NOT LISTED FOR SALE

Estimated Value: $1,019,000 - $1,318,486

6 Beds
2 Baths
2,268 Sq Ft
$504/Sq Ft Est. Value

Last Sold April 19, 2021

Last sale price $860,000 $379 Per Sq Ft

Est. 30% increase in value since last sale

Current estimated payment $7,107/month

16 Days on Market

Highlights

  • 0.15 Acre Lot
  • Park
  • 1 Car Garage
  • Long Beach Polytechnic High School Rated A
  • Laundry Room
  • 5-minute walk to Miracle On Fourth Street Park

About This Home

As of April 2021

COMING SOON! 2 Units in North Alamitos Beach. This cute, Craftsman-style duplex is perfect for owner-users or investors. Both units bring in great income: the front unit is a large 4 bed, 1 bath and the rear unit is a cozy 2 bed, 1 bath with a shared yard in between the units. Centrally located in North Alamitos Beach, this property offers owner-users or tenants an awesome lifestyle opportunity to walk to nearby shops, restaurants, and coffee parlors. With a short bike ride to the Beach, Bixby Park, and Downtown, the location is ideal for anyone looking to take advantage of all that Long Beach has to offer. The long driveway and garage offer ample off-street parking, which is a huge bonus in this neighborhood.

Last Agent to Sell the Property

Juan Huizar

Sage Real Estate Group, Inc. License #01417642 Listed on: 03/04/2021

Co-Listed By

Caleb Baldwin

INTI Realty License #02056751

Last Buyer's Agent

Joseph Finkelstein

Buckingham Investments, Inc License #02119882

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $11,802

Year Built

  • Built in 1919

Lot Details

  • 6,714 Sq Ft Lot
  • No Common Walls
  • Density is up to 1 Unit/Acre

Parking

  • 1 Car Garage
  • 3 Open Parking Spaces
  • Parking Available
  • Driveway Level

Home Design

  • 2,268 Sq Ft Home

Bedrooms and Bathrooms

  • 6 Bedrooms
  • 2 Bathrooms

Laundry

  • Laundry Room
  • Laundry in Garage

Additional Features

  • Exterior Lighting
  • Urban Location

Listing and Financial Details

  • Tenant pays for electricity, gas, trash collection
  • Tax Lot 8
  • Tax Tract Number 5765
  • Assessor Parcel Number 7266022025

Community Details

Overview

  • 2 Buildings
  • 2 Units

Recreation

  • Park
  • Bike Trail

Building Details

  • 2 Leased Units
  • Rent Control
  • 2 Separate Electric Meters
  • 2 Separate Gas Meters
  • 1 Separate Water Meter
  • Insurance Expense $1,800
  • Other Expense $319
  • Water Sewer Expense $1,620
  • New Taxes Expense $10,187
  • Operating Expense $13,926
  • Gross Income $55,704
  • Net Operating Income $41,778

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$11,802

Year Built

Built in 1919

Lot Details

0

Parking

1

Listing Details

  • CapRate: 5.13
  • Property Attached: No
  • Road Frontage Type: City Street
  • Road Surface Type: Paved
  • Subdivision Name Other: North Alamitos Beach
  • Water Sewer Expenses: 1620.00
  • Zoning: LBR1N
  • Property Type: Residential Income
  • Parcel Number: 7266022025
  • Year Built: 1919
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Common Walls: No Common Walls
  • Levels: One
  • Price Per Square Foot: 379.19

Exterior Features

  • Pool Private: No

Garage/Parking

  • Garage Spaces: 1.00
  • Parking: Yes
  • Parking Features: Driveway Level, Garage
  • Total Parking Spaces: 4.00
  • Uncovered Spaces: 3.00

Utilities

  • Laundry: Yes
  • Laundry Features: In Garage
  • Sewer: Public Sewer
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No
  • Community Features: Biking, Park, Sidewalks, Storm Drains, Street Lights, Urban

Lot Info

  • Additional Parcels: No
  • Lot Features: 0-1 Unit/Acre
  • Lot Size Sq Ft: 6714.00
  • Lot Size Acres: 0.1541

Rental Info

  • Tenant Pays: Electricity, Gas, Trash Collection

Multi Family

  • Gross Income: 55704.00
  • Gross Scheduled Income: 55704.00
  • Insurance Expense: 1800.00
  • Lot Size Area: 6714.0000 Square Feet
  • Net Operating Income: 41778.00
  • Number Of Separate Electric Meters: 2
  • Number Of Separate Gas Meters: 2
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 2
  • Number Of Units Total: 2
  • Operating Expense: 13926.00
  • Other Expense: 319.00
  • Other Expense Description: Misc.
  • Rent Control: Yes
  • Total Actual Rent: 4642.00
  • Total Expenses: 13926.00

Tax Info

  • New Taxes Expense: 10187.00
  • Tax Census Tract: 5765.03
  • Tax Lot: 8
  • Tax Tract Number: 5765

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Mar 4, 2021
Closed on
Apr 6, 2021
Sold by
Barrett Robert
Bought by
Cruz Luis
Seller's Agent
Juan Huizar
Sage Real Estate Group, Inc.
Buyer's Agent
Joseph Finkelstein
Buckingham Investments, Inc
List Price
$815,000
Sold Price
$860,000
Premium/Discount to List
$45,000
5.52%
Current Estimated Value
$1,118,325

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$258,325
Avg. Annual Appreciation
6.81%
Original Mortgage
$844,423
Outstanding Balance
$765,707
Interest Rate
3%
Mortgage Type
FHA
Estimated Equity
$377,415
Source: Public Records

Range of Values:

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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

Date Buyer Sale Price Title Company
Cruz Luis $860,000 Chicago Title Company
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Cruz Luis $844,423
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
04/19/2021 04/19/21 Sold $860,000 +5.5% $379 / Sq Ft
03/04/2021 03/04/21 For Sale $815,000 -- $359 / 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 $11,802 $930,890 $606,161 $324,729
2024 $11,802 $912,638 $594,276 $318,362
2023 $11,605 $894,744 $582,624 $312,120
2022 $10,893 $877,200 $571,200 $306,000
2021 $1,541 $85,940 $35,893 $50,047
2020 $1,537 $85,059 $35,525 $49,534
2019 $1,521 $83,392 $34,829 $48,563
2018 $1,371 $81,758 $34,147 $47,611
2016 $1,251 $78,585 $32,822 $45,763
2015 $1,210 $77,405 $32,329 $45,076
2014 $1,216 $75,890 $31,696 $44,194
Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PW21042251

California Regional Multiple Listing Service (CRMLS)

APN: 7266-022-025