$1,039,150
SOLD OCT 31, 2024
4 Beds
2 Baths
3,108 Sq Ft
6,741 Sq Ft Lot

Recently Sold

$334 Per Sq Ft

20% Below List Price

117 Days on Market

Highlights

  • No HOA
  • Neighborhood Views
  • 4 Car Garage
  • Long Beach Polytechnic High School Rated A
  • Landscaped
  • Wall Furnace

About This Home

As of October 2024

Investors, welcome to 1961-1967 Pine Ave. Come find this charming 4-Unit low-maintenance property, ideal for both new investors and seasoned investors adding to their real estate portfolio. 4 homes, each with 2-bedrooms, 1-bath, patios, separately metered for electricity and gas, allowing tenants to pay their own expenses. Each home is complimented with 1 of the 4 single-car garages. Adorable patio areas. The property is 100% fully rented, housing very long-term tenants. Located in vibrant Wrigley, moments from Blue Line Train, Long Beach Memorial Hospital, and tons of Shopping along Pacific Ave. You’re going to love this one.

Last Agent to Sell the Property

Jules Ayora

Seven Gables Real Estate Brokerage Phone: 562-394-7000 License #01274567 Listed on: 06/11/2024

Last Buyer's Agent

NoEmail NoEmail

None MRML License #N/A

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $7,652

Year Built

  • Built in 1941

Lot Details

  • 6,741 Sq Ft Lot
  • Two or More Common Walls
  • Landscaped
  • Density is up to 1 Unit/Acre

Parking

  • 4 Car Garage
  • Parking Available
  • Rear-Facing Garage

Home Design

  • Quadruplex

Interior Spaces

  • 3,108 Sq Ft Home
  • 1-Story Property
  • Neighborhood Views

Bedrooms and Bathrooms

  • 4 Bedrooms
  • 2 Bathrooms

Utilities

  • Wall Furnace
  • Natural Gas Connected

Additional Features

  • Exterior Lighting
  • Suburban Location

Listing and Financial Details

  • Tenant pays for electricity, gas
  • Legal Lot and Block 6 / A
  • Assessor Parcel Number 7209020007
  • $851 per year additional tax assessments

Community Details

Overview

  • No Home Owners Association
  • 2 Buildings
  • 4 Units
  • Wrigley Area Subdivision

Building Details

  • 4 Leased Units
  • Rent Control
  • 4 Separate Electric Meters
  • 4 Separate Gas Meters
  • 1 Separate Water Meter
  • Gardener Expense $960
  • Insurance Expense $1,692
  • Water Sewer Expense $2,400
  • New Taxes Expense $16,250
  • Operating Expense $6,677
  • Gross Income $73,200
  • Net Operating Income $66,523

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$7,652

Year Built

Built in 1941

Lot Details

0

Parking

4

Listing Details

  • Price Per Unit: 275000
  • Property Attached: Yes
  • Subdivision Name Other: Wrigley Area (WR)
  • View: Yes
  • Water Sewer Expenses: 2400.00
  • Zoning: LBR4R
  • Property Sub Type: Quadruplex
  • Property Type: Residential Income
  • Gardener Expense: 960.00
  • Parcel Number: 7209020007
  • Year Built: 1941
  • Special Features: None

Interior Features

  • Fireplace: No
  • Stories: 1
  • Entry Location: Entry
  • Common Walls: 2+ Common Walls
  • Entry Level: 1
  • Levels: One
  • Price Per Square Foot: 334.35

Exterior Features

  • View: Neighborhood
  • Pool Private: No
  • Spa: No

Garage/Parking

  • Garage Spaces: 4.00
  • Parking: Yes
  • Parking Features: Garage, Garage Faces Rear
  • Total Parking Spaces: 4.00

Utilities

  • Utilities: Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
  • Heating: Yes
  • Laundry: No
  • Electric: Electricity - On Property
  • Heating Type: Wall Furnace
  • Sewer: Public Sewer
  • Water Source: Public

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Community Features: Sidewalks, Street Lights, Suburban

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: 0-1 Unit/Acre, Landscaped
  • Lot Size Sq Ft: 6741.00
  • Lot Size Acres: 0.1548

Rental Info

  • Tenant Pays: Electricity, Gas

Multi Family

  • Gross Operating Income: 73200.00
  • Gross Scheduled Income: 73200.00
  • Insurance Expense: 1692.00
  • Lot Size Area: 6741.0000 Square Feet
  • Net Operating Income: 66523.00
  • Number Of Separate Electric Meters: 4
  • Number Of Separate Gas Meters: 4
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 4
  • Number Of Units Total: 4
  • Operating Expense: 6677.00
  • Rent Control: Yes
  • Total Actual Rent: 73200.00
  • Total Expenses: 6677.00

