NOT LISTED FOR SALE

379 Termino Ave Long Beach, CA 90814

Belmont Heights Neighborhood
3 Beds
2 Baths
8,456 Sq Ft
0.26 Acres

Last Sold September 19, 2017

Last sale price $4,199,000 $497 Per Sq Ft

171 Days on Market

Highlights

  • Recessed Lighting
  • Laundry Room
  • Wall Furnace
  • Fremont Elementary School Rated A

About This Home

As of September 2017

The Termino Property is a turn-key investment in the Belmont Heights neighborhood of Long Beach. The exterior of the building has undergone an extensive update to incorporate a new, modern look. Inside, every unit has been renovated and upgraded beautifully. These bright and airy modern apartments include laminate wood flooring, quartz countertops, stainless steel appliances, designer fixtures and recessed lighting. The downstairs units also have gated patios with grassy areas and pavers. The property is stabilized and allows a new owner to place their money in an established positive-cashflowing investment.

Close to the action and away from the noise, Belmont Heights earns a top spot among the best Long Beach neighborhoods. It' s located on the coast and enjoys a quieter reputation than the area's directly surrounding entertainment districts. This Long Beach neighborhood houses many strong schools and a central location that keeps you close to everything. This property is less than a mile from the coast, residents can easily walk to the beach.

Last Agent to Sell the Property

Gary Tolfa

Triqor Group License #00955403 Listed on: 01/27/2017

Last Buyer's Agent

Gary Tolfa

Triqor Group License #00955403 Listed on: 01/27/2017

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1952

Lot Details

  • 0.26 Acre Lot
  • 1 Common Wall
  • Density is 11-15 Units/Acre

Home Design

  • Property Attached
  • Shingle Roof
  • Stucco

Interior Spaces

  • 8,456 Sq Ft Home
  • Recessed Lighting
  • Laminate Flooring
  • Laundry Room

Kitchen

  • Microwave
  • Dishwasher

Bedrooms and Bathrooms

  • 3 Bedrooms
  • 2 Bathrooms

Parking

  • 8 Open Parking Spaces
  • 8 Parking Spaces
  • Parking Available
  • Parking Lot

Utilities

  • Wall Furnace

Listing and Financial Details

  • Tenant pays for electricity, gas
  • Tax Lot 9
  • Tax Tract Number 3760
  • Assessor Parcel Number 7255015022

Community Details

Building Details

  • 14 Separate Electric Meters
  • 14 Separate Gas Meters
  • Insurance Expense $2,960
  • Trash Expense $3,500
  • Water Sewer Expense $3,500
  • New Taxes Expense $52,772
  • Operating Expense $77,778
  • Gross Income $600
  • Net Operating Income $199,356

Additional Features

  • 14 Units
  • Laundry Facilities

Property Details

Home Type

Multi-Family

Year Built

Built in 1952

Lot Details

0

Listing Details

  • CapRate: 4.60
  • Other Phone Description: Chris Walker
  • Other Phone Number: 9497563232
  • Price Per Unit: 307071
  • Property Attached: Yes
  • Road Frontage Type: City Street
  • Road Surface Type: Paved
  • Subdivision Name Other: Belmont Heights (BH)
  • Water Sewer Expenses: 3500.00
  • Zoning: LBR1N
  • Property Type: Residential Income
  • Parcel Number: 7255015022
  • Year Built: 1952
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Interior Amenities: Recessed Lighting
  • Common Walls: 1 Common Wall
  • Flooring: Laminate
  • Appliances: Yes
  • Price Per Square Foot: 496.57

Exterior Features

  • Pool Private: No
  • Roof: Shingle
  • Construction Materials: Stucco

Garage/Parking

  • Parking: Yes
  • Parking Features: On Site, Parking Space
  • Total Parking Spaces: 8.00
  • Uncovered Spaces: 8.00

Utilities

  • Heating: Yes
  • Laundry: Yes
  • Appliances: Dishwasher, Microwave, Refrigerator
  • Heating Type: Wall Furnace
  • Laundry Features: Community
  • Sewer: Public Sewer
  • Trash Expense: 3500.00
  • Water Source: Public

Condo/Co-op/Association

  • Community Features: Sidewalks

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: 11-15 Units/Acre
  • Lot Size Sq Ft: 11239.00

Rental Info

  • Tenant Pays: Electricity, Gas

Multi Family

  • Average1 Bed Area: 560 Square Feet
  • Average2 Bed Area: 812 Square Feet
  • Gross Income: 600.00
  • Gross Multiplier: 15.27
  • Gross Scheduled Income: 285168.00
  • Insurance Expense: 2960.00
  • Laundry Income: 100.00
  • Net Operating Income: 199356.00
  • Number Of Separate Electric Meters: 14
  • Number Of Separate Gas Meters: 14
  • Number Of Units Total: 14
  • Operating Expense: 77257.00
  • Other Income1: 500.00
  • Rent Control: No
  • Total Expenses: 77778.00
  • Vacancy Allowance Rate: 3.00

Tax Info

  • New Taxes Expense: 52772.00
  • Tax Census Tract: 5771.00
  • Tax Lot: 9
  • Tax Tract Number: 3760

Range of Values:

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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 Change Sq Ft Price
09/19/2017 09/19/17 Sold $4,199,000 0.0% $497 / Sq Ft
06/28/2017 06/28/17 Price Changed $4,199,000 -2.3% $497 / Sq Ft
05/23/2017 05/23/17 Price Changed $4,299,000 -1.3% $508 / Sq Ft
04/27/2017 04/27/17 Price Changed $4,355,000 -1.0% $515 / Sq Ft
01/27/2017 01/27/17 For Sale $4,400,000 -- $520 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Gary Tolfa

    Seller's Agent in 2017

    Gary Tolfa

    Triqor Group

    (949) 756-3232

    19 Total Sales

    Gary Tolfa
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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PW17041966

California Regional Multiple Listing Service (CRMLS)
California Los Angeles County Long Beach 90814 Belmont Heights

379 Termino Ave, Long Beach, CA

This home is located at 379 Termino Ave, Long Beach, CA 90814 since 27 January 2017. This property was built in 1952. 379 Termino Ave is a home located in Los Angeles County with nearby schools including Fremont Elementary School, Rogers Middle School, and Woodrow Wilson High School.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

California Regional Multiple Listing Service (CRMLS) The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.

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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