NOT LISTED FOR SALE
6 Beds
4 Baths
4,940 Sq Ft
6,477 Sq Ft Lot

Sale Details

Date Sold: March 15, 2016

Last sale price $1,800,000 $364 Per Sq Ft

21 Days on Market

Highlights

  • Dual Staircase
  • Fireplace in Kitchen
  • Spanish Architecture
  • Wilson High School Rated A
  • Wood Flooring
  • High Ceiling

About This Home

As of March 2016

This 6 unit Spanish/Boutique complex is located in the desirable Bluff Heights/Belmont Heights neighborhood of Long Beach. Features include an over sized lot at 6,477SF, a mix of: 3bd/1ba remodeled upper unit w/private laundry, a secure private patio, & front yard; a 1bd/1ba remodeled bungalow w/a secure private patio/yard area & personal parking space; 4 extra large 1bd/1ba units, fully remodeled w/private Laundry facilities and one of the units having an additional office/kids room. There are 5 garages along w/guest prkg.

All 4 1bd/1ba units & the Bungalow have been entirely redone w/Quartz counter tops, New kitchens, baths, appliances & light fixtures. The 3bd/1ba unit has a fully remodeled bath, upgraded kitchen, beautifully preserved hardwood floors,and new custom interior paint scheme. The Landscape has been transformed into an attractive destination with relaxing patio areas, wood decks, solar lights, and private yards with beautiful drought resistant plants, and stone walkways. This Property shows with functionality and beauty, and will achieve the highest rents possible.

The location approx. a half a mile from the beach and close to restaurants, coffee shops, downtown, parks and places of interest, will make any owner beam with pride.

Last Agent to Sell the Property

George Bustamante

Coldwell Banker Commercial License #01484265 Listed on: 01/04/2016

Coldwell Banker Commercial

Co-Listed By

Cameron Jacques

Kinnery's Brokerage House License #01852032

Last Buyer's Agent

David Goodwin

Fiv Realty Co License #01940769

Fiv Realty Co
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Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1923 | Remodeled

Lot Details

  • 6,477 Sq Ft Lot
  • Property fronts an alley
  • Two or More Common Walls
  • Wood Fence
  • Level Lot
  • Back Yard
  • Density is 11-15 Units/Acre

Parking

  • 5 Car Garage
  • Parking Available
  • Assigned Parking

Home Design

  • Spanish Architecture
  • Property Attached
  • Turnkey
  • Combination Foundation
  • Asphalt Roof

Interior Spaces

  • 4,940 Sq Ft Home
  • 2-Story Property
  • Dual Staircase
  • High Ceiling
  • Gas Fireplace
  • Custom Window Coverings
  • Living Room with Fireplace

Kitchen

  • Gas Range
  • Fireplace in Kitchen

Flooring

  • Wood
  • Tile

Bedrooms and Bathrooms

  • 6 Bedrooms
  • 4 Bathrooms

Laundry

  • Laundry in unit
  • Stacked Washer and Dryer

Outdoor Features

  • Exterior Lighting
  • Rain Gutters

Utilities

  • Floor Furnace
  • Wall Furnace
  • Gas Water Heater

Additional Features

  • Accessible Parking
  • Urban Location

Listing and Financial Details

  • Tax Lot 21
  • Tax Tract Number 7257
  • Assessor Parcel Number 7257024021

Community Details

Overview

  • 3 Buildings
  • 6 Units

Amenities

  • Laundry Facilities

Building Details

  • 6 Separate Electric Meters
  • 6 Separate Gas Meters
  • 1 Separate Water Meter
  • Gross Income $10,275
  • Net Operating Income $84,286

Property Details

Home Type

Multi-Family

Year Built

Built in 1923 | Remodeled

Lot Details

6,477 Sq Ft Lot

Parking

5

Listing Details

  • Assessments: Yes
  • CapRate: 4.51
  • Inclusions: Appliances - list provided in escrow
  • Property Attached: Yes
  • Road Frontage Type: Alley
  • Road Surface Type: Alley Paved
  • Subdivision Name Other: Belmont Heights (BH)
  • Architectural Style: Spanish
  • Property Condition: Updated/Remodeled, Turnkey
  • Property Type: Residential Income
  • Parcel Number: 7257024021
  • Year Built: 1923
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Fireplace: Yes
  • Interior Amenities: 2 Staircases, High Ceilings
  • Stories: 2
  • Common Walls: 2+ Common Walls
  • Flooring: Tile, Wood
  • Accessibility Features: Parking
  • Appliances: Yes
  • Fireplace Features: Gas, Kitchen, Living Room
  • Levels: Two
  • Price Per Square Foot: 364.37
  • Window Features: Custom Covering

