Seller's Agent in 2019
Matt Mahowald
Buckingham Investments, Inc
(310) 982-7055
28 Total Sales
215 W 8th St Long Beach, CA 90813
Willmore NeighborhoodEstimated Value: $1,561,000 - $2,101,000
14
Beds
5
Baths
5,045
Sq Ft
$375/Sq Ft
Est. Value
Highlights
- Primary Bedroom Suite
- Property is near a park
- No HOA
- Open Floorplan
- Corner Lot
- Double Pane Windows
About This Home
As of March 2019This massive 4-unit property is currently performing at 11.9 GRM, with a 5.7% Cap Rate - outperforming the local market! Recent major system upgrades include all new roof, plumbing, windows, landscaping, exterior stucco, and paint. The property consists of two 4bed/1.5bath units, one 3bed/1.5bath unit, and one 3bed/2bath unit. Each unit is large (1,000+ sqft) and offers functional layouts, laundry, parking, and are separately metered for gas and electricity. One unit just went through an extensive remodel, quickly renting at top of the market rates, and all other units are in good condition. Long Beach's first designated historic district, Willmore City / Drake Park Historic District, is a community rich in history, character, and charm. This dense rental market is perfect for investors who enjoy low vacancy rates, high market rental rates, and strong long-term appreciation. Close proximity to Downtown Long Beach provides maximum accessibility, with plenty of public transportation, freeway access, and a high walk score. The beach, parks, and other community amenities/ attractions like the Queen Marry and Aquarium are just minutes away! Long Beach is resurging due to hundreds of millions of dollars invested in private and public developments, a growing local economy with strong employment, and the increasing demand to "live, work, and play" in this remarkable community. This property is a great addition to any portfolio!
Last Agent to Sell the Property
Buckingham Investments, Inc License #02001732 Listed on: 12/21/2018
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $18,797
Year Built
- Built in 1920 | Remodeled
Lot Details
- 3,749 Sq Ft Lot
- Property fronts an alley
- 1 Common Wall
- Vinyl Fence
- Corner Lot
Home Design
- Property Attached
- Shingle Roof
- Composition Roof
Interior Spaces
- 5,045 Sq Ft Home
- 2-Story Property
- Open Floorplan
- Ceiling Fan
- Double Pane Windows
- Blinds
- Living Room
Kitchen
- Gas Oven
- Gas Cooktop
- Range Hood
Flooring
- Carpet
- Laminate
- Vinyl
Bedrooms and Bathrooms
- 14 Bedrooms
- Primary Bedroom Suite
- 5 Bathrooms
Laundry
- Laundry Room
- Washer and Gas Dryer Hookup
Home Security
- Security Lights
- Carbon Monoxide Detectors
- Fire and Smoke Detector
Parking
- 2 Open Parking Spaces
- 2 Parking Spaces
- Paved Parking
- On-Street Parking
- Assigned Parking
Outdoor Features
- Exterior Lighting
Location
- Property is near a park
- Property is near public transit
- Urban Location
Utilities
- Wall Furnace
- Gas Water Heater
- Phone Available
- Cable TV Available
Listing and Financial Details
- Tenant pays for electricity, gas
- Legal Lot and Block 4 / 15
- Tax Tract Number 5758
- Assessor Parcel Number 7272013021
Community Details
Overview
- No Home Owners Association
- 4 Units
Amenities
- Laundry Facilities
Building Details
- 4 Leased Units
- 4 Separate Electric Meters
- 4 Separate Gas Meters
- 1 Separate Water Meter
- Insurance Expense $2,000
- Water Sewer Expense $2,880
- New Taxes Expense $16,375
- Operating Expense $32,461
- Gross Income $110,040
- Net Operating Income $77,579
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
Dec 21, 2018
Closed on
Feb 6, 2019
Sold by
Bernotas Kevin W
Bought by
Fearnley John W
Seller's Agent
Matt Mahowald
Buckingham Investments, Inc
Buyer's Agent
Anthony Walker
Buckingham Investments, Inc
List Price
$1,360,000
Sold Price
$1,300,000
Premium/Discount to List
-$60,000
-4.41%
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
$589,625
Avg. Annual Appreciation
5.62%
Original Mortgage
$975,000
Interest Rate
4.4%
Mortgage Type
New Conventional
Purchase Details
Listed on
Dec 21, 2018
Closed on
Jan 28, 2019
Sold by
Lazar Winston H
Bought by
Bernotas Kevin W
Seller's Agent
Matt Mahowald
Buckingham Investments, Inc
Buyer's Agent
Anthony Walker
Buckingham Investments, Inc
List Price
$1,360,000
Sold Price
$1,300,000
Premium/Discount to List
-$60,000
-4.41%
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$975,000
Interest Rate
4.4%
Mortgage Type
New Conventional
Purchase Details
Listed on
Feb 5, 2018
Closed on
Apr 7, 2018
Sold by
Tong Donald
Bought by
Lazar Winston H
Seller's Agent
Kristina Moore
The Moore Group
Buyer's Agent
Matt Mahowald
Buckingham Investments, Inc
List Price
$1,030,000
Sold Price
