NOT LISTED FOR SALE

2275 Pine Ave Unit 8 Long Beach, CA 90806

Southeast Wrigley Neighborhood
8 Beds
6 Baths
5,198 Sq Ft
6,317 Sq Ft Lot

Last Sold August 20, 2015

Last sale price $1,150,000 $221 Per Sq Ft

25 Days on Market

Highlights

  • Property is near public transit
  • Traditional Architecture
  • Laundry Room
  • Long Beach Polytechnic High School Rated A
  • No HOA
  • Tile Flooring

About This Home

As of August 2015

Fantastic 8 unit building in great part of Wrigley. 2 2-bedroom units and 6 1-bedroom units. This part of Pine has a few multi unit buildings and primarily single family residences. Smooth running building has no deferred maintenance. On site manager (Mgr = unit #1 rents for only $650) keeps it in tip top shape! Separately metered for electric. Laundry room and relaxing courtyard for tenants enjoyment. 3 enclosed garages at the front of the building and 4 car ports at the back of the building. Definite upside potential for rents. Income Actual - Expenses Estimated. Proforma rent for the 1 Bedrooms is $950 and for the 2 bedrooms is $1150. Total Proforma income is $8100/mo - $97,200/yr. Proforma Cap rate = 6.07% Proforma GRM = 11.98

Last Agent to Sell the Property

Julie Hughes

Realty One Group Homelink License #01360644 Listed on: 05/17/2015

Realty One Group Homelink

Last Buyer's Agent

Julie Hughes

Realty One Group Homelink License #01360644 Listed on: 05/17/2015

Realty One Group Homelink

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1964

Lot Details

  • 6,317 Sq Ft Lot
  • Two or More Common Walls
  • Landscaped

Parking

  • 3 Car Garage
  • 4 Carport Spaces

Home Design

  • Traditional Architecture
  • Property Attached
  • Entry on the 1st floor
  • Composition Roof

Interior Spaces

  • 5,198 Sq Ft Home
  • 2-Story Property
  • Ceiling Fan
  • Electric Range
  • Laundry Room

Flooring

  • Carpet
  • Tile

Bedrooms and Bathrooms

  • 8 Bedrooms
  • 6 Bathrooms

Additional Features

  • Rain Gutters
  • Property is near public transit
  • Wall Furnace

Listing and Financial Details

  • Tenant pays for electricity
  • Legal Lot and Block 16 / A
  • Tax Tract Number 5731
  • Assessor Parcel Number 7205020016

Community Details

Overview

  • No Home Owners Association
  • 8 Units

Amenities

  • Laundry Facilities

Building Details

  • 8 Leased Units
  • 9 Separate Electric Meters
  • 1 Separate Gas Meter
  • 1 Separate Water Meter
  • Gross Income $7,445
  • Net Operating Income $64,994

Property Details

Home Type

Multi-Family

Year Built

Built in 1964

Lot Details

0

Parking

3

Listing Details

  • Assessments: Yes
  • CapRate: 5.58
  • Other Phone Description: 7143935055
  • Other Phone Number: 7143935055
  • Property Attached: Yes
  • Road Surface Type: Alley Paved
  • Subdivision Name Other: Wrigley Area (WR)
  • Architectural Style: Traditional
  • Property Type: Residential Income
  • Parcel Number: 7205020016
  • Year Built: 1964
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Fireplace: No
  • Interior Amenities: Ceiling Fan(s)
  • Stories: 2
  • Common Walls: 2+ Common Walls
  • Flooring: Carpet, Tile
  • Appliances: Yes
  • Entry Level: 1
  • Levels: Two
  • Price Per Square Foot: 221.24

Exterior Features

  • Pool Private: No
  • Roof: Composition
  • Spa: No

Garage/Parking

  • Carport Spaces: 4.00
  • Garage Spaces: 3.00
  • Total Parking Spaces: 7.00

Utilities

  • Utilities: Sewer Available
  • Heating: Yes
  • Laundry: Yes
  • Appliances: Electric Range
  • Heating Type: Wall Furnace
  • Laundry Features: Community
  • Water Source: Public

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Community Features: Curbs, Gutters

Lot Info

  • Lot Features: Landscaped, Near Public Transit
  • Lot Size Sq Ft: 6317.00
  • Price Per Lot Square Foot: 182.05
  • Lot Size Acres: 0.1450

Rental Info

  • Tenant Pays: Electricity

Multi Family

  • Gross Income: 7445.00
  • Gross Multiplier: 13.04
  • Gross Scheduled Income: 89340.00
  • Laundry Equipment Own Lease: Own
  • Lot Size Area: 6317.0000 Square Feet
  • Net Operating Income: 64994.00
  • Number Of Separate Electric Meters: 9
  • Number Of Separate Gas Meters: 1
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 8
  • Number Of Units Total: 8
  • Operating Expense: 21664.00
  • Operating Expense Percent: 25.00
  • Rent Control: No
  • Total Actual Rent: 7345.00
  • Vacancy Allowance: 2680
  • Vacancy Allowance Rate: 3.00

Tax Info

  • Tax Block: A
  • Tax Lot: 16
  • Tax Tract Number: 5731
  • Tax Year: 2013

Range of Values:

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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
08/20/2015 08/20/15 Sold $1,150,000 -1.3% $221 / Sq Ft
06/11/2015 06/11/15 Pending -- -- --
05/17/2015 05/17/15 For Sale $1,165,000 -- $224 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Julie Hughes

    Seller's Agent in 2015

    Julie Hughes

    Realty One Group Homelink

    (714) 393-5055

    24 Total Sales

    Julie Hughes
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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PW15105816

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

2275 Pine Ave Unit 8, Long Beach, CA

This home is located at 2275 Pine Ave Unit 8, Long Beach, CA 90806 since 17 May 2015. This property was built in 1964. 2275 Pine Ave Unit 8 is a home located in Los Angeles County with nearby schools including Jackie Robinson Academy, Long Beach Polytechnic High School, and We the People High School.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

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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