2115 Locust Ave Long Beach, CA 90806
Southeast Wrigley NeighborhoodEstimated Value: $1,284,000 - $1,709,000
6
Beds
4
Baths
4,158
Sq Ft
$357/Sq Ft
Est. Value
About This Home
As of October 2020All Tenants are currently paying!
Great opportunity to own a Beautiful, Cash Flowing 4-plex at 2115 Locust Ave., Long Beach. Located in South Wrigley, the asset is a great owner/user opportunity with a House in the front and (3) Units in the back.
Locust Ave. has a very strong unit mix, being comprised of (1) 3-Bedroom/2 Bath, (2) 2-bedroom/1-bath, & (1) 1-Bedroom/1-bath units. A very rare commodity in Long Beach, the property has (5) garages on site conveniently located for all tenants, as well as an opportunity for extra income for owners. This massive 4-plex accounts for 4,158 Sq.Ft, and sits on a 6,245 Sq.Ft lot. With the 3-Bed House rented with top of the market rents, the property would be operating at a 5.65% Cap and 12.50 GRM! 2115 Locust is also separately metered for gas and electric.
With $6B in development flowing into the city, Long Beach has continued to rise as a top beach community. This is a perfect opportunity for any buyer looking to own cash flowing asset with upside.
Last Agent to Sell the Property
Lyon Stahl Investment Real Estate, Inc. License #02035763 Listed on: 06/03/2020
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $16,444
Year Built
- Built in 1965
Lot Details
- 6,245 Sq Ft Lot
- Two or More Common Walls
- Density is up to 1 Unit/Acre
Parking
- 5 Car Garage
Home Design
- 4,158 Sq Ft Home
- Property Attached
Bedrooms and Bathrooms
- 6 Bedrooms
- 4 Bathrooms
Additional Features
- Exterior Lighting
- Urban Location
Listing and Financial Details
- Legal Lot and Block 11 / C
- Tax Tract Number 6
- Assessor Parcel Number 7208025023
Community Details
Overview
- 4 Units
- Wrigley Area Subdivision
Building Details
- 4 Separate Electric Meters
- 4 Separate Gas Meters
- 1 Separate Water Meter
- Operating Expense $24,933
- Gross Income $94,776
- Net Operating Income $67,000
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
Jun 3, 2020
Closed on
Sep 30, 2020
Sold by
Dong Wei
Bought by
Uray Sean
Seller's Agent
Cameron Samimi
Lyon Stahl Investment Real Estate, Inc.
Buyer's Agent
Marc Coppock
First Team Real Estate
List Price
$1,199,000
Sold Price
$1,175,000
Premium/Discount to List
-$24,000
-2%
Total Days on Market
141
Current Estimated Value
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$310,940
Avg. Annual Appreciation
5.25%
Original Mortgage
$881,250
Outstanding Balance
$791,311
Interest Rate
2.8%
Mortgage Type
New Conventional
Estimated Equity
$694,629
Purchase Details
Listed on
Apr 14, 2018
Closed on
Jul 6, 2018
Sold by
Huss Adam E
Bought by
Dong Wei and Wei Dong Family Trust
Seller's Agent
Adam Huss
Huss Real Estate
Buyer's Agent
Luke Lu
Supcom Properties
List Price
$1,050,000
Sold Price
$975,000
Premium/Discount to List
-$75,000
-7.14%
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
8.53%
Purchase Details
Listed on
May 18, 2012
Closed on
Jul 24, 2012
Sold by
Rodriguez Jesus
Bought by
Huss Adam E and Mattheson Megan P
Seller's Agent
Larry Jolly
Larry Jolly Real Estate
Buyer's Agent
Nivia Licardie
eXp Realty
List Price
$450,000
Sold Price
$485,000
Premium/Discount to List
$35,000
7.78%
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
12.61%
Original Mortgage
$363,700
Interest Rate
3.56%
Mortgage Type
New Conventional
Purchase Details
Closed on
Aug 2, 2004
Sold by
Shayestehjah Tahereh A
Bought by
Rodriguez Jesus S
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$514,500
Interest Rate
4.25%
Mortgage Type
Purchase Money Mortgage
Purchase Details
Closed on
Nov 23, 1996
Sold by
Home Svgs Of America Fsb
Bought by
White Gary E
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$162,709
Interest Rate
7.91%
Mortgage Type
FHA
Purchase Details
Closed on
Apr 9, 1996
Sold by
Johnson Joe D and Karns Johnson Nancy L
