NOT LISTED FOR SALE

2156 Earl Ave Long Beach, CA 90806

Southeast Wrigley Neighborhood

Estimated Value: $1,443,000 - $1,510,000

12 Beds
6 Baths
4,052 Sq Ft
$363/Sq Ft Est. Value

Last Sold October 06, 2012

Last sale price $605,000 $149 Per Sq Ft

Est. 143% increase in value since last sale

Current estimated payment $8,554/month

25 Days on Market

Highlights

  • Mediterranean Architecture
  • Long Beach Polytechnic High School Rated A
  • No Heating

About This Home

As of October 2012

Four great upgraded units in excellent rental area. Individual gas and elec meters, huge square footage.Expenses are projected. Your buyer can live in one unit and collect an additional $4720 toward the monthly payment. Historically low interest rates, along with 3.5% FHA down payments can result in cash flow from Day 1. Low maintenance building in outstanding rental area close to all services. With 3% yearly rent increase, income goes to 4861 in year 2 and 5007 in year 3. Call for more information.

Last Agent to Sell the Property

Steve Gamez

P.R.S. Properties License #00586247 Listed on: 08/10/2012

Co-Listed By

Stephen Hagerman

Genesis Realty License #01392401

Last Buyer's Agent

Stephen Snell

California Income Property License #01467849

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1940

Lot Details

  • 6,276 Sq Ft Lot

Parking

  • 2 Car Garage

Home Design

  • 4,052 Sq Ft Home
  • Mediterranean Architecture
  • Stucco

Bedrooms and Bathrooms

  • 12 Bedrooms
  • 6 Bathrooms

Utilities

  • No Heating
  • Sewer Paid

Listing and Financial Details

  • Tenant pays for cable TV, electricity, gas, trash collection
  • Legal Lot and Block 5 / C
  • Assessor Parcel Number 7208025005

Community Details

Overview

  • 4 Units

Building Details

  • 5 Separate Electric Meters
  • 5 Separate Gas Meters
  • 1 Separate Water Meter
  • Net Operating Income $53,609

Property Details

Home Type

Multi-Family

Year Built

Built in 1940

Lot Details

0

Parking

2

Listing Details

  • Assessments: No
  • CapRate: 8.66
  • View: No
  • Architectural Style: Mediterranean
  • Property Type: Residential Income
  • Parcel Number: 7208025005
  • Year Built: 1940
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Fireplace: No
  • Appliances: No
  • Levels: Two
  • Price Per Square Foot: 149.31

Exterior Features

  • Pool Private: No
  • Spa: No
  • Construction Materials: Stucco

Garage/Parking

  • Garage Spaces: 2.00
  • Parking: No
  • Total Parking Spaces: 2.00

Utilities

  • Utilities: Sewer Connected
  • Heating: No
  • Laundry: No
  • Sewer: Sewer Paid

Condo/Co-op/Association

  • Senior Community: No

Lot Info

  • Lot Size Sq Ft: 6276.00
  • Lot Size Acres: 0.1440

Rental Info

  • Tenant Pays: Cable TV, Electricity, Gas, Trash Collection

Multi Family

  • Gross Multiplier: 8.23
  • Gross Scheduled Income: 75240.00
  • Lot Size Area: 6276.0000 Square Feet
  • Net Operating Income: 53609.00
  • Number Of Separate Electric Meters: 5
  • Number Of Separate Gas Meters: 5
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 4
  • Operating Expense: 17870.00
  • Operating Expense Percent: 25.00
  • Vacancy Allowance Rate: 5.00

Tax Info

  • Tax Area: 11934
  • Tax Block: C
  • Tax Lot: 5

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Dec 9, 2014
Sold by
Coelho Mario A
Bought by
Mario & Reisha Coelho Revocable Trust
Current Estimated Value
$1,469,333

