Seller's Agent in 2024
Loree Scarborough
Compass
(562) 225-0511
4 in this area
76 Total Sales
2524 E 1st St Long Beach, CA 90803
Bluff Park NeighborhoodEstimated Value: $2,321,000 - $2,324,950
8
Beds
7
Baths
4,863
Sq Ft
$478/Sq Ft
Est. Value
Highlights
- 0.22 Acre Lot
- Property is near a park
- Wood Flooring
- Woodrow Wilson High School Rated A
- Traditional Architecture
- 3-minute walk to Bluff Park
About This Home
As of July 2024Welcome to this beautifully designed multi-family property located in the highly sought-after historic Bluff Park neighborhood, just a block from the beach and ocean. Family owned for 70 years and first time ever on the market, this impressive 5-unit property offers a total of 8 bedrooms and 7 baths, spanning 4,863 square feet. The front building consists of two spacious 3-bedroom, 2-bath units that live like single-family homes. The back building consists of two charming 1-bedroom, 1-bath units located above the 5-car garages. A 5th downstairs single unit with a 3/4 bath has a side entrance. Well maintained throughout the years, all but 1 unit has been occupied by the family, with hardwood flooring in all the units, fireplaces and AC in the two front 3-bedroom units. A fantastic opportunity for investors or those seeking a multi-family compound with potential rental income. With its prime location, unique architectural elements, and exceptional features, this property is a must-see!
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $3,212
Year Built
- Built in 1940
Lot Details
- 9,631 Sq Ft Lot
- No Common Walls
- Rural Setting
- Landscaped
- Sprinkler System
- Private Yard
- Garden
- Back and Front Yard
- Density is up to 1 Unit/Acre
Parking
- 5 Car Garage
- 2 Open Parking Spaces
- Parking Available
- Rear-Facing Garage
- Parking Lot
Home Design
- Traditional Architecture
- Stucco
Interior Spaces
- 4,863 Sq Ft Home
- 2-Story Property
- Ceiling Fan
- Bay Window
- Wood Frame Window
- Window Screens
- French Doors
- Living Room with Fireplace
- Neighborhood Views
- Ceramic Countertops
- Laundry Room
Flooring
- Wood
- Carpet
- Tile
Bedrooms and Bathrooms
- 8 Bedrooms
- 7 Bathrooms
Utilities
- Central Heating and Cooling System
- Wall Furnace
Additional Features
- Exterior Lighting
- Property is near a park
Listing and Financial Details
- Legal Lot and Block 4 / 47
- Tax Tract Number 5767
- Assessor Parcel Number 7264023005
- $1,127 per year additional tax assessments
Community Details
Overview
- 2 Buildings
- 5 Units
- Bluff Park Subdivision
Recreation
- Park
- Dog Park
- Water Sports
- Bike Trail
Building Details
- Rent Control
- 5 Separate Electric Meters
- 4 Separate Gas Meters
- 1 Separate Water Meter
- Gardener Expense $1,800
- Insurance Expense $2,600
- Water Sewer Expense $6,000
- Gross Income $18,000
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
Jun 8, 2024
Closed on
Jul 1, 2024
Sold by
Preston Family Trust and Woolhether Susan J
Bought by
Two More Llc
Seller's Agent
Loree Scarborough
Compass
Buyer's Agent
Mark Malan
Mark Malan, Broker
List Price
$2,250,000
Sold Price
$2,300,000
Premium/Discount to List
$50,000
2.22%
Views
11
Current Estimated Value
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$22,975
Avg. Annual Appreciation
0.71%
Original Mortgage
$1,350,000
Outstanding Balance
$1,336,127
Interest Rate
6.94%
Mortgage Type
New Conventional
Estimated Equity
$982,706
Purchase Details
Closed on
Mar 5, 2013
Sold by
Preston Jean M and Preston Family Trust
Bought by
Preston Jean M and Preston Family Trust
Purchase Details
Closed on
Sep 1, 2010
Sold by
Preston Jean M and Preston Family Trust
Bought by
Preston Jean M and Preston Family Trust
Purchase Details
Closed on
Nov 1, 1995
Sold by
Preston Jean M
Bought by
Preston James M and Preston Jean M
Purchase Details
Closed on
Oct 10, 1994
Sold by
Preston Jean M
Bought by
Clark Lillian D
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area
Home Values in the Area
Average Home Value in this Area
Purchase History
| Date | Buyer | Sale Price | Title Company |
|---|---|---|---|
| Two More Llc | $2,300,000 | Fidelity National Title | |
| Preston Jean M | -- | None Available | |
| Preston Jean M | -- | None Available | |
| Preston James M | -- | -- | |
| Clark Lillian D | -- | -- |
Source: Public Records
Mortgage History
| Date | Status | Borrower | Loan Amount |
|---|---|---|---|
| Open | Two More Llc | $1,350,000 |
Source: Public Records
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 07/08/2024 07/08/24 | Sold | $2,300,000 | +2.2% | $473 / Sq Ft |
| 06/08/2024 06/08/24 | For Sale | $2,250,000 | -- | $463 / 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 | $3,212 | $2,300,000 | $1,200,000 | $1,100,000 |
| 2024 | $3,212 | $172,769 | $93,954 | $78,815 |
| 2023 | $3,150 | $169,382 | $92,112 | $77,270 |
| 2022 | $2,989 | $166,061 | $90,306 | $75,755 |
| 2021 | $2,889 | $162,806 | $88,536 | $74,270 |
| 2019 | $2,846 | $158,219 | $85,911 | $72,308 |
| 2018 | $2,694 | $155,122 | $84,227 | $70,895 |
| 2016 | $2,458 | $148,869 | $80,957 | $67,912 |
| 2015 | $2,379 | $146,633 | $79,741 | $66,892 |
| 2014 | $2,394 | $143,761 | $78,179 | $65,582 |
Source: Public Records
Agents Affiliated with this Home
-
Loree Scarborough
-
Mark Malan
M
Buyer's Agent in 2024
Mark Malan
Mark Malan, Broker
(562) 983-6700
1 in this area
8 Total Sales
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: PW24112193
APN: 7264-023-005
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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