A
Seller's Agent in 2018
Andrew McAllister
eXp Realty of Greater L.A
(562) 423-8134
17 Total Sales
338 E 7th St Long Beach, CA 90813
East Village Neighborhood
1
Bed
1
Bath
6,713
Sq Ft
5,296
Sq Ft Lot
Highlights
- 5,296 Sq Ft lot
- 3-minute walk to 5Th Street Station
- Laundry Room
- Long Beach Polytechnic High School Rated A
- Corner Lot
About This Home
As of June 2018Significant value add opportunity, priced at a 5.11% cap rate comprised of 10 spacious 1 Bed / 1 Bath units averaging 670 SF each. (4) units have undergone "gut" remodels to the studs, including porcelain tile floors, stainless steel appliances, quartz counters, custom cabinets, modern light fixtures, & marble shower tile. A 5th unit will be modernized and put in a condition suitable for a new investor to add finishes of their liking. Exterior improvements include a new roof in 2018, drought tolerant landscaping, custom metal work around the property for improved security & modern exterior paint. Great opportunity for an investor looking for a stable building with a realistic value add component and a 6.03% cap rate at market rents.
Last Agent to Sell the Property
eXp Realty of Greater L.A License #01946829 Listed on: 04/16/2018
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1912
Lot Details
- 5,296 Sq Ft Lot
- No Common Walls
- Corner Lot
- Level Lot
Interior Spaces
- 6,713 Sq Ft Home
- 2-Story Property
- Laundry Room
Bedrooms and Bathrooms
- 1 Bedroom
- 1 Bathroom
Outdoor Features
- Exterior Lighting
- Rain Gutters
Location
- Urban Location
Listing and Financial Details
- Legal Lot and Block 1,3 / 43
- Tax Tract Number 5762
- Assessor Parcel Number 7273027007
Community Details
Building Details
- 11 Separate Electric Meters
- 6 Separate Gas Meters
- 1 Separate Water Meter
- Electric Expense $508
- Gardener Expense $600
- Insurance Expense $2,500
- Maintenance Expense $7,500
- Other Expense $2,000
- Water Sewer Expense $6,600
- New Taxes Expense $28,115
- Operating Expense $52,022
- Gross Income $169,362
- Net Operating Income $117,340
Additional Features
- 10 Units
- Laundry Facilities
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Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 06/29/2018 06/29/18 | Sold | $2,272,500 | -1.0% | $339 / Sq Ft |
| 05/31/2018 05/31/18 | Pending | -- | -- | -- |
| 04/16/2018 04/16/18 | For Sale | $2,295,000 | -- | $342 / 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 | $33,062 | $2,585,712 | $1,809,146 | $776,566 |
| 2024 | $33,062 | $2,535,013 | $1,773,673 | $761,340 |
| 2023 | $32,503 | $2,485,308 | $1,738,896 | $746,412 |
| 2022 | $30,502 | $2,436,577 | $1,704,800 | $731,777 |
| 2021 | $29,887 | $2,388,802 | $1,671,373 | $717,429 |
| 2019 | $29,458 | $2,318,500 | $1,621,800 | $696,700 |
| 2018 | $15,934 | $1,212,616 | $847,926 | $364,690 |
| 2016 | $3,801 | $227,322 | $119,277 | $108,045 |
| 2015 | $3,673 | $223,909 | $117,486 | $106,423 |
| 2014 | $3,691 | $219,524 | $115,185 | $104,339 |
Source: Public Records
Agents Affiliated with this Home
-
Andrew McAllister
-
Lin Xia
L
Buyer's Agent in 2018
Lin Xia
Wetrust Realty
(626) 888-9808
56 Total Sales
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: RS18087051
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Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
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