Seller's Agent in 2022
Matt Mahowald
Buckingham Investments, Inc
(310) 982-7055
2 in this area
29 Total Sales
362 E Louise St Long Beach, CA 90805
Dairy Neighborhood
18
Beds
10
Baths
9,648
Sq Ft
0.28
Acres
Highlights
- Gated Community
- Dual Staircase
- No HOA
- 0.28 Acre Lot
- Property is near park and public transit
- 3-minute walk to Grace Park
About This Home
As of October 2022Easy to own asset that is a great addition to any portfolio! This clean and well-maintained 12-unit property consists of eight 2bed/1bath units and four 1bed/1bath units with eight garages and private laundry/ storage rooms. The entire property is secured with coded entry and a brand new camera system. Plus, two of the units were recently refurbished and the entire roof is brand new. Each unit is in good condition, offers a functional layout, and provides plenty of space for the tenants to enjoy. Located in the path of progress - this dense rental market is perfect for investors who enjoy low vacancy rates, high market rental rates, and strong long-term appreciation. Close proximity to Bixby Knolls and all the new large scale redevelopment projects (The Beat, The Uptown, Uptown Commons, etc.) by nationally acclaimed developers coming online along the Atlantic corridor brings a ton of long-term value to the local market. Downtown Long Beach, the beach, parks, public transportation, easy freeway access, and other community amenities/ attractions are close by for all to enjoy. Long Beach is resurging due to hundreds of millions of dollars invested in private and public developments, a growing local economy with strong employment, and the increasing demand to "live, work, and play" in this remarkable community.
Last Agent to Sell the Property
Buckingham Investments, Inc License #02001732 Listed on: 06/17/2022
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1964 | Remodeled
Lot Details
- 0.28 Acre Lot
- Two or More Common Walls
- Security Fence
- Wrought Iron Fence
- Privacy Fence
- Landscaped
- Front Yard
Parking
- 8 Car Garage
Home Design
- Property Attached
- Turnkey
- Cosmetic Repairs Needed
- Slab Foundation
- Shingle Roof
- Composition Roof
Interior Spaces
- 9,648 Sq Ft Home
- 2-Story Property
- Dual Staircase
- Family Room
- Living Room
- Utility Room
- Laundry Room
Kitchen
- Gas Oven
- Gas Cooktop
- Free-Standing Range
Flooring
- Carpet
- Laminate
- Vinyl
Bedrooms and Bathrooms
- 18 Bedrooms
- 10 Bathrooms
Home Security
- Home Security System
- Carbon Monoxide Detectors
- Fire and Smoke Detector
Accessible Home Design
- More Than Two Accessible Exits
- Accessible Parking
Location
- Property is near park and public transit
Utilities
- Wall Furnace
- Natural Gas Connected
Listing and Financial Details
- Tenant pays for cable TV, electricity, gas, telephone
- Tax Lot 1154
- Tax Tract Number 5134
- Assessor Parcel Number 7126033023
Community Details
Overview
- No Home Owners Association
- 12 Units
- North Long Beach Subdivision
Amenities
- Laundry Facilities
Recreation
- Park
Building Details
- 12 Leased Units
- Rent Control
- 12 Separate Electric Meters
- 12 Separate Gas Meters
- 1 Separate Water Meter
- Insurance Expense $4,800
- Trash Expense $3,000
- Water Sewer Expense $5,400
- Operating Expense $13,200
- Gross Income $230,623
- Net Operating Income $147,671
Security
- Card or Code Access
- Gated Community
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area
Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft | Prior Sale |
|---|---|---|---|---|---|
| 10/05/2022 10/05/22 | Sold | $3,275,000 | -3.0% | $339 / Sq Ft | |
| 07/25/2022 07/25/22 | Pending | -- | -- | -- | |
| 07/15/2022 07/15/22 | Price Changed | $3,375,000 | -3.6% | $350 / Sq Ft | |
| 06/17/2022 06/17/22 | For Sale | $3,500,000 | +13.1% | $363 / Sq Ft | |
| 08/27/2021 08/27/21 | Sold | $3,095,000 | 0.0% | $321 / Sq Ft | View Prior Sale |
| 06/04/2021 06/04/21 | Pending | -- | -- | -- | |
| 05/03/2021 05/03/21 | Price Changed | $3,095,000 | 0.0% | $321 / Sq Ft | |
| 05/03/2021 05/03/21 | For Sale | $3,095,000 | 0.0% | $321 / Sq Ft | |
| 04/28/2021 04/28/21 | Off Market | $3,095,000 | -- | -- | |
| 03/19/2021 03/19/21 | For Sale | $3,295,000 | -- | $342 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
Tax History Compared to Growth
Agents Affiliated with this Home
-
Matt Mahowald
-
Anthony Walker
Buyer's Agent in 2022
Anthony Walker
Buckingham Investments, Inc
(310) 982-7055
2 in this area
92 Total Sales
-
Rick Elorriaga
Seller's Agent in 2021
Rick Elorriaga
Berkshire Hathaway HomeServices California Properties
(310) 373-0021
1 in this area
3 Total Sales
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: SB22131119
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