NOT LISTED FOR SALE

Estimated Value: $678,920

-- Bed
2 Baths
1,970 Sq Ft
$345/Sq Ft Est. Value

Last Sold July 05, 2022

Last sale price $620,000 $315 Per Sq Ft

Est. 10% increase in value since last sale

Current estimated payment $4,257/month

273 Days on Market

Highlights

  • No HOA
  • Attached Carport
  • Rectangular Lot
  • Cooling Available
  • Turnkey
  • Carpet

About This Home

As of July 2022

This Wrigley District mixed use property offers flexibility and limitless possibilities as an investment. The property consists of 2 office/retail spaces in the front and two residential studios, both with their own one car garage in the back.
The front offices are split roughly 60/40. The south office is already set up as a PO Box office with direct, private and secured access from the front of the building. Beyond a secondary, secured door, is a larger private office area with its own designated bathroom. Laminate flooring occupy the office and PO Box space and tile flooring has just been laid in the bathroom.
The north portion is divided into an larger office with 4 separate office rooms with doors, a reception or waiting area, kitchen space and dedicated separate bathroom. New carpeting throughout the offices and recently laid tile flooring in the bathroom and kitchen areas. The second office side is already set up as a PO Box mail center with additional back office and private bathroom. There are 270 small sized mail boxes, 6 medium sized and 16 large sized boxes. This PO Box business, if full could earn over $4000 per month in revenue. The city permitted uses for these two front offices is extensive, we recommend you visit the Long Beach Municode site, under Division I permitted uses for CNP zoned properties.
The back two studio units have just finished their remodels and are in move in condition. Both have their own, private enclosed garages with ample over head storage capacity.
With approximately 20,000 cars by daily, this is a great location. The property is zoned CNP.

Last Agent to Sell the Property

Robert Van Der Goes

Seven Gables Real Estate License #01413282 Listed on: 08/25/2021

Seven Gables Real Estate

Last Buyer's Agent

Robert Van Der Goes

Seven Gables Real Estate License #01413282 Listed on: 08/25/2021

Seven Gables Real Estate

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1929

Lot Details

  • 3,301 Sq Ft Lot
  • Property fronts an alley
  • No Common Walls
  • Rectangular Lot
  • Level Lot

Parking

  • 2 Car Garage
  • Attached Carport
  • On-Street Parking

Home Design

  • Entry on the 1st floor
  • Turnkey
  • Flat Roof Shape

Interior Spaces

  • 2 Bathrooms
  • 1,970 Sq Ft Home
  • 1-Story Property

Flooring

  • Carpet
  • Laminate

Utilities

  • Cooling Available
  • Natural Gas Connected

Additional Features

  • Rain Gutters
  • Urban Location

Listing and Financial Details

  • Tax Lot G
  • Tax Tract Number 5762
  • Assessor Parcel Number 7205016018

Community Details

Overview

  • No Home Owners Association
  • 2 Buildings
  • 4 Units
  • Wrigley Area Subdivision

Building Details

  • Rent Control
  • 2 Separate Electric Meters
  • 2 Separate Gas Meters
  • 2 Separate Water Meters
  • Electric Expense $840
  • Insurance Expense $1,500
  • Trash Expense $580
  • Water Sewer Expense $580
  • New Taxes Expense $8,700
  • Operating Expense $12,200
  • Net Operating Income $51,400

Property Details

Home Type

Multi-Family

Year Built

Built in 1929

Lot Details

0

Parking

2

Listing Details

  • Assessments: Yes
  • Property Attached: No
  • Road Frontage Type: Alley, City Street
  • Road Surface Type: Paved
  • Subdivision Name Other: Wrigley Area (WR)
  • View: No
  • Water Sewer Expenses: 580.00
  • Property Condition: Turnkey
  • Property Type: Residential Income
  • Parcel Number: 7205016018
  • Year Built: 1929
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Fireplace: No
  • Stories: 1
  • Common Walls: No Common Walls
  • Flooring: Carpet, Laminate
  • Entry Level: 1
  • Levels: One
  • Price Per Square Foot: 314.72
  • Room Type: Kitchen

