NOT LISTED FOR SALE

2704 E Spaulding St Long Beach, CA 90804

Zaferia Neighborhood

Estimated Value: $1,102,000 - $1,276,000

6 Beds
4 Baths
2,319 Sq Ft
$527/Sq Ft Est. Value

Last Sold June 30, 2017

Last sale price $730,000 $315 Per Sq Ft

Est. 67% increase in value since last sale

Current estimated payment $7,445/month

7 Days on Market

Highlights

  • Granite Countertops
  • No HOA
  • Laundry Room
  • Woodrow Wilson High School Rated A
  • Living Room
  • 3-minute walk to Orizaba Park

About This Home

As of June 2017

Great starter investment consisting of 2 cottage style homes, plus rear duplex. Recently remodeled interiors of front 3 bedroom house and rear duplex units. Very well qualified new residents. Low market inventory, so hurry and submit your offer subject to interior inspection.

Last Agent to Sell the Property

Hal Pappano

Capitalvest, Inc. License #00758111 Listed on: 05/04/2017

Last Buyer's Agent

Hal Pappano

Capitalvest, Inc. License #00758111 Listed on: 05/04/2017

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1919

Lot Details

  • 6,446 Sq Ft Lot
  • Property fronts an alley
  • 1 Common Wall
  • Wood Fence
  • Sprinkler System
  • Back Yard

Parking

  • 3 Open Parking Spaces
  • 1 Car Garage

Home Design

  • Property Attached
  • Slab Foundation
  • Composition Roof

Interior Spaces

  • 2,319 Sq Ft Home
  • 2-Story Property
  • Window Screens
  • Living Room
  • Laundry Room

Kitchen

  • Gas Cooktop
  • Granite Countertops
  • Formica Countertops

Flooring

  • Carpet
  • Laminate
  • Tile

Bedrooms and Bathrooms

  • 6 Bedrooms
  • 4 Bathrooms

Home Security

  • Carbon Monoxide Detectors
  • Fire and Smoke Detector

Utilities

  • Wall Furnace
  • 220 Volts in Kitchen
  • Water Heater
  • Sewer Paid

Listing and Financial Details

  • Tenant pays for electricity
  • Tax Lot 30
  • Tax Tract Number 1577
  • Assessor Parcel Number 7260018021

Community Details

Overview

  • No Home Owners Association
  • 3 Buildings
  • 4 Units

Amenities

  • Laundry Facilities

Building Details

  • 4 Leased Units
  • 4 Separate Electric Meters
  • 4 Separate Gas Meters
  • 4 Separate Water Meters
  • Insurance Expense $503
  • Trash Expense $420
  • New Taxes Expense $6,681
  • Operating Expense $420
  • Gross Income $56,040
  • Net Operating Income $35,866

Property Details

Home Type

Multi-Family

Year Built

Built in 1919

Lot Details

0

Parking

1

Listing Details

  • CapRate: 5.00
  • Property Attached: Yes
  • Road Frontage Type: Alley
  • Road Surface Type: Maintained
  • Security: Carbon Monoxide Detector(s), Smoke Detector(s)
  • Subdivision Name Other: North Long Beach (NLB)
  • Zoning: LBR2N
  • Property Type: Residential Income
  • Parcel Number: 7260018021
  • Year Built: 1919
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Interior Amenities: Formica Counters, Granite Counters
  • Stories: 2
  • Common Walls: 1 Common Wall
  • Flooring: Carpet, Laminate, Tile
  • Appliances: Yes
  • Levels: Two
  • Price Per Square Foot: 314.79
  • Room Type: Kitchen, Living Room
  • Window Features: Screens

Exterior Features

  • Foundation: Slab
  • Fence: Yes
  • Fencing: Wood
  • Pool Private: No
  • Roof: Composition

Garage/Parking

  • Garage Spaces: 1.00
  • Total Parking Spaces: 4.00
  • Uncovered Spaces: 3.00

Utilities

  • Utilities: Electricity Available, Electricity Connected, Natural Gas Available, Natural Gas Connected, Sewer Connected, Water Available, Water Connected
  • Heating: Yes
  • Laundry: Yes
  • Appliances: Gas Cooktop, Water Heater
  • Electric: 220 Volts in Kitchen
  • Heating Type: Wall Furnace
  • Laundry Features: Community
  • Sewer: Sewer Paid
  • Trash Expense: 420.00
  • Water Source: Public

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Community Features: Sidewalks

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: Back Yard, Sprinkler System
  • Lot Size Sq Ft: 6446.00

