NOT LISTED FOR SALE
10 Beds
10 Baths
6,147 Sq Ft
9,772 Sq Ft Lot

Last Sold March 03, 2015

Last sale price $1,280,000 $208 Per Sq Ft

6 Days on Market

Highlights

  • 0.22 Acre Lot
  • No HOA
  • 1-minute walk to Miracle On Fourth Street Park
  • Long Beach Polytechnic High School Rated A
  • West Facing Home

About This Home

As of March 2015

Nice 11 Unit Complex just a couple blocks from the Beach in a desirable and easy to rent Alamitos Beach neighborhood. Property consists of four duplex buildings and a vintage house divided into three units, all 1br/ba. Fully rented with upside rent potential. Electrical fully re-wired with new services installed. 7 of the units have been renovated over the past few years as tenant turnover with new bath & kitchen cabinets and fixtures. Inspection subject to accepted offer, Drive-By ONLY, please do not disturb tenants. Great opportunity to get a solid rental in a great location.

Last Agent to Sell the Property

Kenneth Davis

Coldwell Banker Realty License #01380998 Listed on: 12/15/2014

Last Buyer's Agent

Anthony Walker

Buckingham Investments, Inc License #01908153

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1923

Lot Details

  • 9,772 Sq Ft Lot
  • Property fronts an alley
  • 1 Common Wall
  • West Facing Home

Parking

  • 1 Car Garage
  • 1 Carport Space

Home Design

  • 6,147 Sq Ft Home
  • Property Attached

Bedrooms and Bathrooms

  • 10 Bedrooms
  • 10 Bathrooms

Listing and Financial Details

  • Tenant pays for electricity, gas
  • Tax Lot 7-9
  • Tax Tract Number 2
  • Assessor Parcel Number 7275016011

Community Details

Overview

  • No Home Owners Association
  • 5 Buildings
  • 11 Units

Building Details

  • 11 Leased Units
  • 12 Separate Electric Meters
  • 9 Separate Gas Meters
  • 1 Separate Water Meter
  • Electric Expense $455
  • Gardener Expense $1,200
  • Insurance Expense $3,475
  • Maintenance Expense $4,363
  • Water Sewer Expense $2,324
  • New Taxes Expense $16,236
  • Net Operating Income $87,255

Property Details

Home Type

Multi-Family

Year Built

Built in 1923

Lot Details

0

Parking

1

Listing Details

  • Assessments: Yes
  • Property Attached: Yes
  • Road Frontage Type: Alley
  • Subdivision Name Other: Alamitos Beach (AB)
  • Water Sewer Expenses: 2324.00
  • Property Type: Residential Income
  • Gardener Expense: 1200.00
  • Parcel Number: 7275016011
  • Year Built: 1923
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Common Walls: 1 Common Wall
  • Levels: One
  • Price Per Square Foot: 208.23

Exterior Features

  • Direction Faces: West
  • Pool Private: No

Garage/Parking

  • Carport Spaces: 1.00
  • Garage Spaces: 1.00
  • Total Parking Spaces: 2.00

Utilities

  • Utilities: Sewer Connected
  • Water Source: Public

Condo/Co-op/Association

  • Association: No
  • Community Features: Curbs, Sidewalks

Lot Info

  • Lot Size Sq Ft: 9772.00
  • Lot Size Acres: 0.2240

Rental Info

  • Tenant Pays: Electricity, Gas

Multi Family

  • Average1 Bed Area: 484
  • Electric Expense: 455.00
  • Gross Multiplier: 10.40
  • Gross Scheduled Income: 119580.00
  • Insurance Expense: 3475.00
  • Lot Size Area: 9772.0000 Square Feet
  • Maintenance Expense: 4363.00
  • Net Operating Income: 87255.00
  • Number Of Separate Electric Meters: 12
  • Number Of Separate Gas Meters: 9
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 11
  • Number Of Units Total: 11
  • Operating Expense: 28738.00
  • Rent Control: No
  • Total Actual Rent: 9965.00
  • Vacancy Allowance Rate: 3.00

Tax Info

  • New Taxes Expense: 16236.00
  • Tax Lot: 7-9
  • Tax Tract Number: 2
  • Tax Year: 2014

Range of Values:

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Value Increase
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Adjusted for Inflation
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Sold Price
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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
03/03/2015 03/03/15 Sold $1,280,000 +2.4% $208 / Sq Ft
12/21/2014 12/21/14 Pending -- -- --
12/15/2014 12/15/14 For Sale $1,250,000 -- $203 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

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 $47,894 $3,767,287 $2,759,140 $1,008,147
2024 $47,894 $3,693,420 $2,705,040 $988,380
2023 $47,084 $3,621,000 $2,652,000 $969,000
2022 $30,330 $2,385,648 $1,393,862 $991,786
2021 $29,715 $2,338,872 $1,366,532 $972,340
2019 $29,291 $2,270,700 $1,326,000 $944,700
2018 $28,477 $2,226,200 $1,300,000 $926,200
2016 $16,512 $1,299,520 $893,420 $406,100
2015 $14,885 $1,192,779 $795,945 $396,834
2014 $14,826 $1,169,415 $780,354 $389,061
Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PW14258379

California Regional Multiple Listing Service (CRMLS)