NOT LISTED FOR SALE
10 Beds
10 Baths
6,200 Sq Ft
7,497 Sq Ft Lot

Last Sold January 31, 2018

Last sale price $1,185,000 $191 Per Sq Ft

87 Days on Market

Highlights

  • No HOA
  • Fireplace
  • Level Lot
  • Long Beach Polytechnic High School Rated A
  • Laundry Room

About This Home

As of January 2018

10 unit multi-family apartments less than 2 miles from downtown. Great investment opportunity. Many long term tenants. 100% occupied. Gross Annual Income: $104,400. Two buildings total with front Building: six (1bed/1bath) units rented for $800/month and two rented for $850. Back Building: Duplex (1bed/1 bath & 2bed/1.5 bath) rented for $1,150 and $1,000 monthly respectively. Front units are studio-like units and are roughly 500 sq. ft. Buyers to verify.

Last Agent to Sell the Property

Omar Gomez

CLJ Realty Group License #01899447 Listed on: 08/25/2017

Co-Listed By

Cornelius Jackson

Haus Of Real Estate, Inc License #01824362

Last Buyer's Agent

Daron Case

Re/Max Commercial & Investment License #01702754

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1920

Lot Details

  • 7,497 Sq Ft Lot
  • Two or More Common Walls
  • Level Lot

Home Design

  • Property Attached

Interior Spaces

  • 6,200 Sq Ft Home
  • Fireplace
  • Laundry Room

Bedrooms and Bathrooms

  • 10 Bedrooms
  • 10 Bathrooms

Home Security

  • Security Lights
  • Carbon Monoxide Detectors
  • Fire and Smoke Detector

Outdoor Features

  • Fireplace in Patio

Listing and Financial Details

  • Tenant pays for electricity
  • Legal Lot and Block 2 / 1
  • Tax Tract Number 4014
  • Assessor Parcel Number 7269011002

Community Details

Overview

  • No Home Owners Association
  • 2 Buildings
  • 10 Units

Amenities

  • Laundry Facilities

Building Details

  • 10 Leased Units
  • 10 Separate Electric Meters
  • 1 Separate Gas Meter
  • 1 Separate Water Meter
  • Professional Management Expense $10,440
  • Trash Expense $4,800
  • Water Sewer Expense $6,600
  • Operating Expense $20,100
  • Net Operating Income $84,300

Property Details

Home Type

Multi-Family

Year Built

Built in 1920

Lot Details

0

Listing Details

  • Assessments: Yes
  • Professional Management Expense: 10440.00
  • Property Attached: Yes
  • Security: Carbon Monoxide Detector(s), Fire and Smoke Detection System, Security Lights, Smoke Detector(s)
  • Subdivision Name Other: Alamitos Beach (AB)
  • Water Sewer Expenses: 6600.00
  • Zoning: LBR4R
  • Property Type: Residential Income
  • Parcel Number: 7269011002
  • Year Built: 1920
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Fireplace: Yes
  • Common Walls: 2+ Common Walls
  • Fireplace Features: Patio
  • Levels: Two
  • Price Per Square Foot: 191.13

Exterior Features

  • Pool Private: No

Utilities

  • Laundry: Yes
  • Laundry Features: Community
  • Sewer: Public Sewer
  • Trash Expense: 4800.00
  • Water Source: Public

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Community Features: Sidewalks

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: Level with Street
  • Lot Size Sq Ft: 7497.00

Rental Info

  • Tenant Pays: Electricity

Multi Family

  • Gross Scheduled Income: 104400.00
  • Laundry Equipment Own Lease: Own
  • Laundry Income: 700.00
  • Net Operating Income: 84300.00
  • Number Of Separate Electric Meters: 10
  • Number Of Separate Gas Meters: 1
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 10
  • Number Of Units Total: 10
  • Operating Expense: 20100.00
  • Rent Control: No
  • Total Actual Rent: 8700.00
  • Total Expenses: 20100.00
  • Vacancy Allowance Rate: 25.00

Tax Info

  • Tax Block: 1
  • Tax Census Tract: 5754.02
  • Tax Lot: 2
  • Tax Tract Number: 4014
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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 Prior Sale
01/31/2018 01/31/18 Sold $1,185,000 -1.3% $191 / Sq Ft
12/26/2017 12/26/17 Price Changed $1,200,000 -4.0% $194 / Sq Ft
12/17/2017 12/17/17 Price Changed $1,249,999 -3.8% $202 / Sq Ft
12/16/2017 12/16/17 For Sale $1,299,999 0.0% $210 / Sq Ft
11/20/2017 11/20/17 Pending -- -- --
10/31/2017 10/31/17 Price Changed $1,299,999 -0.8% $210 / Sq Ft
09/19/2017 09/19/17 Price Changed $1,310,000 -3.7% $211 / Sq Ft
08/30/2017 08/30/17 For Sale $1,359,999 0.0% $219 / Sq Ft
08/28/2017 08/28/17 Pending -- -- --
08/25/2017 08/25/17 For Sale $1,359,999 +38.8% $219 / Sq Ft
07/30/2014 07/30/14 Sold $980,000 -1.5% $158 / Sq Ft View Prior Sale
05/29/2014 05/29/14 Pending -- -- --
02/07/2014 02/07/14 For Sale $995,000 -- $160 / 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 $18,302 $1,348,324 $455,130 $893,194
2024 $18,302 $1,321,887 $446,206 $875,681
2023 $17,979 $1,295,968 $437,457 $858,511
2022 $16,901 $1,270,558 $428,880 $841,678
2021 $16,528 $1,245,646 $420,471 $825,175
2019 $16,291 $1,209,400 $408,000 $801,400
2018 $13,994 $1,035,839 $316,879 $718,960
2016 $12,872 $994,945 $304,575 $690,370
2015 $12,375 $980,000 $300,000 $680,000
2014 $3,696 $201,404 $137,013 $64,391
Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: OC17197232

California Regional Multiple Listing Service (CRMLS)