NOT LISTED FOR SALE
3 Beds
3 Baths
5,594 Sq Ft
5,670 Sq Ft Lot

Last Sold July 24, 2013

Last sale price $1,025,000 $183 Per Sq Ft

63 Days on Market

About This Home

As of July 2013

Well-located 9u in one of Long Beach's densest rental submarkets. The fully secured building has been upgaded some recently - most notably, with new windows almost throughout and a new Hot H2O Heater. The staircase has been redone, in the past, to concrete and steel, also. The units are upgraded, as needed, when units turnover. Tenants enjoy the use of garage parking, on-site laundry, and easy access to the Coast, as well as PCH and the 710 Fwy - to job centers at the Port and/or Greater LA.

Near the intersection of Atlantic and PCH. Abundant retail, dining and shopping in all directions....to mention the Coast and the 710 Fwy too.

Last Agent to Sell the Property

Brice W. Head, MBA

Re/Max Commercial & Investment License #01330706 Listed on: 03/06/2013

Last Buyer's Agent

Joshua Cohen

Keller Williams Realty License #01346713

Keller Williams Realty

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1963

Lot Details

  • 5,670 Sq Ft Lot
  • Two or More Common Walls
  • Rectangular Lot

Parking

  • 6 Car Garage
  • Parking Available
  • Assigned Parking

Home Design

  • 5,594 Sq Ft Home
  • Property Attached

Bedrooms and Bathrooms

  • 3 Bedrooms
  • 3 Bathrooms

Outdoor Features

  • Exterior Lighting

Listing and Financial Details

  • Legal Lot and Block 23 / 1
  • Tax Tract Number 2
  • Assessor Parcel Number 7209006023

Community Details

Overview

  • 9 Units

Building Details

  • 9 Leased Units
  • 10 Separate Electric Meters
  • 10 Separate Gas Meters
  • 1 Separate Water Meter
  • Electric Expense $2,025
  • Insurance Expense $1,600
  • Maintenance Expense $6,460
  • Trash Expense $2,025
  • Water Sewer Expense $2,025
  • New Taxes Expense $11,644
  • Gross Income $7,690
  • Net Operating Income $63,058

Property Details

Home Type

Multi-Family

Year Built

Built in 1963

Lot Details

0

Parking

6

Listing Details

  • CapRate: 6.01
  • Property Attached: Yes
  • Water Sewer Expenses: 2025.00
  • Zoning: LBPD25
  • Property Type: Residential Income
  • Parcel Number: 7209006023
  • Year Built: 1963
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Common Walls: 2+ Common Walls
  • Levels: Two
  • Price Per Square Foot: 183.23

Exterior Features

  • Pool Private: No
  • Spa: No

Garage/Parking

  • Garage Spaces: 6.00
  • Parking: Yes
  • Parking Features: Assigned
  • Total Parking Spaces: 6.00

Utilities

  • Utilities: Sewer Available
  • Trash Expense: 2025.00
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No
  • Community Features: Street Lights

Lot Info

  • Lot Features: Rectangular Lot
  • Lot Size Sq Ft: 5670.00
  • Lot Size Acres: 0.1300

Multi Family

  • Electric Expense: 2025.00
  • Gross Income: 7690.00
  • Gross Multiplier: 10.81
  • Gross Scheduled Income: 97080.00
  • Gross Spendable Income: 21971.00
  • Insurance Expense: 1600.00
  • Lot Size Area: 5670.0000 Square Feet
  • Maintenance Expense: 6460.00
  • Net Operating Income: 63058.00
  • Number Of Separate Electric Meters: 10
  • Number Of Separate Gas Meters: 10
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 9
  • Number Of Units Total: 9
  • Operating Expense: 31254.00
  • Rent Control: No
  • Total Actual Rent: 7690.00
  • Vacancy Allowance Rate: 3.00

Tax Info

  • New Taxes Expense: 11644.00
  • Tax Block: 1
  • Tax Lot: 23
  • Tax Tract Number: 2
  • Tax Year: 2011
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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
07/24/2013 07/24/13 Sold $1,025,000 -2.3% $183 / Sq Ft
05/08/2013 05/08/13 Pending -- -- --
03/06/2013 03/06/13 For Sale $1,049,000 -- $188 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

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 $16,969 $1,256,511 $367,754 $888,757
2024 $16,969 $1,231,875 $360,544 $871,331
2023 $16,670 $1,207,722 $353,475 $854,247
2022 $15,666 $1,184,043 $346,545 $837,498
2021 $13,422 $1,160,827 $339,750 $821,077
2019 $15,103 $1,127,768 $329,674 $798,094
2018 $14,680 $1,105,682 $323,210 $782,472
2016 $13,504 $1,061,432 $310,660 $750,772
2015 $12,976 $1,045,489 $305,994 $739,495
2014 $12,920 $1,025,010 $300,000 $725,010
Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: SB13037630

California Regional Multiple Listing Service (CRMLS)