NOT LISTED FOR SALE

1961 Martin Luther King jr Ave Long Beach, CA 90806

Sunrise Neighborhood
8 Beds
4 Baths
6,000 Sq Ft
6,754 Sq Ft Lot

Last Sold December 16, 2013

Last sale price $810,000 $135 Per Sq Ft

26 Days on Market

Highlights

  • Custom Home
  • No HOA
  • Wood Fence
  • Long Beach Polytechnic High School Rated A
  • Laundry Room
  • 5-minute walk to Martin Luther King Jr Park

About This Home

As of December 2013

8 units- All 2bd/1ba units. Upper units have vaulted wood ceilings. Balcony style with grass area at side of building. The 2 front units have large windows in front & the upper front unit has a small balcony + 1 extra large bedroom. 5 parking places at the front. Lots of potential! The lot has a nice open feel. Church next door and single story on other side- Bright and open. Built in '63, 6000sq.ft. building on a 6743sqft lot.
Mostly a cosmetic fixer with some deferred maintenance. Has a laundry area but no machines. Units are nice size and all open onto the grass area.

Last Agent to Sell the Property

Louis Mannone

Realty One Group West License #00933588 Listed on: 10/25/2013

Realty One Group West

Last Buyer's Agent

Dara Chay

Sky View Real Estate License #01217793

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1963

Lot Details

  • 6,754 Sq Ft Lot
  • Two or More Common Walls
  • Wood Fence
  • Block Wall Fence
  • Density is up to 1 Unit/Acre

Parking

  • 5 Parking Spaces

Home Design

  • Custom Home
  • Property Attached
  • Slab Foundation
  • Composition Roof
  • Stucco

Interior Spaces

  • 6,000 Sq Ft Home
  • 2-Story Property
  • Laundry Room

Bedrooms and Bathrooms

  • 8 Bedrooms
  • 4 Bathrooms

Utilities

  • Wall Furnace

Listing and Financial Details

  • Tenant pays for electricity, gas
  • Tax Lot 10
  • Assessor Parcel Number 7210012014

Community Details

Overview

  • No Home Owners Association
  • 8 Units

Amenities

  • Laundry Facilities

Building Details

  • 3 Leased Units
  • 9 Separate Electric Meters
  • 9 Separate Gas Meters
  • 1 Separate Water Meter
  • Electric Expense $500
  • Gardener Expense $1,200
  • Insurance Expense $2,700
  • Maintenance Expense $7,560
  • Pest Control $520
  • Professional Management Expense $5,400
  • Water Sewer Expense $3,200
  • New Taxes Expense $10,500
  • Gross Income $7,618
  • Net Operating Income $54,849

Property Details

Home Type

Multi-Family

Year Built

Built in 1963

Lot Details

0

Listing Details

  • Assessments: Yes
  • Professional Management Expense: 5400.00
  • Property Attached: Yes
  • Water Sewer Expenses: 3200.00
  • Architectural Style: Custom Built
  • Property Type: Residential Income
  • Gardener Expense: 1200.00
  • Parcel Number: 7210012014
  • Year Built: 1963
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Stories: 2
  • Common Walls: 2+ Common Walls
  • Levels: Two
  • Price Per Square Foot: 135.00

Exterior Features

  • Foundation: Slab
  • Fencing: Block, Wood
  • Pool Private: No
  • Roof: Composition
  • Spa: No
  • Construction Materials: Stucco

Garage/Parking

  • Total Parking Spaces: 5.00

Utilities

  • Utilities: Sewer Connected, Sewer Available
  • Heating: Yes
  • Laundry: Yes
  • Heating Type: Wall Furnace
  • Laundry Features: Common Area, Community
  • Pest Control Expense: 520.00
  • Water Source: Public

Condo/Co-op/Association

  • Association: No
  • Community Features: Curbs, Sidewalks

Lot Info

  • Lot Features: 0-1 Unit/Acre
  • Lot Size Sq Ft: 6754.00
  • Lot Size Acres: 0.1550

Rental Info

  • Tenant Pays: Electricity, Gas

Multi Family

  • Electric Expense: 500.00
  • Gross Income: 7618.00
  • Gross Multiplier: 9.57
  • Gross Scheduled Income: 91416.00
  • Insurance Expense: 2700.00
  • Lot Size Area: 6754.0000 Square Feet
  • Maintenance Expense: 7560.00
  • Net Operating Income: 54849.00
  • Number Of Separate Electric Meters: 9
  • Number Of Separate Gas Meters: 9
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 3
  • Number Of Units Total: 8
  • Operating Expense: 32000.00
  • Operating Expense Percent: 35.00
  • Other Income Description: no machines
  • Rent Control: No
  • Vacancy Allowance Rate: 5.00

Tax Info

  • New Taxes Expense: 10500.00
  • Tax Lot: 10
  • Tax Year: 2012

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 List to Sale Price per Sq Ft
12/16/2013 12/16/13 Sold $810,000 -7.4% $135 / Sq Ft
11/20/2013 11/20/13 Pending -- -- --
10/25/2013 10/25/13 For Sale $875,000 -- $146 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PW13217779

California Regional Multiple Listing Service (CRMLS)