Tax Info

  • New Taxes Expense: 16250.00
  • Tax Block: A
  • Tax Census Tract: 5730.02
  • Tax Lot: 6
  • TaxOtherAnnualAssessmentAmount: 851.00

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jun 11, 2024
Closed on
Oct 11, 2024
Sold by
Williams David E and Williams Miriam E
Bought by
Jeta Ventures Llc
Seller's Agent
Jules Ayora
Seven Gables Real Estate
Buyer's Agent
NoEmail NoEmail
None MRML
List Price
$1,300,000
Sold Price
$1,039,150
Premium/Discount to List
-$260,850
-20.07%
Total Days on Market
117
Views
20
Current Estimated Value
$1,047,300

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$8,150
Avg. Annual Appreciation
0.08%

Purchase Details

Closed on
May 28, 2016
Sold by
Williams David R
Bought by
Williams David E and Williams Miriam E

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$460,000
Interest Rate
3.25%
Mortgage Type
Adjustable Rate Mortgage/ARM

Purchase Details

Closed on
Apr 2, 2003
Sold by
Stanley Amanda J
Bought by
Williams David E

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$288,000
Interest Rate
5.71%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
Nov 1, 2002
Sold by
Oflynn Lois M
Bought by
Henry Wade E and Henry Deena J

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$140,000
Interest Rate
5.88%

Purchase Details

Closed on
Oct 5, 2000
Sold by
U S Bank Trust National Assn
Bought by
Stanley Amanda J

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$134,000
Interest Rate
9%

Purchase Details

Closed on
Aug 25, 2000
Sold by
Quinta Linda Z and Rodriguez Rigoberto
Bought by
New Century Home Equity Loan Tr Series 1

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$134,000
Interest Rate
9%

Purchase Details

Closed on
Feb 11, 1998
Sold by
Rodriguez Pedro
Bought by
Quinta Linda Z and Rodriguez Rigoberto

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$256,000
Interest Rate
9.99%

Purchase Details

Closed on
Aug 15, 1997
Sold by
Federal Home Loan Mortgage Corporation
Bought by
Rodriguez Pedro

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$145,000
Interest Rate
7.45%

Purchase Details

Closed on
May 20, 1997
Sold by
Ponce Jesus G and Federal Home Loan Mortgage Cor
Bought by
Federal Home Loan Mortgage Corporation
Source: Public Records

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Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Purchase History

Date Type Sale Price Title Company
Grant Deed $1,039,500 Ticor Title
Interfamily Deed Transfer -- Ticor Title
Grant Deed $385,000 Commonwealth Land Title Co
Interfamily Deed Transfer -- Commonwealth Land Title Co
Grant Deed $100,000 Ticor Title
Grant Deed $178,000 United Title
Trustee Deed $180,000 Fidelity National Title
Grant Deed $320,000 First American Title
Corporate Deed $137,000 First American Title
Trustee Deed $175,000 Stewart Title
Source: Public Records

Mortgage History

Date Status Loan Amount Loan Type
Previous Owner $460,000 New Conventional
Previous Owner $460,000 Adjustable Rate Mortgage/ARM
Previous Owner $44,995 Construction
Previous Owner $400,000 Unknown
Previous Owner $340,000 Unknown
Previous Owner $288,000 Purchase Money Mortgage
Previous Owner $140,000 No Value Available
Previous Owner $134,000 No Value Available
Previous Owner $256,000 No Value Available
Previous Owner $145,000 No Value Available
Closed $32,000 No Value Available
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
10/31/2024 10/31/24 Sold $1,039,150 -5.5% $334 / Sq Ft
10/06/2024 10/06/24 Pending -- -- --
09/07/2024 09/07/24 Price Changed $1,100,000 -15.4% $354 / Sq Ft
06/11/2024 06/11/24 For Sale $1,300,000 -- $418 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

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 $7,652 $1,039,150 $439,150 $600,000
2024 $7,652 $546,654 $269,777 $276,877
2023 $7,519 $535,937 $264,488 $271,449
2022 $7,074 $525,429 $259,302 $266,127
2021 $6,916 $515,127 $254,218 $260,909
2019 $6,818 $499,850 $246,679 $253,171
2018 $6,587 $490,050 $241,843 $248,207
2017 $6,517 $480,442 $237,101 $243,341
2016 $6,056 $471,022 $232,452 $238,570
2015 $5,822 $463,948 $228,961 $234,987
2014 $5,849 $454,860 $224,476 $230,384
Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PW24119032

California Regional Multiple Listing Service (CRMLS)

APN: 7209-020-007