NOT LISTED FOR SALE
12 Beds
12 Baths
6,440 Sq Ft
6,534 Sq Ft

Last Sold June 27, 2016

Last sale price $2,100,000 $326 Per Sq Ft

56 Days on Market

About This Home

As of June 2016

We are pleased to present an eight-unit condominium building located in Long Beach, California. Built
in 1985, the subject property consists of (8) two bedroom, two bathroom units in 6,440 rentable square feet with a lot
size of 6,747 square feet. The building offers a pitched roof, copper plumbing and separate meters. There are also 14
gated parking spaces and a laundry room for tenants enjoyment. Owners benefit from the high demand for rentals in this
coastal city of Southern California, while tenants enjoy being in close proximity to Downtown Long beach, which is
known for its major tourist attractions, plentiful businesses, hotels, restaurants and entertainment.

Last Agent to Sell the Property

Kevin King

Marcus & Millichap License #01158184 Listed on: 04/18/2016

Co-Listed By

Ryan Rayburn

Marcus & Millichap License #01496522

Last Buyer's Agent

Bill Mungai

Nikki Bruce, Broker License #00899593

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1985

Lot Details

  • 6,750 Sq Ft Lot
  • Two or More Common Walls
  • Density is 6-10 Units/Acre

Parking

  • 14 Parking Spaces

Home Design

  • 6,440 Sq Ft Home
  • Property Attached

Bedrooms and Bathrooms

  • 12 Bedrooms
  • 12 Bathrooms

Utilities

  • Septic Type Unknown

Listing and Financial Details

  • Tax Lot 1
  • Tax Tract Number 65188
  • Assessor Parcel Number 7259006107

Community Details

Overview

  • 8 Units

Building Details

  • 8 Separate Electric Meters
  • 8 Separate Gas Meters
  • 8 Separate Water Meters
  • Electric Expense $1,410
  • Insurance Expense $2,254
  • Maintenance Expense $3,150
  • Other Expense $3,535
  • Professional Management Expense $4,060
  • Trash Expense $1,410
  • Water Sewer Expense $1,410
  • New Taxes Expense $24,750
  • Gross Income $11,279
  • Net Operating Income $87,898

Property Details

Home Type

Multi-Family

Year Built

Built in 1985

Lot Details

6,750 Sq Ft Lot

Listing Details

  • Professional Management Expense: 4060.00
  • Property Attached: Yes
  • Subdivision Name Other: Eastside (ES)
  • Water Sewer Expenses: 1410.00
  • Property Type: Residential Income
  • Parcel Number: 7259006107
  • Year Built: 1985
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Common Walls: 2+ Common Walls
  • Levels: Three Or More
  • Price Per Square Foot: 326.09

Exterior Features

  • Pool Private: No

Garage/Parking

  • Total Parking Spaces: 14.00

Utilities

  • Sewer: Unknown
  • Trash Expense: 1410.00
  • Water Source: Public

Condo/Co-op/Association

  • Community Features: Curbs

Lot Info

  • Land Lease: No
  • Lot Features: 6-10 Units/Acre
  • Lot Size Sq Ft: 6750.00
  • Price Per Lot Square Foot: 311.11

Multi Family

  • Electric Expense: 1410.00
  • Gross Income: 11279.00
  • Gross Scheduled Income: 135348.00
  • Insurance Expense: 2254.00
  • Maintenance Expense: 3150.00
  • Net Operating Income: 87898.00
  • Number Of Separate Electric Meters: 8
  • Number Of Separate Gas Meters: 8
  • Number Of Separate Water Meters: 8
  • Number Of Units Total: 8
  • Operating Expense: 43389.00
  • Other Expense: 3535.00
  • Other Expense Description: HOA/Misc
  • Rent Control: No
  • Total Actual Rent: 11209.00

Tax Info

  • New Taxes Expense: 24750.00
  • Tax Lot: 1
  • Tax Tract Number: 65188
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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
06/27/2016 06/27/16 Sold $2,100,000 -4.5% $326 / Sq Ft
06/13/2016 06/13/16 Pending -- -- --
04/18/2016 04/18/16 For Sale $2,200,000 -- $342 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PW16080627

California Regional Multiple Listing Service (CRMLS)
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