NOT LISTED FOR SALE

201 E 12th St Long Beach, CA 90813

Saint Mary's Neighborhood
3 Beds
3 Baths
18,380 Sq Ft
0.39 Acres

Last Sold July 19, 2022

Last sale price $7,650,000 $416 Per Sq Ft

10 Days on Market

Highlights

  • 0.39 Acre Lot
  • 2-minute walk to Anaheim Station
  • Laundry Room
  • Long Beach Polytechnic High School Rated A
  • Property is near public transit
  • Landscaped

About This Home

As of July 2022

The Twelfth Street Apartments are located in the City of Long Beach, a premier coastal downtown within Los Angeles County.

The subject property offers an attractive unit mix consisting of Studio’s, standard 1B/1B and 2B/1B units, and large 1B/1B and 2B/1B units totaling
18,380 square feet. This 28-unit property is situated over two contiguous parcels totaling 17,008 square feet and is located within a dense urban
neighborhood known for its historic culture and accessibility to the heart of Downtown Long Beach.

This pride-of-ownership asset has been beautifully manicured and recently renovated to include new exterior paint, new garage doors, new windows,
upgraded courtyard, stucco, and front entry wood siding. Common area amenities include but are not limited to: secured and gated front/rear
entrances, courtyard with artificial turf, ambient lighting, planter beds, and outdoor furniture, two on-site laundry facilities, and four enclosed garages
and 9 open parking spaces.

Having been professionally managed and meticulously improved, this asset offers a buyer the opportunity to cash flow from day one while also providing continued growth and rental demand within the historic “Wilmore City” district. The Twelfth Street Apartments are well suited to
provide investors with strong returns and value appreciation over the long-term investment horizon.

Last Agent to Sell the Property

Greg Bassirpou

Marcus & Millichap RE Invest License #01365951 Listed on: 05/16/2022

Last Buyer's Agent

Jon Swire

The Agency License #01336277

The Agency

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1954

Lot Details

  • 0.39 Acre Lot
  • No Common Walls
  • Landscaped
  • 7273003010

Parking

  • 9 Open Parking Spaces
  • 4 Car Garage

Interior Spaces

  • 18,380 Sq Ft Home
  • 2-Story Property
  • Laundry Room

Bedrooms and Bathrooms

  • 3 Bedrooms
  • 3 Bathrooms

Additional Features

  • Exterior Lighting
  • Property is near public transit

Listing and Financial Details

  • Legal Lot and Block 7 / B
  • Tax Tract Number 11934
  • Assessor Parcel Number 7273003007

Community Details

Overview

  • 2 Buildings
  • 28 Units

Amenities

  • Laundry Facilities

Building Details

  • Rent Control
  • 28 Separate Electric Meters
  • 28 Separate Gas Meters
  • 2 Separate Water Meters
  • Electric Expense $5,566
  • Fuel Expense $5,566
  • Insurance Expense $6,410
  • Professional Management Expense $15,000
  • Trash Expense $5,566
  • Water Sewer Expense $5,566
  • New Taxes Expense $101,350
  • Operating Expense $187,502
  • Gross Income $522,456
  • Net Operating Income $324,505

Property Details

Home Type

Multi-Family

Year Built

Built in 1954

Lot Details

0

Parking

4

Listing Details

  • CapRate: 4.20
  • Professional Management Expense: 15000.00
  • Property Attached: No
  • Water Sewer Expenses: 5565.50
  • Zoning: LBPD29
  • Property Type: Residential Income
  • Parcel Number: 7273003007
  • Year Built: 1954
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Stories: 2
  • Common Walls: No Common Walls
  • Levels: Two
  • Price Per Square Foot: 416.21

Exterior Features

  • Pool Private: No

Garage/Parking

  • Garage Spaces: 4.00
  • Total Parking Spaces: 13.00
  • Uncovered Spaces: 9.00

Utilities

  • Laundry: Yes
  • Laundry Features: Common Area
  • Sewer: Public Sewer
  • Trash Expense: 5565.50
  • Water Source: Public

Condo/Co-op/Association

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

Lot Info

  • Additional Parcels: Yes
  • Additional Parcels Description: 7273003010
  • Land Lease: No
  • Lot Features: Landscaped, Near Public Transit
  • Lot Size Sq Ft: 17008.00
  • Lot Size Acres: 0.3904

Multi Family

  • Electric Expense: 5565.50
  • Fuel Expense: 5565.50
  • Gross Income: 522456.00
  • Gross Multiplier: 14.83
  • Gross Operating Income: 522456.00
  • Gross Scheduled Income: 515256.00
  • Insurance Expense: 6410.00
  • Laundry Income: 7200.00
  • Lot Size Area: 17008.0000 Square Feet
  • Net Operating Income: 324505.00
  • Number Of Separate Electric Meters: 28
  • Number Of Separate Gas Meters: 28
  • Number Of Separate Water Meters: 2
  • Number Of Units Total: 28
  • Operating Expense: 187502.00
  • Rent Control: Yes
  • Total Expenses: 187502.00
  • Vacancy Allowance Rate: 2.00

Tax Info

  • New Taxes Expense: 101350.00
  • Tax Block: B
  • Tax Census Tract: 5763.01
  • Tax Lot: 7
  • Tax Tract Number: 11934

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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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

Property History

Date Event Price List to Sale Price per Sq Ft Prior Sale
07/19/2022 07/19/22 Sold $7,650,000 -1.3% $416 / Sq Ft
05/26/2022 05/26/22 Pending -- -- --
05/16/2022 05/16/22 For Sale $7,750,000 +15.7% $422 / Sq Ft
04/07/2021 04/07/21 Sold $6,700,000 -4.3% $365 / Sq Ft View Prior Sale
01/28/2021 01/28/21 Pending -- -- --
10/26/2020 10/26/20 For Sale $7,000,000 -- $382 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Greg Bassirpou

    Seller's Agent in 2022

    Greg Bassirpou

    Marcus & Millichap RE Invest

    (949) 419-3269

    1 in this area

    30 Total Sales

    Greg Bassirpou
    Section Image
  • Jon Swire

    Buyer's Agent in 2022

    Jon Swire

    The Agency

    (310) 948-2631

    2 in this area

    34 Total Sales

    Jon Swire
    Section Image
  • George Felix

    Seller's Agent in 2021

    George Felix

    CB Richard Ellis, Inc.

    (714) 926-2202

    1 in this area

    44 Total Sales

    George Felix
    Section Image
  • Daniel Blackwell

    Seller Co-Listing Agent in 2021

    Daniel Blackwell

    CB Richard Ellis, Inc.

    (949) 423-6111

    1 in this area

    51 Total Sales

    Daniel Blackwell
    Section Image
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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: OC22102844

California Regional Multiple Listing Service (CRMLS)
California Los Angeles County Long Beach 90813 Saint Mary's

201 E 12th 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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