NOT LISTED FOR SALE
7 Beds
5 Baths
19,911 Sq Ft
8,915 Sq Ft Lot

Sale Details

Date Sold: November 8, 2017

Last sale price $8,600,000 $432 Per Sq Ft

6 Days on Market

Highlights

  • 8,915 Sq Ft lot
  • Cul-De-Sac
  • Radiant Heating System
  • Long Beach Polytechnic High School Rated A
  • Laundry Facilities

About This Home

As of November 2017

Rare Ocean Front apartment located in the highly desired Alamitos Beach area. This 15 unit apartment is a 3-story Building with private ocean view balconies and lower units leading out to the sand. Consists of (3) 2 Bed/2 Bath, (9) 2 Bed/2 Bath, (3) 3 Bed/2 Bath. Each unit comes with 1 subterranean parking space. Steps from the Pacific Ocean and feet from the shoreline pedestrian bike path.

Last Agent to Sell the Property

Scott Hamilton

Engel & Völkers Long Beach License #01125930 Listed on: 09/19/2017

Engel & Völkers Long Beach

Last Buyer's Agent

Scott Hamilton

Engel & Völkers Long Beach License #01125930 Listed on: 09/19/2017

Engel & Völkers Long Beach
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Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1961

Lot Details

  • 8,915 Sq Ft Lot
  • Two or More Common Walls
  • Cul-De-Sac

Parking

  • 15 Car Garage
  • Parking Available
  • Assigned Parking

Home Design

  • Property Attached

Interior Spaces

  • 19,911 Sq Ft Home
  • 3-Story Property

Bedrooms and Bathrooms

  • 7 Bedrooms
  • 5 Bathrooms

Utilities

  • Radiant Heating System

Listing and Financial Details

  • Legal Lot and Block 002 / 008
  • Tax Tract Number 7265
  • Assessor Parcel Number 7265008002

Community Details

Building Details

  • 16 Separate Electric Meters
  • 15 Separate Gas Meters
  • 1 Separate Water Meter
  • Electric Expense $1,440
  • Gardener Expense $1,440
  • Insurance Expense $5,994
  • Maintenance Expense $6,750
  • Other Expense $2,250
  • Professional Management Expense $23,976
  • Trash Expense $3,000
  • Water Sewer Expense $8,560
  • New Taxes Expense $96,875
  • Operating Expense $152,285
  • Gross Income $401,400
  • Net Operating Income $237,073

Additional Features

  • 15 Units
  • Laundry Facilities

Property Details

Home Type

Multi-Family

Year Built

Built in 1961

Lot Details

8,915 Sq Ft Lot

Parking

15

Listing Details

  • CapRate: 3.06
  • Professional Management Expense: 23976.00
  • Property Attached: Yes
  • Subdivision Name Other: Alamitos Beach (AB)
  • Water Sewer Expenses: 8560.00
  • Zoning: LBPD5
  • Property Type: Residential Income
  • Gardener Expense: 1440.00
  • Parcel Number: 7265008002
  • Year Built: 1961
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Stories: 3
  • Common Walls: 2+ Common Walls
  • Levels: Three Or More
  • Price Per Square Foot: 431.92

Exterior Features

  • Pool Private: No

Garage/Parking

  • Garage Spaces: 15.00
  • Parking: Yes
  • Parking Features: Assigned
  • Total Parking Spaces: 15.00

Utilities

  • Heating: Yes
  • Laundry: Yes
  • Heating Type: Radiant
  • Laundry Features: Community
  • Sewer: Public Sewer
  • Trash Expense: 3000.00
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No
  • Community Features: Sidewalks

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: Cul-De-Sac
  • Lot Size Sq Ft: 8915.00

Multi Family

  • Electric Expense: 1440.00
  • Gross Income: 401400.00
  • Gross Multiplier: 19.39
  • Gross Operating Income: 389358.00
  • Gross Scheduled Income: 399600.00
  • Insurance Expense: 5994.00
  • Laundry Income: 1800.00
  • Maintenance Expense: 6750.00
  • Net Operating Income: 237073.00
  • Number Of Separate Electric Meters: 16
  • Number Of Separate Gas Meters: 15
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 15
  • Operating Expense: 152285.00
  • Other Expense: 2250.00
  • Other Expense Description: Reserves
  • Rent Control: No
  • Total Expenses: 152285.00
  • Vacancy Allowance Rate: 3.00

Tax Info

  • New Taxes Expense: 96875.00
  • Tax Block: 008
  • Tax Census Tract: 5766.01
  • Tax Lot: 002
  • Tax Tract Number: 7265

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
-- Fidelity National Title
Ling Paul Siong Kuong $8,600,000 Orange Coast Title Company
Dyer Laurence Edward -- None Available
Rohwedder Roberta S -- None Available
Santiago Management Llc $1,000 None Available
Lewis Todd R $434,000 Chicago Title Co
Dyer Laurence E -- --
Dyer Lloyd E -- --
Dyer Lloyd E -- --
Zandbergen Jacobus -- Old Republic Title Company
Zandbergen Jacqueline $45,000 Old Republic Title Company
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
Previous Owner $4,760,000
Previous Owner Ling Paul Siong Kuang $4,200,000
Previous Owner Raitt Andrew $100,000
Previous Owner Raitt Andrew $32,250
Previous Owner Lewis Todd R $347,200
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
11/08/2017 11/08/17 Sold $8,600,000 +11.0% $432 / Sq Ft
09/25/2017 09/25/17 Pending -- -- --
09/19/2017 09/19/17 For Sale $7,750,000 -- $389 / 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 $47,955 $3,545,233 $2,605,379 $939,854
2025 $47,955 $3,475,720 $2,554,294 $921,426
2024 $45,759 $3,407,569 $2,504,210 $903,359
2023 $44,985 $3,340,755 $2,455,108 $885,647
2022 $42,260 $3,275,251 $2,406,969 $868,282
2021 $41,327 $3,211,031 $2,359,774 $851,257
2020 $41,212 $3,179,307 $2,335,578 $843,729
2019 $40,733 $3,116,992 $2,289,783 $827,209
2018 $106,650 $8,601,200 $5,000,000 $3,601,200
2017 $26,101 $1,912,239 $773,510 $1,138,729
2016 $24,152 $1,874,745 $758,344 $1,116,401
2015 $23,222 $1,846,585 $746,953 $1,099,632
2014 $23,117 $1,810,414 $732,322 $1,078,092
Source: Public Records

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: OC17216850

California Regional Multiple Listing Service (CRMLS)
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