NOT LISTED FOR SALE

2301 E 7th St Long Beach, CA 90804

Hellman Neighborhood

Estimated Value: $4,623,595

1 Bed
2 Baths
16,200 Sq Ft
$285/Sq Ft Est. Value

Last Sold October 24, 2017

Last sale price $3,050,000 $188 Per Sq Ft

Est. 52% increase in value since last sale

Current estimated payment $28,774/month

99 Days on Market

Highlights

  • 11,849 Sq Ft lot
  • Woodrow Wilson High School Rated A
  • Corner Lot

About This Home

As of October 2017

The East 7th St. Apartments is a mixed-use apartment community located in the Historic Rose Park District of Long Beach. The corner lot property is comprised of twelve apartments units and ten retail spaces. With over 20% upside in rents, the property offers investors a great opportunity to acquire a value-add asset in a strong non-rent controlled market.

Last Agent to Sell the Property

Robert Stepp

Keller Williams Realty Downey License #01456379 Listed on: 05/03/2017

Keller Williams Realty Downey

Last Buyer's Agent

John Alden

Alden Pacific Investments, Inc. License #02114291

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $49,969

Year Built

  • Built in 1922

Lot Details

  • 0.27 Acre Lot
  • Two or More Common Walls
  • Corner Lot

Home Design

  • 16,200 Sq Ft Home
  • Property Attached

Bedrooms and Bathrooms

  • 1 Bedroom
  • 2 Bathrooms

Additional Features

  • Urban Location
  • Septic Type Unknown

Listing and Financial Details

  • Tax Lot 13
  • Tax Tract Number 5769
  • Assessor Parcel Number 7262021012

Community Details

Overview

  • 22 Units

Building Details

  • 22 Separate Electric Meters
  • 22 Separate Gas Meters
  • Electric Expense $4,775
  • Insurance Expense $6,275
  • Maintenance Expense $1,200
  • Other Expense $775
  • Pest Control $575
  • Professional Management Expense $12,056
  • Supplies Expense $5,500
  • Trash Expense $2,800
  • Water Sewer Expense $4,775
  • Security Expense $125
  • New Taxes Expense $42,106
  • Operating Expense $81,727
  • Gross Income $241,110
  • Net Operating Income $159,383

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$49,969

Year Built

Built in 1922

Lot Details

0

Listing Details

  • Price Per Unit: 138636
  • Professional Management Expense: 12056.00
  • Property Attached: Yes
  • Security Expense: 125.00
  • Subdivision Name Other: Historic Rose Park
  • Supplies Expense: 5500.00
  • Water Sewer Expenses: 4775.00
  • Zoning: LBCNR
  • Property Type: Residential Income
  • Parcel Number: 7262021012
  • Year Built: 1922
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Common Walls: 2+ Common Walls
  • Price Per Square Foot: 188.27

Exterior Features

  • Pool Private: No

Utilities

  • Pest Control Expense: 575.00
  • Sewer: Unknown
  • Trash Expense: 2800.00
  • Water Source: Other

Condo/Co-op/Association

  • Community Features: Urban

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: Corner Lot
  • Lot Size Sq Ft: 11849.00

Multi Family

  • Electric Expense: 4775.00
  • Gross Income: 241110.00
  • Gross Scheduled Income: 253800.00
  • Insurance Expense: 6275.00
  • Maintenance Expense: 1200.00
  • Net Operating Income: 159383.00
  • Number Of Separate Electric Meters: 22
  • Number Of Separate Gas Meters: 22
  • Number Of Units Total: 22
  • Operating Expense: 81727.00
  • Other Expense: 775.00
  • Other Expense Description: Legal
  • Rent Control: No
  • Total Expenses: 81727.00

Tax Info

  • New Taxes Expense: 42106.00
  • Tax Census Tract: 5769.01
  • Tax Lot: 13
  • Tax Tract Number: 5769

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Oct 2, 2018
Sold by
Tam Chuck
Bought by
Ad Astra Investments Llc
Current Estimated Value
$4,623,595

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$2,461,000
Outstanding Balance
$879,620
Interest Rate
4.5%
Mortgage Type
Construction
Estimated Equity
$3,743,975

