NOT LISTED FOR SALE

1705 E 10th St Unit 101 Long Beach, CA 90813

Hellman Neighborhood

Estimated Value: $390,000 - $476,000

2 Beds
2 Baths
13,300 Sq Ft
$32/Sq Ft Est. Value

Sale Details

Date Sold: April 20, 2018

Last sale price $4,995,000 $376 Per Sq Ft

Current estimated payment $2,736 / mo

9 Days on Market

Highlights

  • Gated Parking
  • Gated Community
  • Granite Countertops
  • Long Beach Polytechnic High School Rated A
  • 14,200 Sq Ft lot
  • Balcony

About This Home

As of April 2018

VERY RARE OPPORTUNITY! This will not last based on the following reasons:
ALL 2 Bedroom / 2 Bath (Individually Parceled Condos) that are operated as apartments. Excellent Off-Street Parking - 40 Gated & Secured Parking Spaces. Huge Upside in Rents (18.8%+/-), with No Rent Control! Newer Pride of Ownership Property (Built in 1989). Walking Distance to Downtown Long Beach. New Financing Available, or, Assume the Current Loan at 3.68%, Fixed until 10/26/2021!

Last Agent to Sell the Property

Pat Swanson

Pat Swanson License #01382974 Listed on: 01/09/2018

Last Buyer's Agent

Pat Swanson

Pat Swanson License #01382974 Listed on: 01/09/2018

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1989

Lot Details

  • 14,200 Sq Ft Lot
  • Two or More Common Walls
  • Wrought Iron Fence
  • Density is 16-20 Units/Acre

Parking

  • 40 Car Garage
  • Subterranean Parking
  • Parking Available
  • Gated Parking
  • Guest Parking
  • Community Parking Structure

Home Design

  • Apartment
  • Shingle Roof

Interior Spaces

  • 13,300 Sq Ft Home
  • 2-Story Property

Kitchen

  • Six Burner Stove
  • Range Hood
  • Microwave
  • Dishwasher
  • Granite Countertops

Bedrooms and Bathrooms

  • 2 Bedrooms
  • 2 Bathrooms

Home Security

  • Carbon Monoxide Detectors
  • Fire and Smoke Detector

Accessible Home Design

  • Accessible Elevator Installed
  • Accessible Parking

Outdoor Features

  • Balcony

Listing and Financial Details

  • Tax Lot 1
  • Tax Tract Number 65046
  • Assessor Parcel Number 7267012045

Community Details

Building Details

  • 18 Separate Electric Meters
  • 18 Separate Gas Meters
  • 1 Separate Water Meter
  • Electric Expense $2,758
  • Fuel Expense $496
  • Gardener Expense $1,200
  • Insurance Expense $5,400
  • Pest Control $2,165
  • Professional Management Expense $11,457
  • Trash Expense $5,906
  • Water Sewer Expense $8,195
  • New Taxes Expense $56,797
  • Operating Expense $113,437
  • Gross Income $322,156
  • Net Operating Income $208,719

Security

  • Resident Manager or Management On Site
  • Gated Community

Additional Features

  • 18 Units
  • Laundry Facilities

Property Details

Home Type

Multi-Family

Year Built

Built in 1989

Lot Details

0.33 Acres

Parking

40

Listing Details

  • CapRate: 4.18
  • Professional Management Expense: 11457.00
  • Property Attached: Yes
  • Road Frontage Type: City Street
  • Road Surface Type: Paved
  • Security: Carbon Monoxide Detector(s), Gated Community, Resident Manager, Smoke Detector(s)
  • Water Sewer Expenses: 8195.00
  • Zoning: LBR2N
  • Property Sub Type: Apartment
  • Property Type: Residential Income
  • Gardener Expense: 1200.00
  • Parcel Number: 7267012045
  • Year Built: 1989
  • Special Features: None

Interior Features

  • Interior Amenities: Balcony, Granite Counters
  • Stories: 2
  • Common Walls: 2+ Common Walls
  • Accessibility Features: Accessible Elevator Installed, Parking
  • Appliances: Yes
  • Levels: Two
  • Price Per Square Foot: 375.56
  • Room Type: Kitchen

Exterior Features

  • Fence: Yes
  • Fencing: Wrought Iron
  • Pool Private: No
  • Roof: Shingle

Garage/Parking

  • Garage Spaces: 40.00
  • Parking: Yes
  • Parking Features: Community Structure, Covered, Gated, Guest, Subterranean
  • Total Parking Spaces: 40.00

