NOT LISTED FOR SALE

Estimated Value: $1,176,000 - $1,416,000

4 Beds
4 Baths
3,040 Sq Ft
$416/Sq Ft Est. Value

Last Sold February 23, 2021

Last sale price $1,000,000 $329 Per Sq Ft

Est. 22% increase in value since last sale

Current estimated payment $7,643/month

43 Days on Market

Highlights

  • Spanish Architecture
  • No HOA
  • Wall Furnace
  • Long Beach Polytechnic High School Rated A
  • Neighborhood Views

About This Home

As of February 2021

We are pleased to present The 8th Street apartments, located South of Anaheim St. in a zip code that has seen a tremendous increase in apartment sales year-over-year. The property is comprised of four large 1-bedroom units that are prime for a conversion into 2-bedroom units. The building is located between two well-respected Historic neighborhoods, Rose Park and Craftsman Village, while also being just North of the trendy Retro Row. With a WalkScore of 98, tenants are sure to love the location and the ability to walk to all of the amenities they need. The property has just undergone new exterior paint in November of 2020, is submetered for both gas and electric, and has been professionally managed by Ernst and Haas for the last 5 years. With a price well below the average for the City of Long Beach, this property won't last.

Last Agent to Sell the Property

Juan Huizar

Sage Real Estate Group, Inc. License #01417642 Listed on: 11/23/2020

Co-Listed By

Caleb Baldwin

INTI Realty License #02056751

Last Buyer's Agent

Juan Huizar

Sage Real Estate Group, Inc. License #01417642 Listed on: 11/23/2020

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $14,010

Year Built

  • Built in 1922

Lot Details

  • 2,937 Sq Ft Lot
  • No Common Walls
  • Density is up to 1 Unit/Acre

Home Design

  • Quadruplex
  • Spanish Architecture
  • Flat Roof Shape
  • Raised Foundation
  • Spanish Tile Roof
  • Stucco

Interior Spaces

  • 3,040 Sq Ft Home
  • 2-Story Property
  • Neighborhood Views

Bedrooms and Bathrooms

  • 4 Bedrooms
  • 4 Bathrooms

Parking

  • 4 Open Parking Spaces
  • 4 Parking Spaces
  • Parking Available
  • Parking Lot
  • Off-Street Parking

Outdoor Features

  • Exterior Lighting
  • Rain Gutters

Location

  • Urban Location

Utilities

  • Wall Furnace
  • Natural Gas Connected

Listing and Financial Details

  • Tenant pays for electricity, gas, trash collection
  • Tax Lot 15
  • Tax Tract Number 2983
  • Assessor Parcel Number 7267016029

Community Details

Overview

  • No Home Owners Association
  • 4 Units

Building Details

  • 4 Leased Units
  • Rent Control
  • 4 Separate Electric Meters
  • 4 Separate Gas Meters
  • 1 Separate Water Meter
  • Gardener Expense $680
  • Insurance Expense $1,376
  • Maintenance Expense $4,046
  • Other Expense $503
  • Pest Control $65
  • Professional Management Expense $4,297
  • Water Sewer Expense $1,017
  • New Taxes Expense $13,112
  • Operating Expense $25,096
  • Gross Income $65,004
  • Net Operating Income $39,908

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$14,010

Year Built

Built in 1922

Lot Details

0

Listing Details

  • Other Phone Description: Caleb Baldwin
  • Other Phone Number: 559-707-2136
  • Price Per Unit: 262500
  • Professional Management Expense: 4297.00
  • Property Attached: No
  • Road Frontage Type: City Street
  • Road Surface Type: Paved
  • View: Yes
  • Water Sewer Expenses: 1017.00
  • Zoning: LBR2N
  • Architectural Style: Spanish
  • Property Sub Type: Quadruplex
  • Property Type: Residential Income
  • Gardener Expense: 680.00
  • Parcel Number: 7267016029
  • Year Built: 1922
  • Special Features: None

Interior Features

  • Stories: 2
  • Entry Location: In Front
  • Common Walls: No Common Walls
  • Entry Level: 1
  • Levels: Two
  • Price Per Square Foot: 328.95

Exterior Features

  • Foundation: Raised
  • View: Neighborhood
  • Pool Private: No
  • Roof: Flat, Spanish Tile
  • Spa: No
  • Construction Materials: Stucco

