1921 E Washington St Long Beach, CA 90805
Lindbergh NeighborhoodEstimated payment $7,223/month
About This Home
** MAJOR PRICE REDUCTION**
Perfect for investors with a current cap rate of 6.74% and GRM of 13.37 and a market cap rate of 8.43% and GRM of 10.90. Located on a quiet side street off one of the major thoroughfares in North Long Beach providing a great location and ease of commute for tenants.
The property is close to local bus stops, multiple parks, and shopping centers, as well as The Michelle Obama Library. The property sits within 2
miles of both the 91 and 710 freeways. The property is also only a short drive to both downtown Long Beach and the Beach. This fourplex consists
of a front building made up of three 1 Bed 1 Bath units each with a garage, and a rear building which is a detached 4 Bed 2 Bath house The rear
house sits at ~1728 sqft. While the front building units average ~485 sqft. The tenants pay their own utilities, keeping the utilities low. This
building is currently fully occupied and has had less than 3% vacancy over the last 3 years. Two of the units have been partially renovated during
the most recent tenant transitions. This property also has storage and laundry room opportunities for potential sellers to build out.
Price
$1,155,000
Price/Unit $288,750
Price/sqft $363
Current Cap Rate 6.74%
Market Cap Rate 8.43%
Current GRM 13.37
Market GRM 10.90
Listing Agent
Southland Property Group Brokerage Phone: 562-519-0099 License #01963224 Listed on: 01/11/2025
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $13,141
Year Built
- Built in 1949
Lot Details
- 5,600 Sq Ft Lot
- No Common Walls
- Density is up to 1 Unit/Acre
Parking
- 3 Car Garage
Home Design
- Quadruplex
- Entry on the 1st floor
Interior Spaces
- 3,184 Sq Ft Home
- 2-Story Property
- Laundry Room
Bedrooms and Bathrooms
- 7 Bedrooms
- 6 Bathrooms
Location
- Urban Location
- Suburban Location
Listing and Financial Details
- Tax Lot 16
- Tax Tract Number 4963
- Assessor Parcel Number 7128032018
- $857 per year additional tax assessments
Community Details
Overview
- 2 Buildings
- 4 Units
- North Long Beach Subdivision
Amenities
- Laundry Facilities
Building Details
- 3 Leased Units
- 4 Separate Electric Meters
- 4 Separate Gas Meters
- 4 Separate Water Meters
- Insurance Expense $7,500
- Professional Management Expense $1,664
- Operating Expense $8,664
- Gross Income $85,240
- Net Operating Income $76,740
Map
Home Values in the Area
Average Home Value in this Area
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 | $13,141 | $1,133,923 | $416,241 | $717,682 |
| 2024 | $13,141 | $988,380 | $416,160 | $572,220 |
| 2023 | $12,918 | $969,000 | $408,000 | $561,000 |
| 2022 | $12,132 | $950,000 | $400,000 | $550,000 |
| 2021 | $1,925 | $95,297 | $28,962 | $66,335 |
| 2020 | $1,919 | $94,601 | $28,666 | $65,935 |
| 2019 | $1,898 | $92,752 | $28,104 | $64,648 |
| 2018 | $1,762 | $90,939 | $27,553 | $63,386 |
| 2016 | $1,613 | $87,140 | $26,484 | $60,656 |
| 2015 | $1,564 | $85,832 | $26,087 | $59,745 |
| 2014 | $1,579 | $84,151 | $25,576 | $58,575 |
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 09/16/2025 09/16/25 | Price Changed | $1,150,000 | -0.4% | $361 / Sq Ft |
| 09/08/2025 09/08/25 | Price Changed | $1,155,000 | -1.2% | $363 / Sq Ft |
| 08/14/2025 08/14/25 | Price Changed | $1,169,000 | -0.5% | $367 / Sq Ft |
| 06/13/2025 06/13/25 | For Sale | $1,175,000 | 0.0% | $369 / Sq Ft |
| 06/06/2025 06/06/25 | Price Changed | $1,175,000 | +2.2% | $369 / Sq Ft |
| 06/01/2025 06/01/25 | Sold | $1,150,000 | -2.1% | $361 / Sq Ft |
| 05/09/2025 05/09/25 | Pending | -- | -- | -- |
| 04/23/2025 04/23/25 | Price Changed | $1,175,000 | 0.0% | $369 / Sq Ft |
| 04/23/2025 04/23/25 | For Sale | $1,175,000 | -2.1% | $369 / Sq Ft |
| 04/03/2025 04/03/25 | Pending | -- | -- | -- |
| 02/25/2025 02/25/25 | Price Changed | $1,200,000 | -4.0% | $377 / Sq Ft |
| 01/11/2025 01/11/25 | For Sale | $1,250,000 | -- | $393 / Sq Ft |
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Grant Deed | $170,000 | Old Republic Title Company | |
| Grant Deed | $840,000 | Old Republic Title Company | |
| Interfamily Deed Transfer | -- | Old Republic Title Company | |
| Interfamily Deed Transfer | -- | Investors Title Company |
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Open | $820,000 | New Conventional | |
| Previous Owner | $630,000 | New Conventional |
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: PW25003991
APN: 7128-032-018
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Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
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