NOT LISTED FOR SALE

32 Argonne Ave Long Beach, CA 90803

Belmont Shore Neighborhood
4 Beds
5 Baths
2,934 Sq Ft
2,168 Sq Ft Lot

Last Sold February 21, 2020

Last sale price $1,895,000 $646 Per Sq Ft

8 Days on Market

Highlights

  • No HOA
  • Lowell Elementary School Rated A-
  • Property is near a preserve or public land

About This Home

As of February 2020

Totally Remodeled 5 unit building only steps from the sand in Belmont Shore! All units have been extensively renovated including kitchens, bathrooms, flooring, lighting, and finishes. Overall a beautifully restored 1930’s building full of character. Units newly leased at market rent, with no risk of rent rollbacks from AB 1482. Low maintenance building with separately metered gas and electric, and no landscaping. Strong income on in-place rents at 16.76 GRM, and makes the perfect 1031 exchange upleg!

Last Agent to Sell the Property

Anthony Walker

Buckingham Investments, Inc License #01908153 Listed on: 11/04/2019

Co-Listed By

Travis LeBouf

License #01938822

Last Buyer's Agent

Davin Emmons

HomeSmart, Evergreen Realty License #01419145

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1931

Lot Details

  • 2,168 Sq Ft Lot
  • No Common Walls
  • No Landscaping
  • Density is 2-5 Units/Acre

Home Design

  • 2,934 Sq Ft Home

Bedrooms and Bathrooms

  • 4 Bedrooms
  • 5 Bathrooms

Listing and Financial Details

  • Legal Lot and Block 13 / 22
  • Tax Tract Number 3750
  • Assessor Parcel Number 7247021009

Community Details

Overview

  • No Home Owners Association
  • 5 Units
  • Property is near a preserve or public land

Recreation

  • Water Sports

Building Details

  • Rent Control
  • 5 Separate Electric Meters
  • 5 Separate Gas Meters
  • 5 Separate Water Meters
  • Electric Expense $1,100
  • Insurance Expense $4,572
  • Maintenance Expense $5,485
  • Pest Control $500
  • Professional Management Expense $5,485
  • New Taxes Expense $23,688
  • Operating Expense $41,095
  • Gross Income $109,707
  • Net Operating Income $68,612

Property Details

Home Type

Multi-Family

Year Built

Built in 1931

Lot Details

0

Listing Details

  • CapRate: 3.60
  • Professional Management Expense: 5485.00
  • Property Attached: No
  • Subdivision Name Other: Belmont Shore (BSD)
  • Zoning: LBR4R
  • Property Type: Residential Income
  • Parcel Number: 7247021009
  • Year Built: 1931
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Common Walls: No Common Walls
  • Price Per Square Foot: 645.88

Exterior Features

  • Pool Private: No

Utilities

  • Laundry: No
  • Pest Control Expense: 500.00
  • Sewer: Public Sewer
  • Water Source: Other

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Community Features: Watersports, Preserve/Public Land

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: 2-5 Units/Acre, No Landscaping
  • Lot Size Sq Ft: 2168.00
  • Lot Size Acres: 0.0498

Multi Family

  • Electric Expense: 1100.00
  • Gross Income: 109707.00
  • Gross Multiplier: 16.76
  • Gross Operating Income: 109707.00
  • Gross Scheduled Income: 113100.00
  • Insurance Expense: 4572.00
  • Lot Size Area: 2168.0000 Square Feet
  • Maintenance Expense: 5485.00
  • Net Operating Income: 68612.00
  • Number Of Separate Electric Meters: 5
  • Number Of Separate Gas Meters: 5
  • Number Of Separate Water Meters: 5
  • Number Of Units Total: 5
  • Operating Expense: 41095.00
  • Rent Control: Yes
  • Total Actual Rent: 9425.00
  • Total Expenses: 41095.00
  • Vacancy Allowance Rate: 3.00

Tax Info

  • New Taxes Expense: 23688.00
  • Tax Block: 22
  • Tax Census Tract: 5773.00
  • Tax Lot: 13
  • Tax Tract Number: 3750

Range of Values:

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Value Increase
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Percent Increase
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Adjusted for Inflation
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Average Value
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List Price
Sold Price
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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
02/21/2020 02/21/20 Sold $1,895,000 0.0% $646 / Sq Ft
11/12/2019 11/12/19 Pending -- -- --
11/04/2019 11/04/19 For Sale $1,895,000 -- $646 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Anthony Walker

    Seller's Agent in 2020

    Anthony Walker

    Buckingham Investments, Inc

    (310) 982-7055

    90 Total Sales

    Anthony Walker
    Section Image

  • T

    Seller Co-Listing Agent in 2020

    Travis LeBouf

  • Davin Emmons

    Buyer's Agent in 2020

    Davin Emmons

    HomeSmart, Evergreen Realty

    (949) 874-8961

    152 Total Sales

    Davin Emmons
    Section Image
See All Agents

Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: SB19257633

California Regional Multiple Listing Service (CRMLS)
California Los Angeles County Long Beach 90803 Belmont Shore

32 Argonne Ave, Long Beach, CA

Not Listed for Sale

MultiFamily

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California Regional Multiple Listing Service (CRMLS) 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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