Seller's Agent in 2020
Tyler Leeson
Marcus & Millichap RE Invest
(949) 419-3200
156 Total Sales
246 Coronado Ave Long Beach, CA 90803
Bluff Heights Neighborhood
8
Beds
6
Baths
14,045
Sq Ft
0.33
Acres
Highlights
- 0.33 Acre Lot
- Laundry Room
- Landscaped
- Woodrow Wilson High School Rated A
About This Home
As of July 2020We are pleased to present the opportunity to acquire 244 - 246 Coronado Avenue, an 18-unit multifamily investment property located in Long Beach, one of the premier housing markets in Southern California. Specifically, the property is located in the Bluff Heights neighborhood, one of the most desirable areas in the city. The building is also within walking distance to numerous local and national retail stores and just over one mile from the beach.
Situated on a 0.33-acre lot, the 14,045 square foot property consists of 3, 1 bed/1 bath units, 13, 2 bed/1 bath units, 1, 2 bed/1.5 bath townhouse, and 1, 3 bed/2 bath unit. Built in 1962, 244 - 246 Coronado Avenue offers amenities including a professionally landscaped courtyard, garage parking, screen doors, and on-site laundry.
Additionally, 39% of units have been completely or partially remodeled. Upgrades include new bathrooms, flooring, faucets, stainless steel appliances, patio fencing, and more.
Last Agent to Sell the Property
Marcus & Millichap RE Invest License #01451551 Listed on: 04/10/2020
Last Buyer's Agent
Marcus & Millichap RE Invest License #01451551 Listed on: 04/10/2020
Property Details
Home Type
- Apartment
Year Built
- Built in 1962
Lot Details
- 0.33 Acre Lot
- No Common Walls
- Landscaped
- 7264004028
Parking
- 9 Car Garage
Interior Spaces
- 14,045 Sq Ft Home
- 2-Story Property
- Laundry Room
Bedrooms and Bathrooms
- 8 Bedrooms
- 6 Bathrooms
Outdoor Features
- Rain Gutters
Listing and Financial Details
- Legal Lot and Block 5 / B
- Tax Tract Number 45
- Assessor Parcel Number 7264004032
Community Details
Overview
- 2 Buildings
- 18 Units
Amenities
- Laundry Facilities
Building Details
- 18 Leased Units
- Rent Control
- 18 Separate Electric Meters
- 18 Separate Gas Meters
- 1 Separate Water Meter
- Electric Expense $2,500
- Fuel Expense $2,500
- Insurance Expense $5,400
- Maintenance Expense $12,600
- Other Expense $9,850
- Professional Management Expense $15,301
- Trash Expense $2,500
- Water Sewer Expense $2,500
- New Taxes Expense $73,925
- Operating Expense $127,077
- Gross Income $393,980
- Net Operating Income $255,459
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Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 07/24/2020 07/24/20 | Sold | $5,062,500 | -13.5% | $360 / Sq Ft |
| 04/27/2020 04/27/20 | Pending | -- | -- | -- |
| 04/10/2020 04/10/20 | For Sale | $5,850,000 | -- | $417 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
Tax History Compared to Growth
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 | $39,685 | $3,097,917 | $1,861,782 | $1,236,135 |
| 2024 | $39,685 | $3,037,175 | $1,825,277 | $1,211,898 |
| 2023 | $39,014 | $2,977,624 | $1,789,488 | $1,188,136 |
| 2022 | $36,614 | $2,919,240 | $1,754,400 | $1,164,840 |
| 2021 | $35,876 | $2,862,000 | $1,720,000 | $1,142,000 |
| 2020 | $21,412 | $1,636,257 | $724,700 | $911,557 |
| 2019 | $9,710 | $657,701 | $145,994 | $511,707 |
| 2018 | $9,377 | $644,820 | $143,132 | $501,688 |
| 2016 | $8,604 | $619,110 | $137,575 | $481,535 |
| 2015 | $8,288 | $609,811 | $135,509 | $474,302 |
| 2014 | $8,282 | $597,867 | $132,855 | $465,012 |
Source: Public Records
Agents Affiliated with this Home
-
Tyler Leeson
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: OC20071636
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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