Exterior Features

  • Pool Private: No
  • Roof: Flat
  • Spa: No

Garage/Parking

  • Garage Spaces: 2.00
  • Parking Features: Attached Carport, Street
  • Total Parking Spaces: 2.00

Utilities

  • Utilities: Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
  • Laundry: No
  • Electric: Standard
  • Sewer: Public Sewer
  • Trash Expense: 580.00
  • Water Source: Public
  • Cooling: Yes

Condo/Co-op/Association

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

Lot Info

  • Land Lease: No
  • Lot Features: Level with Street, Rectangular Lot, Level
  • Lot Size Sq Ft: 3301.00
  • Lot Size Acres: 0.0758

Multi Family

  • Average Studio Area: 525 Square Feet
  • Electric Expense: 840.00
  • Gross Scheduled Income: 63600.00
  • Insurance Expense: 1500.00
  • Lot Size Area: 3301.0000 Square Feet
  • Net Operating Income: 51400.00
  • Number Of Separate Electric Meters: 2
  • Number Of Separate Gas Meters: 2
  • Number Of Separate Water Meters: 2
  • Number Of Units Total: 4
  • Number With Carpet: 3
  • Operating Expense: 12200.00
  • Rent Control: Yes
  • Total Expenses: 12200.00

Tax Info

  • New Taxes Expense: 8700.00
  • Tax Lot: G
  • Tax Tract Number: 5762

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Aug 25, 2021
Closed on
May 17, 2022
Sold by
Charlotte Lucas-Perez Living Trust and Lucas-Perez Charlotte
Bought by
Lbc Roots Llc
Seller's Agent
Robert Van Der Goes
Seven Gables Real Estate
Buyer's Agent
Robert Van Der Goes
Seven Gables Real Estate
List Price
$750,000
Sold Price
$620,000
Premium/Discount to List
-$130,000
-17.33%
Current Estimated Value
$678,920

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$58,920
Avg. Annual Appreciation
2.65%
Original Mortgage
$527,000
Interest Rate
5.25%
Mortgage Type
Small Business Administration

Purchase Details

Closed on
Feb 16, 2010
Sold by
Lucas Perez Charlotte and Lucas Charlotte Perez
Bought by
Lucas Perez Charlotte and Charlotte Lucas Perez Living Trust
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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Average Value
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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

Date Buyer Sale Price Title Company
Lbc Roots Llc $620,000 First American Title Company O
Lucas Perez Charlotte -- None Available
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Lbc Roots Llc $527,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
07/05/2022 07/05/22 Sold $620,000 -8.8% $315 / Sq Ft
02/24/2022 02/24/22 Price Changed $680,000 -6.2% $345 / Sq Ft
10/13/2021 10/13/21 Price Changed $725,000 -6.5% $368 / Sq Ft
08/30/2021 08/30/21 Price Changed $775,000 +3.3% $393 / Sq Ft
08/25/2021 08/25/21 For Sale $750,000 -- $381 / 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 $8,399 $645,048 $343,332 $301,716
2024 $8,399 $632,400 $336,600 $295,800
2023 $8,257 $620,000 $330,000 $290,000
2022 $2,483 $164,499 $119,461 $45,038
2021 $2,420 $161,274 $117,119 $44,155
2019 $2,436 $156,494 $113,647 $42,847
2018 $2,264 $153,426 $111,419 $42,007
2016 $2,078 $147,471 $107,094 $40,377
2015 $2,003 $145,257 $105,486 $39,771
2014 $1,994 $142,412 $103,420 $38,992
Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: OC20239212

California Regional Multiple Listing Service (CRMLS)

APN: 7205-016-018