NOT LISTED FOR SALE

18 E 56th St Long Beach, CA 90805

Dairy Neighborhood

Estimated Value: $1,300,000 - $1,597,039

13 Beds
5 Baths
2,342 Sq Ft
$598/Sq Ft Est. Value

Last Sold March 27, 2020

Last sale price $1,100,000 $470 Per Sq Ft

Est. 27% increase in value since last sale

Current estimated payment $8,775/month

38 Days on Market

About This Home

As of March 2020

Rare opportunity to own a high cash flow property near development on Atlantic ave. in North Long Beach, Uptown Commons. Uptown Commons is set to open early this year. Rents are very strong. Separately metered. Low vacancy rate. 2 units were freshly renovated within the last 8 months. Click listing has supplements for rent info. CURRENT GRM: 9.33 CURRENT CAP: 6.5%

Last Agent to Sell the Property

John 'Jack' McCann

Lyon Stahl Investment Real Estate, Inc. License #01963932 Listed on: 01/06/2020

Lyon Stahl Investment Real Estate, Inc.

Last Buyer's Agent

Charles Chung

License #01787898

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1939

Lot Details

  • 3,677 Sq Ft Lot

Home Design

  • 2,342 Sq Ft Home

Bedrooms and Bathrooms

  • 13 Bedrooms
  • 5 Bathrooms

Parking

  • 1 Parking Space
  • On-Street Parking

Utilities

  • Air Conditioning
  • Floor Furnace

Listing and Financial Details

  • Assessor Parcel Number 7126-017-006

Community Details

Overview

  • 2 Buildings
  • 4 Units

Building Details

  • Rent Control

Property Details

Home Type

Multi-Family

Year Built

Built in 1939

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Street Number Display: Yes
  • Additional Assessor Parcel Numbers: No
  • Alley: Yes
  • Living Area: 2342
  • Price Per Unit: 268750.00
  • Year Built: 1939
  • State Abbrv: CA
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Stories: 0

Interior Features

  • Bedrooms: 13
  • Total Bathrooms: 5.00
  • Price Per S Q F T: 459.01

Exterior Features

  • Other Structures: Other

Garage/Parking

  • Parking Garage: Above Street Level
  • Total Parking: 1

Utilities

  • Cooling: Air Conditioning
  • Heating: Floor Furnace
  • Water Heaters: Yes

Lot Info

  • Assessed Improvement Value: 285000
  • Assessed Land Value: 390000
  • Assessor Parcel Number: 7126-017-006
  • Geocode Override: No
  • Lot Size Area: 3677

Rental Info

  • Total Actual Rent: 9635.00
  • Rent Control: Yes

Multi Family

  • Unit Type: 2106, 2107, 2108, 2109
  • Gross Rent Multiplier: 9.33
  • Gross Scheduled Income: 115200.00
  • Number Of Units: 4
  • Type Of Units: Income

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jan 6, 2020
Closed on
Mar 13, 2020
Sold by
Prebe Mark
Bought by
Chung Charles and Yermilov Irina
Seller's Agent
John 'Jack' McCann
Lyon Stahl Investment Real Estate, Inc.
Buyer's Agent
Charles Chung
List Price
$1,075,000
Sold Price
$1,100,000
Premium/Discount to List
$25,000
2.33%
Current Estimated Value
$1,400,760

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$300,760
Avg. Annual Appreciation
4.29%
Original Mortgage
$577,500
Outstanding Balance
$509,369
Interest Rate
3.4%
Mortgage Type
New Conventional
Estimated Equity
$891,391

Purchase Details

Closed on
May 1, 2006
Sold by
Prebe Mary Christan
Bought by
Prebe Mark

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$665,000
Interest Rate
6.29%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
Mar 27, 2006
Sold by
Burke Kenneth
Bought by
Prebe Mark

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$665,000
Interest Rate
6.29%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
Jun 20, 2003
Sold by
Crillwa Attorney Investors Llc
Bought by
Burke Kenneth and Burke Rolinda

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$283,500
Interest Rate
6.14%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
Aug 21, 2001
Sold by
Morales Miguel A
Bought by
Crillwa Attorney Investors Llc

Purchase Details

Closed on
Feb 1, 1999
Sold by
Elam Amos A
Bought by
Morales Miguel A

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$135,000
Interest Rate
6.73%
Mortgage Type
Credit Line Revolving
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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Average Value
Not Available
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
Chung Charles $1,100,000 Wfg National Title Co Of Ca
Prebe Mark -- Chicago Title Co
Prebe Mark $595,000 Chicago Title Co
Burke Kenneth $405,000 Southland Title Company
Crillwa Attorney Investors Llc -- American Title
Morales Miguel A -- First American Title Co
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Chung Charles $577,500
Previous Owner Prebe Mark $665,000
Previous Owner Burke Kenneth $283,500
Previous Owner Morales Miguel A $135,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
03/27/2020 03/27/20 Sold $1,100,000 +2.3% $470 / Sq Ft
02/13/2020 02/13/20 Pending -- -- --
02/11/2020 02/11/20 For Sale $1,075,000 0.0% $459 / Sq Ft
01/21/2020 01/21/20 Pending -- -- --
01/06/2020 01/06/20 For Sale $1,075,000 -- $459 / Sq Ft
Source: The MLS

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 $17,234 $1,203,008 $328,093 $874,915
2024 $16,498 $1,179,420 $321,660 $857,760
2023 $16,188 $1,156,295 $315,353 $840,942
2022 $15,208 $1,133,623 $309,170 $824,453
2021 $14,878 $1,111,396 $303,108 $808,288
2020 $10,562 $743,683 $431,096 $312,587
2019 $10,435 $729,106 $422,644 $306,462
2018 $9,669 $675,200 $390,000 $285,200
2016 $7,299 $575,000 $335,000 $240,000
2015 $6,323 $505,000 $295,000 $210,000
2014 $6,405 $505,000 $295,000 $210,000
Source: Public Records

Agents Affiliated with this Home

  • John 'Jack' McCann

    Seller's Agent in 2020

    John 'Jack' McCann

    Lyon Stahl Investment Real Estate, Inc.

    (310) 408-0121

    37 Total Sales

    John 'Jack' McCann
    Section Image

  • C

    Buyer's Agent in 2020

    Charles Chung

See All Agents

Map

Source: The MLS

MLS Number: 20-540658

The MLS

APN: 7126-017-006

California Los Angeles County Long Beach 90805 Dairy

18 E 56th St, Long Beach, CA

Not Listed for Sale

MultiFamily

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