NOT LISTED FOR SALE

2040 E Florida St Long Beach, CA 90814

North Alamitos Beach Neighborhood
10 Beds
9 Baths
5,362 Sq Ft
6,514 Sq Ft Lot

Last Sold March 09, 2015

Last sale price $1,350,000 $252 Per Sq Ft

305 Days on Market

Highlights

  • 0.15 Acre Lot
  • No HOA
  • Floor Furnace
  • Woodrow Wilson High School Rated A
  • Laundry Room
  • Turnkey

About This Home

As of March 2015

AMAZING LOCATION!!! Alamitos Beach/Carroll Park! 1972 construction building with no deferred maintenance. Perfect unit mix: 1 - 3 bedroom/2 bath, 1- 2 bedroom/2 bath, 6 - 1 bedroom/1 bath. Building runs smoothly w/long term tenants. Vacancies are rare. DEFINITE Upside in Rents - no rent control in Long Beach! Separately metered for electric and units have individual hot water heaters (to keep expenses low). 4 garages and 8 parking spaces. Laundry room w/ seller's own machines. This building would be perfect to add to your investment portfolio! Income Actual, Expenses are Estimated. Proforma info: Market rent on 1 Bedrooms = $1095. Market rent on 2 Bedroom/ 2 Bath = $1350. Market rent on 3 Bedroom/ 2 Bath = $1500. Proforma rent = $9745/mo - $116,940/yr. Proforma Cap = 5.76% - GRM = 13.04

Last Agent to Sell the Property

Julie Hughes

Realty One Group Homelink License #01360644 Listed on: 04/09/2014

Realty One Group Homelink

Last Buyer's Agent

Julie Hughes

Realty One Group Homelink License #01360644 Listed on: 04/09/2014

Realty One Group Homelink

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1972 | Remodeled

Lot Details

  • 6,514 Sq Ft Lot
  • Property fronts an alley
  • Two or More Common Walls

Parking

  • 4 Car Garage
  • Parking Available
  • Assigned Parking

Home Design

  • Property Attached
  • Entry on the 1st floor
  • Turnkey

Interior Spaces

  • 5,362 Sq Ft Home
  • 2-Story Property
  • Carpet
  • Laundry Room

Bedrooms and Bathrooms

  • 10 Bedrooms
  • 9 Bathrooms

Additional Features

  • Rain Gutters
  • Floor Furnace

Listing and Financial Details

  • Tenant pays for cable TV, electricity
  • Legal Lot and Block 6 / 2
  • Tax Tract Number 5768
  • Assessor Parcel Number 7263005008

Community Details

Overview

  • No Home Owners Association
  • 8 Units

Amenities

  • Laundry Facilities

Building Details

  • 8 Leased Units
  • 9 Separate Electric Meters
  • 9 Separate Water Meters
  • Gross Income $8,385
  • Net Operating Income $75,465

Property Details

Home Type

Multi-Family

Year Built

Built in 1972 | Remodeled

Lot Details

0

Parking

4

Listing Details

  • Assessments: No
  • CapRate: 4.95
  • Property Attached: Yes
  • Road Frontage Type: Alley
  • Road Surface Type: Alley Paved
  • Subdivision Name Other: Alamitos Beach (AB)
  • Property Condition: Updated/Remodeled, Turnkey
  • Property Type: Residential Income
  • Parcel Number: 7263005008
  • Year Built: 1972
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Fireplace: No
  • Stories: 2
  • Common Walls: 2+ Common Walls
  • Flooring: Carpet
  • Entry Level: 1
  • Levels: Two
  • Price Per Square Foot: 251.77

Exterior Features

  • Pool Private: No

Garage/Parking

  • Garage Spaces: 4.00
  • Parking: Yes
  • Parking Features: Assigned
  • Total Parking Spaces: 12.00

Utilities

  • Utilities: Sewer Available
  • Heating: Yes
  • Laundry: Yes
  • Heating Type: Floor Furnace
  • Laundry Features: Community
  • Water Source: Public

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Community Features: Curbs, Gutters

Lot Info

  • Lot Size Sq Ft: 6514.00
  • Lot Size Acres: 0.1500

Rental Info

  • Tenant Pays: Cable TV, Electricity

Multi Family

  • Gross Income: 8385.00
  • Gross Multiplier: 15.15
  • Gross Scheduled Income: 100620.00
  • Laundry Equipment Own Lease: Own
  • Lot Size Area: 6514.0000 Square Feet
  • Net Operating Income: 75465.00
  • Number Of Rented Garages: 4
  • Number Of Separate Electric Meters: 9
  • Number Of Separate Water Meters: 9
  • Number Of Units Leased: 8
  • Number Of Units Total: 8
  • Operating Expense: 25155.00
  • Operating Expense Percent: 25.00
  • Rent Control: No
  • Total Actual Rent: 8040.00

Tax Info

  • Tax Block: 2
  • Tax Lot: 6
  • Tax Tract Number: 5768
  • Tax Year: 2013

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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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
03/09/2015 03/09/15 Sold $1,350,000 -15.6% $252 / Sq Ft
02/08/2015 02/08/15 Pending -- -- --
04/09/2014 04/09/14 For Sale $1,600,000 -- $298 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Julie Hughes

    Seller's Agent in 2015

    Julie Hughes

    Realty One Group Homelink

    (714) 393-5055

    1 in this area

    23 Total Sales

    Julie Hughes
    Section Image
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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PW14072439

California Regional Multiple Listing Service (CRMLS)
California Los Angeles County Long Beach 90814 North Alamitos Beach

2040 E Florida 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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