NOT LISTED FOR SALE

240 Linden Ave Long Beach, CA 90802

East Village Neighborhood

Estimated Value: $1,512,000 - $1,954,000

5 Beds
5 Baths
3,390 Sq Ft
$500/Sq Ft Est. Value

Sale Details

Date Sold: February 15, 2019

Last sale price $1,265,000 $373 Per Sq Ft

Est. 34% increase in value since last sale

Current estimated payment $11,174 / mo

36 Days on Market

Highlights

  • 0.09 Acre Lot
  • 5-minute walk to 1St Street Station
  • Rectangular Lot
  • Long Beach Polytechnic High School Rated A

About This Home

As of February 2019

240 Linden Avenue, an eight-unit* apartment building in Long Beach, California. The property is well-located in downtown Long Beach's vibrant East Village Arts District conveniently near numerous dining, shopping and retail opportunities. 240 Linden Avenue is located within an Opportunity Zone, which may offer a new investor significant tax benefits; for more detail, please contact the listing agent. Additionally, this area of Long Beach has a 1:1 parking requirement, whereas most of Long Beach is 2:1.
240 Linden Avenue offers eight units, including three studios, one one-bed/one-bath, two two-bed/two-bath units. Four of the units are non-conforming. Unit features include granite countertops, tile flooring, wall heaters, and A/C units. The property also features on-site laundry, a two-car garage, and three new water heaters.
This property presents an excellent opportunity for an investor to acquire an asset well-located in a strong rental market and capture substantial potential upside in rents.

Please request and review a copy of the Offering Memorandum for this property for a detailed explanation and description of this investment and its underwriting.

Last Agent to Sell the Property

Steve Bogoyevac

Steven M. Bogoyevac, Broker License #01332755 Listed on: 01/10/2019

Last Buyer's Agent

Steve Bogoyevac

Steven M. Bogoyevac, Broker License #01332755 Listed on: 01/10/2019

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1905

Lot Details

  • 3,757 Sq Ft Lot
  • No Common Walls
  • Rectangular Lot

Parking

  • 6 Open Parking Spaces
  • 2 Car Garage

Home Design

  • 3,390 Sq Ft Home

Bedrooms and Bathrooms

  • 5 Bedrooms
  • 5 Bathrooms

Additional Features

  • Laundry in unit
  • Urban Location

Listing and Financial Details

  • Tax Lot 1012
  • Assessor Parcel Number 7281015028

Community Details

Building Details

  • Operating Expense $38,704
  • Gross Income $102,177
  • Net Operating Income $63,473

Additional Features

  • 8 Units
  • Laundry Facilities

Property Details

Home Type

Multi-Family

Year Built

Built in 1905

Lot Details

3,757 Sq Ft Lot

Parking

2

Listing Details

  • Property Attached: No
  • Subdivision Name Other: East Village
  • Zoning: LBPD30
  • Property Type: Residential Income
  • Parcel Number: 7281015028
  • Year Built: 1905
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Common Walls: No Common Walls
  • Price Per Square Foot: 373.16

Exterior Features

  • Pool Private: No

Garage/Parking

  • Garage Spaces: 2.00
  • Total Parking Spaces: 8.00
  • Uncovered Spaces: 6.00

Utilities

  • Laundry: Yes
  • Laundry Features: Community
  • Sewer: Public Sewer
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No
  • Community Features: Urban

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: Rectangular Lot
  • Lot Size Sq Ft: 3757.00
  • Lot Size Acres: 0.0862

Multi Family

  • Gross Income: 102177.00
  • Gross Scheduled Income: 104100.00
  • Lot Size Area: 3757.0000 Square Feet
  • Net Operating Income: 63473.00
  • Number Of Units Total: 8
  • Operating Expense: 38704.00
  • Rent Control: No
  • Total Expenses: 38704.00

Tax Info

  • Tax Census Tract: 5762.00
  • Tax Lot: 1012

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
Jan 10, 2019
Closed on
Jan 18, 2019
Sold by
Bought by
Seller's Agent
Steve Bogoyevac
Steven M. Bogoyevac, Broker
Buyer's Agent
Steve Bogoyevac
Steven M. Bogoyevac, Broker
List Price
$1,375,000
Sold Price
$1,265,000
Premium/Discount to List
-$110,000
-8%
Current Estimated Value
$1,695,982

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$430,982
Avg. Annual Appreciation
4.05%

Purchase Details

Closed on
Apr 12, 2013
Sold by
Bought by

Purchase Details

Closed on
Oct 2, 1996
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
$58,000
Interest Rate
8.11%

Purchase Details

Closed on
Nov 4, 1993
Sold by
Bought by
Source: Public Records

Range of Values:

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

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
$1,265,000 Ticor Title
-- None Available
$67,000 North American 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
Previous Owner $58,000
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
02/15/2019 02/15/19 Sold $1,265,000 -8.0% $373 / Sq Ft
01/10/2019 01/10/19 For Sale $1,375,000 -- $406 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

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 $24,151 $1,697,932 $1,103,656 $594,276
2024 $23,108 $1,664,640 $1,082,016 $582,624
2023 $22,683 $1,632,000 $1,060,800 $571,200
2022 $21,314 $1,600,000 $1,040,000 $560,000
2021 $17,527 $1,303,667 $845,065 $458,602
2019 $3,083 $120,277 $87,591 $32,686
2018 $2,852 $117,920 $85,874 $32,046
2016 $2,627 $113,343 $82,541 $30,802
2015 $2,545 $111,642 $81,302 $30,340
2014 $2,539 $109,456 $79,710 $29,746
Source: Public Records

Agents Affiliated with this Home

  • S

    Seller's Agent in 2019

    Steve Bogoyevac

    Steven M. Bogoyevac, Broker

    (424) 405-3826

    76 Total Sales

    Steve Bogoyevac
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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PW19007725

California Regional Multiple Listing Service (CRMLS)

APN: 7281-015-028

California Los Angeles County Long Beach 90802 East Village

240 Linden Ave, Long Beach, CA

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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