NOT LISTED FOR SALE

2500 Cedar Ave Long Beach, CA 90806

South Wrigley Neighborhood

Estimated Value: $887,000 - $1,018,944

4 Beds
2 Baths
2,120 Sq Ft
$439/Sq Ft Est. Value

Last Sold September 29, 2020

Last sale price $680,000 $321 Per Sq Ft

Est. 37% increase in value since last sale

Current estimated payment $5,656/month

32 Days on Market

Highlights

  • Property is near public transit
  • Laundry Room
  • Front Yard
  • Corner Lot
  • Landscaped

About This Home

As of September 2020

Duplex Opportunity in Lovely Long Beach. This two story corner lot investment opportunity offers two units and is income producing with light value add potential. Quaint front, side and backyard for relaxation. Each unit has two bedrooms and one bathroom. Units have separate gas and electricity meters. Lovely stucco building with a tile roof and two car garage parking. Offers a unique opportunity for a savvy buyer to live in one and have the investment pay down the mortgage. Walkability score of 84 so this is a true selling point for potential tenants. Close to shopping and public transportation. Recently appraised and being offered well below appraised value. Please do not disturb tenants and do not walk the property. Make all offers subject to interior inspection.

Last Agent to Sell the Property

Keisha Hosea

KASI Homes License #01489340 Listed on: 07/12/2020

Last Buyer's Agent

Cody Charnell

Sage Real Estate Group, Inc. License #01950585

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1928

Lot Details

  • 4,252 Sq Ft Lot
  • No Common Walls
  • Landscaped
  • Corner Lot
  • Front Yard
  • Density is up to 1 Unit/Acre

Parking

  • 2 Car Garage

Home Design

  • 2,120 Sq Ft Home

Bedrooms and Bathrooms

  • 4 Bedrooms
  • 2 Bathrooms

Laundry

  • Laundry Room
  • Washer and Gas Dryer Hookup

Location

  • Property is near public transit
  • Urban Location

Listing and Financial Details

  • Legal Lot and Block 24 / 1
  • Assessor Parcel Number 7205004023

Community Details

Overview

  • 2 Units

Building Details

  • 32 Leased Units
  • Rent Control
  • 2 Separate Electric Meters
  • 2 Separate Gas Meters
  • Insurance Expense $1,000
  • Water Sewer Expense $720
  • New Taxes Expense $6,040
  • Operating Expense $7,760
  • Gross Income $36,000
  • Net Operating Income $30,214

Property Details

Home Type

Multi-Family

Year Built

Built in 1928

Lot Details

0

Parking

2

Listing Details

  • Property Attached: No
  • Subdivision Name Other: Willow
  • Water Sewer Expenses: 720.00
  • Zoning: LBR1N
  • Property Type: Residential Income
  • Parcel Number: 7205004023
  • Year Built: 1928
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Common Walls: No Common Walls
  • Price Per Square Foot: 320.75

Exterior Features

  • Pool Private: No

Garage/Parking

  • Garage Spaces: 2.00
  • Total Parking Spaces: 2.00

Utilities

  • Laundry: Yes
  • Laundry Features: Gas Dryer Hookup, Washer Hookup
  • Sewer: Public Sewer
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No
  • Community Features: Urban

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: 0-1 Unit/Acre, Corner Lot, Front Yard, Landscaped, Near Public Transit
  • Lot Size Sq Ft: 4252.00
  • Lot Size Acres: 0.0976

Multi Family

  • Gross Income: 36000.00
  • Gross Scheduled Income: 36000.00
  • Insurance Expense: 1000.00
  • Lot Size Area: 4252.0000 Square Feet
  • Net Operating Income: 30214.00
  • Number Of Separate Electric Meters: 2
  • Number Of Separate Gas Meters: 2
  • Number Of Units Leased: 32
  • Number Of Units Total: 2
  • Operating Expense: 5786.00
  • Rent Control: Yes
  • Total Actual Rent: 3000.00
  • Total Expenses: 7760.00

