NOT LISTED FOR SALE

2538 Cedar Ave Long Beach, CA 90806

South Wrigley Neighborhood

Estimated Value: $1,321,000 - $1,450,000

6 Beds
4 Baths
3,750 Sq Ft
$368/Sq Ft Est. Value

Last Sold March 01, 2017

Last sale price $825,000 $220 Per Sq Ft

Est. 67% increase in value since last sale

Current estimated payment $8,399/month

90 Days on Market

About This Home

As of March 2017

GREAT INVESTMENT OPPORTUNITY TO OWN A PRIME WRIGLEY AREA 4PLEX! PROPERTIES RARELY ON THE MARKET IN THE HEART OF WRIGLEY! GREAT UNIT MIX CONSISTING OF 3-2BED/1BATH UNITS AND 1 STUDIO. CONSTRUCTED IN 1959, SEPARATELY METERED FOR GAS AND ELECTRIC HELPS KEEP EXPENSES DOWN. SELLER PAYS WATER ONLY. TENANTS PAY ALL THEIR OWN UTILITIES! LONG TERM TENANTS ALL ON MONTH-MONTH LEASE. TONS OF UPSIDE IN RENTS. 3 GARAGES CAN BE RENTED OUT FOR ADDITIONAL INCOME. HURRY THIS PROPERTY IS PRICED TO SELL FAST AT A 4.5 CAP AND 15 X GROSS!!!!

Last Agent to Sell the Property

Kristina Moore

The Moore Group Brokerage Phone: 7148097608 License #01926377 Listed on: 11/02/2016

Last Buyer's Agent

Saul Miranda

Amer Ex Realty Inc. License #01432460

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $12,554

Year Built

  • Built in 1960

Lot Details

  • 5,225 Sq Ft Lot
  • No Common Walls
  • Density is 2-5 Units/Acre

Parking

  • 3 Car Garage

Home Design

  • 3,750 Sq Ft Home
  • Quadruplex

Bedrooms and Bathrooms

  • 6 Bedrooms
  • 4 Bathrooms

Outdoor Features

  • Exterior Lighting

Listing and Financial Details

  • Tenant pays for electricity, gas
  • Tax Lot 16
  • Tax Tract Number 20
  • Assessor Parcel Number 7205004012

Community Details

Overview

  • 2 Buildings
  • 4 Units
  • Wrigley Area Subdivision

Building Details

  • 4 Leased Units
  • 5 Separate Electric Meters
  • 5 Separate Gas Meters
  • 1 Separate Water Meter
  • Gross Income $54,972
  • Net Operating Income $37,381

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$12,554

Year Built

Built in 1960

Lot Details

0

Parking

3

Listing Details

  • CapRate: 4.50
  • Other Phone Number: 7148097608
  • Property Attached: No
  • Subdivision Name Other: Wrigley Area (WR)
  • Zoning: LBR1N
  • Property Sub Type: Quadruplex
  • Property Type: Residential Income
  • Parcel Number: 7205004012
  • Year Built: 1960
  • Special Features: None

Interior Features

  • Common Walls: No Common Walls
  • Price Per Square Foot: 220.00

Exterior Features

  • Pool Private: No

Garage/Parking

  • Garage Spaces: 3.00
  • Total Parking Spaces: 3.00

Utilities

  • Sewer: Public Sewer
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No
  • Community Features: Sidewalks, Street Lights

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: 2-5 Units/Acre
  • Lot Size Sq Ft: 5225.00
  • Lot Size Acres: 0.1199

Rental Info

  • Tenant Pays: Electricity, Gas

Multi Family

  • Gross Income: 54972.00
  • Gross Multiplier: 15.00
  • Gross Scheduled Income: 54972.00
  • Lot Size Area: 5225.0000 Square Feet
  • Net Operating Income: 37381.00
  • Number Of Separate Electric Meters: 5
  • Number Of Separate Gas Meters: 5
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 4
  • Number Of Units Total: 4
  • Operating Expense: 17591.00
  • Rent Control: No
  • Total Actual Rent: 4581.00