Purchase Details

Listed on
Aug 10, 2012
Closed on
Sep 28, 2012
Sold by
Apg Fund I Llc
Bought by
Coelho Mario A and Coelho Reisha F
Seller's Agent
Steve Gamez
P.R.S. Properties
Buyer's Agent
Stephen Snell
California Income Property
List Price
$619,000
Sold Price
$605,000
Premium/Discount to List
-$14,000
-2.26%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
6.94%
Original Mortgage
$412,500
Outstanding Balance
$286,717
Interest Rate
3.59%
Mortgage Type
New Conventional
Estimated Equity
$1,182,616

Purchase Details

Closed on
Aug 3, 2012
Sold by
Arellanes Albert
Bought by
Apg Fund I Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$412,500
Outstanding Balance
$286,717
Interest Rate
3.59%
Mortgage Type
New Conventional
Estimated Equity
$1,182,616

Purchase Details

Closed on
Oct 1, 2007
Sold by
Daugherty Sean
Bought by
Arellanes Albert and Arellanes Allan

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$560,490
Interest Rate
6.26%
Mortgage Type
Negative Amortization

Purchase Details

Closed on
Sep 27, 2007
Sold by
Arellanes Debbie
Bought by
Arellanes Albert

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$560,490
Interest Rate
6.26%
Mortgage Type
Negative Amortization

Purchase Details

Closed on
Aug 30, 2006
Sold by
Daugherty Jill
Bought by
Daugherty Sean

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$602,000
Interest Rate
6.36%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
Mar 31, 2005
Sold by
Ingram Thomas P
Bought by
Chelsea Rose Properties Llc

Purchase Details

Closed on
Jun 4, 2003
Sold by
Ingram Twila Ann Festejo
Bought by
Ingram Thomas P

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$318,750
Interest Rate
5.71%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
May 11, 2000
Sold by
Scofield James M and Scofield Teresa L
Bought by
Ingram Thomas P and Ingram Twila Ann Festejo

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$145,000
Interest Rate
8.12%
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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Average Value
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Mario & Reisha Coelho Revocable Trust -- None Available
Coelho Mario A $605,000 First American Title Company
Apg Fund I Llc $502,000 None Available
Arellanes Albert $785,000 Ticor Title Co Glendale
Arellanes Albert -- Ticor Title Co Glendale
Daugherty Sean -- Ticor Title Company Of Ca
Daugherty Sean $610,000 Ticor Title Company Of Ca
Chelsea Rose Properties Llc -- --
Ingram Thomas P -- Commonwealth
Ingram Thomas P $200,000 Fidelity National Title
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Coelho Mario A $412,500
Previous Owner Arellanes Albert $560,490
Previous Owner Daugherty Sean $602,000
Previous Owner Ingram Thomas P $318,750
Previous Owner Ingram Thomas P $145,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
10/06/2012 10/06/12 Sold $605,000 -2.3% $149 / Sq Ft
09/04/2012 09/04/12 Pending -- -- --
08/10/2012 08/10/12 For Sale $619,000 -- $153 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

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 $10,269 $745,004 $246,282 $498,722
2024 $10,269 $730,397 $241,453 $488,944
2023 $10,088 $716,076 $236,719 $479,357
2022 $9,489 $702,036 $232,078 $469,958
2021 $9,276 $688,272 $227,528 $460,744
2019 $9,144 $668,539 $220,780 $447,759
2018 $8,836 $655,444 $216,451 $438,993
2016 $8,125 $629,341 $208,047 $421,294
2015 $7,811 $619,888 $204,922 $414,966
2014 $7,769 $607,746 $200,908 $406,838
Source: Public Records

Agents Affiliated with this Home

  • Steve Gamez

    Seller's Agent in 2012

    Steve Gamez

    P.R.S. Properties

    (714) 328-0832

    4 Total Sales

    Steve Gamez
    Section Image

  • S

    Seller Co-Listing Agent in 2012

    Stephen Hagerman

    Genesis Realty

  • S

    Buyer's Agent in 2012

    Stephen Snell

    California Income Property

See All Agents

Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: P831560

California Regional Multiple Listing Service (CRMLS)

APN: 7208-025-005

California Los Angeles County Long Beach 90806 Southeast Wrigley

2156 Earl Ave, Long Beach, CA

Not Listed for Sale

MultiFamily

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