NOT LISTED FOR SALE

Estimated Value: $2,101,000 - $2,526,000

9 Beds
8 Baths
4,246 Sq Ft
$524/Sq Ft Est. Value

Sale Details

Date Sold: October 30, 2023

Last sale price $2,050,000 $483 Per Sq Ft

Est. 8% increase in value since last sale

Current estimated payment $14,239 / mo

60 Days on Market

Highlights

  • Traditional Architecture
  • Wood Flooring
  • Corner Lot
  • Fremont Elementary School Rated A
  • End Unit
  • Lawn

About This Home

As of October 2023

Incredible opportunity to own a 4-unit residential property in the prestigious Belmont Heights neighborhood. There are 4 separate electric meters on the subject property - one for each unit. There are only 2 gas meters on the property. The House Meter (Meter No. 0275092236), provides gas to Units A, C, and D, the central water heater, and the common laundry. Landlord pays for the house meter, along with water, sewer, and trash service for the property. Second gas meter (Meter No. 0275092235) services only Unit B, and the tenant in Unit B is responsible for paying for their own gas service. Unit A, B, and C have gas powered Stoves. Unit D has an electric stove. Unit B is now vacant and will be delivered vacant at close of escrow. Photos of the units on MLS are from 2021 & 2022 before they were rented. Minutes away from Woodrow Wilson High School, Blair Field, Recreation Area, California State University, Long Beach City Beach, Colorado Lagoon, schools, shopping centers, restaurants, and transportation links. The property is under rent control subject to California Assembly Bill 1482. Property is being sold AS IS and WHERE IS with current the 3 tenant(s) in place. Buyer to conduct their own investigations.

Last Agent to Sell the Property

Vinny Jain

Ingenious Asset Group, Inc. License #01413466 Listed on: 07/27/2023

Last Buyer's Agent

Okechukwu Chinke

Citywide Mortgage & Realty License #00897567

Home Details

Home Type

  • Single Family

Year Built

  • Built in 1977

Lot Details

  • 5,569 Sq Ft Lot
  • End Unit
  • East Facing Home
  • Corner Lot
  • Rectangular Lot
  • Level Lot
  • Lawn
  • Property is zoned LBR1N

Parking

  • 4 Car Attached Garage

Home Design

  • Traditional Architecture
  • Shingle Roof
  • Wood Siding
  • Stucco

Interior Spaces

  • 4,246 Sq Ft Home
  • 1-Story Property
  • Ceiling Fan
  • Recessed Lighting
  • Double Door Entry
  • Living Room with Fireplace
  • Dining Area
  • Laundry Room
  • Property Views

Kitchen

  • Oven or Range
  • Range with Range Hood
  • Microwave
  • Dishwasher

Flooring

  • Wood
  • Carpet
  • Tile
  • Vinyl

Bedrooms and Bathrooms

  • 9 Bedrooms
  • 8 Bathrooms
  • Bathtub with Shower
  • Shower Only

Home Security

  • Carbon Monoxide Detectors
  • Fire and Smoke Detector

Location

  • City Lot

Utilities

  • Heating System Mounted To A Wall or Window
  • Property is located within a water district
  • Gas Water Heater
  • Sewer in Street

Community Details

  • Ingenious Asset Group, Inc. Association
  • Rent Control

Listing and Financial Details

  • Assessor Parcel Number 7255-028-027

Home Details

Home Type

Single Family

Year Built

Built in 1977

Lot Details

5,569 Sq Ft Lot

Parking

4

Listing Details

  • Property Type: Residential Income
  • Style: Traditional
  • Levels: One
  • Street Number Display: Yes
  • Advertising Remarks: Incredible opportunity to own a 4-unit residential property in the prestigious Belmont Heights neighborhood. There are 4 separate electric meters on the subject property - one for each unit. There are only 2 gas meters on the property. The House Meter (Meter No. 0275092236), provides gas to Units A, C, and D, the central water heater, and the common laundry. Landlord pays for the house meter, along with water, sewer, and trash service for the property. Second gas meter (Meter No. 0275092235) services only Unit B, and the tenant in Unit B is responsible for paying for their own gas service. Unit A, B, and C have gas powered Stoves. Unit D has an electric stove. Unit B is now vacant and will be delivered vacant at close of escrow. Property is being sold AS IS and WHERE IS with current the 3 tenant(s) in place. Buyer to conduct their own investigations.
  • Exclusions: Any and all equipment belonging to the tenant(s).
  • Living Area: 4246
  • Lot Acreage: 0.1279
  • Year Built: 1977
  • State Abbrv: CA
  • Special Features: None
  • Property Sub Type: Detached
  • Stories: 0

Interior Features

  • Interior Amenities: Recessed Lighting
  • Fireplace Rooms: Living Room
  • Flooring: Vinyl, Tile, Carpet, Wood
  • Appliances: Range, Range Hood, Microwave
  • Bedrooms: 9
  • Common Walls: Detached/No Common Walls
  • Bathroom Features: Shower Over Tub, Shower Stall
  • Kitchen Features: Counter Top
  • Laundry: Laundry Area
  • Total Bathrooms: 8.00
  • Equipment: Ceiling Fan, Range/Oven, Dishwasher, Microwave, Refrigerator
  • Price Per S Q F T: 469.85

Exterior Features

  • Direction Faces: East
  • Construction: Concrete, Stucco, Wood Siding
  • Other Features: End Unit, Double Door Entry
  • Other Structures: None
  • Pool: No
  • Roof: Shingle
  • Spa Yn: No
  • View: Walk Street
  • View: Yes

