A
Seller's Agent in 2023
Andrew McAllister
eXp Realty of Greater L.A
(562) 423-8134
2 in this area
17 Total Sales
2247 Earl Ave Long Beach, CA 90806
Southeast Wrigley Neighborhood
7
Beds
7
Baths
5,014
Sq Ft
5,898
Sq Ft Lot
Highlights
- Wood Flooring
- No HOA
- Landscaped
- Long Beach Polytechnic High School Rated A
- Laundry Room
- 4 Car Garage
About This Home
As of March 2023This is a unique opportunity to purchase a partially stabilized 7-unit asset in a core Southern CA market with real upside to a 6.37% cap rate. Current ownership has established a proven renovation plan by remodeling 4 out of 7 units and achieved market rents for only 57% of the building. Leaving an additional 29% upside in rents for a new owner to capitalize on. Some improvements include high end kitchen & bathroom remodels in four units, added mini split AC/heaters in two units, added in-unit washer dryers in two units, added in-unit sub panels in three units, installed artificial turf in front yard and added drought tolerant landscaping with drip new irrigation system. The building has a diverse unit mix comprised of (1) 2BD/1BA, (5) 1BD/1BA, (1) Studio units and (4) on-site garages.
Last Agent to Sell the Property
eXp Realty of Greater L.A License #01946829 Listed on: 11/02/2022
Property Details
Home Type
- Apartment
Year Built
- Built in 1955
Lot Details
- 5,900 Sq Ft Lot
- No Common Walls
- Landscaped
- Level Lot
- Front Yard
Parking
- 4 Car Garage
- Parking Available
- Single Garage Door
Home Design
- Composition Roof
Interior Spaces
- 5,014 Sq Ft Home
- 2-Story Property
- Gas Range
- Laundry Room
Flooring
- Wood
- Vinyl
Bedrooms and Bathrooms
- 7 Bedrooms
- 7 Bathrooms
Outdoor Features
- Exterior Lighting
- Rain Gutters
Location
- Urban Location
Utilities
- Combination Of Heating Systems
- Wall Furnace
- Natural Gas Connected
Listing and Financial Details
- Tenant pays for electricity, gas
- Legal Lot and Block 20 / B
- Tax Tract Number 11934
- Assessor Parcel Number 7205019022
- $1,225 per year additional tax assessments
Community Details
Overview
- No Home Owners Association
- 7 Units
- Wrigley Area Subdivision
Amenities
- Laundry Facilities
Building Details
- 6 Leased Units
- 7 Separate Electric Meters
- 7 Separate Gas Meters
- 1 Separate Water Meter
- Electric Expense $644
- Fuel Expense $1,302
- Gardener Expense $1,200
- Insurance Expense $3,259
- Maintenance Expense $5,250
- Other Expense $1,750
- Pest Control $480
- Professional Management Expense $6,386
- Trash Expense $576
- Water Sewer Expense $1,920
- New Taxes Expense $23,252
- Operating Expense $46,477
- Gross Income $132,999
- Net Operating Income $82,572
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Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft | Prior Sale |
|---|---|---|---|---|---|
| 03/21/2023 03/21/23 | Sold | $1,858,000 | +0.4% | $371 / Sq Ft | |
| 03/20/2023 03/20/23 | Pending | -- | -- | -- | |
| 12/05/2022 12/05/22 | Price Changed | $1,850,000 | -2.4% | $369 / Sq Ft | |
| 11/02/2022 11/02/22 | For Sale | $1,895,000 | +19.9% | $378 / Sq Ft | |
| 02/17/2022 02/17/22 | Sold | $1,580,000 | -1.3% | $315 / Sq Ft | View Prior Sale |
| 01/21/2022 01/21/22 | For Sale | $1,600,000 | +152.0% | $319 / Sq Ft | |
| 02/08/2012 02/08/12 | Sold | $635,000 | -16.3% | $127 / Sq Ft | View Prior Sale |
| 01/20/2012 01/20/12 | Pending | -- | -- | -- | |
| 10/12/2011 10/12/11 | For Sale | $759,000 | -- | $151 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
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 | $25,008 | $1,933,062 | $966,531 | $966,531 |
| 2024 | $25,008 | $1,895,160 | $947,580 | $947,580 |
| 2023 | $21,397 | $1,611,600 | $816,000 | $795,600 |
| 2022 | $10,238 | $751,585 | $355,079 | $396,506 |
| 2021 | $10,002 | $736,849 | $348,117 | $388,732 |
| 2019 | $9,859 | $715,256 | $337,793 | $377,463 |
| 2018 | $9,555 | $701,237 | $331,170 | $370,067 |
| 2016 | $8,783 | $673,759 | $318,311 | $355,448 |
| 2015 | $8,446 | $663,639 | $313,530 | $350,109 |
| 2014 | $8,418 | $650,640 | $307,389 | $343,251 |
Source: Public Records
Agents Affiliated with this Home
-
Andrew McAllister
-
Nina Le
Buyer's Agent in 2023
Nina Le
Buckingham Investments, Inc
(818) 415-9362
1 in this area
16 Total Sales
-
Betsy Hutchinson
Seller's Agent in 2022
Betsy Hutchinson
First Team Real Estate
(562) 833-3132
1 in this area
35 Total Sales
-
Drew McAllister
Buyer's Agent in 2022
Drew McAllister
Nationwide Real Estate Execs
(562) 528-8105
1 in this area
14 Total Sales
-
Marna Brennan
Seller's Agent in 2012
Marna Brennan
Marna Brennan, Broker
(562) 621-0903
1 Total Sale
-
Cindy Ludwig
C
Buyer's Agent in 2012
Cindy Ludwig
First Team Real Estate
(310) 849-8515
12 Total Sales
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: RS22234336
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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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