NOT LISTED FOR SALE

2009 Pine Ave Long Beach, CA 90806

Southeast Wrigley Neighborhood

Estimated Value: $770,606 - $1,215,000

10 Beds
10 Baths
6,148 Sq Ft
$146/Sq Ft Est. Value

Last Sold October 09, 2020

Last sale price $1,950,000 $317 Per Sq Ft

Current estimated payment $5,305/month

126 Days on Market

About This Home

As of October 2020

This 9 unit building offers an investor the opportunity to acquire a great asset in the highly desirable Wrigley area of Long Beach. Proforma 5.7% CAP. The property is comprised of two buildings with different APN numbers situated on one lot encompassing a gross area of approximately 7,449 square feet. There are 8 one bedroom units averaging 650 Sq Ft and 1 two bedroom/two bathroom town home unit.The exterior of the building as well as all of the unit interiors have been remodeled. The exterior has received all new paint and landscaping and the interiors have been upgraded with new counter tops, fixtures, flooring and paint. Updated electric and mostly copper plumbing throughout (Buyer to verify), including 8 new water heaters. There are also 4 garages onsite (3 are rented for $300 total) and there is a beautifully landscaped garden style courtyard. A 5 year fixed at 3.6% with 3 years of I/O at 30% down may be available. EMAIL LISTING AGENT FOR MORE INFO AND A RENT ROLL.

Last Agent to Sell the Property

Jon Swire

The Agency License #01336277 Listed on: 03/13/2020

The Agency

Last Buyer's Agent

Anthony Walker

License #01908153

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1949

Lot Details

  • 7,500

Parking

  • 4 Car Attached Garage

Home Design

  • 6,148 Sq Ft Home

Bedrooms and Bathrooms

  • 10 Bedrooms
  • 10 Bathrooms

Additional Features

  • 7,500 Sq Ft Lot
  • Heating System Mounted To A Wall or Window

Community Details

  • 2 Buildings
  • 9 Units

Listing and Financial Details

  • Assessor Parcel Number 7209-019-023

Property Details

Home Type

Multi-Family

Year Built

Built in 1949

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Street Number Display: Yes
  • Additional Assessor Parcel Numbers: Yes
  • Living Area: 6148
  • Year Built: 1949
  • State Abbrv: CA
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Stories: 0

Interior Features

  • Bedrooms: 10
  • Total Bathrooms: 10.00
  • Price Per S Q F T: 325.15

Exterior Features

  • Other Structures: None

Garage/Parking

  • Parking Garage: Garage Is Attached
  • Total Parking: 4

Utilities

  • Heating: Wall Gas

Lot Info

  • Assessed Improvement Value: 253980
  • Assessed Land Value: 204000
  • Assessor Parcel Number: 7209-019-023
  • Geocode Override: No
  • Lot Size Area: 7500

Multi Family

  • Unit Type: 2106, 2107
  • Gross Rent Multiplier: 13.70
  • Number Of Units: 9
  • Type Of Units: Income

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Mar 13, 2020
Closed on
Sep 14, 2020
Sold by
Kalliste Llc
Bought by
Lb5 Pine Llc
Seller's Agent
Jon Swire
The Agency
Buyer's Agent
Anthony Walker
List Price
$2,049,000
Sold Price
$1,950,000
Premium/Discount to List
-$99,000
-4.83%
Current Estimated Value
$898,902

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
-$1,051,098
Avg. Annual Appreciation
-13.84%
Original Mortgage
$1,232,000
Outstanding Balance
$1,093,319
Interest Rate
2.9%
Mortgage Type
Commercial
Estimated Equity
-$194,417

Purchase Details

Closed on
Feb 12, 2015
Sold by
2009 Pine Avenue Llc
Bought by
2009 Pine Ave Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$787,500
Interest Rate
3.71%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
Aug 6, 2012
Sold by
2009 Pine Avenue Llc
Bought by
2009 Pine Avenue Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$588,500
Interest Rate
3.5%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
Feb 18, 2010
Sold by
Hearthstone Community Foundation Inc
Bought by
2009 Pine Avenue Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$476,000
Interest Rate
5.03%
Mortgage Type
Seller Take Back
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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Average Value
Not Available
List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Lb5 Pine Llc $1,950,000 Fidelity National Title
2009 Pine Ave Llc $1,040,000 Ticor Title Company
2009 Pine Avenue Llc -- Old Republic Title Co
2009 Pine Avenue Llc $700,000 Orange Coast Title Company O
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Lb5 Pine Llc $1,232,000
Previous Owner 2009 Pine Ave Llc $787,500
Previous Owner 2009 Pine Avenue Llc $588,500
Previous Owner 2009 Pine Avenue Llc $476,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
10/09/2020 10/09/20 Sold $1,950,000 -2.5% $317 / Sq Ft
07/17/2020 07/17/20 Pending -- -- --
06/30/2020 06/30/20 Price Changed $1,999,000 -2.4% $325 / Sq Ft
03/13/2020 03/13/20 For Sale $2,049,000 -- $333 / Sq Ft
Source: The MLS

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 $6,970 $541,214 $216,485 $324,729
2024 $6,970 $530,603 $212,241 $318,362
2023 $6,851 $520,200 $208,080 $312,120
2022 $6,431 $510,000 $204,000 $306,000
2021 $6,303 $500,000 $200,000 $300,000
2020 $6,180 $486,009 $216,485 $269,524
2019 $6,108 $476,481 $212,241 $264,240
2018 $5,936 $467,139 $208,080 $259,059
2016 $3,325 $263,965 $101,525 $162,440
2015 $3,290 $268,503 $107,401 $161,102
2014 $3,274 $263,245 $105,298 $157,947
Source: Public Records

Agents Affiliated with this Home

  • Jon Swire

    Seller's Agent in 2020

    Jon Swire

    The Agency

    (310) 948-2631

    2 in this area

    34 Total Sales

    Jon Swire
    Section Image

  • A

    Buyer's Agent in 2020

    Anthony Walker

  • Daniel Stevenson

    Buyer Co-Listing Agent in 2020

    Daniel Stevenson

    The Agency

    (646) 884-2928

    54 Total Sales

    Daniel Stevenson
    Section Image
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Map

Source: The MLS

MLS Number: 20-563672

The MLS

APN: 7209-019-023

California Los Angeles County Long Beach 90806 Southeast Wrigley

2009 Pine Ave, Long Beach, CA

Not Listed for Sale

MultiFamily

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