NOT LISTED FOR SALE

Estimated Value: $846,195 - $1,237,000

2 Beds
3 Baths
1,620 Sq Ft
$646/Sq Ft Est. Value

Last Sold December 13, 2017

Last sale price $625,000 $386 Per Sq Ft

Est. 67% increase in value since last sale

Current estimated payment $6,249/month

8 Days on Market

Highlights

  • Ocean Side of Highway 1
  • 0.08 Acre Lot
  • Lawn
  • Long Beach Polytechnic High School Rated A
  • Property is near public transit
  • Balcony

About This Home

As of December 2017

Solid Property with great upside potential in rents. No rent control. Grounds are low maintenance with mature landscaping, operating sprinklers on timer, on-site laundry room set up and ready to generate additional income, central boiler serves all 3 units, 3 separate electrical meters and 3 gas meters, long driveway and one car garage. Landlord is conscientious and maintains gardener and regular pest control services. Front is a two-story duplex plus a single story unit in rear. Zoned LBR1N and located in a strong rental area near public transportation, easy freeway access, great 91 walkability score and 79 bikeability score, walk to beach, parks, the 4th st retro-row shops and hang-outs, and 6 minutes to downtown amenities (aquarium, museums, coffee shops, restaurants, shoreline drive).

Last Agent to Sell the Property

Sergio Macias

Seven Gables Real Estate License #01247110 Listed on: 10/30/2017

Last Buyer's Agent

Marlena Baldonado

Coldwell Banker Realty License #01937854

Coldwell Banker Realty

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1923

Lot Details

  • 3,630 Sq Ft Lot
  • Lot Dimensions are 36x101
  • No Common Walls
  • South Facing Home
  • Landscaped
  • Rectangular Lot
  • Level Lot
  • Sprinklers on Timer
  • Lawn
  • Back and Front Yard
  • Density is up to 1 Unit/Acre

Parking

  • 1 Car Garage
  • Parking Available
  • Front Facing Garage
  • Single Garage Door
  • Driveway Level
  • Assigned Parking

Home Design

  • 1,620 Sq Ft Home
  • Triplex
  • Shingle Roof
  • Composition Roof
  • Partial Copper Plumbing
  • Stucco

Flooring

  • Carpet
  • Tile
  • Vinyl

Bedrooms and Bathrooms

  • 2 Bedrooms
  • 3 Bathrooms

Laundry

  • Laundry Room
  • Washer and Gas Dryer Hookup

Home Security

  • Carbon Monoxide Detectors
  • Fire and Smoke Detector

Accessible Home Design

  • Doors swing in
  • No Interior Steps
  • Accessible Parking

Outdoor Features

  • Ocean Side of Highway 1
  • Balcony

Location

  • Property is near public transit
  • Suburban Location

Utilities

  • Floor Furnace
  • Heating System Uses Natural Gas
  • Wall Furnace
  • Gravity Heating System
  • Overhead Utilities
  • Natural Gas Connected
  • Central Water Heater

Listing and Financial Details

  • Tax Lot 3
  • Tax Tract Number 5765
  • Assessor Parcel Number 7266022004

Community Details

Overview

  • 2 Buildings
  • 3 Units

Amenities

  • Laundry Facilities

Building Details

  • 3 Leased Units
  • 3 Separate Electric Meters
  • 3 Separate Gas Meters
  • 1 Separate Water Meter
  • Gardener Expense $360
  • Insurance Expense $1,000
  • Pest Control $500
  • Trash Expense $500
  • Water Sewer Expense $950
  • New Taxes Expense $7,812
  • Operating Expense $11,122
  • Gross Income $3,050
  • Net Operating Income $34,200

Property Details

Home Type

Multi-Family

Year Built

Built in 1923

Lot Details

0

Parking

1

Listing Details

  • CapRate: 5.50
  • Property Attached: No
  • Road Frontage Type: City Street
  • Road Surface Type: Paved
  • Security: Carbon Monoxide Detector(s), Smoke Detector(s)
  • Subdivision Name Other: Alamitos Beach (AB)
  • Water Sewer Expenses: 950.00
  • Zoning: LBR1N
  • Property Sub Type: Triplex
  • Property Type: Residential Income
  • Gardener Expense: 360.00
  • Parcel Number: 7266022004
  • Year Built: 1923
  • Special Features: None

Interior Features

  • Fireplace: No
  • Interior Amenities: Balcony, Copper Plumbing Partial
  • Common Walls: No Common Walls
  • Flooring: Carpet, Tile, Vinyl
  • Accessibility Features: Doors - Swing In, No Interior Steps, Parking
  • Appliances: Yes
  • Price Per Square Foot: 385.80

Exterior Features

  • Direction Faces: South
  • Pool Private: No
  • Roof: Composition, Shingle
  • Construction Materials: Stucco

Garage/Parking

  • Garage Spaces: 1.00
  • Parking: Yes
  • Parking Features: Assigned, Driveway, Concrete, Driveway Level, Garage, Garage Faces Front, Garage - Single Door
  • Total Parking Spaces: 1.00

