$1,040,000
SOLD MAR 31, 2016
8 Beds
4 Baths
4,786 Sq Ft
6,134 Sq Ft Lot

Recently Sold

$217 Per Sq Ft

5% Below List Price

6 Days on Market

Highlights

  • Double Pane Windows
  • Laundry Room
  • Accessible Parking
  • Tile Countertops
  • No Interior Steps
  • 4 Attached Carport Spaces

About This Home

As of September 2018

Clean 7 unit, all 2bdr. building. Seller owned laundry facility, located on a predominately single family home street. First time on market since 1984. Seller/Listing Agent does not require a 1031 exchange upon sale.

Last Agent to Sell the Property

Reinhard Braunstein

Coldwell Banker Coastal Alliance License #00898983 Listed on: 01/20/2016

Last Buyer's Agent

Reinhard Braunstein

Coldwell Banker Coastal Alliance License #00898983 Listed on: 01/20/2016

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1961

Lot Details

  • 6,134 Sq Ft Lot
  • Property fronts an alley
  • No Common Walls
  • Block Wall Fence
  • Level Lot
  • Front Yard Sprinklers
  • Density is 6-10 Units/Acre

Home Design

  • Slab Foundation
  • Rolled or Hot Mop Roof

Interior Spaces

  • 4,786 Sq Ft Home
  • Double Pane Windows
  • Fire and Smoke Detector

Kitchen

  • Tile Countertops
  • Disposal

Flooring

  • Carpet
  • Vinyl

Bedrooms and Bathrooms

  • 8 Bedrooms
  • 4 Bathrooms

Laundry

  • Laundry Room
  • Dryer
  • Washer

Parking

  • 8 Parking Spaces
  • 4 Attached Carport Spaces
  • Parking Available
  • Assigned Parking

Accessible Home Design

  • Doors are 32 inches wide or more
  • No Interior Steps
  • Low Pile Carpeting
  • Accessible Parking

Outdoor Features

  • Exterior Lighting

Utilities

  • Heating System Uses Natural Gas
  • Wall Furnace
  • Vented Exhaust Fan

Listing and Financial Details

  • Tenant pays for gas, trash collection
  • Tax Lot 2021
  • Tax Tract Number 5992
  • Assessor Parcel Number 7126002014

Community Details

Overview

  • 7 Units

Building Details

  • 7 Leased Units
  • 8 Separate Electric Meters
  • 8 Separate Gas Meters
  • 1 Separate Water Meter
  • Electric Expense $500
  • Gardener Expense $1,200
  • Insurance Expense $2,000
  • Water Sewer Expense $6,000
  • New Taxes Expense $13,200
  • Gross Income $6,677
  • Net Operating Income $49,700

Property Details

Home Type

Multi-Family

Year Built

Built in 1961

Lot Details

0

Listing Details

  • CapRate: 4.52
  • Inclusions: Laundry: Washer and Dryer
  • Other Phone Description: 562-900-8295
  • Other Phone Number: 562 438-0910
  • Property Attached: No
  • Road Frontage Type: Alley
  • Road Surface Type: Paved
  • Security: Smoke Detector(s)
  • Subdivision Name Other: North Long Beach (NLB)
  • Water Sewer Expenses: 6000.00
  • Property Type: Residential Income
  • Gardener Expense: 1200.00
  • Parcel Number: 7126002014
  • Year Built: 1961
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Fireplace: No
  • Interior Amenities: Tile Counters
  • Common Walls: No Common Walls
  • Flooring: Carpet, Vinyl
  • Accessibility Features: 32 Inch Or More Wide Doors, Low Pile Carpeting, No Interior Steps, Parking
  • Levels: Two
  • Price Per Square Foot: 217.30
  • Window Features: Double Pane Windows

Exterior Features

  • Foundation: Slab
  • Exterior Features: Lighting
  • Fencing: Block
  • Pool Private: No
  • Roof: Rolled/Hot Mop

Garage/Parking

  • Carport Spaces: 4.00
  • Parking: Yes
  • Parking Features: Assigned, Attached Carport
  • Total Parking Spaces: 8.00

Utilities

  • Utilities: Electricity Available, Natural Gas Available, Sewer Connected, Water Connected
  • Sprinklers: Yes
  • Heating: Yes
  • Laundry: Yes
  • Appliances: Disposal, Vented Exhaust Fan
  • Heating Type: Natural Gas, Wall Furnace
  • Laundry Features: Dryer Included, Individual Room, Washer Included
  • Water Source: Public

Condo/Co-op/Association

  • Community Features: Curbs, Sidewalks, Street Lights

Lot Info

  • Lot Features: 6-10 Units/Acre, Front Yard, Level with Street, Sprinklers In Front
  • Lot Size Sq Ft: 6134.00
  • Price Per Lot Square Foot: 169.55
  • Lot Size Acres: 0.1410

Rental Info

  • Tenant Pays: Gas, Trash Collection

Multi Family

  • Electric Expense: 500.00
  • Gross Income: 6677.00
  • Gross Scheduled Income: 80100.00
  • Insurance Expense: 2000.00
  • Laundry Equipment Own Lease: Own
  • Lot Size Area: 6134.0000 Square Feet
  • Net Operating Income: 49700.00
  • Number Of Separate Electric Meters: 8
  • Number Of Separate Gas Meters: 8
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 7
  • Number Of Units Total: 7
  • Number With Disposal: 7
  • Operating Expense: 28000.00
  • Operating Expense Percent: 35.00
  • Rent Control: No
  • Total Actual Rent: 6575.00
  • Vacancy Allowance Rate: 3.00

Tax Info

  • New Taxes Expense: 13200.00
  • Taxes Percent: 1.21
  • Tax Lot: 2021
  • Tax Tract Number: 5992

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 Change Sq Ft Price
09/14/2018 09/14/18 Sold $1,725,000 -1.4% $360 / Sq Ft
05/15/2018 05/15/18 For Sale $1,750,000 +15.5% $366 / Sq Ft
03/31/2017 03/31/17 Sold $1,515,000 -2.2% $317 / Sq Ft
01/30/2017 01/30/17 Pending -- -- --
01/11/2017 01/11/17 For Sale $1,549,000 +48.9% $324 / Sq Ft
03/31/2016 03/31/16 Sold $1,040,000 -5.5% $217 / Sq Ft
01/26/2016 01/26/16 Pending -- -- --
01/20/2016 01/20/16 For Sale $1,100,000 -- $230 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PW16012509

California Regional Multiple Listing Service (CRMLS)