$1,380,000
SOLD OCT 16, 2024
8 Beds
4 Baths
3,769 Sq Ft
6,274 Sq Ft Lot

Recently Sold

$366 Per Sq Ft

46 Days on Market

Highlights

  • 8 Car Attached Garage
  • Tandem Parking
  • Ceiling Fan
  • Long Beach Polytechnic High School Rated A
  • Laundry Room

About This Home

As of October 2024

Great investor opportunity to acquire a well maintained 4 unit building located in the high demand South Wrigley Sub-Market of Long Beach. The building is a cash machine, has a 6.9% in place cap rate, a 7.2%+ ProForma Cap Rate, and is 100% leased. It contains (3) spacious 2 Bedroom / 1 Bathroom Units, and (1) very spacious 3 Bedroom / 1 Bathroom Unit. The building also has a detached garage complex containing (3) one car garages that can be used as storage if needed and fit one vehicle parked behind. Three of the apartment have been remodeled within the last two years and the one remaining non-remodeled unit gives the new owner and opportunity to remodel, add value, and bring up to market rent. The property is located in close proximity to schools, banks, shopping centers, public transit, and easy freeway access. It is within walking distance of Long Beach Poly High, and only 2.1 miles from Downtown Long Beach. The area boats strong rental demand and all vacancies have been easily filled at market rent with multiple applicants coming forth.

Last Agent to Sell the Property

KC James Dorame

Allure Capital Management Corp License #02019663 Listed on: 08/02/2024

Co-Listed By

Joey Daurio

Allure Capital Management Corp License #01992950

Last Buyer's Agent

Jimmy Thach

Seal Real Estate License #01386221

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $14,370

Year Built

  • Built in 1929

Lot Details

  • 6,274 Sq Ft Lot

Home Design

  • Split Level Home
  • Raised Foundation

Interior Spaces

  • 3,769 Sq Ft Home
  • 2-Story Property
  • Ceiling Fan

Kitchen

  • Microwave
  • Dishwasher
  • Disposal

Bedrooms and Bathrooms

  • 8 Bedrooms
  • 4 Bathrooms

Laundry

  • Laundry Room
  • Laundry Located Outside
  • Leased Washer and Dryer

Parking

  • 8 Car Attached Garage
  • Tandem Parking

Utilities

  • Cooling System Mounted To A Wall/Window
  • Window Unit Cooling System
  • Heating System Mounted To A Wall or Window
  • Property is located within a water district
  • Central Water Heater

Community Details

  • 4 Units
  • Laundry Facilities
  • Rent Control

Listing and Financial Details

  • Assessor Parcel Number 7205-030-011

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$14,370

Year Built

Built in 1929

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Levels: Multi/Split
  • Street Number Display: Yes
  • ADA Compliant: No
  • Additional Assessor Parcel Numbers: No
  • Alley: Yes
  • Living Area: 3769
  • Lot Acreage: 0.1440
  • Probate: No
  • Stories: 2
  • Year Built: 1929
  • Number Of Photos: 3
  • State Abbrv: CA
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Bedrooms: 8
  • Laundry: Room, Outside, Community, Laundry Area
  • Laundry Equipment: Lease
  • Total Bathrooms: 4.00
  • Equipment: Ceiling Fan, Dishwasher, Garbage Disposal, Microwave
  • Price Per S Q F T: 364.82

Exterior Features

  • Other Structures: None
  • Tennis Court Y/N: No
  • Foundation Details: Raised
  • Pool: No
  • Spa Yn: No

Garage/Parking

  • Parking Garage: Detached, Garage Is Detached, Private Garage, Tandem
  • Total Parking: 8

Utilities

  • Water Heater: Central Water Heater
  • Cooling: Wall/Window, Window Unit(s), Air Conditioning, Electric
  • Heating: Wall, Wall Electric
  • Water: District

Lot Info

  • Additions Alterations: No
  • Assessed Improvement Percent: 40.59
  • Assessed Improvement Value: 430981
  • Assessed Land Percent: 59.41
  • Assessed Land Value: 630706
  • Total Assessed Value: 1061687
  • Assessor Parcel Number: 7205-030-011
  • Lot Size Area: 6274

Rental Info

  • Rent Control: Yes

Multi Family

  • Unit Type: 2106, 2107
  • Gross Rent Multiplier: 11.56
  • Number Of Units: 4
  • Rent Control: 100
  • Total Annual Expense: 23587
  • Type Of Units: Apartments
  • Vacancy Rate: 0%

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Aug 2, 2024
Closed on
Oct 8, 2024
Sold by
Marshall And Serafina Krupp Family Revoc and Krupp Marshall
Bought by
Siem Johnny Ly and Siem Diyana Nyein
Seller's Agent
KC James Dorame
Allure Capital Management Corp
Buyer's Agent
Jimmy Thach
Seal Real Estate
List Price
$1,375,000
Sold Price
$1,380,000
Premium/Discount to List
$5,000
0.36%
Views
16
Current Estimated Value
$1,382,258

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$2,258
Avg. Annual Appreciation
-0.26%
Original Mortgage
$1,035,000
Outstanding Balance
$1,026,145
Interest Rate
6.35%
Mortgage Type
New Conventional
Estimated Equity
$350,757

