Bought by

Purchase Details

Closed on
Nov 5, 2001
Sold by
Bought by

Purchase Details

Closed on
Dec 23, 1997
Sold by
Bought by

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$282,772
Interest Rate
7.06%
Mortgage Type
FHA

Purchase Details

Closed on
Oct 2, 1997
Sold by
Bought by

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$133,930
Interest Rate
7.54%

Purchase Details

Closed on
Sep 25, 1997
Sold by
Bought by

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$133,930
Interest Rate
7.54%

Purchase Details

Closed on
Jul 11, 1997
Sold by
Bought by
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

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Buyer Sale Price Title Company
$765,000 Western Resources Title Co
$380,000 Lawyers Title Company
$634,934 Landsafe Title
$691,000 United Title Company Westlak
-- United Title Company-La
$600,000 United Title Company-La
$520,000 Investors Title Company
-- Investors Title Company
$1,000 --
$380,000 Fidelity
$240,000 First Southwestern Title Co
$240,000 First Southwestern Title Co
-- First American Title Ins Co
-- --
$298,225 First American Title Ins Co
$295,000 Southland Title Corporation
-- First American Title Co
$120,000 First American Title Co
$150,000 --
Source: Public Records

Mortgage History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Status Borrower Loan Amount
Open $612,000
Previous Owner $552,800
Previous Owner $420,000
Previous Owner $468,000
Previous Owner $360,000
Previous Owner $160,000
Previous Owner $282,772
Previous Owner $133,930
Closed $44,000
Closed $67,500
Closed $26,000
Closed $180,000
Source: Public Records

Property History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Event Price List to Sale Price per Sq Ft
10/15/2017 10/15/17 Sold $770,000 +13.4% $249 / Sq Ft
09/05/2017 09/05/17 Pending -- -- --
09/01/2017 09/01/17 For Sale $679,000 -- $220 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

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 $11,978 $870,435 $341,347 $529,088
2024 $11,456 $853,368 $334,654 $518,714
2023 $11,261 $836,637 $328,093 $508,544
2022 $10,583 $820,233 $321,660 $498,573
2021 $10,363 $804,151 $315,353 $488,798
2020 $10,335 $795,906 $312,120 $483,786
2019 $10,214 $780,300 $306,000 $474,300
2018 $9,827 $765,000 $300,000 $465,000
2016 $5,277 $403,193 $265,259 $137,934
2015 $5,076 $397,138 $261,275 $135,863
2014 $5,060 $389,359 $256,157 $133,202
Source: Public Records

Agents Affiliated with this Home

  • Greg Sorah

    Seller's Agent in 2017

    Greg Sorah

    S & L Property Sales

    (714) 804-0737

    12 Total Sales

    Greg Sorah
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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PW17202981

California Regional Multiple Listing Service (CRMLS)

APN: 7269-039-012

California Los Angeles County Long Beach 90813 Washington School

1629 Cedar Ave, Long Beach, CA

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California Regional Multiple Listing Service (CRMLS) The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.

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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