NOT LISTED FOR SALE
5 Beds
5 Baths
8,206 Sq Ft
7,502 Sq Ft Lot

Last Sold June 15, 2023

Last sale price $3,419,000 $417 Per Sq Ft

Highlights

  • No HOA
  • Laundry Room
  • Block Wall Fence
  • Woodrow Wilson High School Rated A
  • Concrete Flooring
  • Radiant Heating System

About This Home

As of June 2023

Twelve unit apartment building in prime Bluff Heights location. Units consist of: 8- spacious 1 bedroom/1 bathroom units, 2- spacious 2 bedroom/1 bathroom units, 1 large 2 bedroom/2 bathroom unit and 1 studio. 6 individual garages and 5 tandem exterior parking spaces located across the alley on APN 7257-028-023 (lot tied). Several units have upgraded laminate plank flooring, updated kitchens, and updated bathroom vanities. Units are flooded with natural light. Highly desirable location with easy access to Bluff Park and the ocean. Conveniently located between downtown Long Beach and Belmont Shore. Building is being sold with 3021 Mariquita (APN 7257-028-023) as the lots are tied.

Last Agent to Sell the Property

G. Michael Lawrence

GML Homes, Inc. License #01813654 Listed on: 03/24/2023

Last Buyer's Agent

Crystal Ortiz

eXp Realty of Greater Los Angeles, Inc. License #01943860

eXp Realty of Greater Los Angeles, Inc.

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1963

Lot Details

  • 7,502 Sq Ft Lot
  • Two or More Common Walls
  • Block Wall Fence
  • 7257028003

Parking

  • 10 Open Parking Spaces
  • 6 Car Garage
  • Parking Available
  • Assigned Parking

Home Design

  • Apartment
  • Slab Foundation
  • Shingle Roof
  • Partial Copper Plumbing

Interior Spaces

  • 8,206 Sq Ft Home
  • 2-Story Property

Kitchen

  • Electric Range
  • Free-Standing Range
  • Dishwasher

Flooring

  • Carpet
  • Laminate
  • Concrete

Bedrooms and Bathrooms

  • 5 Bedrooms
  • 5 Bathrooms

Laundry

  • Laundry Room
  • Laundry Located Outside

Home Security

  • Carbon Monoxide Detectors
  • Fire and Smoke Detector

Outdoor Features

  • Exterior Lighting

Utilities

  • Radiant Heating System
  • Cable TV Available

Listing and Financial Details

  • Tenant pays for all utilities, cable TV
  • Legal Lot and Block 6 / U
  • Tax Tract Number 5767
  • Assessor Parcel Number 7257028003
  • $2,141 per year additional tax assessments

Community Details

Overview

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

Amenities

  • Laundry Facilities

Building Details

  • 12 Leased Units
  • 13 Separate Electric Meters
  • 1 Separate Water Meter
  • Electric Expense $2,391
  • Gardener Expense $1,128
  • Insurance Expense $2,716
  • Professional Management Expense $12,648
  • Water Sewer Expense $3,083
  • New Taxes Expense $45,000
  • Operating Expense $84,966
  • Gross Income $1,800
  • Net Operating Income $135,474

Property Details

Home Type

Multi-Family

Year Built

Built in 1963

Lot Details

0

Parking

6

Listing Details

  • Assessments: No
  • Price Per Unit: 300000
  • Professional Management Expense: 12648.00
  • Property Attached: Yes
  • Road Surface Type: Paved
  • Security: Carbon Monoxide Detector(s), Smoke Detector(s)
  • Subdivision Name Other: Historic Bluff Heights
  • View: No
  • Water Sewer Expenses: 3083.00
  • Zoning: LBR2A
  • Property Sub Type: Apartment
  • Property Type: Residential Income
  • Gardener Expense: 1128.00
  • Parcel Number: 7257028003
  • Year Built: 1963
  • Special Features: None

Interior Features

  • Fireplace: No
  • Interior Amenities: Copper Plumbing Partial
  • Stories: 2
  • Common Walls: 2+ Common Walls
  • Flooring: Carpet, Concrete, Laminate
  • Accessibility Features: See Remarks
  • Appliances: Yes
  • Levels: Two
  • Price Per Square Foot: 416.65

Exterior Features

  • Foundation: Slab
  • Fence: Yes
  • Fencing: Block
  • Pool Private: No
  • Roof: Shingle
  • Spa: No

Garage/Parking

  • Garage Spaces: 6.00
  • Parking: Yes
  • Parking Features: Assigned
  • Total Parking Spaces: 16.00
  • Uncovered Spaces: 10.00

Utilities

  • Utilities: Cable Available, Electricity Connected, Sewer Connected, Water Connected
  • Heating: Yes
  • Laundry: Yes
  • Appliances: Dishwasher, Electric Range, Free-Standing Range
  • Electric: Electricity - On Property
  • Heating Type: Electric, Radiant
  • Laundry Features: Common Area, Outside
  • Sewer: Public Sewer
  • Water Source: Public

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Common Interest: Community Apartment
  • Community Features: Curbs, Sidewalks, Street Lights

Lot Info

  • Additional Parcels: Yes
  • Additional Parcels Description: 7257028003
  • Land Lease: No
  • Lot Features: Lot 6500-9999
  • Lot Size Sq Ft: 7502.00
  • Lot Size Acres: 0.1722

Rental Info

  • Tenant Pays: All Utilities, Cable TV

Multi Family

  • Average1 Bed Area: 580 Square Feet
  • Average2 Bed Area: 1000 Square Feet
  • Average Studio Area: 400 Square Feet
  • Electric Expense: 2391.00
  • Garage Income: 150.00
  • Gross Income: 1800.00
  • Gross Operating Income: 220440.00
  • Gross Scheduled Income: 220440.00
  • Insurance Expense: 2716.00
  • Laundry Equipment Own Lease: Own
  • Lot Size Area: 7502.0000 Square Feet
  • Maintenance Percent: 0.50
  • Net Operating Income: 135474.00
  • Number Of Rented Garages: 1
  • Number Of Separate Electric Meters: 13
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 12
  • Number Of Units Total: 12
  • Number With Range: 12
  • Operating Expense: 84966.00
  • Rent Control: No
  • Total Actual Rent: 18220.00
  • Total Expenses: 84966.00

Tax Info

  • New Taxes Expense: 45000.00
  • Tax Block: U
  • Tax Census Tract: 5767.00
  • Tax Lot: 6
  • Tax Tract Number: 5767
  • TaxOtherAnnualAssessmentAmount: 2141.00

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 Change Sq Ft Price
06/15/2023 06/15/23 Sold $3,419,000 -5.0% $417 / Sq Ft
03/24/2023 03/24/23 Pending -- -- --
03/24/2023 03/24/23 For Sale $3,600,000 -- $439 / 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: SB23047402

California Regional Multiple Listing Service (CRMLS)