NOT LISTED FOR SALE

1764 Freeman Ave Long Beach, CA 90804

Zaferia Neighborhood
2 Beds
2 Baths
6,080 Sq Ft
6,500 Sq Ft Lot

Last Sold April 04, 2022

Last sale price $2,800,000 $461 Per Sq Ft

56 Days on Market

Highlights

  • Contemporary Architecture
  • End Unit
  • Laundry Room
  • Woodrow Wilson High School Rated A
  • Balcony
  • Level Lot

About This Home

As of April 2022

THIS 8 UNIT APARTMENT BUILDING IS LOCATED IN A PRIME LONG BEACH AREA, 2.3 MILES FROM FREEWAY 405, 2.4 MILES FROM CALIFORNIA STATE UNIVERSITY LONG BEACH, 8 MILES FREM PORT OF LONG BEACH, RIGHT OFF PACIFIC COAST HIGHWAY NEAR TRAFIC CIRCLE AREA. BUILDING IS SECURE, GATED AND MONITORED BY VIDEO CAMERAS. 12 COVERED PARKING SPACES ARE LOCATED ON THE GROUNG FLOOR UNDER THE UNITS. ALL 8 UNITS ARE 2 BEDROOM 2 BATH, WITH UPGRADED KITCHENS, LAMINATED AND CERAMIC FLOORS, INSIDE LAUNDRY SPACE AND SEPARATE GAS AND ELECTRIC METERS. ALL RENTS ARE BELOW THE CURRENT MARKET RENTS. THERE IS A SIGNIFICANT VALUE ADDED OPORTUNITY AT MARKET RENTS. All LEASES EXCEPT ONE WHICH EXPIRES IN JUNE OF 2022, ARE ON MONTH TO MONTH BASES. 4.8% CAP RATE AT MARKET RENTS. PICTURES AND VISUAL TOUR ARE ATTACHED.

Last Agent to Sell the Property

Ata Boroumand

Berkshire Hathaway HomeService License #01059087 Listed on: 12/17/2021

Berkshire Hathaway HomeService

Last Buyer's Agent

Cameron Jacques

Kinnery's Brokerage House License #01852032

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $12,891

Year Built

  • Built in 1986

Lot Details

  • 6,500 Sq Ft Lot
  • End Unit
  • Two or More Common Walls
  • Level Lot

Parking

  • 12 Car Garage
  • Parking Available
  • Assigned Parking

Home Design

  • Contemporary Architecture
  • Property Attached

Interior Spaces

  • 6,080 Sq Ft Home
  • 3-Story Property
  • Free Standing Fireplace
  • Electric Fireplace
  • Gas Fireplace
  • Living Room with Fireplace
  • Laminate Flooring
  • Laundry Room

Bedrooms and Bathrooms

  • 2 Bedrooms
  • 2 Bathrooms

Outdoor Features

  • Balcony
  • Exterior Lighting

Utilities

  • Natural Gas Connected
  • Phone Available
  • Cable TV Available

Listing and Financial Details

  • Tenant pays for electricity, gas
  • Tax Lot 52
  • Tax Tract Number 2
  • Assessor Parcel Number 7259033004
  • $1,411 per year additional tax assessments

Community Details

Overview

  • 8 Units

Building Details

  • 8 Leased Units
  • 9 Separate Electric Meters
  • 9 Separate Gas Meters
  • 1 Separate Water Meter
  • Electric Expense $653
  • Gardener Expense $500
  • Insurance Expense $2,759
  • Maintenance Expense $2,400
  • Other Expense $1,800
  • Pest Control $660
  • Trash Expense $300
  • Water Sewer Expense $2,805
  • New Taxes Expense $33,411
  • Operating Expense $45,288
  • Gross Income $170,940
  • Net Operating Income $122,233