Garage/Parking

  • Garage Spaces: 4
  • Covered Parking: 4
  • Parking Garage: Garage - 4+ Car, Garage Is Attached, Covered Parking
  • Total Parking: 4

Utilities

  • Water Heater: Water Heater Unit, Gas
  • Cooling: Ceiling Fan
  • Heating: Fireplace, Wall
  • Security: Carbon Monoxide Detector(s), Smoke Detector
  • Sewer: In Street
  • Water: District
  • Water Heaters: Yes

Condo/Co-op/Association

  • Management Company: Ingenious Asset Group, Inc.
  • Mgmt Co Phone: 3102072288|

Lot Info

  • Assessed Improvement Percent: 30.43
  • Assessed Improvement Value: 406136
  • Assessed Land Percent: 69.57
  • Assessed Land Value: 928319
  • Total Assessed Value: 1334455
  • Assessor Parcel Number: 7255-028-027
  • Lot Description: Lawn, Lot-Level/Flat, Lot Shape-Rectangular, Walk Street
  • Lot Location: City, Corner Lot, Flats
  • Lot Size Area: 5569

Rental Info

  • Total Actual Rent: 10090.00
  • Rent Control: Yes

Multi Family

  • Unit Type: 2106, 2107
  • Gross Rent Multiplier: 16.41
  • Number Of Units: 4
  • Type Of Units: Residential
  • Vacancy Allow: 6079
  • Vacancy Allow Percent: 5.00

Ownership History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Name Owned For Owner Type

Purchase Details

Listed on
Jul 27, 2023
Closed on
Sep 29, 2023
Sold by
Bought by
Seller's Agent
Vinny Jain
Ingenious Asset Group, Inc.
Buyer's Agent
Okechukwu Chinke
Citywide Mortgage & Realty
List Price
$1,995,000
Sold Price
$2,050,000
Premium/Discount to List
$55,000
2.76%
Views
155
Current Estimated Value
$2,223,724

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$173,724
Avg. Annual Appreciation
3.13%
Original Mortgage
$1,230,000
Outstanding Balance
$1,206,086
Interest Rate
7.18%
Mortgage Type
New Conventional
Estimated Equity
$1,017,638

Purchase Details

Listed on
Feb 18, 2013
Closed on
Feb 27, 2013
Sold by
Bought by
Seller's Agent
Adam Huss
Huss Real Estate
Buyer's Agent
Guillermo Rodriguez
Guillermo Rodriguez, Broker
List Price
$1,200,000
Sold Price
$1,150,000
Premium/Discount to List
-$50,000
-4.17%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
5.59%

Purchase Details

Closed on
Dec 29, 2012
Sold by
Bought by

Purchase Details

Closed on
Aug 19, 2011
Sold by
Bought by

Purchase Details

Closed on
Jun 2, 2006
Sold by
Bought by

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$715,000
Interest Rate
6.56%
Mortgage Type
Fannie Mae Freddie Mac

Purchase Details

Closed on
May 24, 2005
Sold by
Bought by

Purchase Details

Closed on
Mar 4, 2005
Sold by
Bought by

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,026,000
Interest Rate
5.6%
Mortgage Type
Negative Amortization

Purchase Details

Closed on
Jan 28, 2004
Sold by
Bought by

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$912,000
Interest Rate
4.39%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
Jan 15, 2004
Sold by
Bought by

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$912,000
Interest Rate
4.39%
Mortgage Type
Purchase Money Mortgage
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Purchase History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Buyer Sale Price Title Company
$2,050,000 Old Republic Title Company
$1,150,000 Fidelity National Title
-- None Available
$852,000 Chicago Title Company
-- Alliance Title Company
-- --
$1,310,000 Chicago Title
-- Chicago Title Co
$1,140,000 Chicago Title Co
Source: Public Records

Mortgage History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Status Borrower Loan Amount
Open $1,230,000
Previous Owner $715,000
Previous Owner $1,026,000
Previous Owner $912,000
Previous Owner $912,000
Source: Public Records

Property History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Event Price List to Sale Price per Sq Ft Prior Sale
10/30/2023 10/30/23 Sold $2,050,000 +2.8% $483 / Sq Ft
09/25/2023 09/25/23 Pending -- -- --
07/27/2023 07/27/23 For Sale $1,995,000 +73.5% $470 / Sq Ft
03/19/2013 03/19/13 Sold $1,150,000 -4.2% $271 / Sq Ft View Prior Sale
02/22/2013 02/22/13 Pending -- -- --
02/18/2013 02/18/13 For Sale $1,200,000 -- $283 / Sq Ft
Source: The MLS

Tax History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

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 $27,576 $2,091,000 $836,400 $1,254,600
2024 $26,381 $2,050,000 $820,000 $1,230,000
2023 $17,872 $1,361,143 $946,885 $414,258
2022 $16,777 $1,334,455 $928,319 $406,136
2021 $16,437 $1,308,290 $910,117 $398,173
2019 $16,203 $1,270,787 $883,123 $387,664
2018 $15,766 $1,245,896 $865,807 $380,089
2016 $14,494 $1,196,269 $832,188 $364,081
2015 $13,910 $1,178,301 $819,688 $358,613
2014 $13,814 $1,155,221 $803,632 $351,589
Source: Public Records

Agents Affiliated with this Home

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Map

Source: The MLS

MLS Number: 23-293815

The MLS

APN: 7255-028-027

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