Rental Info

  • Tenant Pays: Electricity

Multi Family

  • Gross Income: 56040.00
  • Gross Multiplier: 12.83
  • Gross Scheduled Income: 56040.00
  • Insurance Expense: 502.78
  • Net Operating Income: 35865.60
  • Number Of Separate Electric Meters: 4
  • Number Of Separate Gas Meters: 4
  • Number Of Separate Water Meters: 4
  • Number Of Units Leased: 4
  • Number Of Units Total: 4
  • Number With Range: 4
  • Operating Expense: 19053.60
  • Operating Expense Percent: 34.00
  • Rent Control: No
  • Total Actual Rent: 4670.00
  • Total Expenses: 420.00
  • Vacancy Allowance Rate: 2.00

Tax Info

  • New Taxes Expense: 6680.90
  • Tax Census Tract: 5751.02
  • Tax Lot: 30
  • Tax Tract Number: 1577

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Apr 27, 2019
Sold by
Cistone Christopher A
Bought by
2004 Cistone Christopher A and 2004 Christopher A Cistone
Current Estimated Value
$1,222,573

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$601,300
Outstanding Balance
$527,574
Interest Rate
4.2%
Mortgage Type
Adjustable Rate Mortgage/ARM
Estimated Equity
$694,999

Purchase Details

Closed on
Mar 26, 2019
Sold by
Ha Huy N and Lam Cindy T
Bought by
Cistone Christopher A

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$601,300
Outstanding Balance
$527,574
Interest Rate
4.2%
Mortgage Type
Adjustable Rate Mortgage/ARM
Estimated Equity
$694,999

Purchase Details

Listed on
May 4, 2017
Closed on
May 30, 2017
Sold by
Nguyen Huy Quoc
Bought by
Lam Cindy T
Seller's Agent
Hal Pappano
Capitalvest, Inc.
Buyer's Agent
Hal Pappano
Capitalvest, Inc.
List Price
$719,000
Sold Price
$730,000
Premium/Discount to List
$11,000
1.53%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
6.27%
Original Mortgage
$547,500
Interest Rate
4.02%
Mortgage Type
New Conventional

Purchase Details

Listed on
May 4, 2017
Closed on
May 15, 2017
Sold by
Schorman Robert F and The William Schorman Revocable
Bought by
Ha Huy N and Lam Cindy T
Seller's Agent
Hal Pappano
Capitalvest, Inc.
Buyer's Agent
Hal Pappano
Capitalvest, Inc.
List Price
$719,000
Sold Price
$730,000
Premium/Discount to List
$11,000
1.53%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$547,500
Interest Rate
4.02%
Mortgage Type
New Conventional

Purchase Details

Closed on
Oct 6, 2010
Sold by
Schorman William and The William Schorman Revocable
Bought by
Schorman William

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$243,000
Interest Rate
4.26%
Mortgage Type
New Conventional

Purchase Details

Closed on
Mar 30, 2010
Sold by
Schorman William
Bought by
Liv Schorman William and Liv William Schorman Revocable

Purchase Details

Closed on
Dec 30, 2002
Sold by
Schorman William and Schorman Roberta
Bought by
Schorman William

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$227,500
Interest Rate
6.06%

Purchase Details

Closed on
Aug 12, 2002
Sold by
Schorman Roberta
Bought by
Schorman William
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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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
2004 Cistone Christopher A -- Pacific Coast Title
Cistone Christopher A $859,000 Wfg Title Company
Lam Cindy T -- Fntg Builder Services
Ha Huy N -- Fidelity National Title Co
Ha Huy N $730,000 Fntg Builder Services
Schorman William -- Ticor Title Tustin Orange Co
Liv Schorman William -- None Available
Schorman William -- First American Title Ins Co
Schorman William -- --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Cistone Christopher A $601,300
Previous Owner Ha Huy N $547,500
Previous Owner Schorman William $243,000
Previous Owner Schorman William $227,500
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
06/30/2017 06/30/17 Sold $730,000 +1.5% $315 / Sq Ft
05/04/2017 05/04/17 For Sale $719,000 -- $310 / 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 $12,463 $958,226 $613,533 $344,693
2024 $12,463 $939,438 $601,503 $337,935
2023 $12,250 $921,018 $589,709 $331,309
2022 $11,503 $902,960 $578,147 $324,813
2021 $11,271 $885,256 $566,811 $318,445
2020 $11,242 $876,420 $561,000 $315,420
2019 $9,906 $759,732 $468,180 $291,552
2018 $9,615 $744,840 $459,000 $285,840
2016 $6,681 $527,930 $304,575 $223,355
2015 $4,726 $369,466 $155,269 $214,197
2014 $4,713 $362,230 $152,228 $210,002
Source: Public Records

Agents Affiliated with this Home

  • Hal Pappano

    Seller's Agent in 2017

    Hal Pappano

    Capitalvest, Inc.

    (714) 257-9003

    7 Total Sales

    Hal Pappano
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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PW17091310

California Regional Multiple Listing Service (CRMLS)

APN: 7260-018-021

California Los Angeles County Long Beach 90804 Zaferia

2704 E Spaulding St, Long Beach, CA

Not Listed for Sale

MultiFamily

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