NOT LISTED FOR SALE
Studio
10 Baths
4,920 Sq Ft
8,255 Sq Ft Lot

Last Sold August 08, 2024

Last sale price $2,450,000 $498 Per Sq Ft

63 Days on Market

Highlights

  • No HOA
  • Wall Furnace
  • 1-Story Property
  • Woodrow Wilson High School Rated A

About This Home

As of August 2024

Location, Location, Location, 12 Units in one of Long Beach’s most sought-after neighborhoods. This lovely single-story multi-unit apartment consists of 12 single units, All units are well maintained and some of them have been updated with new flooring, newer kitchen cabinets, and updated bathrooms, Property is located only a short distance from the water and close to coffee shops, restaurants, entertainment, public transportation, Enjoy world-class coastal living at its finest in this beautiful area that will yield investors a nice appreciation play for the future, This property will attract high-quality tenants and generate strong returns for years to come do not this opportunity to own a piece of one of the best areas of Long Beach.

Last Agent to Sell the Property

Martin Gonzalez

Realty Executives All Cities Brokerage Phone: 562-843-1103 License #01204139 Listed on: 03/19/2024

Realty Executives All Cities

Last Buyer's Agent

Dean Lueck

Compass License #01752859

Compass

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1923

Lot Details

  • 8,255 Sq Ft Lot
  • No Common Walls
  • Density is up to 1 Unit/Acre

Home Design

  • Entry on the 1st floor
  • Composition Roof

Interior Spaces

  • 10 Bathrooms
  • 4,920 Sq Ft Home
  • 1-Story Property

Utilities

  • Wall Furnace

Listing and Financial Details

  • Tax Lot 2
  • Tax Tract Number 13566
  • Assessor Parcel Number 7264011005

Community Details

Overview

  • No Home Owners Association
  • 2 Buildings
  • 12 Units
  • Bluff Park Subdivision

Building Details

  • 12 Leased Units
  • 12 Separate Electric Meters
  • 12 Separate Gas Meters
  • 1 Separate Water Meter
  • Insurance Expense $5,000
  • Professional Management Expense $8,000
  • Trash Expense $4,000
  • Water Sewer Expense $12,000
  • Operating Expense $29,000
  • Gross Income $181,800
  • Net Operating Income $118,170

Property Details

Home Type

Multi-Family

Year Built

Built in 1923

Lot Details

0

Listing Details

  • Professional Management Expense: 8000.00
  • Property Attached: No
  • Subdivision Name Other: Bluff Park (BLF)
  • Water Sewer Expenses: 12000.00
  • Zoning: LBR2L
  • Property Sub Type: Commercial/Residential
  • Property Type: Residential Income
  • Parcel Number: 7264011005
  • Year Built: 1923
  • Special Features: None

Interior Features

  • Fireplace: No
  • Stories: 1
  • Common Walls: No Common Walls
  • Entry Level: 1
  • Levels: One
  • Price Per Square Foot: 497.97

Exterior Features

  • Pool Private: No
  • Roof: Composition

Utilities

  • Heating: Yes
  • Laundry: No
  • Heating Type: Wall Furnace
  • Sewer: Public Sewer
  • Trash Expense: 4000.00
  • Water Source: Public

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Community Features: Sidewalks

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: 0-1 Unit/Acre
  • Lot Size Sq Ft: 8255.00
  • Lot Size Acres: 0.1895
  • Latitude Manual: 33.76334900

Multi Family

  • Average Studio Area: 410 Square Feet
  • Gross Income: 181800.00
  • Gross Operating Income: 181800.00
  • Gross Scheduled Income: 181800.00
  • Insurance Expense: 5000.00
  • Lot Size Area: 8255.0000 Square Feet
  • Net Operating Income: 118170.00
  • Number Of Separate Electric Meters: 12
  • Number Of Separate Gas Meters: 12
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 12
  • Number Of Units Total: 12
  • Operating Expense: 63630.00
  • Rent Control: No
  • Total Actual Rent: 15150.00
  • Total Expenses: 29000.00

Tax Info

  • Tax Census Tract: 5772.00
  • Tax Lot: 2
  • Tax Tract Number: 13566
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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
08/08/2024 08/08/24 Sold $2,450,000 -7.5% $498 / Sq Ft
05/21/2024 05/21/24 Pending -- -- --
04/10/2024 04/10/24 For Sale $2,650,000 +8.2% $539 / Sq Ft
04/08/2024 04/08/24 Off Market $2,450,000 -- --
03/19/2024 03/19/24 For Sale $2,650,000 -- $539 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

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 $25,673 $2,450,000 $1,450,000 $1,000,000
2024 $25,673 $1,903,357 $1,298,290 $605,067
2023 $25,221 $1,866,037 $1,272,834 $593,203
2022 $23,686 $1,829,449 $1,247,877 $581,572
2021 $23,192 $1,793,578 $1,223,409 $570,169
2019 $22,860 $1,741,821 $1,187,123 $554,698
2018 $20,137 $1,532,764 $1,019,252 $513,512
2016 $18,551 $1,471,863 $979,674 $492,189
2015 $17,820 $1,449,755 $964,959 $484,796
2014 $17,739 $1,421,357 $946,057 $475,300
Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: RS24052598

California Regional Multiple Listing Service (CRMLS)