NOT LISTED FOR SALE

1741 Cherry Ave Long Beach, CA 90813

Central Neighborhood

Estimated Value: $973,716

1 Bed
2 Baths
2,459 Sq Ft
$396/Sq Ft Est. Value

Last Sold June 26, 2019

Last sale price $660,000 $268 Per Sq Ft

Est. 48% increase in value since last sale

Current estimated payment $5,883/month

67 Days on Market

Highlights

  • No HOA
  • Laundry Room
  • Rectangular Lot
  • Long Beach Polytechnic High School Rated A
  • Central Air

About This Home

As of June 2019

BACK ON THE MARKET! PRIME LIVE/WORK SPACE IN GREAT LOCATION! The front commercial space is noted to be in city marijuana dispensary or testing zone and features amazing store front with large prominent windows, 12' ceilings, warehouse/workshop area, large roll-up door, 2 office areas, half bath, and 220 electrical. The DETACHED rear living space features 1 large bedroom and 1 bath, large loft area, kitchen, and dining space. Rear unit has been recently updated including new bath, newer kitchen, inside laundry, new paint, and has a private fenced yard. The property has a long driveway with an automatic entry gate and 3 storage spaces.

Last Agent to Sell the Property

Tina Burke

eXp Realty of California Inc License #01838777 Listed on: 04/05/2019

eXp Realty of California Inc

Last Buyer's Agent

Juli Auckerman

Pacific Sotheby's Int'l Realty License #01944568

Pacific Sotheby's Int'l Realty

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1946

Lot Details

  • 6,511 Sq Ft Lot
  • No Common Walls
  • Rectangular Lot
  • Level Lot

Home Design

  • 2,459 Sq Ft Home

Bedrooms and Bathrooms

  • 1 Bedroom
  • 2 Bathrooms

Parking

  • 3 Parking Spaces
  • 3 Carport Spaces

Additional Features

  • Laundry Room
  • Exterior Lighting
  • Central Air

Listing and Financial Details

  • Tax Lot 33
  • Assessor Parcel Number 7261004014

Community Details

Overview

  • No Home Owners Association
  • 2 Buildings
  • 2 Units

Building Details

  • 2 Separate Electric Meters
  • 1 Separate Gas Meter
  • 1 Separate Water Meter
  • Electric Expense $600
  • Insurance Expense $1,800
  • Trash Expense $750
  • Water Sewer Expense $750
  • New Taxes Expense $6,500
  • Operating Expense $10,000
  • Gross Income $60,000
  • Net Operating Income $49,600

Property Details

Home Type

Multi-Family

Year Built

Built in 1946

Lot Details

0

Listing Details

  • Property Attached: No
  • Subdivision Name Other: UNK
  • Water Sewer Expenses: 750.00
  • Property Type: Residential Income
  • Parcel Number: 7261004014
  • Year Built: 1946
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Common Walls: No Common Walls
  • Price Per Square Foot: 268.40

Exterior Features

  • Pool Private: No

Garage/Parking

  • Carport Spaces: 3.00
  • Total Parking Spaces: 3.00

Utilities

  • Laundry: Yes
  • Laundry Features: Inside
  • Sewer: Public Sewer
  • Trash Expense: 750.00
  • Water Source: Public
  • Cooling: Central Air
  • Cooling: Yes

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Community Features: Street Lights

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: Lot 6500-9999, Rectangular Lot, Level
  • Lot Size Sq Ft: 6511.00
  • Lot Size Acres: 0.1495

Multi Family

  • Electric Expense: 600.00
  • Gross Income: 60000.00
  • Gross Scheduled Income: 60000.00
  • Insurance Expense: 1800.00
  • Lot Size Area: 6511.0000 Square Feet
  • Net Operating Income: 49600.00
  • Number Of Separate Electric Meters: 2
  • Number Of Separate Gas Meters: 1
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 2
  • Operating Expense: 10400.00
  • Rent Control: No
  • Total Expenses: 10000.00

Tax Info

  • New Taxes Expense: 6500.00
  • Tax Lot: 33

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Apr 5, 2019
Closed on
Jun 5, 2019
Sold by
James Jereme Lee
Bought by
Rahban Michael and Kroep Kora
Seller's Agent
Tina Burke
eXp Realty of California Inc
Buyer's Agent
Juli Auckerman
Pacific Sotheby's Int'l Realty
List Price
$599,000
Sold Price
$660,000
Premium/Discount to List
$61,000
10.18%
Current Estimated Value
$973,716

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$313,716
Avg. Annual Appreciation
6.14%

Purchase Details

Listed on
Apr 5, 2019
Closed on
Jun 4, 2019
Sold by
James Jereme Lee and James Claudia Guzman
Bought by
James Jereme Lee
Seller's Agent
Tina Burke
eXp Realty of California Inc
Buyer's Agent
Juli Auckerman
Pacific Sotheby's Int'l Realty
List Price
$599,000
Sold Price
$660,000
Premium/Discount to List
$61,000
10.18%

Purchase Details

Closed on
May 13, 2016
Sold by
Chhean Ratha and Chhean Saroeun T
Bought by
James Jereme Lee and James Claudia Guzman

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$200,000
Interest Rate
3.61%
Mortgage Type
Commercial

Purchase Details

Closed on
Jan 10, 2007
Sold by
Chhean Ratha and Chhean Saroeun
Bought by
Chhean Ratha and Chhean Saroeun T

Purchase Details

Closed on
May 9, 2003
Sold by
Kurkjian Harold J and Kurkjian Betty Ann
Bought by
Chhean Ratha and Chhean Saroeun

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$90,000
Interest Rate
5.61%
Mortgage Type
Seller Take Back
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
Rahban Michael $660,000 Orange Coast Title Company
James Jereme Lee -- Orange Coast Title
James Jereme Lee $250,000 Pacific Coast Title
Chhean Ratha -- None Available
Chhean Ratha $110,000 Commonwealth Land Title Co
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner James Jereme Lee $200,000
Previous Owner Chhean Ratha $90,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
06/26/2019 06/26/19 Sold $660,000 +10.2% $268 / Sq Ft
06/11/2019 06/11/19 Pending -- -- --
04/05/2019 04/05/19 For Sale $599,000 -- $244 / 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 $9,557 $736,238 $501,981 $234,257
2024 $9,557 $721,803 $492,139 $229,664
2023 $9,402 $707,651 $482,490 $225,161
2022 $8,835 $693,777 $473,030 $220,747
2021 $8,659 $680,174 $463,755 $216,419
2019 $3,762 $265,301 $212,241 $53,060
2018 $3,532 $260,100 $208,080 $52,020
2016 $1,905 $134,566 $116,221 $18,345
2015 $1,837 $132,546 $114,476 $18,070
2014 $1,832 $129,951 $112,234 $17,717
Source: Public Records

Agents Affiliated with this Home

  • Tina Burke

    Seller's Agent in 2019

    Tina Burke

    eXp Realty of California Inc

    (562) 355-2430

    67 Total Sales

    Tina Burke
    Section Image
  • Juli Auckerman

    Buyer's Agent in 2019

    Juli Auckerman

    Pacific Sotheby's Int'l Realty

    (949) 636-4789

    18 Total Sales

    Juli Auckerman
    Section Image
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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PW19119024

California Regional Multiple Listing Service (CRMLS)

APN: 7261-004-014

California Los Angeles County Long Beach 90804 Central

1741 Cherry Ave, Long Beach, CA

Not Listed for Sale

MultiFamily

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