NOT LISTED FOR SALE

2124 E Florida St Unit A Long Beach, CA 90814

North Alamitos Beach Neighborhood
1 Bed
2 Baths
4,840 Sq Ft
6,485 Sq Ft Lot

Last Sold July 18, 2024

Last sale price $1,712,500 $354 Per Sq Ft

22 Days on Market

Highlights

  • 0.15 Acre Lot
  • Property is near public transit
  • Spanish Architecture
  • Woodrow Wilson High School Rated A
  • Wood Flooring
  • No HOA

About This Home

As of July 2024

First time for sale in 35 years. 8 Unit Apt. Bldg.This is a fixer with value-add opportunity. This owner owns several other buildings that we can package or sold separately, call for the portfolio list. See attached rent roll in supplements.

Last Agent to Sell the Property

Mark Kachigan

Pabst, Kinney & Associates License #00644779 Listed on: 06/04/2024

Last Buyer's Agent

Matt Mahowald

Buckingham Investments, Inc License #02001732

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1928

Lot Details

  • 6,485 Sq Ft Lot
  • Lot Dimensions are 50 x 130
  • Property fronts an alley
  • Two or More Common Walls
  • Rectangular Lot
  • Level Lot

Parking

  • 2 Car Garage
  • Parking Available
  • Rear-Facing Garage

Home Design

  • Spanish Architecture
  • Mediterranean Architecture
  • Apartment
  • Entry on the 1st floor
  • Cosmetic Repairs Needed
  • Fixer Upper
  • Composition Roof

Interior Spaces

  • 4,840 Sq Ft Home
  • 2-Story Property

Flooring

  • Wood
  • Carpet
  • Laminate

Bedrooms and Bathrooms

  • 1 Bedroom
  • 2 Bathrooms

Additional Features

  • Exterior Lighting
  • Property is near public transit
  • Natural Gas Connected

Listing and Financial Details

  • Legal Lot and Block 4 / 1
  • Assessor Parcel Number 7263005019
  • $1,386 per year additional tax assessments
  • Seller Considering Concessions

Community Details

Overview

  • No Home Owners Association
  • 2 Buildings
  • 8 Units
  • Belmont Heights Subdivision

Recreation

  • Dog Park

Building Details

  • Rent Control
  • 8 Separate Electric Meters
  • 8 Separate Gas Meters
  • 1 Separate Water Meter
  • Gardener Expense $2,250
  • Insurance Expense $4,069
  • Other Expense $7,781
  • Pest Control $604
  • Supplies Expense $2,140
  • Operating Expense $56,742
  • Gross Income $158,100
  • Net Operating Income $96,615

Property Details

Home Type

Multi-Family

Year Built

Built in 1928

Lot Details

0

Parking

2

Listing Details

  • Assessments: Yes
  • Property Attached: Yes
  • Road Frontage Type: Alley, City Street
  • Road Surface Type: Alley Paved, Paved
  • Subdivision Name Other: Belmont Heights (BH)
  • Supplies Expense: 2140.00
  • Zoning: LBR1N
  • Architectural Style: Mediterranean, Spanish
  • Property Condition: Fixer, Repairs Cosmetic
  • Property Sub Type: Apartment
  • Property Type: Residential Income
  • Gardener Expense: 2250.00
  • Parcel Number: 7263005019
  • Year Built: 1928
  • AgentOnly_SellerConsiderConcessionYN: Yes
  • Special Features: None

Interior Features

  • Stories: 2
  • Common Walls: 2+ Common Walls
  • Flooring: Carpet, Laminate, Wood
  • Entry Level: 1
  • Levels: Two
  • Price Per Square Foot: 353.82

Exterior Features

  • Pool Private: No
  • Roof: Composition
  • Spa: No

Garage/Parking

  • Garage Spaces: 2.00
  • Parking: Yes
  • Parking Features: Garage Faces Rear
  • Total Parking Spaces: 2.00

Utilities

  • Utilities: Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
  • Laundry: No
  • Electric: Electricity - On Property
  • Pest Control Expense: 604.00
  • Sewer: Public Sewer
  • Water Source: Public

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Common Interest: Community Apartment
  • Community Features: Curbs, Dog Park, Sidewalks, Street Lights

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: Rectangular Lot, Level, Near Public Transit
  • Lot Size: 50 X 130
  • Lot Size Sq Ft: 6485.00
  • Lot Size Acres: 0.1489

Multi Family

  • Gross Income: 158100.00
  • Gross Multiplier: 12.30
  • Gross Operating Income: 153357.00
  • Gross Scheduled Income: 158100.00
  • Insurance Expense: 4069.00
  • Lot Size Area: 6485.0000 Square Feet
  • Net Operating Income: 96615.00
  • Number Of Separate Electric Meters: 8
  • Number Of Separate Gas Meters: 8
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 8
  • Operating Expense: 56742.00
  • Operating Expense Percent: 37.00
  • Other Expense: 7781.00
  • Other Expense Description: Utility
  • Rent Control: Yes
  • Total Actual Rent: 13175.00
  • Total Expenses: 56742.00
  • Vacancy Allowance Rate: 3.00

Tax Info

  • Tax Block: 1
  • Tax Census Tract: 5768.01
  • Tax Lot: 4
  • Tax Tract Number: 00000
  • TaxOtherAnnualAssessmentAmount: 1386.00

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
07/18/2024 07/18/24 Sold $1,712,500 -9.9% $354 / Sq Ft
06/04/2024 06/04/24 For Sale $1,900,000 -- $393 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Mark Kachigan

    Seller's Agent in 2024

    Mark Kachigan

    Pabst, Kinney & Associates

    (562) 225-4848

    3 in this area

    35 Total Sales

    Mark Kachigan
    Section Image
  • Matt Mahowald

    Buyer's Agent in 2024

    Matt Mahowald

    Buckingham Investments, Inc

    (310) 982-7055

    3 in this area

    29 Total Sales

    Matt Mahowald
    Section Image
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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PW24112802

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

2124 E Florida St Unit A, Long Beach, CA

Not Listed for Sale

MultiFamily

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