NOT LISTED FOR SALE
1 Bed
1 Bath
4,148 Sq Ft
4,510 Sq Ft Lot

Last Sold December 10, 2024

Last sale price $1,585,000 $382 Per Sq Ft

60 Days on Market

Highlights

  • Golf Course Community
  • Property is near public transit
  • Wood Flooring
  • Woodrow Wilson High School Rated A
  • Traditional Architecture
  • Lawn

About This Home

As of December 2024

Well maintained, 7 Units (All 1 br's) apartment building in Alamitos Beach! First time on the market in 50 years! Excellent low vacancy rental area! Low maintenance, clean, conforming building with a pleasant grass courtyard. Recent exterior paint. New water heater installed April 2024. Upgraded windows. Laundry room and owners storage room (for bldg. maintenance supplies). See attached supplements for rent roll, expenses and analysis details. This is priced to sell !

Last Agent to Sell the Property

Mark Kachigan

Pabst, Kinney & Associates Brokerage Phone: 562-225-4848 License #00644779 Listed on: 08/22/2024

Last Buyer's Agent

Alec Kara

Keller Williams Pacific Estate License #02030808

Keller Williams Pacific Estate

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1950

Lot Details

  • 4,510 Sq Ft Lot
  • Lot Dimensions are 41 x 110
  • Two or More Common Walls
  • Rectangular Lot
  • Level Lot
  • Lawn

Parking

  • On-Street Parking

Home Design

  • Traditional Architecture
  • Apartment
  • Entry on the 1st floor
  • Raised Foundation
  • Composition Roof
  • Partial Copper Plumbing
  • Stucco

Interior Spaces

  • 4,148 Sq Ft Home
  • 2-Story Property
  • Wood Flooring
  • Tile Countertops
  • Laundry Room

Bedrooms and Bathrooms

  • 1 Bedroom
  • 1 Bathroom

Home Security

  • Carbon Monoxide Detectors
  • Fire and Smoke Detector

Utilities

  • Wall Furnace
  • Natural Gas Connected

Additional Features

  • Exterior Lighting
  • Property is near public transit

Listing and Financial Details

  • Tenant pays for cable TV, electricity, gas
  • Tax Lot 11
  • Assessor Parcel Number 7257022013
  • $1,240 per year additional tax assessments

Community Details

Overview

  • No Home Owners Association
  • 7 Units
  • Belmont Heights Subdivision

Amenities

  • Laundry Facilities

Recreation

  • Golf Course Community
  • Park
  • Dog Park
  • Bike Trail

Building Details

  • Rent Control
  • 8 Separate Electric Meters
  • 8 Separate Gas Meters
  • 1 Separate Water Meter
  • Gardener Expense $600
  • Insurance Expense $4,800
  • Maintenance Expense $6,500
  • Other Expense $3,180
  • Pest Control $1,345
  • Professional Management Expense $5,400
  • Supplies Expense $1,200
  • Trash Expense $1,200
  • New Taxes Expense $19,000
  • Operating Expense $45,145
  • Gross Income $126,300
  • Net Operating Income $81,155

Property Details

Home Type

Multi-Family

Year Built

Built in 1950

Lot Details

0

Listing Details

  • Assessments: Yes
  • CapRate: 4.80
  • Professional Management Expense: 5400.00
  • Property Attached: Yes
  • Road Frontage Type: City Street
  • Road Surface Type: Paved
  • Security: Carbon Monoxide Detector(s), Smoke Detector(s)
  • Subdivision Name Other: Belmont Heights (BH)
  • Supplies Expense: 1200.00
  • View: No
  • Zoning: LBR2A
  • Architectural Style: Traditional
  • Property Sub Type: Apartment
  • Property Type: Residential Income
  • Gardener Expense: 600.00
  • Parcel Number: 7257022013
  • Year Built: 1950
  • Special Features: None

Interior Features

  • Fireplace: No
  • Interior Amenities: Copper Plumbing Partial, Tile Counters
  • Stories: 2
  • Common Walls: 2+ Common Walls
  • Flooring: Wood
  • Entry Level: 1
  • Price Per Square Foot: 382.11

Exterior Features

  • Foundation: Raised
  • Pool Private: No
  • Roof: Composition
  • Spa: No
  • Construction Materials: Stucco

Garage/Parking

  • Parking: No
  • Parking Features: Street

Utilities

  • Utilities: Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
  • Heating: Yes
  • Laundry: Yes
  • Heating Type: Wall Furnace
  • Laundry Features: Community
  • Pest Control Expense: 1345.00
  • Sewer: Public Sewer
  • Trash Expense: 1200.00
  • Water Source: Public

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Common Interest: Community Apartment
  • Community Features: Biking, Curbs, Dog Park, Golf, Park, Sidewalks, Storm Drains, Street Lights

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: Lawn, Level with Street, Rectangular Lot, Near Public Transit, Walkstreet
  • Lot Size: 41 X 110
  • Lot Size Sq Ft: 4510.00
  • Lot Size Acres: 0.1035

Rental Info

  • Tenant Pays: Cable TV, Electricity, Gas

Multi Family

  • Average1 Bed Area: 593 Square Feet
  • Gross Multiplier: 13.00
  • Gross Operating Income: 126300.00
  • Gross Scheduled Income: 130200.00
  • Insurance Expense: 4800.00
  • Laundry Equipment Own Lease: Own
  • Lot Size Area: 4510.0000 Square Feet
  • Maintenance Expense: 6500.00
  • Maintenance Percent: 5.00
  • Net Operating Income: 81155.00
  • Number Of Separate Electric Meters: 8
  • Number Of Separate Gas Meters: 8
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 7
  • Operating Expense: 45145.00
  • Operating Expense Percent: 35.00
  • Other Expense: 3180.00
  • Other Expense Description: Utility
  • Rent Control: Yes
  • Total Actual Rent: 10850.00
  • Total Expenses: 45145.00
  • Vacancy Allowance Rate: 3.00

Tax Info

  • New Taxes Expense: 19000.00
  • Tax Census Tract: 5768.02
  • Tax Lot: 11
  • Tax Tract Number: 0000
  • TaxOtherAnnualAssessmentAmount: 1240.00

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
12/10/2024 12/10/24 Sold $1,585,000 -6.5% $382 / Sq Ft
10/21/2024 10/21/24 Pending -- -- --
08/22/2024 08/22/24 For Sale $1,695,000 -- $409 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PW24170870

California Regional Multiple Listing Service (CRMLS)