$975,000
Premium/Discount to List
-$55,000
-5.34%
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
42.64%
Original Mortgage
$731,250
Interest Rate
4.45%
Mortgage Type
New Conventional
Purchase Details
Closed on
Apr 19, 2010
Sold by
Vo John Viet Q and Vo Tracy T
Bought by
Dw Family Trust
Purchase Details
Closed on
Apr 12, 2006
Sold by
Vo John Viet Quoc and Vo Tracy T
Bought by
Mit Family Holdings Lp
Purchase Details
Closed on
Nov 28, 2003
Sold by
Vo Tracy T and Luong Vinh Quoc
Bought by
Vo John Viet Q
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$420,000
Interest Rate
4%
Mortgage Type
Unknown
Purchase Details
Closed on
Feb 10, 2003
Sold by
Nguyen Andy
Bought by
Vo Tracy T
Purchase Details
Closed on
Jun 17, 2002
Sold by
Hud
Bought by
Nguyen Andy
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$370,692
Interest Rate
6.51%
Purchase Details
Closed on
Jul 31, 2001
Sold by
Chase Manhattan Mtg Corp
Bought by
Hud
Purchase Details
Closed on
Apr 16, 2001
Sold by
Durant Agustina and Duran Jose
Bought by
Chase Manhattan Mtg Corp
Purchase Details
Closed on
Oct 2, 1997
Sold by
Mkt Community Development Corp
Bought by
Duran Agustina
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$314,418
Interest Rate
7.54%
Mortgage Type
FHA
Purchase Details
Closed on
Jul 15, 1997
Sold by
Tillman Glen and Mosher Bret Patrick
Bought by
Mkt Community Development Corp
Purchase Details
Closed on
Feb 11, 1997
Sold by
Tillman Glen and Mosher Bret Patrick
Bought by
Tillman Glen
Purchase Details
Closed on
Dec 10, 1996
Sold by
Locust Properties Ltd
Bought by
Tillman Glen
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$150,000
Interest Rate
7.62%
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 |
|---|---|---|---|
| Fearnley John W | $1,300,000 | Orange Coast Title Co | |
| Bernotas Kevin W | -- | Orange Coast Title Co Of Sou | |
| Lazar Winston H | $975,000 | Ticor Title Company | |
| Dw Family Trust | $431,946 | None Available | |
| Mit Family Holdings Lp | -- | None Available | |
| Vo John Viet Q | -- | Stewart Title Irvine | |
| Vo Tracy T | -- | -- | |
| Nguyen Andy | $412,000 | Stewart Title | |
| Hud | -- | First American Title Ins Co | |
| Chase Manhattan Mtg Corp | $362,620 | First American Title Ins Co | |
| Duran Agustina | $330,000 | United Title Company | |
| Mkt Community Development Corp | -- | -- | |
| Tillman Glen | -- | -- | |
| Tillman Glen | $123,000 | -- | |
| Tillman Glen | -- | -- |
Source: Public Records
Mortgage History
| Date | Status | Borrower | Loan Amount |
|---|---|---|---|
| Open | Fearnley John W | $943,000 | |
| Closed | Fearnley John W | $975,000 | |
| Previous Owner | Lazar Winston H | $731,250 | |
| Previous Owner | Vo John Viet Q | $295,866 | |
| Previous Owner | Vo John Viet Q | $420,000 | |
| Previous Owner | Nguyen Andy | $370,692 | |
| Previous Owner | Duran Agustina | $314,418 | |
| Previous Owner | Tillman Glen | $150,000 |
Source: Public Records
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 03/01/2019 03/01/19 | Sold | $1,300,000 | -0.8% | $258 / Sq Ft |
| 01/24/2019 01/24/19 | Price Changed | $1,310,000 | -3.7% | $260 / Sq Ft |
| 12/21/2018 12/21/18 | For Sale | $1,360,000 | +39.5% | $270 / Sq Ft |
| 05/08/2018 05/08/18 | Sold | $975,000 | -5.3% | $193 / Sq Ft |
| 03/29/2018 03/29/18 | Pending | -- | -- | -- |
| 02/17/2018 02/17/18 | For Sale | $1,030,000 | 0.0% | $204 / Sq Ft |
| 02/09/2018 02/09/18 | Pending | -- | -- | -- |
| 02/05/2018 02/05/18 | For Sale | $1,030,000 | -- | $204 / 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 |
|---|---|---|---|---|
| 2025 | $18,797 | $1,450,170 | $602,378 | $847,792 |
| 2024 | $18,797 | $1,421,736 | $590,567 | $831,169 |
| 2023 | $18,477 | $1,393,860 | $578,988 | $814,872 |
| 2022 | $17,347 | $1,366,531 | $567,636 | $798,895 |
| 2021 | $16,986 | $1,339,737 | $556,506 | $783,231 |
| 2019 | $13,046 | $994,500 | $408,000 | $586,500 |
| 2018 | $7,635 | $555,880 | $215,544 | $340,336 |
| 2016 | $7,006 | $534,296 | $207,175 | $327,121 |
| 2015 | $6,739 | $526,272 | $204,064 | $322,208 |
| 2014 | $6,705 | $515,964 | $200,067 | $315,897 |
Source: Public Records
Agents Affiliated with this Home
-
Matt Mahowald
-
Anthony Walker
Buyer's Agent in 2019
Anthony Walker
Buckingham Investments, Inc
(310) 982-7055
1 in this area
80 Total Sales
-
Kristina Moore
Seller's Agent in 2018
Kristina Moore
The Moore Group
(714) 809-7608
1 in this area
27 Total Sales
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: SB18294889
APN: 7272-013-021
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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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