NOT LISTED FOR SALE

2195 Pasadena Ave Long Beach, CA 90806

Sunrise Neighborhood
3 Beds
2 Baths
7,055 Sq Ft
7,310 Sq Ft Lot

Last Sold September 06, 2024

Last sale price $2,395,000 $339 Per Sq Ft

16 Days on Market

Highlights

  • No HOA
  • Cooling System Mounted To A Wall/Window
  • Garden
  • Long Beach Polytechnic High School Rated A
  • Laundry Room
  • 7 Car Garage

About This Home

As of September 2024

2195 Pasadena Ave. is an attractive and well-maintained investment property located in a high demand rental area.

Reasons to Consider:
-Attractive Mix of 1 Bedroom and 2 Bedroom Units
-Substantial Rental Upside
-6.5% Cap Rate on Current Rents
-7 Individual Garages
-Laundry Room & Garden Area

Last Agent to Sell the Property

Peter Gillin

Morgan Skenderian Brokerage Email: pdg@morganskenderian.com License #01433769 Listed on: 07/30/2024

Last Buyer's Agent

Molly Ly

Hyun Joo Hong, Broker License #01293467

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1964

Lot Details

  • 7,310 Sq Ft Lot
  • Two or More Common Walls
  • Garden
  • Density is 26-30 Units/Acre

Parking

  • 7 Car Garage
  • Parking Available

Home Design

  • Apartment
  • Entry on the 2nd floor

Interior Spaces

  • 7,055 Sq Ft Home
  • 2-Story Property
  • Laundry Room

Bedrooms and Bathrooms

  • 3 Bedrooms
  • 2 Bathrooms

Utilities

  • Cooling System Mounted To A Wall/Window
  • Wall Furnace
  • Natural Gas Connected

Listing and Financial Details

  • Tenant pays for cable TV, electricity, gas
  • Tax Lot 001
  • Tax Tract Number 28
  • Assessor Parcel Number 7208028001
  • $1,704 per year additional tax assessments

Community Details

Overview

  • No Home Owners Association
  • 10 Units
  • Poly High Subdivision

Amenities

  • Laundry Facilities

Building Details

  • 11 Separate Electric Meters
  • 11 Separate Gas Meters
  • 11 Separate Water Meters
  • Electric Expense $2,500
  • Fuel Expense $2,000
  • Gardener Expense $1,200
  • Insurance Expense $4,233
  • Maintenance Expense $17,626
  • Other Expense $1,704
  • Professional Management Expense $6,500
  • Trash Expense $2,500
  • Water Sewer Expense $1,500
  • New Taxes Expense $27,097
  • Operating Expense $66,860
  • Gross Income $220,320
  • Net Operating Income $146,851

Property Details

Home Type

Multi-Family

Year Built

Built in 1964

Lot Details

0

Parking

7

Listing Details

  • CapRate: 6.50
  • Professional Management Expense: 6500.00
  • Property Attached: Yes
  • Subdivision Name Other: Poly High (PH)
  • Water Sewer Expenses: 1500.00
  • Property Sub Type: Apartment
  • Property Type: Residential Income
  • Gardener Expense: 1200.00
  • Parcel Number: 7208028001
  • Year Built: 1964
  • Special Features: None

Interior Features

  • Fireplace: No
  • Stories: 2
  • Common Walls: 2+ Common Walls
  • Entry Level: 2
  • Price Per Square Foot: 339.48

Exterior Features

  • Pool Private: No

Garage/Parking

  • Garage Spaces: 7.00
  • Parking: Yes
  • Parking Features: Garage
  • Total Parking Spaces: 7.00

Utilities

  • Utilities: Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
  • Heating: Yes
  • Laundry: Yes
  • Electric: Electricity - On Property
  • Heating Type: Wall Furnace
  • Laundry Features: Common Area
  • Sewer: Public Sewer
  • Trash Expense: 2500.00
  • Water Source: Public
  • Cooling: Wall/Window Unit(s)
  • Cooling: Yes

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Common Interest: Community Apartment
  • Community Features: Sidewalks

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: 26-30 Units/Acre, Garden
  • Lot Size Sq Ft: 7310.00
  • Lot Size Acres: 0.1678
  • Latitude Manual: 33.79696800

Rental Info

  • Garage Rental Rate: 75.00
  • Tenant Pays: Cable TV, Electricity, Gas

Multi Family

  • Average1 Bed Area: 589 Square Feet
  • Average2 Bed Area: 850 Square Feet
  • Electric Expense: 2500.00
  • Fuel Expense: 2000.00
  • Garage Income: 150.00
  • Gross Income: 220320.00
  • Gross Multiplier: 10.33
  • Gross Operating Income: 213710.00
  • Gross Scheduled Income: 220320.00
  • Gross Spendable Income: 40519.00
  • Insurance Expense: 4233.00
  • Lot Size Area: 7310.0000 Square Feet
  • Maintenance Expense: 17626.00
  • Maintenance Percent: 8.00
  • Net Operating Income: 146851.00
  • Number Of Rented Garages: 2
  • Number Of Separate Electric Meters: 11
  • Number Of Separate Gas Meters: 11
  • Number Of Separate Water Meters: 11
  • Number Of Units Total: 10
  • Operating Expense: 66860.00
  • Operating Expense Percent: 30.30
  • Other Expense: 1704.00
  • Other Expense Description: Assemnts
  • Other Income1: 300.00
  • Other Income Description: Laundry Income
  • Rent Control: No
  • Total Expenses: 66860.00
  • Vacancy Allowance Rate: 3.00

Tax Info

  • New Taxes Expense: 27097.00
  • Tax Lot: 001
  • Tax Tract Number: 028
  • TaxOtherAnnualAssessmentAmount: 1704.00

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
09/06/2024 09/06/24 Sold $2,395,000 +5.3% $339 / Sq Ft
08/15/2024 08/15/24 Pending -- -- --
07/30/2024 07/30/24 For Sale $2,275,000 -- $322 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • P

    Seller's Agent in 2024

    Peter Gillin

    Morgan Skenderian

  • Molly Ly

    Buyer's Agent in 2024

    Molly Ly

    Hyun Joo Hong, Broker

    (562) 235-2205

    1 in this area

    29 Total Sales

    Molly Ly
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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PW24150467

California Regional Multiple Listing Service (CRMLS)
California Los Angeles County Long Beach 90806 Sunrise

2195 Pasadena Ave, Long Beach, CA

Not Listed for Sale

MultiFamily

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California Regional Multiple Listing Service (CRMLS) The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.

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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