Tax Info

  • New Taxes Expense: 6040.00
  • Tax Block: 1
  • Tax Census Tract: 5731.00
  • Tax Lot: 24
  • Tax Tract Number: Willow

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jul 12, 2020
Closed on
Aug 14, 2020
Sold by
Isley William T
Bought by
Morris Lawrence G and Ramelb Morris Robyn
Seller's Agent
Keisha Hosea
KASI Homes
Buyer's Agent
Cody Charnell
Sage Real Estate Group, Inc.
List Price
$699,000
Sold Price
$680,000
Premium/Discount to List
-$19,000
-2.72%
Current Estimated Value
$930,736

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$250,736
Avg. Annual Appreciation
6.17%
Original Mortgage
$664,987
Interest Rate
2.9%
Mortgage Type
FHA

Purchase Details

Closed on
Feb 27, 2019
Sold by
Isley William T and Lsley Barbara A
Bought by
Isley William T

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$420,000
Interest Rate
4.4%
Mortgage Type
New Conventional

Purchase Details

Closed on
Apr 19, 2005
Sold by
Isley Williams and Isley Barbara A
Bought by
Isley William O and Isley Barbara A

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$270,000
Interest Rate
5.23%
Mortgage Type
Negative Amortization

Purchase Details

Closed on
Jan 17, 2003
Sold by
Isley William O and Isley Barbara A
Bought by
Isley William and Isley Barbara A

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$208,000
Interest Rate
5.97%

Purchase Details

Closed on
Sep 21, 1995
Sold by
Osterholt Wendy H and Poindexter Lucy E
Bought by
Young Dennis

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$127,761
Interest Rate
7.97%
Mortgage Type
FHA
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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Average Value
Not Available
List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Morris Lawrence G $680,000 Corinthian Title Company
Isley William T -- Ticor Title Co Of Ca
Isley William T -- Ticor Title Co Of Ca
Isley William O -- First American Title Company
Isley William -- Diversified Title & Escrow
Young Dennis $129,000 Commonwealth Land Title Co
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Morris Lawrence G $664,987
Previous Owner Isley William T $420,000
Previous Owner Isley William O $270,000
Previous Owner Isley William $208,000
Previous Owner Young Dennis $127,761
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
09/29/2020 09/29/20 Sold $680,000 -2.7% $321 / Sq Ft
08/13/2020 08/13/20 Pending -- -- --
07/12/2020 07/12/20 For Sale $699,000 -- $330 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

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 $9,353 $736,053 $324,729 $411,324
2024 $9,353 $721,621 $318,362 $403,259
2023 $9,196 $707,472 $312,120 $395,352
2022 $8,631 $693,600 $306,000 $387,600
2021 $8,539 $680,000 $300,000 $380,000
2020 $4,113 $306,187 $183,340 $122,847
2019 $4,066 $300,185 $179,746 $120,439
2018 $3,917 $294,300 $176,222 $118,078
2016 $3,596 $282,874 $169,380 $113,494
2015 $3,456 $278,626 $166,836 $111,790
2014 $3,440 $273,169 $163,568 $109,601
Source: Public Records

Agents Affiliated with this Home

  • Keisha Hosea

    Seller's Agent in 2020

    Keisha Hosea

    KASI Homes

    (877) 534-7421

    15 Total Sales

    Keisha Hosea
    Section Image
  • Cody Charnell

    Buyer's Agent in 2020

    Cody Charnell

    Sage Real Estate Group, Inc.

    (562) 896-3851

    2 in this area

    47 Total Sales

    Cody Charnell
    Section Image
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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: IG20136811

California Regional Multiple Listing Service (CRMLS)

APN: 7205-004-023

California Los Angeles County Long Beach 90806 South Wrigley

2500 Cedar Ave, Long Beach, CA

Not Listed for Sale

MultiFamily

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