Utilities

  • Utilities: Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
  • Sprinklers: Yes
  • Heating: Yes
  • Laundry: Yes
  • Appliances: Water Heater Central
  • Heating Type: Floor Furnace, Wall Furnace, Gravity, Natural Gas
  • Laundry Features: Community, Gas Dryer Hookup, Individual Room, Washer Hookup
  • Pest Control Expense: 500.00
  • Sewer: Public Sewer
  • Trash Expense: 500.00
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No
  • Community Features: Suburban

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: 0-1 Unit/Acre, Back Yard, Front Yard, Landscaped, Lawn, Level with Street, Rectangular Lot, Level, Near Public Transit, Sprinklers Timer, Utilities - Overhead
  • Lot Size: 36x101
  • Lot Size Sq Ft: 3630.00
  • Lot Size Acres: 0.0833

Multi Family

  • Average1 Bed Area: 630 Square Feet
  • Average Studio Area: 360 Square Feet
  • Gross Income: 3050.00
  • Gross Scheduled Income: 36600.00
  • Insurance Expense: 1000.00
  • Lot Size Area: 3630.0000 Square Feet
  • Net Operating Income: 34200.00
  • Number Of Rented Garages: 1
  • Number Of Separate Electric Meters: 3
  • Number Of Separate Gas Meters: 3
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 3
  • Number Of Units Total: 3
  • Operating Expense: 2400.00
  • Rent Control: No
  • Total Expenses: 11122.00
  • Waterfront Features: Ocean Side Of Highway 1

Tax Info

  • New Taxes Expense: 7812.00
  • Tax Census Tract: 5765.03
  • Tax Lot: 3
  • Tax Tract Number: 5765

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Oct 30, 2017
Closed on
Nov 10, 2017
Sold by
Dodge Karen L and Hernandez Cenobio
Bought by
Gaither Chad T and Perez Bianca G
Seller's Agent
Sergio Macias
Seven Gables Real Estate
Buyer's Agent
Marlena Baldonado
Coldwell Banker Realty
List Price
$625,000
Sold Price
$625,000
Current Estimated Value
$1,046,299

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$421,299
Avg. Annual Appreciation
6.62%
Original Mortgage
$593,750
Outstanding Balance
$498,713
Interest Rate
3.94%
Mortgage Type
New Conventional
Estimated Equity
$547,586

Purchase Details

Closed on
Dec 16, 2005
Sold by
Dodge Karen L and Karen L Dodge 2002 Trust
Bought by
Hernandez Cenobio and Dodge Karen L

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$434,000
Interest Rate
7.5%
Mortgage Type
New Conventional

Purchase Details

Closed on
Dec 3, 2004
Sold by
Dodge Karen L
Bought by
Dodge Karen L and The Karen L Dodge 2002 Trust

Purchase Details

Closed on
Sep 27, 2004
Sold by
Jacinto Cenobio Hernandez
Bought by
Dodge Karen L

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$348,000
Interest Rate
7.5%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
Aug 13, 2004
Sold by
Djahangiri Nader A and Vu Vy Hoang
Bought by
Dodge Karen L

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$348,000
Interest Rate
7.5%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
Dec 27, 1999
Sold by
Georgia Chekouras Family Trust and Jerry
Bought by
Djahangiri Nader A and Vu Vy Hoang

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$125,800
Interest Rate
10.37%
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

Date Buyer Sale Price Title Company
Gaither Chad T $625,000 Fidelity National Title Co
Hernandez Cenobio -- Lawyers Title Co
Dodge Karen L -- --
Dodge Karen L -- Orange Coast Title
Dodge Karen L $437,000 Orange Coast Title
Djahangiri Nader A $132,500 Chicago Title Co
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Gaither Chad T $593,750
Previous Owner Hernandez Cenobio $434,000
Previous Owner Dodge Karen L $348,000
Previous Owner Djahangiri Nader A $125,800
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
12/13/2017 12/13/17 Sold $625,000 0.0% $386 / Sq Ft
11/07/2017 11/07/17 Pending -- -- --
10/30/2017 10/30/17 For Sale $625,000 -- $386 / 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 $9,200 $711,140 $500,643 $210,497
2024 $9,200 $697,197 $490,827 $206,370
2023 $9,042 $683,527 $481,203 $202,324
2022 $8,488 $670,125 $471,768 $198,357
2021 $8,316 $656,986 $462,518 $194,468
2020 $8,294 $650,250 $457,776 $192,474
2019 $8,197 $637,500 $448,800 $188,700
2018 $7,992 $625,000 $440,000 $185,000
2017 $6,837 $524,848 $265,426 $259,422
2016 $6,362 $514,558 $260,222 $254,336
2015 $6,109 $506,830 $256,314 $250,516
2014 $6,074 $496,903 $251,294 $245,609
Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: OC17246637

California Regional Multiple Listing Service (CRMLS)

APN: 7266-022-004