NOT LISTED FOR SALE
12 Beds
9 Baths
11,056 Sq Ft
9,124 Sq Ft Lot

Last Sold April 17, 2015

Last sale price $1,750,000 $158 Per Sq Ft

8 Days on Market

Highlights

  • 0.21 Acre Lot
  • Property is near a park
  • Corner Lot
  • Long Beach Polytechnic High School Rated A
  • Spanish Architecture
  • No HOA

About This Home

As of April 2015

Beautiful, well maintained 15 unit two-story, Spanish Style Apartment building with large open courtyard. The unit mix consists of 1 studio, 10 one bedroom/one bath units and 4 two bedrooms /one bath units. The property offers an on-site laundry facility. Each unit is separately metered for gas and electric. Convenient location close to grocery stores, parks, freeways and public transportation. This is an investors dream!

Last Agent to Sell the Property

Shontay Henderson

Park Place Realty Group License #01512975 Listed on: 03/05/2015

Co-Listed By

Yolanda Wentz

Park Place Realty Group License #00662228

Last Buyer's Agent

Kevin King

Marcus & Millichap License #01158184

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1928 | Remodeled

Lot Details

  • 9,124 Sq Ft Lot
  • Property fronts an alley
  • Two or More Common Walls
  • Wrought Iron Fence
  • Chain Link Fence
  • Stucco Fence
  • No Landscaping
  • Corner Lot
  • Density is 11-15 Units/Acre

Parking

  • On-Street Parking

Home Design

  • Spanish Architecture
  • Property Attached
  • Cosmetic Repairs Needed
  • Major Repairs Completed
  • Spanish Tile Roof
  • Flat Tile Roof

Interior Spaces

  • 11,056 Sq Ft Home
  • 2-Story Property
  • Ceiling Fan
  • Courtyard Views
  • Gas Cooktop
  • Laundry Room

Flooring

  • Carpet
  • Tile
  • Vinyl

Bedrooms and Bathrooms

  • 12 Bedrooms
  • 9 Bathrooms

Home Security

  • Carbon Monoxide Detectors
  • Fire and Smoke Detector

Outdoor Features

  • Exterior Lighting
  • Rain Gutters

Location

  • Property is near a park

Utilities

  • Floor Furnace
  • Wall Furnace

Listing and Financial Details

  • Tenant pays for cable TV, electricity, gas
  • Tax Lot 1
  • Tax Tract Number 2974
  • Assessor Parcel Number 7266023001

Community Details

Overview

  • No Home Owners Association
  • 2 Buildings
  • 15 Units

Amenities

  • Laundry Facilities

Building Details

  • 15 Leased Units
  • 15 Separate Electric Meters
  • 15 Separate Gas Meters
  • 1 Separate Water Meter
  • Insurance Expense $4,716
  • Maintenance Expense $7,200
  • Other Expense $3,000
  • Professional Management Expense $7,365
  • Trash Expense $6,225
  • New Taxes Expense $17,691
  • Gross Income $12,325
  • Net Operating Income $101,653

Property Details

Home Type

Multi-Family

Year Built

Built in 1928 | Remodeled

Lot Details

0

Listing Details

  • Assessments: Yes
  • Professional Management Expense: 7365.00
  • Property Attached: Yes
  • Road Frontage Type: Alley
  • Security: Carbon Monoxide Detector(s), Smoke Detector(s)
  • Subdivision Name Other: Casa Elegante
  • View: Yes
  • Architectural Style: Spanish
  • Property Condition: Repairs Cosmetic, Updated/Remodeled, Repairs Major
  • Property Type: Residential Income
  • Parcel Number: 7266023001
  • Year Built: 1928
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Fireplace: No
  • Interior Amenities: Ceiling Fan(s)
  • Stories: 2
  • Common Walls: 2+ Common Walls
  • Flooring: Carpet, Tile, Vinyl
  • Appliances: Yes
  • Levels: Two
  • Price Per Square Foot: 158.29

Exterior Features

  • View: Courtyard
  • Fencing: Chain Link, Stucco Wall, Wrought Iron
  • Pool Private: No
  • Roof: Flat Tile, Spanish Tile
  • Spa: No

Garage/Parking

  • Parking: No
  • Parking Features: Street

Utilities

  • Utilities: Sewer Available
  • Heating: Yes
  • Laundry: Yes
  • Appliances: Gas Cooktop, Refrigerator
  • Heating Type: Floor Furnace, Wall Furnace
  • Laundry Features: Common Area
  • Trash Expense: 6225.00
  • Water Source: Public

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Community Features: Curbs, Gutters, Sidewalks, Street Lights

Lot Info

  • Lot Features: 11-15 Units/Acre, No Landscaping, Park Nearby, Corner Lot
  • Lot Size Sq Ft: 9124.00
  • Lot Size Acres: 0.2090

Rental Info

  • Tenant Pays: Cable TV, Electricity, Gas

Multi Family

  • Average1 Bed Area: 650
  • Average2 Bed Area: 800
  • Average Studio Area: 600
  • Gross Income: 12325.00
  • Gross Scheduled Income: 147900.00
  • Insurance Expense: 4716.00
  • Lot Size Area: 9124.0000 Square Feet
  • Maintenance Expense: 7200.00
  • Net Operating Income: 101653.00
  • Number Of Separate Electric Meters: 15
  • Number Of Separate Gas Meters: 15
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 15
  • Number Of Units Total: 15
  • Operating Expense: 46247.00
  • Other Expense: 3000.00
  • Rent Control: No
  • Total Actual Rent: 12325.00

Tax Info

  • New Taxes Expense: 17691.00
  • Tax Lot: 1
  • Tax Tract Number: 2974
  • Tax Year: 2014

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 List to Sale Price per Sq Ft
04/17/2015 04/17/15 Sold $1,750,000 0.0% $158 / Sq Ft
03/13/2015 03/13/15 Pending -- -- --
03/05/2015 03/05/15 For Sale $1,750,000 -- $158 / 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: DW15051243

California Regional Multiple Listing Service (CRMLS)