Exterior Features

  • Foundation: Combination
  • Fencing: Wood
  • Pool Private: No
  • Roof: Asphalt

Garage/Parking

  • Garage Spaces: 5.00
  • Parking: Yes
  • Parking Features: Assigned
  • Total Parking Spaces: 16.00

Utilities

  • Utilities: Natural Gas Available, Sewer Available, Water Connected
  • Heating: Yes
  • Laundry: Yes
  • Appliances: Gas Range, Gas Water Heater
  • Electric: Electricity - On Property
  • Heating Type: Floor Furnace, Wall Furnace
  • Laundry Features: Inside, Stackable
  • Water Source: Public

Condo/Co-op/Association

  • Community Features: Curbs, Gutters, Sidewalks, Street Lights, Urban

Lot Info

  • Lot Features: Back Yard, 11-15 Units/Acre, Level with Street
  • Lot Size Sq Ft: 6477.00
  • Price Per Lot Square Foot: 277.91
  • Lot Size Acres: 0.1490

Multi Family

  • Gross Income: 10275.00
  • Gross Multiplier: 15.17
  • Gross Scheduled Income: 123300.00
  • Lot Size Area: 6477.0000 Square Feet
  • Net Operating Income: 84286.00
  • Number Of Separate Electric Meters: 6
  • Number Of Separate Gas Meters: 6
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 6
  • Operating Expense: 35316.00
  • Rent Control: No
  • Vacancy Allowance Rate: 3.00

Tax Info

  • Tax Lot: 21
  • Tax Tract Number: 7257

Ownership History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Name Owned For Owner Type

Purchase Details

Listed on
Jan 4, 2016
Closed on
Mar 4, 2016
Sold by
Temple Apartment Investors Llc
Bought by
Seller's Agent
George Bustamante
Coldwell Banker Commercial
Buyer's Agent
David Goodwin
Fiv Realty Co
List Price
$1,870,000
Sold Price
$1,800,000
Premium/Discount to List
-$70,000
-3.74%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,063,000
Interest Rate
3.79%
Mortgage Type
Future Advance Clause Open End Mortgage

Purchase Details

Closed on
May 27, 2015
Sold by
Chelsea Rose Properties Llc
Bought by
Temple Apartment Investors Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,102,500
Interest Rate
3.98%
Mortgage Type
Commercial

Purchase Details

Closed on
Mar 31, 2005
Sold by
Ingram Thomas P
Bought by
Chelsea Rose Properties Llc

Purchase Details

Closed on
Apr 3, 2003
Sold by
Ingram Twila Ann
Bought by
Ingram Thomas P

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$480,750
Interest Rate
6.25%
Mortgage Type
Commercial

Purchase Details

Closed on
Mar 27, 2003
Sold by
Philhower Herman N and The Herman N Philhower Trust
Bought by
Ingram Thomas P

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$480,750
Interest Rate
6.25%
Mortgage Type
Commercial
Source: Public Records

Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

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Purchase History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Buyer Sale Price Title Company
$1,800,000 Fidelity National Title Co
Temple Apartment Investors Llc $1,175,000 Fidelity National Title Co
Chelsea Rose Properties Llc -- --
Ingram Thomas P -- --
Ingram Thomas P $641,000 Fidelity
Source: Public Records

Mortgage History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Status Borrower Loan Amount
Open $980,000
Closed Nd Stanvard Llc $1,063,000
Previous Owner Temple Apartment Investors Llc $1,102,500
Previous Owner Chelsea Rose Properties Llc $80,000
Previous Owner Chelsea Rose Properties Llc $750,000
Previous Owner Ingram Thomas P $480,750
Source: Public Records

Property History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Event Price List to Sale Price per Sq Ft
03/15/2016 03/15/16 Sold $1,800,000 -3.7% $364 / Sq Ft
01/25/2016 01/25/16 Pending -- -- --
01/04/2016 01/04/16 For Sale $1,870,000 -- $379 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

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
2026 $28,435 $2,173,445 $1,521,413 $652,032
2025 $28,435 $2,130,830 $1,491,582 $639,248
2024 $27,177 $2,089,050 $1,462,336 $626,714
2023 $26,720 $2,048,089 $1,433,663 $614,426
2022 $25,075 $2,007,931 $1,405,552 $602,379
2021 $24,576 $1,968,561 $1,377,993 $590,568
2020 $24,512 $1,948,377 $1,363,864 $584,513
2019 $24,225 $1,910,174 $1,337,122 $573,052
2018 $23,594 $1,872,720 $1,310,904 $561,816
2016 $14,684 $1,192,918 $913,725 $279,193
2015 $9,570 $772,452 $506,132 $266,320
2014 $9,526 $757,322 $496,218 $261,104
Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PW16001502

California Regional Multiple Listing Service (CRMLS)
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