NOT LISTED FOR SALE

193 E Norton St Long Beach, CA 90805

Dairy Neighborhood
3 Beds
3 Baths
7,828 Sq Ft
0.39 Acres

Last Sold April 28, 2020

Last sale price $2,450,000 $313 Per Sq Ft

12 Days on Market

Highlights

  • 0.39 Acre Lot
  • Living Room
  • Laundry Room
  • Cooling System Mounted To A Wall/Window
  • Park
  • Forced Air Heating System

About This Home

As of April 2020

-Desirable Mix of Studio, 1BR & 2 BR Units
-Substantial Rental Upside
-Garages & Open Parking
-Desirable Low-Density Layout
-Over $85,000 in Recent Improvements, Including New Roofs
-Washer/Dryer Hookups (In Some Units)

Last Agent to Sell the Property

Peter Gillin

Morgan Skenderian License #01433769 Listed on: 02/18/2020

Last Buyer's Agent

Doug Rodermund

Morgan Skenderian License #01314304

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1971

Lot Details

  • 0.39 Acre Lot
  • Two or More Common Walls
  • Density is 11-15 Units/Acre
  • 7126-011-025, 7126-011-026

Parking

  • 13 Car Garage
  • 4 Open Parking Spaces
  • On-Street Parking

Home Design

  • Apartment

Interior Spaces

  • 7,828 Sq Ft Home
  • Living Room
  • Laundry Room

Bedrooms and Bathrooms

  • 3 Bedrooms
  • 3 Bathrooms

Outdoor Features

  • Rain Gutters

Utilities

  • Cooling System Mounted To A Wall/Window
  • Forced Air Heating System
  • Natural Gas Connected
  • Phone Available
  • Cable TV Available

Listing and Financial Details

  • Legal Lot and Block 33 / 22
  • Tax Tract Number 5992
  • Assessor Parcel Number 7126011021

Community Details

Overview

  • 3 Buildings
  • 12 Units

Amenities

  • Laundry Facilities

Recreation

  • Park

Building Details

  • 12 Separate Electric Meters
  • 12 Separate Gas Meters
  • 1 Separate Water Meter
  • Electric Expense $1,924
  • Gardener Expense $3,600
  • Insurance Expense $2,348
  • Maintenance Expense $12,944
  • Other Expense $2,159
  • Pest Control $1,200
  • Professional Management Expense $4,800
  • Supplies Expense $750
  • Trash Expense $1,924
  • Water Sewer Expense $1,924
  • New Taxes Expense $28,978
  • Operating Expense $62,553
  • Gross Income $184,920
  • Net Operating Income $116,820

Property Details

Home Type

Multi-Family

Year Built

Built in 1971

Lot Details

0

Parking

13

Listing Details

  • CapRate: 4.90
  • Professional Management Expense: 4800.00
  • Property Attached: Yes
  • Subdivision Name Other: De Forest
  • Supplies Expense: 750.00
  • Water Sewer Expenses: 1924.00
  • Zoning: LBR2N
  • Property Type: Residential Income
  • Gardener Expense: 3600.00
  • Parcel Number: 7126011021
  • Year Built: 1971
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Interior Amenities: Unfurnished
  • Common Walls: 2+ Common Walls
  • Levels: Two
  • Price Per Square Foot: 312.98
  • Room Type: Living Room, Master Bathroom, Master Bedroom

Exterior Features

  • Pool Private: No

Garage/Parking

  • Garage Spaces: 13.00
  • Parking Features: Garage, Street, Uncovered
  • Total Parking Spaces: 17.00
  • Uncovered Spaces: 4.00

Utilities

  • Utilities: Cable Available, Electricity Connected, Natural Gas Connected, Phone Available, Sewer Connected, Water Connected
  • Heating: Yes
  • Laundry: Yes
  • Heating Type: Forced Air
  • Laundry Features: Community
  • Pest Control Expense: 1200.00
  • Sewer: Public Sewer
  • Trash Expense: 1924.00
  • Water Source: Public
  • Cooling: Wall/Window Unit(s)
  • Cooling: Yes

Condo/Co-op/Association

  • Senior Community: No
  • Common Interest: Community Apartment
  • Community Features: Curbs, Gutters, Park, Sidewalks

Lot Info

  • Additional Parcels: Yes
  • Additional Parcels Description: 7126-011-025, 7126-011-026
  • Land Lease: No
  • Lot Features: 11-15 Units/Acre
  • Lot Size Sq Ft: 17172.00
  • Lot Size Acres: 0.3942

Multi Family

  • Average1 Bed Area: 562 Square Feet
  • Average2 Bed Area: 810 Square Feet
  • Average Studio Area: 400 Square Feet
  • Electric Expense: 1924.00
  • Gross Income: 184920.00
  • Gross Multiplier: 12.95
  • Gross Operating Income: 179372.00
  • Gross Scheduled Income: 184920.00
  • Gross Spendable Income: 57448.00
  • Insurance Expense: 2348.00
  • Laundry Income: 1500.00
  • Lot Size Area: 17172.0000 Square Feet
  • Maintenance Expense: 12944.00
  • Maintenance Percent: 7.00
  • Net Operating Income: 116820.00
  • Number Of Separate Electric Meters: 12
  • Number Of Separate Gas Meters: 12
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 12
  • Operating Expense: 62553.00
  • Operating Expense Percent: 33.80
  • Other Expense: 2159.00
  • Other Expense Description: Assess.
  • Rent Control: No
  • Total Expenses: 62553.00
  • Vacancy Allowance Rate: 3.00

Tax Info

  • New Taxes Expense: 28978.00
  • Tax Block: 22
  • Tax Census Tract: 5703.03
  • Tax Lot: 33
  • Tax Tract Number: 5992

Range of Values:

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Value Increase
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Percent Increase
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Adjusted for Inflation
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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
04/28/2020 04/28/20 Sold $2,450,000 +2.3% $313 / Sq Ft
03/01/2020 03/01/20 Pending -- -- --
02/18/2020 02/18/20 For Sale $2,395,000 -- $306 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • P

    Seller's Agent in 2020

    Peter Gillin

    Morgan Skenderian

  • Doug Rodermund

    Buyer's Agent in 2020

    Doug Rodermund

    Morgan Skenderian

    (949) 295-8560

    34 Total Sales

    Doug Rodermund
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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PW20035737

California Regional Multiple Listing Service (CRMLS)
California Los Angeles County Long Beach 90805 Dairy

193 E Norton St, Long Beach, CA

Not Listed for Sale

MultiFamily

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California Regional Multiple Listing Service (CRMLS) The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.

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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