Purchase Details

Listed on
Jun 1, 2019
Closed on
Jun 13, 2019
Sold by
Chonis Jeffery J and Chonis Joyce E
Bought by
Krupp Marshall and Krupp Serafina D
Seller's Agent
Jeff Chonis
Buckingham Investments, Inc.
Buyer's Agent
Anthony Walker
Buckingham Investments, Inc
List Price
$1,035,000
Sold Price
$1,010,000
Premium/Discount to List
-$25,000
-2.42%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
6.11%
Original Mortgage
$757,500
Interest Rate
3.9%
Mortgage Type
New Conventional

Purchase Details

Listed on
Jul 27, 2017
Closed on
Oct 3, 2017
Sold by
Chonis Jeffery J
Bought by
Chonis Jeffery J and Chonis Joyce E
Seller's Agent
Cass Bastain
Cass Bastain, Broker
Buyer's Agent
NoEmail NoEmail
NONMEMBER MRML
List Price
$849,000
Sold Price
$830,000
Premium/Discount to List
-$19,000
-2.24%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
11.80%
Original Mortgage
$574,350
Interest Rate
3.89%
Mortgage Type
New Conventional

Purchase Details

Listed on
Jul 27, 2017
Closed on
Aug 30, 2017
Sold by
Roybal Thomas
Bought by
Chonis Jeffery J and Chonis Joyce E
Seller's Agent
Cass Bastain
Cass Bastain, Broker
Buyer's Agent
NoEmail NoEmail
NONMEMBER MRML
List Price
$849,000
Sold Price
$830,000
Premium/Discount to List
-$19,000
-2.24%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$574,350
Interest Rate
3.89%
Mortgage Type
New Conventional

Purchase Details

Closed on
Jul 18, 2017
Sold by
Roybal Kristin
Bought by
Roybal Thomas

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$574,350
Interest Rate
3.89%
Mortgage Type
New Conventional

Purchase Details

Listed on
Jul 15, 2015
Closed on
Dec 22, 2015
Sold by
Udoh Felicia
Bought by
Roybal Thomas
Seller's Agent
Bondzie Caiquo
Bondzie Wisdon Caiquo
Buyer's Agent
Cass Bastain
Cass Bastain, Broker
List Price
$695,500
Sold Price
$695,000
Premium/Discount to List
-$500
-0.07%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
7.41%

Purchase Details

Closed on
Apr 26, 2013
Sold by
Udoh Nnaemeka
Bought by
Udoh Felicia

Purchase Details

Closed on
Jan 30, 2002
Sold by
Udoh Nnaemeka
Bought by
Udoh Nnaemeka

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$143,500
Interest Rate
7.13%
Mortgage Type
Purchase Money Mortgage
Source: Public Records

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Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Purchase History

Date Type Sale Price Title Company
Grant Deed $1,380,000 Equity Title Company
Grant Deed $1,010,000 Ticor Title
Interfamily Deed Transfer -- Old Republic Title Company
Grant Deed $820,500 Old Republic Title Company
Interfamily Deed Transfer -- None Available
Grant Deed $695,000 Orange Coast Title Company
Interfamily Deed Transfer -- Orange Coast Title Company
Interfamily Deed Transfer -- First American Title Co
Interfamily Deed Transfer -- First American Title Co
Source: Public Records

Mortgage History

Date Status Loan Amount Loan Type
Open $1,035,000 New Conventional
Previous Owner $767,000 New Conventional
Previous Owner $757,000 New Conventional
Previous Owner $757,500 New Conventional
Previous Owner $574,350 New Conventional
Previous Owner $117,187 New Conventional
Previous Owner $143,500 Purchase Money Mortgage
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
10/16/2024 10/16/24 Sold $1,380,000 +0.4% $366 / Sq Ft
09/17/2024 09/17/24 Pending -- -- --
08/02/2024 08/02/24 For Sale $1,375,000 +36.1% $365 / Sq Ft
07/15/2019 07/15/19 Sold $1,010,000 -2.4% $268 / Sq Ft
06/01/2019 06/01/19 Pending -- -- --
06/01/2019 06/01/19 For Sale $1,035,000 +24.7% $275 / Sq Ft
10/12/2017 10/12/17 Sold $830,000 -2.2% $220 / Sq Ft
08/27/2017 08/27/17 Pending -- -- --
07/27/2017 07/27/17 For Sale $849,000 +22.2% $225 / Sq Ft
02/02/2016 02/02/16 Sold $695,000 -0.1% $184 / Sq Ft
12/14/2015 12/14/15 Pending -- -- --
07/15/2015 07/15/15 For Sale $695,500 -- $185 / Sq Ft
Source: The MLS

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 $14,370 $1,380,000 $500,000 $880,000
2024 $14,370 $1,082,920 $643,320 $439,600
2023 $14,128 $1,061,687 $630,706 $430,981
2022 $13,269 $1,040,871 $618,340 $422,531
2021 $12,996 $1,020,463 $606,216 $414,247
2019 $10,957 $836,910 $306,000 $530,910
2018 $10,609 $820,500 $300,000 $520,500
2016 $4,146 $303,834 $112,137 $191,697
2015 $3,993 $299,271 $110,453 $188,818
2014 $3,986 $293,410 $108,290 $185,120
Source: Public Records

Agents Affiliated with this Home

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Map

Source: The MLS

MLS Number: 24-423989

The MLS

APN: 7205-030-011