NOT LISTED FOR SALE

2429 E Broadway Long Beach, CA 90803

Bluff Heights Neighborhood
3 Beds
2 Baths
6,128 Sq Ft
1948 Built

Last Sold April 06, 2017

Last sale price $1,750,000 $286 Per Sq Ft

24 Days on Market

Highlights

  • Fireplace in Bathroom
  • Cooling System Powered By Gas
  • 4-minute walk to Bixby Park
  • Woodrow Wilson High School Rated A
  • Garden

About This Home

As of April 2017

East Broadway Apartments is an eight-unit apartment community located in the popular Bluff Heights submarket of Long Beach, and offers investors the opportunity to acquire a value-add asset in a strong, non-rent controlled market. The property was originally constructed in 1948 and features seven (1 Bed + 1 Bath) units and one (2 Bed + 1 Bath) unit, encompassing a gross rentable area of 6,128 square feet. The property features controlled-access entry, separately metered for gas and electrical and updated plumbing.

The Subject Property is located at 2429 E. Broadway, Long Beach. The property is located in an extremely pedestrian friendly suburban neighborhood and boasts a Walkscore of 81 and a Bikescore of 87. The property also benefits from close proximity to the shops and restaurants on 7th Street and the amenities of Retro Row along E. 4th Street.

Last Agent to Sell the Property

Robert Stepp

Keller Williams Realty Downey License #01456379 Listed on: 02/01/2017

Keller Williams Realty Downey

Last Buyer's Agent

Albert Morell

Platinum Star Properties License #00466538

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1948

Lot Details

  • 6,373 Sq Ft Lot
  • 1 Common Wall
  • Garden

Home Design

  • Property Attached

Interior Spaces

  • 6,128 Sq Ft Home
  • Electric Fireplace
  • Gas Fireplace
  • Family Room with Fireplace
  • Living Room with Fireplace
  • Dining Room with Fireplace
  • Fireplace in Kitchen

Bedrooms and Bathrooms

  • 3 Bedrooms
  • 2 Bathrooms
  • Fireplace in Bathroom

Outdoor Features

  • Fireplace in Patio
  • Outdoor Fireplace

Utilities

  • Cooling System Powered By Gas
  • Septic Type Unknown

Listing and Financial Details

  • Tax Lot 6373
  • Tax Tract Number 5767
  • Assessor Parcel Number 7263009012

Community Details

Overview

  • 8 Units

Building Details

  • 8 Separate Electric Meters
  • 8 Separate Gas Meters
  • 8 Separate Water Meters
  • Electric Expense $3,800
  • Gardener Expense $600
  • Insurance Expense $2,451
  • Maintenance Expense $3,450
  • Pest Control $500
  • Professional Management Expense $5,568
  • New Taxes Expense $21,959
  • Operating Expense $40,328
  • Gross Income $116,580
  • Net Operating Income $71,023

Property Details

Home Type

Multi-Family

Year Built

Built in 1948

Lot Details

0

Listing Details

  • Professional Management Expense: 5568.00
  • Property Attached: Yes
  • Subdivision Name Other: Bluff Heights
  • Zoning: LBR3S
  • Property Type: Residential Income
  • Gardener Expense: 600.00
  • Parcel Number: 7263009012
  • Year Built: 1948
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Fireplace: Yes
  • Common Walls: 1 Common Wall
  • Fireplace Features: Bath, Dining Room, Family Room, Kitchen, Living Room, Outside, Patio, Electric, Gas
  • Levels: Two
  • Price Per Square Foot: 285.57

Exterior Features

  • Pool Private: No

Utilities

  • Utilities: Electricity Available, Sewer Available, Water Available
  • Pest Control Expense: 500.00
  • Sewer: Unknown
  • Water Source: Other
  • Cooling: Electric, Gas
  • Cooling: Yes

Condo/Co-op/Association

  • Community Features: Sidewalks

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: Garden
  • Lot Size Sq Ft: 6373.00

Multi Family

  • Average1 Bed Area: 750 Square Feet
  • Average2 Bed Area: 878 Square Feet
  • Electric Expense: 3800.00
  • Gross Income: 116580.00
  • Gross Scheduled Income: 117180.00
  • Insurance Expense: 2451.00
  • Maintenance Expense: 3450.00
  • Net Operating Income: 71023.00
  • Number Of Separate Electric Meters: 8
  • Number Of Separate Gas Meters: 8
  • Number Of Separate Water Meters: 8
  • Number Of Units Total: 8
  • Operating Expense: 40328.00
  • Operating Expense Percent: 36.00
  • Rent Control: No
  • Total Expenses: 40328.00

Tax Info

  • New Taxes Expense: 21959.00
  • Tax Census Tract: 5767.00
  • Tax Lot: 6373
  • Tax Tract Number: 5767

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
04/06/2017 04/06/17 Sold $1,750,000 -2.8% $286 / Sq Ft
02/25/2017 02/25/17 Pending -- -- --
02/01/2017 02/01/17 For Sale $1,800,000 -- $294 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Robert Stepp

    Seller's Agent in 2017

    Robert Stepp

    Keller Williams Realty Downey

    (310) 463-2916

    4 in this area

    72 Total Sales

    Robert Stepp
    Section Image

  • A

    Buyer's Agent in 2017

    Albert Morell

    Platinum Star Properties

    (323) 828-8675

    2 Total Sales

    Albert Morell
    Section Image
See All Agents

Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PW17021636

California Regional Multiple Listing Service (CRMLS)
California Los Angeles County Long Beach 90803 Bluff Heights

2429 E Broadway, Long Beach, CA

This home is located at 2429 E Broadway, Long Beach, CA 90803 since 01 February 2017. This property was built in 1948. 2429 E Broadway 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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