Tax Info

  • Tax Census Tract: 5731.00
  • Tax Lot: 16
  • Tax Tract Number: 20

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Nov 2, 2016
Closed on
Jan 30, 2017
Sold by
Khoshoryan Zhirayr Jerry and Khoshoryan Mariam
Bought by
Alvarado Manuel
Seller's Agent
Kristina Moore
The Moore Group
Buyer's Agent
Saul Miranda
Amer Ex Realty Inc.
List Price
$849,000
Sold Price
$825,000
Premium/Discount to List
-$24,000
-2.83%
Current Estimated Value
$1,380,027

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$555,027
Avg. Annual Appreciation
6.09%
Original Mortgage
$600,000
Outstanding Balance
$497,642
Interest Rate
4.09%
Mortgage Type
New Conventional
Estimated Equity
$869,714

Purchase Details

Closed on
Apr 12, 2006
Sold by
Biel Donald G and Biel Phyllis A
Bought by
Khoshoryan Zhirayr Jerry and Khoshoryan Mariam

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$637,500
Interest Rate
3%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
Dec 20, 2004
Sold by
Bruce Kristin
Bought by
Biel Donald G and Biel Phyllis A

Purchase Details

Closed on
Jun 14, 2004
Sold by
Biel Donald G and Biel Phyllis A
Bought by
Bruce Kristin

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$540,000
Interest Rate
6.3%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
May 23, 2003
Sold by
Moreno Edward
Bought by
Biel Donald G and Biel Phyllis A

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$324,000
Interest Rate
5.37%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
Apr 17, 2001
Sold by
Moreno Edward and Moreno Mary Lou
Bought by
Moreno Edward

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$225,000
Interest Rate
6.98%
Source: Public Records

Range of Values:

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Average Value
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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
Alvarado Manuel $825,000 North American Title Company
Khoshoryan Zhirayr Jerry $850,000 Southland Title Corporation
Biel Donald G -- --
Bruce Kristin $600,000 Southland Title Corporation
Biel Donald G $410,000 Southland Title Corporation
Moreno Edward -- First American Title Ins Co
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Alvarado Manuel $600,000
Previous Owner Khoshoryan Zhirayr Jerry $637,500
Previous Owner Bruce Kristin $540,000
Previous Owner Biel Donald G $324,000
Previous Owner Moreno Edward $225,000
Closed Biel Donald G $40,500
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
03/01/2017 03/01/17 Sold $825,000 -2.8% $220 / Sq Ft
01/31/2017 01/31/17 Pending -- -- --
01/18/2017 01/18/17 For Sale $849,000 0.0% $226 / Sq Ft
12/29/2016 12/29/16 Pending -- -- --
11/02/2016 11/02/16 For Sale $849,000 -- $226 / 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 $12,554 $957,478 $290,145 $667,333
2024 $12,554 $938,705 $284,456 $654,249
2023 $12,342 $920,300 $278,879 $641,421
2022 $11,594 $902,256 $273,411 $628,845
2021 $11,351 $884,565 $268,050 $616,515
2019 $11,189 $858,330 $260,100 $598,230
2018 $10,853 $841,500 $255,000 $586,500
2016 $8,139 $650,000 $325,000 $325,000
2015 $7,366 $600,000 $300,000 $300,000
2014 $6,666 $530,000 $265,000 $265,000
Source: Public Records

Agents Affiliated with this Home

  • Kristina Moore

    Seller's Agent in 2017

    Kristina Moore

    The Moore Group

    (714) 809-7608

    27 Total Sales

    Kristina Moore
    Section Image

  • S

    Buyer's Agent in 2017

    Saul Miranda

    Amer Ex Realty Inc.

    (562) 753-1584

    48 Total Sales

    Saul Miranda
    Section Image
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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PW16738125

California Regional Multiple Listing Service (CRMLS)

APN: 7205-004-012

California Los Angeles County Long Beach 90806 South Wrigley

2538 Cedar Ave, Long Beach, CA

This home is located at 2538 Cedar Ave, Long Beach, CA 90806 since 02 November 2016 and is currently estimated at $1,380,027, approximately $368 per square foot. This property was built in 1960. 2538 Cedar Ave is a home located in Los Angeles County with nearby schools including Lafayette Elementary School, Washington Middle School, and Juan Rodriguez Cabrillo High School.

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.

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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