NOT LISTED FOR SALE
7 Beds
7 Baths
7,079 Sq Ft
0.36 Acre Lot

Sale Details

Date Sold: July 30, 2014

Last sale price $1,260,000 $178 Per Sq Ft

62 Days on Market

Highlights

  • 0.36 Acre Lot
  • Laundry Facilities
  • Carpet
  • No HOA
  • South Facing Home
  • 3-minute walk to Ramona Park

About This Home

As of July 2014

This 1958 property offers a livable area of approximately 7,079 SF and is situated on huge 15,567 Sf flat lot with room for possible development (Zoned LBR4N). The property consist of 11 units and a unit mix consisting of 2 - two bedrooms/one bathroom units and 8 - one bedroom/one bathroom units and 1-studio unit. There are approximately 14 parking spaces three of which are garages. There is a laundry facility on-site. All units separately metered for electricity and gas. Cooper plumbing upgraded recently.

This value-added investment has a huge potential for an investor to increase rents and improve the cash flow. The property has been family owned since it was built and is on the market for the 1st time.

Last Agent to Sell the Property

George Bustamante

Coldwell Banker Commercial License #01484265 Listed on: 03/11/2014

Coldwell Banker Commercial

Co-Listed By

Steve Warshauer

Coldwell Banker Commercial License #00499477

Coldwell Banker Commercial

Last Buyer's Agent

Steve Warshauer

Coldwell Banker Commercial License #00499477

Coldwell Banker Commercial
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Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1958

Lot Details

  • 15,564 Sq Ft Lot
  • 1 Common Wall
  • South Facing Home
  • Density is 26-30 Units/Acre

Parking

  • 3 Car Garage
  • Parking Available
  • Unassigned Parking

Home Design

  • Property Attached
  • Fixer Upper
  • Shingle Roof
  • Asphalt Roof

Interior Spaces

  • 7,079 Sq Ft Home
  • 2-Story Property
  • Carpet

Bedrooms and Bathrooms

  • 7 Bedrooms
  • 7 Bathrooms

Outdoor Features

  • Rain Gutters

Listing and Financial Details

  • Tenant pays for electricity, gas
  • Tax Lot 9
  • Assessor Parcel Number 7120016044

Community Details

Overview

  • No Home Owners Association
  • 3 Buildings
  • 11 Units

Amenities

  • Laundry Facilities

Building Details

  • 12 Separate Electric Meters
  • 12 Separate Gas Meters
  • 1 Separate Water Meter
  • Gross Income $8,969
  • Net Operating Income $64,895

Property Details

Home Type

Multi-Family

Year Built

Built in 1958

Lot Details

0.36 Acres

Parking

3

Listing Details

  • Assessments: Yes
  • CapRate: 4.65
  • Property Attached: Yes
  • Subdivision Name Other: North Long Beach (NLB)
  • Zoning: LBR4N
  • Property Condition: Fixer
  • Property Type: Residential Income
  • Parcel Number: 7120016044
  • Year Built: 1958
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Stories: 2
  • Common Walls: 1 Common Wall
  • Flooring: Carpet
  • Levels: Two
  • Price Per Square Foot: 177.99

Exterior Features

  • Direction Faces: South
  • Pool Private: No
  • Roof: Asphalt, Shingle

Garage/Parking

  • Garage Spaces: 3.00
  • Parking: Yes
  • Parking Features: Unassigned
  • Total Parking Spaces: 14.00

Utilities

  • Utilities: Sewer Available
  • Laundry: Yes
  • Laundry Features: Community
  • Water Source: Public

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Community Features: Curbs, Gutters

Lot Info

  • Lot Features: 26-30 Units/Acre
  • Lot Size Sq Ft: 15564.00
  • Lot Size Acres: 0.3570

Rental Info

  • Tenant Pays: Electricity, Gas

Multi Family

  • Average1 Bed Area: 635
  • Average2 Bed Area: 735
  • Average Studio Area: 550
  • Gross Income: 8969.00
  • Gross Multiplier: 12.74
  • Gross Scheduled Income: 107625.00
  • Laundry Equipment Own Lease: Own
  • Lot Size Area: 15564.0000 Square Feet
  • Net Operating Income: 64895.00
  • Number Of Rented Garages: 3
  • Number Of Separate Electric Meters: 12
  • Number Of Separate Gas Meters: 12
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 11
  • Operating Expense: 41374.00
  • Operating Expense Percent: 38.00
  • Other Income Description: Laundry
  • Rent Control: No
  • Vacancy Allowance Rate: 3.00

Tax Info

  • Taxes Percent: 1.22
  • Tax Lot: 9
  • Tax Year: 2013

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

Closed on
Jan 29, 2025
Sold by
Bought by

Purchase Details

Closed on
May 21, 2014
Sold by
Bought by

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$760,000
Interest Rate
3.5%
Mortgage Type
Commercial

Purchase Details

Closed on
Dec 27, 2012
Sold by
Bought by

Purchase Details

Closed on
Jul 16, 2012
Sold by
Bought by

Purchase Details

Closed on
Oct 8, 2001
Sold by
Bought by

Purchase Details

Closed on
Nov 1, 1995
Sold by
Bought by
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
-- None Listed On Document
$1,260,000 Ticor Title Company
-- None Available
-- None Available
-- --
-- --
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 $760,000
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
07/30/2014 07/30/14 Sold $1,260,000 -9.7% $178 / Sq Ft
05/12/2014 05/12/14 Pending -- -- --
03/11/2014 03/11/14 For Sale $1,395,000 -- $197 / 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
2025 $21,902 $1,514,323 $552,847 $961,476
2024 $20,717 $1,484,631 $542,007 $942,624
2023 $20,356 $1,455,522 $531,380 $924,142
2022 $19,145 $1,426,983 $520,961 $906,022
2021 $18,727 $1,399,004 $510,747 $888,257
2019 $18,462 $1,361,211 $495,599 $865,612
2018 $17,827 $1,334,594 $485,882 $848,712
2016 $16,404 $1,279,215 $467,015 $812,200
2015 $15,767 $1,260,000 $460,000 $800,000
2014 $3,563 $167,555 $40,175 $127,380
Source: Public Records

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PW14051952

California Regional Multiple Listing Service (CRMLS)
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