Garage/Parking

  • Parking: Yes
  • Parking Features: Off Street, On Site, Parking Space
  • Total Parking Spaces: 4.00
  • Uncovered Spaces: 4.00

Utilities

  • Utilities: Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
  • Heating: Yes
  • Laundry: No
  • Heating Type: Wall Furnace
  • Pest Control Expense: 65.00
  • Sewer: Public Sewer
  • Water Source: Public

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Community Features: Gutters, Sidewalks, Storm Drains, Street Lights, Urban

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: 0-1 Unit/Acre
  • Lot Size Sq Ft: 2937.00
  • Lot Size Acres: 0.0674

Rental Info

  • Tenant Pays: Electricity, Gas, Trash Collection

Multi Family

  • Average1 Bed Area: 760 Square Feet
  • Gross Income: 65004.00
  • Gross Multiplier: 16.14
  • Gross Scheduled Income: 65004.00
  • Insurance Expense: 1376.00
  • Lot Size Area: 2937.0000 Square Feet
  • Maintenance Expense: 4046.00
  • Net Operating Income: 39908.00
  • Number Of Separate Electric Meters: 4
  • Number Of Separate Gas Meters: 4
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 4
  • Number Of Units Total: 4
  • Operating Expense: 25096.00
  • Other Expense: 503.00
  • Other Expense Description: Misc.
  • Rent Control: Yes
  • Total Actual Rent: 5417.00
  • Total Expenses: 25096.00

Tax Info

  • New Taxes Expense: 13112.00
  • Tax Census Tract: 5764.03
  • Tax Lot: 15
  • Tax Tract Number: 2983

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Dec 4, 2023
Sold by
Brian Maginnis Intervivos Trust
Bought by
Socal Rentals Llc
Current Estimated Value
$1,220,154

Purchase Details

Listed on
Nov 23, 2020
Closed on
Jan 11, 2021
Sold by
Telaio Llc
Bought by
Maginnis Brian M and Brian Maginnis Intervivos Trus
Seller's Agent
Juan Huizar
Sage Real Estate Group, Inc.
Buyer's Agent
Juan Huizar
Sage Real Estate Group, Inc.
List Price
$1,049,000
Sold Price
$1,000,000
Premium/Discount to List
-$49,000
-4.67%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
5.38%
Original Mortgage
$650,000
Interest Rate
2.25%
Mortgage Type
New Conventional

Purchase Details

Listed on
Apr 23, 2013
Closed on
May 14, 2013
Sold by
4Th Street Partners Llc
Bought by
Telaio Llc
Seller's Agent
Ori Harpaz
Compass
Buyer's Agent
Victoria Gibo
List Price
$495,000
Sold Price
$495,000

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
9.47%
Original Mortgage
$553,000
Interest Rate
3.6%
Mortgage Type
Stand Alone Refi Refinance Of Original Loan

Purchase Details

Listed on
Apr 23, 2013
Closed on
Apr 9, 2013
Sold by
Rmva Ca Properties Llc
Bought by
4Th Street Partners Llc
Seller's Agent
Ori Harpaz
Compass
Buyer's Agent
Victoria Gibo
List Price
$495,000
Sold Price
$495,000

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$553,000
Interest Rate
3.6%
Mortgage Type
Stand Alone Refi Refinance Of Original Loan

Purchase Details

Closed on
Oct 7, 2010
Sold by
Johnson Michael A
Bought by
Rmva Ca Properties Llc

Purchase Details

Closed on
Dec 5, 2008
Sold by
Landmark Development Inc
Bought by
Lee Sang Ho

Purchase Details

Closed on
Oct 22, 2007
Sold by
Freedom Real Estate Inc
Bought by
Landmark Development and Clover Bay Development Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$40,000
Interest Rate
6.36%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
Feb 20, 2007
Sold by
Johnson Michael A
Bought by
1833 East 8Th Street Trust

Purchase Details

Closed on
Mar 12, 2003
Sold by
Caddell Joseph
Bought by
Johnson Michael A

Purchase Details

Closed on
May 30, 2001
Sold by
Polk Colleen K
Bought by
Caddell Joseph

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$238,500
Interest Rate
10.87%

Purchase Details

Closed on
May 17, 2001
Sold by
Fleming Kenneth
Bought by
Polk Colleen K and Davidson Frank A