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$12,891

Year Built

Built in 1986

Lot Details

0

Parking

12

Listing Details

  • CapRate: 3.80
  • Price Per Unit: 400000
  • Property Attached: Yes
  • Road Frontage Type: City Street
  • Water Sewer Expenses: 2805.00
  • Zoning: LBR2N
  • Architectural Style: Contemporary
  • Property Type: Residential Income
  • Gardener Expense: 500.00
  • Parcel Number: 7259033004
  • Year Built: 1986
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Fireplace: Yes
  • Interior Amenities: Balcony
  • Stories: 3
  • Common Walls: 2+ Common Walls, End Unit
  • Flooring: Laminate
  • Fireplace Features: Living Room, Electric, Gas, Free Standing
  • Levels: One
  • Price Per Square Foot: 460.53
  • Room Type: Laundry, Living Room

Exterior Features

  • Pool Private: No
  • Spa: No

Garage/Parking

  • Garage Spaces: 12.00
  • Parking: Yes
  • Parking Features: Assigned
  • Total Parking Spaces: 12.00

Utilities

  • Utilities: Cable Available, Electricity Connected, Natural Gas Connected, Phone Available, Sewer Connected, Water Connected
  • Laundry: Yes
  • Electric: Electricity - On Property
  • Laundry Features: In Closet
  • Pest Control Expense: 660.00
  • Sewer: Public Sewer
  • Trash Expense: 300.00
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No
  • Community Features: Sidewalks, Street Lights

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: Level with Street, Lot 6500-9999, Level
  • Lot Size Sq Ft: 6500.00
  • Lot Size Acres: 0.1492
  • Latitude Manual: 33.78930000

Rental Info

  • Tenant Pays: Electricity, Gas

Multi Family

  • Electric Expense: 653.00
  • Gross Income: 170940.00
  • Gross Multiplier: 18.72
  • Gross Operating Income: 167521.00
  • Gross Scheduled Income: 170940.00
  • Insurance Expense: 2759.00
  • Lot Size Area: 6500.0000 Square Feet
  • Maintenance Expense: 2400.00
  • Net Operating Income: 122233.00
  • Number Of Separate Electric Meters: 9
  • Number Of Separate Gas Meters: 9
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 8
  • Number Of Units Total: 8
  • Operating Expense: 45288.00
  • Other Expense: 1800.00
  • Other Expense Description: Janitor
  • Rent Control: No
  • Total Actual Rent: 14245.00
  • Total Expenses: 45288.00
  • Vacancy Allowance: 3419

Tax Info

  • New Taxes Expense: 33411.00
  • Tax Census Tract: 5751.03
  • Tax Lot: 52
  • Tax Tract Number: 2
  • Tax Annual Amount: 12891.00
  • TaxOtherAnnualAssessmentAmount: 1410.97

Range of Values:

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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 Change Sq Ft Price
04/04/2022 04/04/22 Sold $2,800,000 -12.5% $461 / Sq Ft
02/11/2022 02/11/22 Pending -- -- --
12/17/2021 12/17/21 For Sale $3,200,000 -- $526 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Ata Boroumand

    Seller's Agent in 2022

    Ata Boroumand

    Berkshire Hathaway HomeService

    (949) 363-5146

    1 in this area

    1 Total Sale

    Ata Boroumand
    Section Image
  • Cameron Jacques

    Buyer's Agent in 2022

    Cameron Jacques

    Kinnery's Brokerage House

    (562) 800-0838

    1 in this area

    54 Total Sales

    Cameron Jacques
    Section Image
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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: OC21265776

California Regional Multiple Listing Service (CRMLS)
California Los Angeles County Long Beach 90804 Zaferia

1764 Freeman Ave, Long Beach, CA

This home is located at 1764 Freeman Ave, Long Beach, CA 90804 since 17 December 2021. This property was built in 1986. 1764 Freeman Ave is a home located in Los Angeles County with nearby schools including Nieto Herrera Elementary School, Woodrow Wilson High School, and Creative Arts School.

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.

California Regional Multiple Listing Service (CRMLS) 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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