NOT LISTED FOR SALE
16 Beds
11 Baths
8,532 Sq Ft
7,567 Sq Ft Lot

Last Sold December 13, 2022

Last sale price $2,975,000 $349 Per Sq Ft

20 Days on Market

Highlights

  • Laundry Room
  • Long Beach Polytechnic High School Rated A
  • 5-minute walk to Pacific Coast Highway Station

About This Home

As of December 2022

1754 Pine Ave is a unique 11 unit opportunity located in Long Beach, CA. The subject property boasts a fantastic unit mix consisting of five (5) 1-bedroom/1-bathroom, four (4) 2-bedroom/1-bathroom, one (1) 2-bedroom/2-bathroom, and one (1) 3-bedroom/2-bathroom units. There is potential for one (1) 1-bedroom/1-bathroom ADU (potential 12 total). Recent upgrades and replacements include stucco, windows, doors, exterior lighting, electrical, plumbing, garage doors, washer and dryer, walkways and stairs, landscaping and renovated units. 1754 Pine Ave features 6 garages, 2 additional parkings spaces, and an on-site laundry facility. The tenants also enjoy close access to freeways and public transportation making commutes much easier.

Last Agent to Sell the Property

Stephen Takahashi

Lyon Stahl Investment Real Estate, Inc. License #01944770 Listed on: 08/23/2022

Lyon Stahl Investment Real Estate, Inc.

Co-Listed By

Johnnie Stiegler

Lyon Stahl Investment Real Estate, Inc. License #01981597

Last Buyer's Agent

Nico Rosmarin

Lyon Stahl Investment Real Estate, Inc. License #02023847

Lyon Stahl Investment Real Estate, Inc.

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1964

Lot Details

  • 7,567 Sq Ft Lot
  • Two or More Common Walls
  • Density is up to 1 Unit/Acre

Parking

  • 6 Car Garage
  • 2 Open Parking Spaces
  • Parking Available
  • Front Facing Garage
  • Rear-Facing Garage

Home Design

  • Property Attached

Interior Spaces

  • 8,532 Sq Ft Home
  • 2-Story Property
  • Laundry Room

Bedrooms and Bathrooms

  • 16 Bedrooms
  • 11 Bathrooms

Listing and Financial Details

  • Tax Lot 7
  • Tax Tract Number 575
  • Assessor Parcel Number 7269010007
  • $31,142 per year additional tax assessments

Community Details

Building Details

  • 11 Separate Electric Meters
  • 11 Separate Gas Meters
  • 1 Separate Water Meter
  • Electric Expense $2,475
  • Fuel Expense $2,475
  • Gardener Expense $1,200
  • Insurance Expense $4,540
  • Maintenance Expense $8,616
  • Professional Management Expense $10,769
  • Trash Expense $2,475
  • Water Sewer Expense $2,475
  • New Taxes Expense $38,750
  • Operating Expense $73,775
  • Gross Income $215,388
  • Net Operating Income $135,151

Additional Features

  • 11 Units
  • Laundry Facilities

Property Details

Home Type

Multi-Family

Year Built

Built in 1964

Lot Details

0

Parking

6

Listing Details

  • CapRate: 4.36
  • Professional Management Expense: 10769.00
  • Property Attached: Yes
  • Subdivision Name Other: Washington
  • Water Sewer Expenses: 2475.00
  • Zoning: LBR4R
  • Property Type: Residential Income
  • Gardener Expense: 1200.00
  • Parcel Number: 7269010007
  • Year Built: 1964
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Stories: 2
  • Common Walls: 2+ Common Walls
  • Levels: Two
  • Price Per Square Foot: 348.69

Exterior Features

  • Pool Private: No

Garage/Parking

  • Garage Spaces: 6.00
  • Parking: Yes
  • Parking Features: Garage Faces Front, Garage Faces Rear
  • Total Parking Spaces: 8.00
  • Uncovered Spaces: 2.00

Utilities

  • Laundry: Yes
  • Laundry Features: Common Area
  • Sewer: Public Sewer
  • Trash Expense: 2475.00
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No
  • Community Features: Sidewalks

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: 0-1 Unit/Acre
  • Lot Size Sq Ft: 7567.00
  • Lot Size Acres: 0.1737

Multi Family

  • Electric Expense: 2475.00
  • Fuel Expense: 2475.00
  • Gross Income: 215388.00
  • Gross Multiplier: 14.39
  • Gross Operating Income: 208926.00
  • Gross Scheduled Income: 215388.00
  • Insurance Expense: 4540.00
  • Lot Size Area: 7567.0000 Square Feet
  • Maintenance Expense: 8616.00
  • Maintenance Percent: 4.00
  • Net Operating Income: 135151.00
  • Number Of Separate Electric Meters: 11
  • Number Of Separate Gas Meters: 11
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 11
  • Operating Expense: 73775.00
  • Operating Expense Percent: 34.00
  • Rent Control: No
  • Total Actual Rent: 17949.00
  • Total Expenses: 73775.00
  • Vacancy Allowance Rate: 3.00

Tax Info

  • New Taxes Expense: 38750.00
  • Tax Census Tract: 5754.02
  • Tax Lot: 7
  • Tax Tract Number: 575...
  • TaxOtherAnnualAssessmentAmount: 31142.00

Range of Values:

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Value Increase
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Percent Increase
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft Prior Sale
12/13/2022 12/13/22 Sold $2,975,000 -4.0% $349 / Sq Ft
08/23/2022 08/23/22 For Sale $3,100,000 +35.5% $363 / Sq Ft
05/15/2017 05/15/17 Sold $2,287,500 -4.5% $268 / Sq Ft View Prior Sale
04/20/2017 04/20/17 Pending -- -- --
03/21/2017 03/21/17 Price Changed $2,395,000 -4.0% $281 / Sq Ft
02/07/2017 02/07/17 For Sale $2,495,000 -- $292 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: SB22185886

California Regional Multiple Listing Service (CRMLS)