NOT LISTED FOR SALE
5 Beds
4 Baths
7,788 Sq Ft
7,509 Sq Ft Lot

Sale Details

Date 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 in unit
  • 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

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
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

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 $33,623 $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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