Bought by
Home Svgs Of America Fsb
Similar Homes in Long Beach, CA
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area
Home Values in the Area
Average Home Value in this Area
Purchase History
| Date | Buyer | Sale Price | Title Company |
|---|---|---|---|
| Uray Sean | $1,175,000 | First American Title Company | |
| Dong Wei | $975,000 | Chicago Title Company | |
| Huss Adam E | $485,000 | Chicago Title Company | |
| Rodriguez Jesus S | $735,000 | Lawyers Title Company | |
| White Gary E | $139,000 | Investors Title Company | |
| Home Svgs Of America Fsb | $144,000 | Fidelity National Title Ins |
Source: Public Records
Mortgage History
| Date | Status | Borrower | Loan Amount |
|---|---|---|---|
| Open | Uray Sean | $881,250 | |
| Previous Owner | Huss Adam E | $363,700 | |
| Previous Owner | Rodriguez Jesus S | $692,000 | |
| Previous Owner | Rodriguez Jesus S | $514,500 | |
| Previous Owner | Shayestehjah Tahereh A | $360,000 | |
| Previous Owner | White Gary E | $50,000 | |
| Previous Owner | White Gary E | $195,000 | |
| Previous Owner | White Gary E | $162,709 | |
| Closed | Rodriguez Jesus S | $147,000 |
Source: Public Records
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 10/27/2020 10/27/20 | Sold | $1,175,000 | -0.8% | $283 / Sq Ft |
| 10/22/2020 10/22/20 | Pending | -- | -- | -- |
| 09/15/2020 09/15/20 | Price Changed | $1,185,000 | -1.2% | $285 / Sq Ft |
| 08/14/2020 08/14/20 | For Sale | $1,199,000 | +2.0% | $288 / Sq Ft |
| 08/12/2020 08/12/20 | Off Market | $1,175,000 | -- | -- |
| 07/07/2020 07/07/20 | Price Changed | $1,199,000 | -2.1% | $288 / Sq Ft |
| 06/22/2020 06/22/20 | Price Changed | $1,225,000 | -2.0% | $295 / Sq Ft |
| 06/03/2020 06/03/20 | For Sale | $1,250,000 | +28.2% | $301 / Sq Ft |
| 07/17/2018 07/17/18 | Sold | $975,000 | -2.5% | $234 / Sq Ft |
| 07/02/2018 07/02/18 | Pending | -- | -- | -- |
| 04/24/2018 04/24/18 | Price Changed | $1,000,000 | -4.8% | $241 / Sq Ft |
| 04/14/2018 04/14/18 | For Sale | $1,050,000 | 0.0% | $253 / Sq Ft |
| 12/05/2012 12/05/12 | Rented | $1,200 | 0.0% | -- |
| 12/05/2012 12/05/12 | Under Contract | -- | -- | -- |
| 09/04/2012 09/04/12 | For Rent | $1,200 | 0.0% | -- |
| 08/31/2012 08/31/12 | Sold | $485,000 | +7.8% | $117 / Sq Ft |
| 08/10/2012 08/10/12 | Pending | -- | -- | -- |
| 05/18/2012 05/18/12 | For Sale | $450,000 | -- | $108 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
Tax History Compared to Growth
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 |
|---|---|---|---|---|
| 2024 | $16,444 | $1,246,919 | $530,604 | $716,315 |
| 2023 | $16,169 | $1,222,470 | $520,200 | $702,270 |
| 2022 | $15,184 | $1,198,500 | $510,000 | $688,500 |
| 2021 | $14,874 | $1,175,000 | $500,000 | $675,000 |
| 2019 | $12,664 | $975,000 | $300,000 | $675,000 |
| 2018 | $7,063 | $524,893 | $216,451 | $308,442 |
| 2016 | $6,483 | $504,513 | $208,047 | $296,466 |
| 2015 | $6,233 | $496,935 | $204,922 | $292,013 |
| 2014 | $6,207 | $487,201 | $200,908 | $286,293 |
Source: Public Records
Agents Affiliated with this Home
-
Cameron Samimi
Seller's Agent in 2020
Cameron Samimi
Lyon Stahl Investment Real Estate, Inc.
(310) 259-7556
3 in this area
176 Total Sales
-
Marc Coppock
Buyer's Agent in 2020
Marc Coppock
First Team Real Estate
(714) 457-5253
2 in this area
121 Total Sales
-
Adam Huss
Seller's Agent in 2018
Adam Huss
Huss Real Estate
(562) 626-8600
16 Total Sales
-
Luke Lu
Buyer's Agent in 2018
Luke Lu
Supcom Properties
(310) 619-1616
5 Total Sales
-
Larry Jolly
L
Seller's Agent in 2012
Larry Jolly
Larry Jolly Real Estate
(562) 412-0114
7 Total Sales
-
Nivia Licardie
Buyer's Agent in 2012
Nivia Licardie
eXp Realty
(562) 307-4970
43 Total Sales
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: SB20106284
APN: 7208-025-023
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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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