NOT LISTED FOR SALE

2035 Lemon Ave Long Beach, CA 90806

Sunrise Neighborhood
6 Beds
6 Baths
3,700 Sq Ft
6,515 Sq Ft Lot

Last Sold May 25, 2021

Last sale price $1,115,000 $301 Per Sq Ft

17 Days on Market

Highlights

  • Wood Flooring
  • Granite Countertops
  • Laundry Room
  • Long Beach Polytechnic High School Rated A
  • Living Room
  • 3-minute walk to Martin Luther King Jr Park

About This Home

As of May 2021

Well maintained 5-units income property located on a nice residential street. Great mix comprised of a spacious (1) 2bed/2ba 1510 SF house built in 1919 and (4) 1bed/1ba apartment building built in 1960. House has formal Living, Dining and Family Rooms, open Kitchen with granite countertops, direct access to 1 car garage. Periodic updates for house include central air, hardwood and tile floors, newer roof and windows. The four apartment units each has formal living room, spacious bedroom, and kitchen with dining area. Two of the units recently remodeled with new kitchens, granite counters and cabinets, bathrooms with new fixtures, new water heaters and laminate flooring. Each unit is individually metered for electricity and gas. Backyard has new wrought iron gate. 1 car garage plus two parking spaces in rear, additional parking in the driveway and street parking. All units are rented with tenants paying full rent. Low operating expenses with upside rent to achieve more income and additional value. 4.63% CAP at current rents, 6.31% CAP with pro forma rents. Fantastic turnkey investment opportunity. Buyer to conduct own due diligence. Please do not disturb tenants.

Last Agent to Sell the Property

Eva Wong

Pegasus Financial Inc. License #00828257 Listed on: 02/28/2021

Co-Listed By

Nancy Eng

Pegasus Financial Inc. License #01228296

Last Buyer's Agent

Maria Sarmiento

Keller Williams Sierra Madre License #01837686

Keller Williams Sierra Madre

Property Details

Home Type

  • Apartment

Est. Annual Taxes

  • $12,200

Year Built

  • Built in 1960

Lot Details

  • 6,515 Sq Ft Lot
  • No Common Walls
  • Block Wall Fence
  • Front Yard

Parking

  • 2 Open Parking Spaces
  • 1 Car Garage

Home Design

  • Turnkey

Interior Spaces

  • 3,700 Sq Ft Home
  • Living Room
  • Laundry Room

Kitchen

  • Free-Standing Range
  • Range Hood
  • Granite Countertops
  • Disposal

Flooring

  • Wood
  • Carpet
  • Laminate
  • Tile

Bedrooms and Bathrooms

  • 6 Bedrooms
  • 6 Bathrooms

Utilities

  • Natural Gas Connected
  • Water Heater

Listing and Financial Details

  • Tenant pays for electricity, gas
  • Legal Lot and Block 18 / B
  • Tax Tract Number 5500
  • Assessor Parcel Number 7210022020

Community Details

Overview

  • 2 Buildings
  • 5 Units

Building Details

  • 5 Separate Electric Meters
  • 5 Separate Gas Meters
  • 1 Separate Water Meter
  • Gardener Expense $960
  • Insurance Expense $1,970
  • Maintenance Expense $2,649
  • Professional Management Expense $3,705
  • Water Sewer Expense $2,375
  • Operating Expense $24,124
  • Gross Income $75,000
  • Net Operating Income $50,876

Property Details

Home Type

Apartment

Est. Annual Taxes

$12,200

Year Built

Built in 1960

Lot Details

0

Parking

1

Listing Details

  • Assessments: Yes
  • CapRate: 4.63
  • Professional Management Expense: 3705.00
  • Property Attached: No
  • Road Frontage Type: City Street
  • Road Surface Type: Maintained, Paved
  • Water Sewer Expenses: 2375.00
  • Zoning: LBR1N
  • Property Condition: Turnkey
  • Property Sub Type: Apartment
  • Property Type: Residential Income
  • Gardener Expense: 960.00
  • Parcel Number: 7210022020
  • Year Built: 1960
  • Special Features: None

Interior Features

  • Interior Amenities: Granite Counters
  • Common Walls: No Common Walls
  • Flooring: Carpet, Laminate, Tile, Wood
  • Appliances: Yes
  • Price Per Square Foot: 301.35
  • Room Type: Kitchen, Living Room

Exterior Features

  • Fence: Yes
  • Fencing: Block
  • Pool Private: No

Garage/Parking

  • Garage Spaces: 1.00
  • Total Parking Spaces: 3.00
  • Uncovered Spaces: 2.00

Utilities

  • Utilities: Electricity Connected, Natural Gas Connected, Water Connected
  • Laundry: Yes
  • Appliances: Free-Standing Range, Disposal, Range Hood, Water Heater
  • Laundry Features: Individual Room
  • Sewer: Public Sewer
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No
  • Community Features: Sidewalks

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: Front Yard, Lot 6500-9999
  • Lot Size Sq Ft: 6515.00
  • Lot Size Acres: 0.1496

Rental Info

  • Tenant Pays: Electricity, Gas

Multi Family

  • Gross Income: 75000.00
  • Gross Multiplier: 14.64
  • Gross Scheduled Income: 75000.00
  • Insurance Expense: 1970.00
  • Lot Size Area: 6515.0000 Square Feet
  • Maintenance Expense: 2649.00
  • Net Operating Income: 50876.00
  • Number Of Separate Electric Meters: 5
  • Number Of Separate Gas Meters: 5
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 5
  • Operating Expense: 24124.00
  • Operating Expense Percent: 32.00
  • Rent Control: No
  • Total Expenses: 24124.00

Tax Info

  • Tax Area: 5500
  • Tax Block: B
  • Tax Census Tract: 5733.00
  • Tax Lot: 18
  • Tax Tract Number: 5500
  • Tax Annual Amount: 12200.00
  • Tax Year: 2020

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
05/25/2021 05/25/21 Sold $1,115,000 +1.5% $301 / Sq Ft
03/17/2021 03/17/21 Pending -- -- --
02/28/2021 02/28/21 For Sale $1,098,000 +21.1% $297 / Sq Ft
08/02/2017 08/02/17 Sold $907,000 +0.9% $245 / Sq Ft
05/24/2017 05/24/17 For Sale $899,000 -- $243 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • E

    Seller's Agent in 2021

    Eva Wong

    Pegasus Financial Inc.

    Section Image

  • N

    Seller Co-Listing Agent in 2021

    Nancy Eng

    Pegasus Financial Inc.

    (626) 286-6200

    1 in this area

    4 Total Sales

    Section Image
  • Maria Sarmiento

    Buyer's Agent in 2021

    Maria Sarmiento

    Keller Williams Sierra Madre

    (833) 832-6770

    1 in this area

    165 Total Sales

    Section Image
  • Martin Watkins

    Seller's Agent in 2017

    Martin Watkins

    Watkins Realty & Investments

    (310) 901-9356

    1 in this area

    17 Total Sales

    Section Image

  • S

    Buyer's Agent in 2017

    Subscriber Non

    Non-Participant Office

See All Agents

Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: TR21037882

California Regional Multiple Listing Service (CRMLS)

California Los Angeles County Long Beach 90806 Sunrise

2035 Lemon Ave, Long Beach, CA

This home is located at 2035 Lemon Ave, Long Beach, CA 90806 since 28 February 2021. This property was built in 1960. 2035 Lemon Ave is a home located in Los Angeles County with nearby schools including Signal Hill Elementary School, Nelson Academy, and Long Beach Polytechnic High School.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

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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