R
Seller's Agent in 2015
Ryan Rayburn
Marcus & Millichap
278 Falcon Ave Long Beach, CA 90802
North Alamitos Beach Neighborhood
2
Beds
7
Baths
4,452
Sq Ft
4,966
Sq Ft
Highlights
- Gated Community
- 0.11 Acre Lot
- West Facing Home
- Long Beach Polytechnic High School Rated A
- Laundry Room
- 4-minute walk to Miracle On Fourth Street Park
About This Home
As of November 2015I am proud to offer the well -maintained 10-unit apartment building located at 278 Falcon Avenue in Long Beach, California. The property is south of 3rd Street and three blocks west of Cherry Avenue in the heart of Long Beach’s Alamitos Beach neighborhood. Built in 1923 with wood framing, the painted stucco building offers 4,452 rentable square feet on a 4,986-square foot lot. The property features a unit mix of two one- bedroom/one bathroom and eight studio/one-bathroom units. The property is master metered for gas and electricity and offers on-site laundry for tenants’ convenience. 278 Falcon Avenue is a rare opportunity to purchase a very well-maintained apartment in a high demand rental market. With a stable return on current numbers and true upside rents for a more aggressive management style, this "value add" opportunity would be a perfect addition to any investor's portfolio.
Last Agent to Sell the Property
Ryan Rayburn
Marcus & Millichap License #01496522 Listed on: 08/17/2015
Last Buyer's Agent
Ryan Rayburn
Marcus & Millichap License #01496522 Listed on: 08/17/2015
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1923
Lot Details
- 4,986 Sq Ft Lot
- Property fronts an alley
- Two or More Common Walls
- West Facing Home
- Back Yard
- Density is 6-10 Units/Acre
Home Design
- Property Attached
- Raised Foundation
- Composition Roof
Interior Spaces
- 4,452 Sq Ft Home
- 2-Story Property
- Laundry Room
Bedrooms and Bathrooms
- 2 Bedrooms
- 7 Bathrooms
Home Security
- Carbon Monoxide Detectors
- Fire and Smoke Detector
Additional Features
- Urban Location
- Wall Furnace
Listing and Financial Details
- Tenant pays for cable TV
- Legal Lot and Block 1,2 / 3
- Tax Tract Number 576502
- Assessor Parcel Number 7275012015
Community Details
Building Details
- 1 Separate Electric Meter
- 1 Separate Gas Meter
- 1 Separate Water Meter
- Electric Expense $3,216
- Insurance Expense $2,003
- Maintenance Expense $5,460
- Other Expense $2,150
- Professional Management Expense $5,353
- Water Sewer Expense $6,900
- New Taxes Expense $15,188
- Gross Income $9,200
- Net Operating Income $66,817
Additional Features
- 10 Units
- Laundry Facilities
- Gated Community
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Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 11/16/2015 11/16/15 | Sold | $1,375,000 | -3.5% | $309 / Sq Ft |
| 10/08/2015 10/08/15 | Pending | -- | -- | -- |
| 08/17/2015 08/17/15 | For Sale | $1,425,000 | -- | $320 / 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 | $21,495 | $1,627,716 | $1,183,794 | $443,922 |
| 2024 | $21,495 | $1,595,801 | $1,160,583 | $435,218 |
| 2023 | $21,117 | $1,564,512 | $1,137,827 | $426,685 |
| 2022 | $19,830 | $1,533,836 | $1,115,517 | $418,319 |
| 2021 | $19,414 | $1,503,762 | $1,093,645 | $410,117 |
| 2019 | $19,136 | $1,459,821 | $1,061,208 | $398,613 |
| 2018 | $18,643 | $1,431,210 | $1,040,400 | $390,810 |
| 2016 | $17,169 | $1,375,000 | $1,000,000 | $375,000 |
| 2015 | $12,502 | $1,000,000 | $574,200 | $425,800 |
| 2014 | $12,678 | $1,000,000 | $574,200 | $425,800 |
Source: Public Records
Agents Affiliated with this Home
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: PW15182025
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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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