NOT LISTED FOR SALE
3 Beds
2 Baths
4,522 Sq Ft
9,023 Sq Ft Lot

Sale Details

Date Sold: July 5, 2013

Last sale price $775,000 $171 Per Sq Ft

86 Days on Market

Highlights

  • Spanish Architecture
  • 4-minute walk to Pacific Coast Highway Station
  • Wood Siding
  • Long Beach Polytechnic High School Rated A

About This Home

As of July 2013

1868 Locust Avenue in the city of Long Beach, California. It is near the major cross streets of Long Beach Boulevard and Pacific Coast Highway. The property was built upon a raised foundation with wood framing and a stucco exterior, and is covered with a pitched shingle roof. It has a total of eight units that consists of seven one-bedroom/one-bathroom units and one two bedroom/ one-bathroom unit. The subject property also boasts four single-car garages for tenants. Due to the subject property's location in a strong rental market, 1868 Locust Avenue would make a great addition to any
investor's portfolio.

Last Agent to Sell the Property

Steve Bogoyevac

Steven M. Bogoyevac, Broker License #01332755 Listed on: 03/18/2013

Last Buyer's Agent

YEN-CHIUNG LIANG

PREMIER INVESTORS R. E. INC. License #00969433

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Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1949

Lot Details

  • 9,023 Sq Ft Lot
  • Two or More Common Walls

Parking

  • On-Street Parking

Home Design

  • 4,522 Sq Ft Home
  • Spanish Architecture
  • Property Attached
  • Wood Siding
  • Stucco

Bedrooms and Bathrooms

  • 3 Bedrooms
  • 2 Bathrooms

Additional Features

  • Suburban Location
  • Septic Type Unknown

Listing and Financial Details

  • Tax Lot 35
  • Tax Tract Number 35
  • Assessor Parcel Number 7209015007

Community Details

Overview

  • 8 Units

Building Details

  • 8 Separate Electric Meters
  • 8 Separate Gas Meters
  • 8 Separate Water Meters
  • Insurance Expense $1,932
  • Maintenance Expense $6,448
  • Other Expense $1,600
  • Professional Management Expense $3,225
  • New Taxes Expense $9,146
  • Gross Income $7,000
  • Net Operating Income $53,744

Property Details

Home Type

Multi-Family

Year Built

Built in 1949

Lot Details

9,023 Sq Ft Lot

Listing Details

  • CapRate: 7.17
  • Professional Management Expense: 3225.00
  • Property Attached: Yes
  • Road Surface Type: Gravel
  • Zoning: LBPD29
  • Architectural Style: Spanish
  • Property Type: Residential Income
  • Parcel Number: 7209015007
  • Year Built: 1949
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Common Walls: 2+ Common Walls
  • Price Per Square Foot: 171.38

Exterior Features

  • Pool Private: No
  • Construction Materials: Stucco, Wood Siding

Garage/Parking

  • Parking: No
  • Parking Features: Street

Utilities

  • Sewer: Unknown
  • Water Source: Public

Condo/Co-op/Association

  • Community Features: Suburban

Lot Info

  • Lot Size Sq Ft: 9023.00
  • Lot Size Acres: 0.2070

Multi Family

  • Gross Income: 7000.00
  • Gross Multiplier: 9.23
  • Gross Scheduled Income: 90300.00
  • Insurance Expense: 1932.00
  • Lot Size Area: 9023.0000 Square Feet
  • Maintenance Expense: 6448.00
  • Net Operating Income: 53744.00
  • Number Of Separate Electric Meters: 8
  • Number Of Separate Gas Meters: 8
  • Number Of Separate Water Meters: 8
  • Number Of Units Total: 8
  • Operating Expense: 32221.00
  • Other Expense: 1600.00
  • Other Expense Description: Misc/Res
  • Rent Control: No

Tax Info

  • New Taxes Expense: 9146.00
  • Tax Lot: 35
  • Tax Tract Number: 35
  • Tax Year: 2011

Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

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Purchase History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Buyer Sale Price Title Company
-- None Available
Gan Eng Kuan $775,000 Fidelity Van Nuys
Napier Kari -- None Available
Napier Kari $748,000 Lawyers Title Company
Ly Tieng Veng -- First American Title Ins Co
Johnston Kenneth Lee -- Alliance Title Company
Johnston Kenneth Lee -- --
Johnston Kenneth Lee -- --
Source: Public Records

Mortgage History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Status Borrower Loan Amount
Open $825,000
Previous Owner Gan Eng Kuan $581,250
Previous Owner Napier Kari $573,000
Previous Owner Ly Tieng Veng $529,996
Previous Owner Johnston Kenneth Lee $550,000
Source: Public Records

Property History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Event Price List to Sale Price per Sq Ft
07/05/2013 07/05/13 Sold $775,000 0.0% $171 / Sq Ft
05/17/2013 05/17/13 Pending -- -- --
02/20/2013 02/20/13 For Sale $775,000 -- $171 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

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
2026 $13,753 $969,032 $375,109 $593,923
2025 $13,753 $950,032 $367,754 $582,278
2024 $13,145 $931,405 $360,544 $570,861
2023 $12,913 $913,143 $353,475 $559,668
2022 $12,148 $895,240 $346,545 $548,695
2021 $11,879 $877,687 $339,750 $537,937
2019 $11,710 $851,977 $329,674 $522,303
2018 $11,279 $835,279 $323,210 $512,069
2017 $11,159 $818,588 $316,873 $501,715
2016 $10,382 $802,538 $310,660 $491,878
2015 $9,981 $790,484 $305,994 $484,490
2014 $9,947 $775,000 $300,000 $475,000
Source: Public Records

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PW13027007

California Regional Multiple Listing Service (CRMLS)
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