Josephine Sharma
LEGACY HOMES REALTY
(951) 463-4738
62 Total Sales
2 in West Village
$395,000 Price Range
240 W 7th St Long Beach, CA 90813
West Village Neighborhood
2
Beds
3
Baths
15,690
Sq Ft
0.34
Acre Lot
About This Home
As of April 2018Sara’s Apartment property is a 29 unit apartment community located in the bike friendly area of Downtown Long Beach. This asset offers investors the unique opportunity to acquire an investment property with a restricted cash flow for 7 years with a long term upside in appreciation value. Long Beach is a non-rent controlled market. The property was originally constructed in 1957 and features 19 (Studio) and ten (1 Bedroom) units, encompassing a gross building area of 15,650 square feet. The building features controlled-access entry, on-site laundry and attached covered parking garages for 14 units.
The Subject Property is located at 240 E. 7th Street in the downtown neighborhood of Long Beach. Situated less than 7 blocks from Ocean Boulevard, The Pike Outlet Marketplace, and a mile from the ocean, just 6 blocks from the major retailers and restaurants along Pine Avenue.
Last Agent to Sell the Property
Coldwell Banker Commercial License #01484265 Listed on: 04/03/2017
Co-Listed By
Becky Blair
Coldwell Banker Commercial License #00630793
Last Buyer's Agent
Coldwell Banker Commercial License #01484265 Listed on: 04/03/2017
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Property Details
Home Type
- Multi-Family
Year Built
- Built in 1957
Lot Details
- 15,002 Sq Ft Lot
- Two or More Common Walls
- Density is up to 1 Unit/Acre
Parking
- 14 Car Garage
Home Design
- Property Attached
Interior Spaces
- 15,690 Sq Ft Home
- 2-Story Property
Bedrooms and Bathrooms
- 2 Bedrooms
- 3 Bathrooms
Outdoor Features
- Exterior Lighting
Listing and Financial Details
- Tax Lot 003
- Tax Tract Number 21
- Assessor Parcel Number 7272021003
Community Details
Overview
- 29 Units
Building Details
- 30 Separate Electric Meters
- 30 Separate Gas Meters
- 1 Separate Water Meter
- Operating Expense $95,112
- Gross Income $211,464
- Net Operating Income $116,248
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
Apr 3, 2017
Closed on
Mar 27, 2018
Sold by
Bought by
Seller's Agent
George Bustamante
Coldwell Banker Commercial
Buyer's Agent
George Bustamante
Coldwell Banker Commercial
List Price
$3,200,000
Sold Price
$3,300,000
Premium/Discount to List
$100,000
3.12%
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$3,650,000
Interest Rate
4.44%
Mortgage Type
Commercial
Purchase Details
Closed on
Nov 9, 2015
Sold by
Bought by
Purchase Details
Closed on
Jun 18, 2012
Sold by
Bought by
Purchase Details
Closed on
Apr 27, 2010
Sold by
Bought by
Purchase Details
Closed on
Jul 20, 1993
Sold by
Bought by
Home Values in the Area
Average Home Value in this Area
Agents Specializing in West Village, CA
-
Josephine Sharma
-
Tyler Rogina
Tyler Rogina
Compass
(424) 417-6460
120 Total Sales
2 in West Village
$292K - $405K Price Range
-
Lynsey Russell
Lynsey Russell
Keller Williams Pacific Estate
(424) 349-4623
122 Total Sales
2 in West Village
$300K - $480K Price Range
-
Angela Weeks
Angela Weeks
Responds QuicklyFirst Team Real Estate
(949) 438-4986
41 Total Sales
1 in West Village
$580,000 Price
-
L'mar Kojani
L'mar Kojani
Keller Williams Realty
(424) 345-1217
45 Total Sales
1 in West Village
$420,000 Price
-
Jane Castillo
Jane Castillo
Keller Williams Realty
(424) 283-4769
21 Total Sales
1 in West Village
$410,000 Price
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 |
|---|---|---|---|
| $3,300,000 | Ticor Title Company Of Calif | ||
| $684,000 | None Available | ||
| $494,004 | Lawyers Title Company | ||
| -- | None Available | ||
| $850,000 | Commonwealth Land 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 | $4,349,000 | ||
| Closed | $3,614,000 | ||
| Closed | $3,650,000 |
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 |
|---|---|---|---|---|
| 04/12/2018 04/12/18 | Sold | $3,300,000 | +3.1% | $210 / Sq Ft |
| 04/10/2017 04/10/17 | Pending | -- | -- | -- |
| 04/03/2017 04/03/17 | For Sale | $3,200,000 | -- | $204 / 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 | $4,838 | $3,754,832 | $2,617,005 | $1,137,827 |
| 2024 | $4,764 | $3,681,209 | $2,565,692 | $1,115,517 |
| 2023 | $4,607 | $3,609,030 | $2,515,385 | $1,093,645 |
| 2022 | $4,433 | $3,538,265 | $2,466,064 | $1,072,201 |
| 2021 | $4,153 | $3,468,888 | $2,417,710 | $1,051,178 |
| 2019 | $4,450 | $3,366,000 | $2,346,000 | $1,020,000 |
| 2018 | $49,660 | $3,771,450 | $2,642,616 | $1,128,834 |
| 2016 | $3,783 | $3,625,000 | $2,540,000 | $1,085,000 |
| 2015 | $3,731 | $2,459,063 | $1,721,345 | $737,718 |
| 2014 | $3,890 | $2,410,895 | $1,687,627 | $723,268 |
Source: Public Records
Agents Affiliated with this Home
-
George Bustamante
Seller's Agent in 2018
George Bustamante
Coldwell Banker Commercial
(562) 326-5043
1 in this area
37 Total Sales
-
B
Seller Co-Listing Agent in 2018
Becky Blair
Coldwell Banker Commercial
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: PW17035843
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.
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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