$1,275,000
SOLD SEP 21, 2022
6 Beds
6 Baths
2,016 Sq Ft
6,514 Sq Ft Lot

Recently Sold

$632 Per Sq Ft

86 Days on Market

Highlights

  • Gated Parking
  • Fireplace in Bathroom
  • Side by Side Parking
  • Long Beach Polytechnic High School Rated A
  • Ground Level Unit
  • 3-minute walk to Martin Luther King Jr Park

About This Home

As of September 2022

2024 Lemon Avenue presents an opportunity for a purchaser to follow the lead of the long-term ownership in a value-add apartment complex located in the "Poly High" neighborhood of Long Beach. As consistent management, renovations, and turnover has provided a steady increase in income - and the property currently features a rent-ready vacancy - a new investor can follow this strategy to continue adding value, raise revenue and improve operating efficiency.|6 Units Across 2 Structures - Built In 1922 - All 1 Bedroom + 1 Bathroom Units - 2,016 Gross Square Feet - Individually Metered for Electricity & Gas - Parking Lot In Rear - 5 Parking Spaces - Gated Access To Property - Corner Units (A, C, D, F) Remodeled in 2018-19 - 6,514 Square Foot Lot - LBR1N Zoning - One Vacancy As of 8/1/22.

Last Agent to Sell the Property

David Harrington

Matthews Real Estate Investment Services License #01320460 Listed on: 06/06/2022

Last Buyer's Agent

Marissa Mashburn

Marissa G. Mashburn, Broker License #01198531

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1922 | Remodeled

Lot Details

  • 6,514 Sq Ft Lot
  • Lot Dimensions are 50x130
  • East Facing Home
  • Gated Home
  • Back and Front Yard

Home Design

  • Bungalow

Interior Spaces

  • 2,016 Sq Ft Home
  • 1-Story Property
  • Gas Fireplace
  • Living Room with Fireplace
  • Dining Room with Fireplace

Kitchen

  • Oven
  • Range

Bedrooms and Bathrooms

  • 6 Bedrooms
  • Walk-In Closet
  • 6 Bathrooms
  • Fireplace in Bathroom

Parking

  • 5 Open Parking Spaces
  • 5 Parking Spaces
  • Side by Side Parking
  • Gated Parking

Location

  • Ground Level Unit

Utilities

  • Cooling System Mounted In Outer Wall Opening
  • Gas Water Heater

Community Details

  • 2 Buildings
  • 6 Units

Listing and Financial Details

  • Tenant pays for electricity, gas
  • The owner pays for water, gardener
  • Assessor Parcel Number 7210-027-011

Property Details

Home Type

Multi-Family

Year Built

Built in 1922 | Remodeled

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Style: Bungalow
  • Levels: Ground Level
  • Street Number Display: Yes
  • Additional Assessor Parcel Numbers: No
  • Alley: Yes
  • Entry Location: Ground Level - no steps
  • Living Area: 2016
  • Lot Acreage: 0.1495
  • Lot Dimensions: 50x130
  • Probate: No
  • Property Condition: Updated/Remodeled
  • Stories: 1
  • Year Built: 1922
  • Number Of Photos: 16
  • State Abbrv: CA
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Fireplace Rooms: Bath, Dining, Gas Starter, Gas, Living Room
  • Appliances: Range, Oven
  • Bedrooms: 6
  • Common Walls: Attached
  • Dining Room: 0
  • Family Room: 0
  • Total Bathrooms: 6.00
  • Den: 0
  • Equipment: Refrigerator, Range/Oven
  • Price Per S Q F T: 632.44

Exterior Features

  • Direction Faces: East
  • Other Structures: None
  • Tennis Court Y/N: No
  • Construction: Frame and Stucco
  • Pool: No
  • Spa Yn: No
  • View: No

Garage/Parking

  • Other Spaces: 5
  • Parking Garage: Uncovered, Side By Side, Gated
  • Total Parking: 5

Utilities

  • Water Heater: Gas
  • Cooling: Wall Unit(s)
  • Security: Gated
  • Water Heaters: Yes

Lot Info

  • Additions Alterations: No
  • Assessed Improvement Percent: 50.00
  • Assessed Improvement Value: 226498
  • Assessed Land Percent: 50
  • Assessed Land Value: 226498
  • Total Assessed Value: 452996
  • Assessor Parcel Number: 7210-027-011
  • Lot Description: Front Yard, Back Yard, Single Lot
  • Lot Size Area: 6514

Rental Info

  • Owner Pays: Water, Gardener
  • Tenant Pays: Electricity, Gas

Multi Family

  • Unit Type: 2106, 2107, 2108, 2109, 2110
  • Gross Rent Multiplier: 13.88
  • Number Of Units: 6
  • Total Annual Expense: 31058
  • Type Of Units: Standard
  • Vacancy Rate: 1

Tax Info

  • Private Transfer Taxes: No
  • Mello Roos: Unknown

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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

Property History

Date Event Price Change Sq Ft Price
09/21/2022 09/21/22 Sold $1,275,000 0.0% $632 / Sq Ft
08/31/2022 08/31/22 Pending -- -- --
06/06/2022 06/06/22 For Sale $1,275,000 +218.8% $632 / Sq Ft
12/14/2012 12/14/12 Sold $400,000 -2.2% $198 / Sq Ft
09/24/2012 09/24/12 Pending -- -- --
07/10/2012 07/10/12 For Sale $409,000 -- $203 / Sq Ft
Source: The MLS

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

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Map

Source: The MLS

MLS Number: 22-164893

The MLS