NOT LISTED FOR SALE

Estimated Value: $1,219,000 - $2,063,000

8 Beds
4 Baths
4,020 Sq Ft
$418/Sq Ft Est. Value

Last Sold November 17, 2016

Last sale price $1,090,000 $271 Per Sq Ft

Est. 54% increase in value since last sale

Current estimated payment $10,203/month

35 Days on Market

Highlights

  • Property is near a park
  • Wood Flooring
  • Walk-In Closet
  • Woodrow Wilson High School Rated A
  • No HOA
  • Living Room

About This Home

As of November 2016

PRICE REDUCED. Seller is motivated. Amazing investment opportunity!! This is a beautiful light and bright four unit building situated on a tree lined street near the traffic circle in East-side Long Beach. Each identical unit is a townhouse style, two story, 2 bedroom, 1.5 bath with private patio. The main level of each unit consists of a large living area with laminate wood flooring, ceramic tiled half bath, and large eat in kitchen with a door leading into the fenced-in private patio. The second level of each unit boasts a master bedroom with a walk-in closet as well as a large secondary closet, a second bedroom with a large closet, a landing area with ample storage space, and a ceramic tiled full bath with a tub/shower combo. Units 1 and 2 have been recently renovated with full copper plumbing, dishwasher, and custom maple cabinetry in the kitchen. Attached to the back end of the property is a shared coin laundry room that contains a washing machine, dryer, sink and storage closet as well as separate water heater. The long driveway of the property leads to a large and open parking area that currently has assigned parking spaces for each tenant.

Last Agent to Sell the Property

Dacia Robertson

Kastell Real Estate Group License #01838997 Listed on: 08/29/2016

Last Buyer's Agent

Dacia Robertson

Kastell Real Estate Group License #01838997 Listed on: 08/29/2016

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $15,615

Year Built

  • Built in 1964

Lot Details

  • 6,729 Sq Ft Lot
  • Two or More Common Walls
  • Rectangular Lot
  • Level Lot
  • Density is 2-5 Units/Acre

Home Design

  • Property Attached
  • Partial Copper Plumbing

Interior Spaces

  • 4,020 Sq Ft Home
  • 2-Story Property
  • Ceiling Fan
  • Entryway
  • Living Room
  • Storage

Kitchen

  • Electric Oven
  • Electric Cooktop
  • Free-Standing Range
  • Disposal

Flooring

  • Wood
  • Carpet
  • Tile

Bedrooms and Bathrooms

  • 8 Bedrooms
  • All Upper Level Bedrooms
  • Walk-In Closet
  • 4 Bathrooms

Laundry

  • Laundry Room
  • Dryer
  • Washer

Parking

  • 7 Parking Spaces
  • Parking Available
  • Assigned Parking

Outdoor Features

  • Exterior Lighting
  • Rain Gutters

Utilities

  • Radiant Heating System
  • Electric Water Heater

Additional Features

  • Accessible Parking
  • Property is near a park

Listing and Financial Details

  • Tenant pays for cable TV, electricity
  • Tax Lot 43
  • Assessor Parcel Number 7259004044

Community Details

Overview

  • No Home Owners Association
  • 10 Units

Amenities

  • Laundry Facilities

Building Details

  • 4 Leased Units
  • 5 Separate Electric Meters
  • 1 Separate Water Meter
  • Electric Expense $600
  • Water Sewer Expense $2,376
  • Gross Income $5,665
  • Net Operating Income $61,548

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$15,615

Year Built

Built in 1964

Lot Details

0

Listing Details

  • Property Attached: Yes
  • Road Frontage Type: City Street
  • Subdivision Name Other: Eastside (ES)
  • Water Sewer Expenses: 2376.00
  • Property Type: Residential Income
  • Parcel Number: 7259004044
  • Year Built: 1964
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Interior Amenities: Ceiling Fan(s), Copper Plumbing Partial, Storage
  • Stories: 2
  • Common Walls: 2+ Common Walls
  • Flooring: Carpet, Tile, Wood
  • Accessibility Features: Parking
  • Appliances: Yes
  • Levels: Two
  • Price Per Square Foot: 271.14
  • Room Type: All Bedrooms Up, Entry, Living Room, Walk-In Closet

Exterior Features

  • Pool Private: No

Garage/Parking

  • Parking: Yes
  • Parking Features: Assigned
  • Total Parking Spaces: 7.00

Utilities

  • Utilities: Sewer Available, Water Connected
  • Heating: Yes
  • Laundry: Yes
  • Appliances: Electric Oven, Electric Range, Electric Cooktop, Electric Water Heater, Free-Standing Range, Disposal
  • Heating Type: Radiant
  • Laundry Features: Community, Dryer Included, Electric Dryer Hookup, Washer Hookup, Washer Included
  • Water Source: Public

