NOT LISTED FOR SALE
5 Beds
4 Baths
7,788 Sq Ft
7,510 Sq Ft Lot

Last Sold June 25, 2019

Last sale price $1,900,000 $244 Per Sq Ft

295 Days on Market

Highlights

  • No Units Above
  • Auto Driveway Gate
  • Open Floorplan
  • Long Beach Polytechnic High School Rated A
  • 0.17 Acre Lot
  • No HOA

About This Home

As of June 2019

-Built in 1991
-All 2BR/2.5BA & 3BR/2.5BA Units
-Spacious Units Averaging 1,500Sq.Ft.
-30% Rental Upside
-Over 2:1 Parking Ratio
-Washer/ Dryer Hookups & Balconies

Last Agent to Sell the Property

Peter Gillin

Morgan Skenderian License #01433769 Listed on: 08/06/2018

Last Buyer's Agent

Kimiyasu Murayoshi

Andrew C. Lee License #01329437

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1991

Lot Details

  • 7,509 Sq Ft Lot
  • No Units Above
  • No Units Located Below
  • Two or More Common Walls
  • Density is 26-30 Units/Acre

Parking

  • 12 Car Garage
  • Subterranean Parking
  • Parking Storage or Cabinetry
  • Parking Available
  • Auto Driveway Gate

Home Design

  • Property Attached

Interior Spaces

  • 7,788 Sq Ft Home
  • 2-Story Property
  • Open Floorplan

Kitchen

  • Gas Range
  • Dishwasher

Bedrooms and Bathrooms

  • 5 Bedrooms
  • Walk-In Closet
  • 4 Bathrooms

Laundry

  • Laundry Room
  • Gas And Electric Dryer Hookup

Outdoor Features

  • Living Room Balcony
  • Exterior Lighting

Location

  • Urban Location

Utilities

  • Central Heating and Cooling System
  • Cable TV Available

Listing and Financial Details

  • Tenant pays for electricity, gas, trash collection
  • Tax Lot 011
  • Tax Tract Number 16
  • Assessor Parcel Number 7281011016

Community Details

Overview

  • No Home Owners Association
  • 5 Units

Building Details

  • 5 Leased Units
  • 5 Separate Electric Meters
  • 5 Separate Gas Meters
  • Electric Expense $1,110
  • Gardener Expense $480
  • Insurance Expense $2,400
  • Maintenance Expense $6,210
  • Other Expense $1,817
  • Water Sewer Expense $1,110
  • New Taxes Expense $23,455
  • Operating Expense $37,382
  • Gross Income $124,200
  • Net Operating Income $83,092

Property Details

Home Type

Multi-Family

Year Built

Built in 1991

Lot Details

7,509 Sq Ft Lot

Parking

12

Listing Details

  • CapRate: 4.30
  • Property Attached: Yes
  • Subdivision Name Other: Downtown (DT)
  • Water Sewer Expenses: 1110.00
  • Zoning: LBPD30
  • Property Type: Residential Income
  • Gardener Expense: 480.00
  • Parcel Number: 7281011016
  • Year Built: 1991
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Interior Amenities: Balcony, Living Room Balcony, Open Floorplan, Unfurnished
  • Stories: 2
  • Common Walls: 2+ Common Walls, No One Above, No One Below
  • Appliances: Yes
  • Levels: Two
  • Price Per Square Foot: 243.97
  • Room Type: Master Bathroom, Walk-In Closet

Exterior Features

  • Pool Private: No

Garage/Parking

  • Garage Spaces: 12.00
  • Parking: Yes
  • Parking Features: Auto Driveway Gate, Built-In Storage, Gated, Subterranean
  • Total Parking Spaces: 12.00

Utilities

  • Utilities: Cable Available
  • Heating: Yes
  • Laundry: Yes
  • Appliances: Dishwasher, Gas Range
  • Heating Type: Central
  • Laundry Features: Gas & Electric Dryer Hookup
  • Sewer: Public Sewer
  • Water Source: Public
  • Cooling: Central Air
  • Cooling: Yes

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Community Features: Curbs, Sidewalks, Street Lights, Urban

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: 26-30 Units/Acre
  • Lot Size Sq Ft: 7509.00
  • Lot Size Acres: 0.1724

Rental Info

  • Tenant Pays: Electricity, Gas, Trash Collection

Multi Family

  • Average2 Bed Area: 1400 Square Feet
  • Average3 Bed Area: 1600 Square Feet
  • Electric Expense: 1110.00
  • Gross Income: 124200.00
  • Gross Multiplier: 15.50
  • Gross Operating Income: 120474.00
  • Gross Scheduled Income: 124200.00
  • Gross Spendable Income: 44592.00
  • Insurance Expense: 2400.00
  • Lot Size Area: 7509.0000 Square Feet
  • Maintenance Expense: 6210.00
  • Maintenance Percent: 5.00
  • Net Operating Income: 83092.00
  • Number Of Separate Electric Meters: 5
  • Number Of Separate Gas Meters: 5
  • Number Of Units Leased: 5
  • Number Of Units Total: 5
  • Number With Carpet: 5
  • Number With Dishwasher: 5
  • Number With Disposal: 5
  • Number With Patio: 5
  • Number With Range: 5
  • Operating Expense: 37382.00
  • Operating Expense Percent: 30.10
  • Other Expense: 1817.00
  • Other Expense Description: Assessme
  • Rent Control: No
  • Total Actual Rent: 10350.00
  • Total Expenses: 37382.00
  • Vacancy Allowance Rate: 3.00

Tax Info

  • New Taxes Expense: 23455.00
  • Tax Census Tract: 5762.00
  • Tax Lot: 011
  • Tax Tract Number: 016
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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
06/25/2019 06/25/19 Sold $1,900,000 0.0% $244 / Sq Ft
01/11/2019 01/11/19 Off Market $1,900,000 -- --
08/06/2018 08/06/18 For Sale $2,075,000 -- $266 / 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 $32,136 $2,427,889 $1,574,848 $853,041
2024 $32,136 $2,380,284 $1,543,969 $836,315
2023 $31,572 $2,333,613 $1,513,696 $819,917
2022 $29,656 $2,287,857 $1,484,016 $803,841
2021 $28,847 $2,242,998 $1,454,918 $788,080
2020 $25,361 $1,938,000 $1,259,700 $678,300
2019 $10,433 $691,783 $106,013 $585,770
2018 $10,044 $678,220 $103,935 $574,285
2016 $9,207 $651,886 $99,900 $551,986
2015 $8,863 $642,095 $98,400 $543,695
2014 $8,806 $629,518 $96,473 $533,045
Source: Public Records

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PW18189851

California Regional Multiple Listing Service (CRMLS)
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