NOT LISTED FOR SALE
12 Beds
7 Baths
5,112 Sq Ft
4,835 Sq Ft Lot

Last Sold April 17, 2014

Last sale price $742,500 $145 Per Sq Ft

279 Days on Market

About This Home

As of April 2014

Just Reduced! Very well producing 7 unit building in North Long Beach. Great unit mix of 5 -2 Bedroom units and 2-1 Bedroom units. Professionally managed and maintained. On site laundry producing income. 5 carport spaces rented at $25/month. All separate gas and electric meters. Drive by only, please do not disturb the tenants. Rents are actual, taxes are updated on list price and expenses are actual expenses.
Any further information you need is available upon request.

Last Agent to Sell the Property

Blair Newman

Coldwell Banker Envision License #01459316 Listed on: 05/29/2013

Coldwell Banker Envision

Last Buyer's Agent

Blair Newman

Coldwell Banker Envision License #01459316 Listed on: 05/29/2013

Coldwell Banker Envision

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1963

Lot Details

  • 4,851 Sq Ft Lot
  • Two or More Common Walls
  • Rectangular Lot

Home Design

  • 5,112 Sq Ft Home
  • Property Attached

Bedrooms and Bathrooms

  • 12 Bedrooms
  • 7 Bathrooms

Laundry

  • Laundry Room
  • Leased Washer and Dryer

Parking

  • 5 Parking Spaces
  • 5 Carport Spaces
  • Parking Available
  • Assigned Parking

Utilities

  • Sewer Paid

Listing and Financial Details

  • Tax Lot 13
  • Tax Tract Number 8201
  • Assessor Parcel Number 7303012042

Community Details

Building Details

  • 7 Leased Units
  • 8 Separate Electric Meters
  • 8 Separate Gas Meters
  • 1 Separate Water Meter
  • Electric Expense $841
  • Gardener Expense $840
  • Insurance Expense $2,343
  • Maintenance Expense $4,116
  • Other Expense $467
  • Pest Control $432
  • Professional Management Expense $5,092
  • Trash Expense $1,208
  • Water Sewer Expense $1,910
  • New Taxes Expense $9,373
  • Gross Income $6,216
  • Net Operating Income $43,985

Additional Features

  • 7 Units
  • Laundry Facilities

Property Details

Home Type

Multi-Family

Year Built

Built in 1963

Lot Details

4,851 Sq Ft Lot

Listing Details

  • CapRate: 5.90
  • Professional Management Expense: 5092.00
  • Property Attached: Yes
  • Subdivision Name Other: North Long Beach (NLB)
  • Water Sewer Expenses: 1910.00
  • Zoning: LBR3T
  • Property Type: Residential Income
  • Gardener Expense: 840.00
  • Parcel Number: 7303012042
  • Year Built: 1963
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Common Walls: 2+ Common Walls
  • Levels: Two
  • Price Per Square Foot: 145.25

Exterior Features

  • Pool Private: No

Garage/Parking

  • Carport Spaces: 5.00
  • Parking: Yes
  • Parking Features: Assigned
  • Total Parking Spaces: 5.00

Utilities

  • Utilities: Sewer Connected, Sewer Available
  • Laundry: Yes
  • Laundry Features: Common Area
  • Pest Control Expense: 432.00
  • Sewer: Sewer Paid
  • Trash Expense: 1208.00
  • Water Source: Public

Condo/Co-op/Association

  • Community Features: Curbs

Lot Info

  • Lot Features: Rectangular Lot
  • Lot Size Sq Ft: 4851.00
  • Lot Size Acres: 0.1110

Multi Family

  • Electric Expense: 841.00
  • Gross Income: 6216.00
  • Gross Multiplier: 10.05
  • Gross Scheduled Income: 74596.00
  • Insurance Expense: 2343.00
  • Laundry Equipment Own Lease: Lease
  • Lot Size Area: 4851.0000 Square Feet
  • Maintenance Expense: 4116.00
  • Net Operating Income: 43985.00
  • Number Of Rented Garages: 5
  • Number Of Separate Electric Meters: 8
  • Number Of Separate Gas Meters: 8
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 7
  • Number Of Units Total: 7
  • Operating Expense: 30611.00
  • Other Expense: 467.00
  • Other Income Description: Laundry and Carports
  • Rent Control: No
  • Total Actual Rent: 6057.00
  • Vacancy Allowance Rate: 3.00

Tax Info

  • New Taxes Expense: 9373.00
  • Tax Lot: 13
  • Tax Tract Number: 8201
  • Tax Year: 2012
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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
04/17/2014 04/17/14 Sold $742,500 -16.5% $145 / Sq Ft
03/04/2014 03/04/14 Pending -- -- --
05/29/2013 05/29/13 For Sale $888,888 -- $174 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

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 $12,452 $909,582 $210,844 $698,738
2024 $12,452 $891,748 $206,710 $685,038
2023 $12,233 $874,263 $202,657 $671,606
2022 $11,503 $857,122 $198,684 $658,438
2021 $11,243 $840,317 $194,789 $645,528
2019 $11,082 $816,244 $189,012 $627,232
2018 $10,757 $800,256 $185,306 $614,950
2016 $9,888 $768,365 $178,111 $590,254
2015 $9,505 $756,824 $175,436 $581,388
2014 $10,534 $835,757 $295,642 $540,115
Source: Public Records

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PW13100555

California Regional Multiple Listing Service (CRMLS)
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