Utilities

  • Laundry: Yes
  • Appliances: 6 Burner Stove, Dishwasher, Microwave, Range Hood
  • Laundry Features: Community
  • Pest Control Expense: 2165.00
  • Sewer: Public Sewer
  • Trash Expense: 5906.00
  • Water Source: Public

Condo/Co-op/Association

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

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: 16-20 Units/Acre
  • Lot Size Sq Ft: 14200.00

Multi Family

  • Average2 Bed Area: 750 Square Feet
  • Electric Expense: 2758.00
  • Fuel Expense: 496.00
  • Gross Income: 322156.00
  • Gross Multiplier: 15.05
  • Gross Operating Income: 317656.00
  • Gross Scheduled Income: 327480.00
  • Insurance Expense: 5400.00
  • Laundry Income: 2100.00
  • Net Operating Income: 208719.00
  • Number Of Separate Electric Meters: 18
  • Number Of Separate Gas Meters: 18
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 18
  • Number With Dishwasher: 18
  • Number With Range: 18
  • Operating Expense: 113437.00
  • Other Income1: 2400.00
  • Rent Control: No
  • Total Actual Rent: 27290.00
  • Total Expenses: 113437.00

Tax Info

  • New Taxes Expense: 56797.00
  • Tax Census Tract: 5764.03
  • Tax Lot: 1
  • Tax Tract Number: 65046

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

Closed on
Sep 22, 2022
Sold by
Bought by
Current Estimated Value
$428,454

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$2,250,000
Interest Rate
0.0513%
Mortgage Type
New Conventional

Purchase Details

Listed on
Jan 9, 2018
Closed on
Apr 17, 2018
Sold by
Bought by
Seller's Agent
Pat Swanson
Pat Swanson
Buyer's Agent
Pat Swanson
Pat Swanson
List Price
$4,995,000
Sold Price
$4,995,000

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
-25.67%

Purchase Details

Closed on
Jul 1, 2016
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
$2,500,000
Interest Rate
0.0342%
Mortgage Type
Negative Amortization

Purchase Details

Closed on
Jun 16, 2015
Sold by
Bought by

Purchase Details

Closed on
Jun 26, 2012
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
$1,455,000
Interest Rate
0.0356%
Mortgage Type
Future Advance Clause Open End Mortgage

Purchase Details

Closed on
Oct 26, 2010
Sold by
Bought by

Purchase Details

Closed on
Aug 20, 2010
Sold by
Bought by

Purchase Details

Closed on
Jan 1, 2002
Sold by
Bought by

Purchase Details

Closed on
Sep 12, 2001
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
$744,250
Interest Rate
0.0657%

Purchase Details

Closed on
Aug 14, 1997
Sold by
Bought by

Purchase Details

Closed on
Jul 24, 1997
Sold by
Bought by

Purchase Details

Closed on
May 10, 1995
Sold by
Bought by

Purchase Details

Closed on
Nov 21, 1994
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
$6,212,000 Commonwealth Land Title
$130,000 Commonwealth Land Title Comp
$4,125,000 Commonwealth Title
-- None Available
$2,870,000 Pacific Coast Title
$2,065,000 Lawyers Title Insurance Corp
$2,260,000 None Available
-- --
-- North American Title Co
$600,000 --
$600,000 --
-- First American Title Ins Co
$1,250,000 First American Title Ins Co
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 $2,250,000
Previous Owner $2,500,000
Previous Owner $1,455,000
Previous Owner $1,020,000
Previous Owner $744,250
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
04/20/2018 04/20/18 Sold $4,995,000 0.0% $376 / Sq Ft
01/09/2018 01/09/18 For Sale $4,995,000 -- $376 / 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 $4,809 $359,053 $208,080 $150,973
2024 $4,602 $352,013 $204,000 $148,013
2023 $3,841 $290,282 $164,045 $126,237
2022 $3,606 $284,591 $160,829 $123,762
2021 $3,533 $279,012 $157,676 $121,336
2019 $3,482 $270,738 $153,000 $117,738
2018 $3,011 $233,580 $102,000 $131,580
2016 $2,111 $167,266 $72,814 $94,452
2015 $2,028 $164,755 $71,721 $93,034
2014 $2,019 $161,529 $70,317 $91,212
Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: OC18005928

California Regional Multiple Listing Service (CRMLS)

APN: 7267-012-045

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