NOT LISTED FOR SALE

366 Walnut Ave Long Beach, CA 90802

North Alamitos Beach Neighborhood
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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Percent 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

Agents Affiliated with this Home

  • K

    Seller's Agent in 2015

    Kenneth Davis

    Coldwell Banker Realty

  • Anthony Walker

    Buyer's Agent in 2015

    Anthony Walker

    Buckingham Investments, Inc

    (310) 982-7055

    9 in this area

    91 Total Sales

    Anthony Walker
    Section Image
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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PW14258379

California Regional Multiple Listing Service (CRMLS)
California Los Angeles County Long Beach 90802 North Alamitos Beach

366 Walnut Ave, Long Beach, CA

Not Listed for Sale

MultiFamily

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