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Community Features: Curbs, Gutters, Sidewalks, Street Lights, Storm Drains

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: 2-5 Units/Acre, Rectangular Lot, Lot 6500-9999, Level with Street, Park Nearby
  • Lot Size Sq Ft: 6729.00
  • Price Per Lot Square Foot: 178.33

Rental Info

  • Tenant Pays: Cable TV, Electricity

Multi Family

  • Electric Expense: 600.00
  • Gross Income: 5665.00
  • Gross Scheduled Income: 67980.00
  • Net Operating Income: 61548.00
  • Number Of Separate Electric Meters: 5
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 4
  • Number Of Units Total: 10
  • Operating Expense: 6432.00
  • Rent Control: No

Tax Info

  • Tax Lot: 43
  • Tax Tract Number: 0000

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Sep 2, 2021
Sold by
Chapman Willard D and Chapman Dorothy A
Bought by
Corte Lucia Inc
Current Estimated Value
$1,678,963

Purchase Details

Closed on
May 8, 2021
Sold by
Corte Lucia Inc
Bought by
Chapman Willard D and Chapman Dorothy A

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$723,300
Interest Rate
3.1%
Mortgage Type
New Conventional

Purchase Details

Closed on
Jan 27, 2017
Sold by
Chapman Willard
Bought by
Corte Lucia Inc

Purchase Details

Listed on
Aug 29, 2016
Closed on
Nov 2, 2016
Sold by
Cassara Cherie Mcquay
Bought by
Chapman Willard D and Chapman Dorothy A
Seller's Agent
Dacia Robertson
Kastell Real Estate Group
Buyer's Agent
Dacia Robertson
Kastell Real Estate Group
List Price
$1,199,999
Sold Price
$1,090,000
Premium/Discount to List
-$109,999
-9.17%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
4.97%
Original Mortgage
$775,984
Interest Rate
3.47%
Mortgage Type
New Conventional

Purchase Details

Closed on
Feb 16, 2016
Sold by
Mcquay John M
Bought by
Cassara Cherie Mcquay and The Gladys Mcquay Revocable Living Trust

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$377,500
Interest Rate
6.5%
Mortgage Type
Adjustable Rate Mortgage/ARM

Purchase Details

Closed on
Feb 8, 2016
Sold by
Cassara Cherie Mcquay
Bought by
Mquay John M

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$377,500
Interest Rate
6.5%
Mortgage Type
Adjustable Rate Mortgage/ARM

Purchase Details

Closed on
Aug 3, 2011
Sold by
Cassara Cherie Mcquay
Bought by
Cassara Cherie Mcquay and The Gladys Mcquay Revocable Living Trust

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$330,000
Interest Rate
4.53%
Mortgage Type
New Conventional

Purchase Details

Closed on
Sep 14, 1999
Sold by
Mcquay Gladys M
Bought by
Mcquay Gladys M and The Gladys M Mcquay Living Trust
Source: Public Records

Range of Values:

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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

Purchase History

Date Buyer Sale Price Title Company
Corte Lucia Inc -- Old Republic Title
Chapman Willard D -- Old Republic Title
Corte Lucia Inc -- None Available
Chapman Willard D $1,035,000 First American Title Company
Cassara Cherie Mcquay -- Usa National Title
Mquay John M -- Usa National Title
Cassara Cherie Mcquay -- Lsi
Mcquay Gladys M -- --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Chapman Willard D $723,300
Previous Owner Chapman Willard D $775,984
Previous Owner Mquay John M $377,500
Previous Owner Cassara Cherie Mcquay $330,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
11/17/2016 11/17/16 Sold $1,090,000 -0.5% $271 / Sq Ft
09/21/2016 09/21/16 Price Changed $1,095,000 -8.7% $272 / Sq Ft
08/29/2016 08/29/16 For Sale $1,199,999 -- $299 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Tax History

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 $15,615 $1,201,200 $696,348 $504,852
2024 $15,615 $1,177,648 $682,695 $494,953
2023 $15,354 $1,154,558 $669,309 $485,249
2022 $14,421 $1,131,921 $656,186 $475,735
2021 $14,127 $1,109,727 $643,320 $466,407
2020 $14,090 $1,099,749 $636,724 $463,025
2019 $13,927 $1,078,214 $624,240 $453,974
2018 $13,485 $1,057,100 $612,000 $445,100
2016 $2,026 $117,793 $26,689 $91,104
2015 $1,962 $116,025 $26,289 $89,736
2014 $1,975 $113,754 $25,775 $87,979
Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: NP16190421

California Regional Multiple Listing Service (CRMLS)

APN: 7259-004-044