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$238,500
Interest Rate
10.87%

Purchase Details

Closed on
May 23, 2000
Sold by
Fleming Ardra
Bought by
Fleming Kenneth

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$162,000
Interest Rate
8.08%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
May 20, 2000
Sold by
Property Vii Llc
Bought by
Fleming Kenneth

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$162,000
Interest Rate
8.08%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
Feb 24, 2000
Sold by
Ali Rafaqat
Bought by
Property Vii Llc

Purchase Details

Closed on
Oct 12, 1998
Sold by
Covington Keith A
Bought by
Phns Inc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$224,000
Interest Rate
8.5%

Purchase Details

Closed on
Oct 2, 1998
Sold by
Phns Inc
Bought by
Ali Rafaqat

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$224,000
Interest Rate
8.5%

Purchase Details

Closed on
Jul 22, 1997
Sold by
Covington Keith A
Bought by
Covington Keith A and Covington Kathleen A

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$109,600
Interest Rate
7.45%

Purchase Details

Closed on
May 28, 1997
Sold by
Pray Ann T
Bought by
Pray Ann Turner and Ann Turner Pray Trust

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$109,600
Interest Rate
7.45%

Purchase Details

Closed on
Aug 22, 1994
Sold by
Pray Ann Monroe Turner
Bought by
Pray Ann Turner
Source: Public Records

Range of Values:

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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
Socal Rentals Llc -- None Listed On Document
Maginnis Brian M $1,000,000 First Amer Ttl Of Los Angele
Telaio Llc $495,004 Lawyers Title Company
4Th Street Partners Llc $288,000 Lawyers Title
Rmva Ca Properties Llc $365,000 Accommodation
Lee Sang Ho -- None Available
Landmark Development $800,000 None Available
1833 East 8Th Street Trust -- None Available
Johnson Michael A -- --
Caddell Joseph $238,500 Fidelity National Title Co
Polk Colleen K $23,000 --
Fleming Kenneth -- Fidelity National Title
Fleming Kenneth $164,000 Fidelity National Title
Property Vii Llc $158,400 First American Title Ins Co
Phns Inc $180,000 Equity Title Company
Ali Rafaqat $280,000 Equity Title
Covington Keith A -- --
Covington Keith A $137,000 Orange Coast Title
Pray Ann Turner -- --
Pray Ann Turner -- --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Maginnis Brian M $650,000
Previous Owner 4Th Street Partners Llc $553,000
Previous Owner 4Th Street Partners Llc $553,000
Previous Owner Landmark Development $40,000
Previous Owner Johnson Michael A $607,500
Previous Owner Johnson Michael A $350,000
Previous Owner Johnson Michael A $279,000
Previous Owner Johnson Michael A $191,400
Previous Owner Johnson Michael A $455,000
Previous Owner Johnson Michael A $250,000
Previous Owner Caddell Joseph $238,500
Previous Owner Fleming Kenneth $25,000
Previous Owner Fleming Kenneth $162,000
Previous Owner Ali Rafaqat $224,000
Previous Owner Covington Keith A $109,600
Closed Covington Keith A $13,700
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
02/23/2021 02/23/21 Sold $1,000,000 -4.7% $329 / Sq Ft
01/05/2021 01/05/21 Pending -- -- --
11/23/2020 11/23/20 For Sale $1,049,000 +111.9% $345 / Sq Ft
05/20/2013 05/20/13 Sold $495,000 0.0% $163 / Sq Ft
05/01/2013 05/01/13 Pending -- -- --
04/23/2013 04/23/13 For Sale $495,000 -- $163 / 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 $14,010 $1,086,300 $703,800 $382,500
2024 $14,010 $1,065,000 $690,000 $375,000
2023 $13,726 $1,040,400 $676,260 $364,140
2022 $12,884 $1,020,000 $663,000 $357,000
2021 $7,418 $563,128 $398,173 $164,955
2020 $7,398 $557,355 $394,091 $163,264
2019 $7,312 $546,427 $386,364 $160,063
2018 $7,101 $535,714 $378,789 $156,925
2016 $6,527 $514,914 $364,081 $150,833
2015 $6,272 $507,181 $358,613 $148,568
2014 $6,243 $497,247 $351,589 $145,658
Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PW20245338

California Regional Multiple Listing Service (CRMLS)

APN: 7267-016-029