Purchase Details

Listed on
May 3, 2017
Closed on
Oct 12, 2017
Sold by
Catolico Redempta
Bought by
Tam Chuck
Seller's Agent
Robert Stepp
Keller Williams Realty Downey
Buyer's Agent
John Alden
Alden Pacific Investments, Inc.
List Price
$3,300,000
Sold Price
$3,050,000
Premium/Discount to List
-$250,000
-7.58%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
5.37%
Original Mortgage
$2,287,500
Interest Rate
3.78%
Mortgage Type
Commercial

Purchase Details

Closed on
Aug 2, 2012
Sold by
Jenkins Paul D
Bought by
Catolico Redempta and Redempta Catolico Trust 2006

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$900,000
Interest Rate
3.33%
Mortgage Type
Commercial

Purchase Details

Closed on
Oct 24, 2011
Sold by
Jenkins Bab
Bought by
Jenkins Bab and The Jenkins Trust

Purchase Details

Closed on
Dec 10, 1997
Sold by
Kirkpatrick Robert R
Bought by
Jenkins Mack and Jenkins Bab A
Source: Public Records

Range of Values:

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Average Value
Not Available
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

Date Buyer Sale Price Title Company
Ad Astra Investments Llc -- Ticor Title
Tam Chuck -- Ticor Title
Tam Chuck $3,050,000 North American Title
Catolico Redempta $1,585,000 Lawyers Title Company
Jenkins Bab -- None Available
Jenkins Mack $350,000 Chicago Title
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Ad Astra Investments Llc $2,461,000
Previous Owner Tam Chuck $2,287,500
Previous Owner Catolico Redempta $900,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft Prior Sale
10/24/2017 10/24/17 Sold $3,050,000 0.0% $188 / Sq Ft
07/18/2017 07/18/17 Price Changed $3,050,000 -7.6% $188 / Sq Ft
05/03/2017 05/03/17 For Sale $3,300,000 +123.0% $204 / Sq Ft
12/03/2012 12/03/12 Sold $1,480,000 -15.4% $91 / Sq Ft View Prior Sale
11/04/2012 11/04/12 Pending -- -- --
06/20/2012 06/20/12 For Sale $1,750,000 -- $108 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

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 $49,969 $3,670,051 $1,215,913 $2,454,138
2024 $49,969 $3,598,090 $1,192,072 $2,406,018
2023 $49,068 $3,527,541 $1,168,699 $2,358,842
2022 $46,111 $3,458,375 $1,145,784 $2,312,591
2021 $45,078 $3,390,565 $1,123,318 $2,267,247
2019 $42,262 $3,111,720 $1,030,200 $2,081,520
2018 $41,112 $3,050,720 $1,010,000 $2,040,720
2017 $23,369 $1,570,334 $445,634 $1,124,700
2016 $21,736 $1,539,545 $436,897 $1,102,648
2015 $20,938 $1,516,421 $430,335 $1,086,086
2014 -- $1,486,718 $421,906 $1,064,812
Source: Public Records

Agents Affiliated with this Home

  • Robert Stepp

    Seller's Agent in 2017

    Robert Stepp

    Keller Williams Realty Downey

    (310) 463-2916

    3 in this area

    72 Total Sales

    Robert Stepp
    Section Image

  • J

    Buyer's Agent in 2017

    John Alden

    Alden Pacific Investments, Inc.

    Section Image

  • S

    Seller's Agent in 2012

    Stephen Heri

    S A Heri, Inc.

See All Agents

Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PW17096424

California Regional Multiple Listing Service (CRMLS)

APN: 7262-021-012

California Los Angeles County Long Beach 90804 Hellman

2301 E 7th St, Long Beach, CA

This home is located at 2301 E 7th St, Long Beach, CA 90804 since 03 May 2017 and is currently estimated at $4,623,595, approximately $285 per square foot. This property was built in 1922. 2301 E 7th St is a home located in Los Angeles County with nearby schools including Burbank Elementary School, Woodrow Wilson High School, and St. Anthony Elementary 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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