Dennis Fulmore
Dennis Wayne Group
(424) 688-7260
19 Total Sales
1 in Washington School
$610,000 Price
1641 Locust Ave Long Beach, CA 90813
Washington School Neighborhood
3
Beds
10
Baths
7,020
Sq Ft
7,405
Sq Ft Lot
About This Home
As of June 2025NEW PRICE! Excellent Assumable Financing Available! 3.63% Interest Rate - Fixed for 7.5 Years! We are pleased to exclusively offer for sale this 14 unit multi-family investment in the city of Long Beach. The subject property consists of 3 separate structures of which, all units are separately metered for electricity and gas. Additionally there is a RUBS system currently in place in which the tenants are charged back for all usage of water and trash. This leads to almost no utility cost for the investor. Tenants enjoy gated private entry as well as 5 enclosed garage spaces that are rented out for additional income. A majority of the electrical and plumbing has been updated within the past 7 years as tenants vacate and the units are rehabbed. The roof was replaced within the last 7 years as well. There are currently 3 vacancies that are rent ready and will be held vacant at COE for a new buyer to choose their own tenants and attain market rent immediately. This is a true value-add opportunity as there is approximately 35-40% upside in rental income. Utilizing the assumable financing that is in place, a new investor can look to enjoy a 6.7% CASH-ON-CASH return on Day 1 with the current rental rates that are in place, with an even more significant cash return available upon stabilizing the asset with market rental rates.
Last Agent to Sell the Property
RE/MAX 2000 REALTY Brokerage Phone: 909-645-0443 License #01800021 Listed on: 04/24/2023
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Property Details
Home Type
- Multi-Family
Year Built
- Built in 1927
Lot Details
- 7,405 Sq Ft Lot
- Two or More Common Walls
- Density is 11-15 Units/Acre
Parking
- 5 Car Garage
Home Design
- Apartment
- Entry on the 1st floor
Interior Spaces
- 7,020 Sq Ft Home
- 2-Story Property
Bedrooms and Bathrooms
- 3 Bedrooms
- 10 Bathrooms
Outdoor Features
- Rain Gutters
Listing and Financial Details
- Tenant pays for electricity, gas
- Legal Lot and Block 8 / 1
- Tax Tract Number 20
- Assessor Parcel Number 7269011020
- $2,249 per year additional tax assessments
Community Details
Overview
- 3 Buildings
- 14 Units
Building Details
- Rent Control
- 14 Separate Electric Meters
- 14 Separate Gas Meters
- 1 Separate Water Meter
- Electric Expense $711
- Fuel Expense $2,341
- Insurance Expense $2,808
- Maintenance Expense $13,586
- Other Expense $2,100
- Pest Control $800
- Trash Expense $750
- Water Sewer Expense $2,750
- New Taxes Expense $27,480
- Operating Expense $53,326
- Gross Income $209,019
- Net Operating Income $149,422
Home Values in the Area
Average Home Value in this Area
Agents Specializing in Washington School, CA
-
Dennis Fulmore
-
Tyler Rogina
Tyler Rogina
Compass
(424) 417-6460
119 Total Sales
1 in Washington School
$505,000 Price
-
Teriann McKenna
Teriann McKenna
TM Real Estate Services
(424) 396-2889
10 Total Sales
1 in Washington School
$253,000 Price
-
Rudy Kusuma
Rudy Kusuma
LPT Realty, Inc
(916) 249-4078
144 Total Sales
1 in Washington School
$663,000 Price
-
Poupee Komenkul
Poupee Komenkul
Rodeo Realty
(747) 998-0899
146 Total Sales
2 in Washington School
$275K - $283K Price Range
-
Melissa Barlow
Melissa Barlow
Responds QuicklyElite Representation Real Estate
(424) 704-9071
44 Total Sales
1 in Washington School
$1,150,000 Price
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 |
|---|---|---|---|
| $926,500 | Fidelity National Title | ||
| Locust Community Llc | -- | Orange Coast Title | |
| Nassillon Development Inc | -- | Chicago Title Company | |
| Molina Holdings Llc | -- | None Available | |
| Nassillon Development Inc | $1,169,000 | Lawyers Title | |
| Whelan Daniel J | -- | Lawyers Title Company | |
| Geiger Properties Vi Llc | -- | -- | |
| Geiger Tom | $170,000 | Equity Title Company | |
| Topa Svgs Bank | $336,673 | World Title | |
| The Locust Partners | -- | Orange Coast Title | |
| The Locust Partners | -- | -- |
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 |
|---|---|---|---|
| Previous Owner | $1,350,000 | ||
| Previous Owner | Locust Community Llc | $1,350,000 | |
| Previous Owner | Nassillon Development Inc | $1,050,000 | |
| Previous Owner | Nassillon Development Inc | $761,250 | |
| Previous Owner | Nassillon Development Inc | $817,600 | |
| Previous Owner | Geiger Properties Vi Llc | $139,000 |
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 |
|---|---|---|---|---|
| 06/06/2025 06/06/25 | Sold | $2,245,000 | -8.4% | $320 / Sq Ft |
| 08/25/2023 08/25/23 | Pending | -- | -- | -- |
| 07/17/2023 07/17/23 | For Sale | $2,450,000 | 0.0% | $349 / Sq Ft |
| 06/28/2023 06/28/23 | Pending | -- | -- | -- |
| 05/30/2023 05/30/23 | Price Changed | $2,450,000 | 0.0% | $349 / Sq Ft |
| 05/30/2023 05/30/23 | For Sale | $2,450,000 | +9.1% | $349 / Sq Ft |
| 05/25/2023 05/25/23 | Off Market | $2,245,000 | -- | -- |
| 05/24/2023 05/24/23 | For Sale | $2,600,000 | +15.8% | $370 / Sq Ft |
| 05/15/2023 05/15/23 | Off Market | $2,245,000 | -- | -- |
| 05/12/2023 05/12/23 | For Sale | $2,600,000 | +15.8% | $370 / Sq Ft |
| 05/11/2023 05/11/23 | Off Market | $2,245,000 | -- | -- |
| 04/24/2023 04/24/23 | For Sale | $2,600,000 | -- | $370 / 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 |
|---|---|---|---|---|
| 2026 | $35,568 | $2,289,900 | $918,000 | $1,371,900 |
| 2025 | $35,568 | $2,597,836 | $1,082,432 | $1,515,404 |
| 2024 | $34,029 | $2,546,899 | $1,061,208 | $1,485,691 |
| 2023 | $33,436 | $2,496,960 | $1,040,400 | $1,456,560 |
| 2022 | $31,391 | $2,448,000 | $1,020,000 | $1,428,000 |
| 2021 | $17,067 | $1,252,140 | $596,257 | $655,883 |
| 2020 | $17,023 | $1,242,102 | $590,144 | $651,958 |
| 2019 | $16,822 | $1,217,803 | $578,573 | $639,230 |
| 2018 | $16,371 | $1,193,980 | $567,229 | $626,751 |
| 2016 | $15,072 | $1,144,926 | $545,203 | $599,723 |
| 2015 | $14,494 | $1,127,729 | $537,014 | $590,715 |
| 2014 | $12,801 | $960,000 | $457,200 | $502,800 |
Source: Public Records
Agents Affiliated with this Home
-
Kristopher German
Seller's Agent in 2025
Kristopher German
RE/MAX
(909) 645-0443
1 in this area
130 Total Sales
-
Andrew McAllister
AM
Buyer's Agent in 2025
Andrew McAllister
eXp Realty of Greater L.A
(562) 423-8134
1 in this area
15 Total Sales
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: CV23068594
Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.
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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