NOT LISTED FOR SALE

2449 E 5th St Long Beach, CA 90814

Bluff Heights Neighborhood
3 Beds
2 Baths
6,834 Sq Ft
6,507 Sq Ft Lot

Last Sold September 09, 2024

Last sale price $2,450,000 $359 Per Sq Ft

73 Days on Market

Highlights

  • Property is near public transit
  • Modern Architecture
  • Laundry Room
  • Woodrow Wilson High School Rated A
  • No HOA
  • Bike Trail

About This Home

As of September 2024

Prime Eastside, all electric apt bldg. 11 units with 2-(2 Br), 9-(1 Br), 6-(Garages). First time for sale in 40+ years. Part of a portfolio can be purchased separately or together with other buildings this owner owns. Rents are low creating an add-on value. Close to 4th St. Retro-row in a low vacancy rental area. Located in Rose Park South historic district (see supplements)

Last Agent to Sell the Property

Mark Kachigan

Pabst, Kinney & Associates Brokerage Phone: 562-225-4848 License #00644779 Listed on: 05/29/2024

Last Buyer's Agent

Spencer Pabst

Pabst, Kinney & Associates License #01849377

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1963

Lot Details

  • 6,507 Sq Ft Lot
  • Lot Dimensions are 50 x 131
  • Two or More Common Walls
  • South Facing Home
  • Rectangular Lot
  • Level Lot

Parking

  • 6 Car Garage
  • Parking Available
  • Front Facing Garage
  • Rear-Facing Garage

Home Design

  • Modern Architecture
  • Apartment
  • Entry on the 1st floor
  • Cosmetic Repairs Needed
  • Slab Foundation
  • Composition Roof

Interior Spaces

  • 6,834 Sq Ft Home
  • 2-Story Property

Bedrooms and Bathrooms

  • 3 Bedrooms
  • 2 Bathrooms

Laundry

  • Laundry Room
  • Electric Dryer Hookup

Additional Features

  • Property is near public transit
  • Heating Available

Listing and Financial Details

  • Tenant pays for electricity
  • Tax Lot 7
  • Assessor Parcel Number 7263021029
  • $1,961 per year additional tax assessments

Community Details

Overview

  • No Home Owners Association
  • 11 Units
  • Eastside Subdivision

Amenities

  • Laundry Facilities

Recreation

  • Dog Park
  • Bike Trail

Building Details

  • Rent Control
  • 12 Separate Electric Meters
  • 1 Separate Water Meter
  • Gardener Expense $1,500
  • Insurance Expense $4,720
  • Other Expense $10,021
  • Pest Control $517
  • Supplies Expense $4,595
  • Operating Expense $65,100
  • Gross Income $186,000
  • Net Operating Income $119,925

Property Details

Home Type

Multi-Family

Year Built

Built in 1963

Lot Details

0

Parking

6

Listing Details

  • Assessments: Yes
  • Property Attached: Yes
  • Road Frontage Type: City Street
  • Road Surface Type: Alley Paved, Paved
  • Subdivision Name Other: Eastside (ES)
  • Supplies Expense: 4595.00
  • Zoning: LBR3S
  • Architectural Style: Modern
  • Property Condition: Repairs Cosmetic
  • Property Sub Type: Apartment
  • Property Type: Residential Income
  • Gardener Expense: 1500.00
  • Parcel Number: 7263021029
  • Year Built: 1963
  • Special Features: None

Interior Features

  • Stories: 2
  • Common Walls: 2+ Common Walls
  • Entry Level: 1
  • Levels: Two
  • Price Per Square Foot: 358.50

Exterior Features

  • Direction Faces: South
  • Foundation: Slab
  • Pool Private: No
  • Roof: Composition
  • Spa: No

Garage/Parking

  • Garage Spaces: 6.00
  • Parking: Yes
  • Parking Features: Garage Faces Front, Garage Faces Rear
  • Total Parking Spaces: 6.00

Utilities

  • Utilities: Electricity Connected, Sewer Connected, Water Connected
  • Heating: Yes
  • Laundry: Yes
  • Heating Type: Electric
  • Laundry Features: Community, Electric Dryer Hookup
  • Pest Control Expense: 517.00
  • Sewer: Public Sewer
  • Water Source: Public

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Common Interest: Community Apartment
  • Community Features: Biking, Curbs, Dog Park, Sidewalks

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: Level with Street, Lot 6500-9999, Rectangular Lot, Level, Near Public Transit, Walkstreet
  • Lot Size: 50 X 131
  • Lot Size Sq Ft: 6507.00
  • Lot Size Acres: 0.1494

Rental Info

  • Tenant Pays: Electricity

Multi Family

  • Average1 Bed Area: 600 Square Feet
  • Average2 Bed Area: 717 Square Feet
  • Gross Income: 186000.00
  • Gross Multiplier: 13.70
  • Gross Operating Income: 184500.00
  • Gross Scheduled Income: 190200.00
  • Insurance Expense: 4720.00
  • Lot Size Area: 6507.0000 Square Feet
  • Net Operating Income: 119925.00
  • Number Of Rented Garages: 6
  • Number Of Separate Electric Meters: 12
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 11
  • Operating Expense: 64575.00
  • Operating Expense Percent: 35.00
  • Other Expense: 10021.00
  • Other Expense Description: Utility
  • Rent Control: Yes
  • Total Actual Rent: 15500.00
  • Total Expenses: 65100.00
  • Vacancy Allowance Rate: 3.00

Tax Info

  • Tax Census Tract: 5768.01
  • Tax Lot: 7
  • Tax Tract Number: 0000
  • TaxOtherAnnualAssessmentAmount: 1961.00

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
09/09/2024 09/09/24 Sold $2,450,000 -5.8% $359 / Sq Ft
07/30/2024 07/30/24 Price Changed $2,600,000 -5.5% $380 / Sq Ft
05/29/2024 05/29/24 For Sale $2,750,000 -- $402 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Mark Kachigan

    Seller's Agent in 2024

    Mark Kachigan

    Pabst, Kinney & Associates

    (562) 225-4848

    5 in this area

    35 Total Sales

    Mark Kachigan
    Section Image
  • Spencer Pabst

    Buyer's Agent in 2024

    Spencer Pabst

    Pabst, Kinney & Associates

    (562) 884-6875

    2 in this area

    55 Total Sales

    Spencer Pabst
    Section Image
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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PW24107791

California Regional Multiple Listing Service (CRMLS)
California Los Angeles County Long Beach 90814 Bluff Heights

2449 E 5th St, Long Beach, CA

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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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