Seller's Agent in 2023
Chris Crosby
Buckingham Investments, Inc
(310) 982-7055
1 in this area
28 Total Sales
1638 Gaviota Ave Long Beach, CA 90813
Central NeighborhoodEstimated Value: $615,000 - $870,000
2
Beds
2
Baths
1,025
Sq Ft
$737/Sq Ft
Est. Value
Highlights
- Corner Lot
- No HOA
- Laundry Room
- Long Beach Polytechnic High School Rated A
- Cooling System Powered By Gas
- Tile Flooring
About This Home
As of July 2023Fantastic investment opportunity! Back on the market at a HUGE PRICE REDUCTION! This value-add duplex is comprised of a back studio unit that will be delivered vacant at close of escrow and ready for renovations! The front 2-bedroom 1bath house has a large front and side yard. The tenant pays $2,300/month and has been living there for over four years and has a strong history of paying rent on time. Both units have separate gas and electric meters.
There is a free standing, double car garage, perfect for an ADU conversion into 3 units (buyer to verify) with an after repair value (ARV) of $960,000.
Located near Signal Hill and MacArthur Park, this neighborhood is truly in the path of progress and benefits from nearby development. If you're an investor looking for a value-add opportunity or an owner-occupant looking to get started in investment real estate, look no further!
Last Agent to Sell the Property
Buckingham Investments, Inc License #02116879 Listed on: 05/22/2023
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1921
Lot Details
- 4,026 Sq Ft Lot
- No Common Walls
- Wrought Iron Fence
- Fence is in fair condition
- Corner Lot
Parking
- 2 Car Garage
- Parking Available
Home Design
- Duplex
- Entry on the 1st floor
Interior Spaces
- 1,025 Sq Ft Home
- 1-Story Property
- Family Room
- Gas Range
Flooring
- Laminate
- Tile
Bedrooms and Bathrooms
- 2 Bedrooms
- 2 Bathrooms
Laundry
- Laundry Room
- Laundry in Garage
Outdoor Features
- Exterior Lighting
Utilities
- Cooling System Powered By Gas
- Heating System Uses Natural Gas
- Phone Available
- Cable TV Available
Listing and Financial Details
- Tenant pays for cable TV, electricity, gas
- Tax Lot 1
- Tax Tract Number 3661
- Assessor Parcel Number 7261011002
- $390 per year additional tax assessments
Community Details
Overview
- No Home Owners Association
- 2 Buildings
- 2 Units
Building Details
- Rent Control
- 2 Separate Electric Meters
- 2 Separate Gas Meters
- 1 Separate Water Meter
- Gardener Expense $600
- Insurance Expense $1,000
- Maintenance Expense $2,138
- Pest Control $500
- Trash Expense $1,440
- Water Sewer Expense $1,440
- New Taxes Expense $9,375
- Operating Expense $17,000
- Gross Income $45,000
- Net Operating Income $28,000
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
May 22, 2023
Closed on
Jul 10, 2023
Sold by
Gombio Napoleon M and Gombio Kellie R
Bought by
Igboke Bryan and Igboke Henry
Seller's Agent
Chris Crosby
Buckingham Investments, Inc
Buyer's Agent
Kristine Kurz
Real Estate Ebroker Inc
List Price
$750,000
Sold Price
$715,000
Premium/Discount to List
-$35,000
-4.67%
Views
239
Current Estimated Value
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$50,931
Avg. Annual Appreciation
2.31%
Original Mortgage
$702,049
Outstanding Balance
$682,857
Interest Rate
6.69%
Mortgage Type
FHA
Estimated Equity
$72,446
Purchase Details
Listed on
Dec 22, 2018
Closed on
Jan 2, 2019
Sold by
Paredes Antonio and Paredes Carmi E
Bought by
Gombio Napoleon M and Gombio Kellie R
Seller's Agent
Frank Marshall
Franklin Marshall, Broker
Buyer's Agent
John Alden
Alden Pacific Investments, Inc.
List Price
$535,000
Sold Price
$535,000
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
6.72%
Original Mortgage
$525,309
Interest Rate
4.4%
Mortgage Type
FHA
Purchase Details
Closed on
Jun 4, 2018
Sold by
Paredes Antonio
Bought by
Paredes Antonio and Paredes Carmi E
Purchase Details
Closed on
Jul 21, 1993
Sold by
Glendale Federal Bank
Bought by
Paredes Antonio
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$75,000
Interest Rate
7.16%
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area
Home Values in the Area
Average Home Value in this Area
Purchase History
| Date | Buyer | Sale Price | Title Company |
|---|---|---|---|
| Igboke Bryan | $715,000 | First Integrity Title | |
| Gombio Napoleon M | $535,000 | Ticor Title | |
| Paredes Antonio | -- | None Available | |
| Paredes Antonio | $100,000 | Fidelity National Title |
Source: Public Records
Mortgage History
| Date | Status | Borrower | Loan Amount |
|---|---|---|---|
| Open | Igboke Bryan | $702,049 | |
| Previous Owner | Gombio Napoleon M | $525,309 | |
| Previous Owner | Paredes Antonio | $75,000 |
Source: Public Records
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft | Prior Sale |
|---|---|---|---|---|---|
| 07/31/2023 07/31/23 | Sold | $715,000 | +2.1% | $698 / Sq Ft | |
| 05/30/2023 05/30/23 | Price Changed | $699,999 | -6.7% | $683 / Sq Ft | |
| 05/22/2023 05/22/23 | For Sale | $750,000 | +40.2% | $732 / Sq Ft | |
| 02/15/2019 02/15/19 | Sold | $535,000 | 0.0% | $522 / Sq Ft | View Prior Sale |
| 12/22/2018 12/22/18 | Pending | -- | -- | -- | |
| 12/22/2018 12/22/18 | For Sale | $535,000 | -- | $522 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
Tax History Compared to Growth
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 | $9,280 | $729,300 | $510,000 | $219,300 |
| 2024 | $9,280 | $715,000 | $500,000 | $215,000 |
| 2023 | $7,539 | $573,626 | $455,685 | $117,941 |
| 2022 | $7,077 | $562,379 | $446,750 | $115,629 |
| 2021 | $6,938 | $551,353 | $437,991 | $113,362 |
| 2020 | $6,921 | $545,700 | $433,500 | $112,200 |
| 2019 | $2,210 | $152,343 | $99,029 | $53,314 |
| 2018 | $2,103 | $149,357 | $97,088 | $52,269 |
| 2016 | $1,937 | $143,560 | $93,319 | $50,241 |
| 2015 | $1,864 | $141,405 | $91,918 | $49,487 |
| 2014 | $1,863 | $138,636 | $90,118 | $48,518 |
Source: Public Records
Agents Affiliated with this Home
-
Chris Crosby
-
Kristine Kurz
K
Buyer's Agent in 2023
Kristine Kurz
Real Estate Ebroker Inc
(760) 458-3514
1 in this area
24 Total Sales
-
Frank Marshall
Seller's Agent in 2019
Frank Marshall
Franklin Marshall, Broker
(562) 884-7151
25 Total Sales
-
J
Buyer's Agent in 2019
John Alden
Alden Pacific Investments, Inc.
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: SB23087761
APN: 7261-011-002
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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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