NOT LISTED FOR SALE

1955 Locust Ave Long Beach, CA 90806

Southeast Wrigley Neighborhood
4 Beds
3 Baths
7,079 Sq Ft
6,753 Sq Ft Lot

Last Sold September 20, 2019

Last sale price $2,000,000 $283 Per Sq Ft

39 Days on Market

Highlights

  • Laundry Room
  • Long Beach Polytechnic High School Rated A
  • Level Lot

About This Home

As of September 2019

Excellent 10 Unit Building with a Great Mix of 8 One Bedrooms, 2 Two Bedrooms and Eight Garages. Gated Building with an On-site Laundry Room for additional income. Nice Wrigley Location in a Great Rental Area. 100% Occupied. NO RENT CONTROL AREA! Current Rents About 15% Below Market, so Lots of Room to Increase Rents. About 12.7 GRM at Market Rents! All Units Clean Inside with Island Kitchens.

Last Agent to Sell the Property

Cris Molles

The Realestate Group License #01345419 Listed on: 06/14/2019

The Realestate Group

Last Buyer's Agent

Jon Swire

The Agency License #01336277

The Agency

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1962

Lot Details

  • 6,753 Sq Ft Lot
  • Two or More Common Walls
  • Level Lot

Parking

  • 8 Car Garage

Home Design

  • 7,079 Sq Ft Home
  • Property Attached

Bedrooms and Bathrooms

  • 4 Bedrooms
  • 3 Bathrooms

Laundry

  • Laundry Room

Outdoor Features

  • Exterior Lighting
  • Rain Gutters

Listing and Financial Details

  • Tenant pays for electricity, gas
  • Legal Lot and Block 10 / B
  • Tax Tract Number 13
  • Assessor Parcel Number 7209017013

Community Details

Building Details

  • 10 Leased Units
  • 10 Separate Electric Meters
  • 10 Separate Gas Meters
  • 1 Separate Water Meter
  • Electric Expense $5,938
  • Insurance Expense $2,916
  • Maintenance Expense $2,613
  • Pest Control $660
  • Professional Management Expense $5,320
  • New Taxes Expense $24,600
  • Operating Expense $42,567
  • Gross Income $136,500
  • Net Operating Income $94,113

Additional Features

  • 10 Units
  • Laundry Facilities

Property Details

Home Type

Multi-Family

Year Built

Built in 1962

Lot Details

0

Parking

8

Listing Details

  • Professional Management Expense: 5320.00
  • Property Attached: Yes
  • Subdivision Name Other: Wrigley
  • Zoning: LBR4R
  • Property Type: Residential Income
  • Parcel Number: 7209017013
  • Year Built: 1962
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Common Walls: 2+ Common Walls
  • Price Per Square Foot: 282.53

Exterior Features

  • Pool Private: No

Garage/Parking

  • Garage Spaces: 8.00
  • Total Parking Spaces: 8.00

Utilities

  • Laundry: Yes
  • Laundry Features: Common Area
  • Pest Control Expense: 660.00
  • Sewer: Public Sewer
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No
  • Community Features: Curbs, Gutters, Sidewalks, Street Lights

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: Level with Street
  • Lot Size Sq Ft: 6753.00
  • Lot Size Acres: 0.1550

Rental Info

  • Tenant Pays: Electricity, Gas

Multi Family

  • Electric Expense: 5938.00
  • Gross Income: 136500.00
  • Gross Multiplier: 14.99
  • Gross Operating Income: 133907.00
  • Gross Scheduled Income: 136680.00
  • Insurance Expense: 2916.00
  • Laundry Income: 90.00
  • Lot Size Area: 6753.0000 Square Feet
  • Maintenance Expense: 2613.00
  • Maintenance Percent: 2.00
  • Net Operating Income: 94113.00
  • Number Of Separate Electric Meters: 10
  • Number Of Separate Gas Meters: 10
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 10
  • Number Of Units Total: 10
  • Number With Disposal: 10
  • Number With Range: 10
  • Operating Expense: 42567.00
  • Operating Expense Percent: 31.00
  • Rent Control: No
  • Total Actual Rent: 11300.00
  • Total Expenses: 42567.00
  • Vacancy Allowance Rate: 2.00

Tax Info

  • New Taxes Expense: 24600.00
  • Tax Block: B
  • Tax Census Tract: 5730.02
  • Tax Lot: 10
  • Tax Tract Number: 013

Range of Values:

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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 Change Sq Ft Price
09/20/2019 09/20/19 Sold $2,000,000 -2.4% $283 / Sq Ft
07/23/2019 07/23/19 Pending -- -- --
06/14/2019 06/14/19 For Sale $2,050,000 -- $290 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • C

    Seller's Agent in 2019

    Cris Molles

    The Realestate Group

    (310) 540-0072

    5 Total Sales

    Cris Molles
    Section Image
  • Jon Swire

    Buyer's Agent in 2019

    Jon Swire

    The Agency

    (310) 948-2631

    3 in this area

    32 Total Sales

    Jon Swire
    Section Image
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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: SB19147040

California Regional Multiple Listing Service (CRMLS)
California Los Angeles County Long Beach 90806 Southeast Wrigley

1955 Locust Ave, Long Beach, CA

This home is located at 1955 Locust Ave, Long Beach, CA 90806 since 14 June 2019. This property was built in 1962. 1955 Locust Ave is a home located in Los Angeles County with nearby schools including Jackie Robinson Academy, Long Beach Polytechnic High School, and We the People High School.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

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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