NOT LISTED FOR SALE

Estimated Value: $2,199,541 - $2,500,000

4 Beds
6 Baths
4,228 Sq Ft
$556/Sq Ft Est. Value

Last Sold November 25, 2020

Last sale price $1,780,000 $421 Per Sq Ft

Est. 32% increase in value since last sale

Current estimated payment $15,204/month

11 Days on Market

Highlights

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

About This Home

As of November 2020

Beautiful & rarely on the market! 6 Unit Spanish Style building in the prestigious Belmont Heights area of Long Beach. Exceptionally well maintained property. This property offers 4 garages + extra parking spaces between the two buildings. Each of the front units are 1 bedroom, 1 baths, and there are 2 studio units in the back above the detached garages.

Last Agent to Sell the Property

Linda Ethier

Linda Ethier, Broker License #00669385 Listed on: 09/03/2020

Last Buyer's Agent

Brad Jones

Keller Williams Pacific Estate License #01394310

Keller Williams Pacific Estate

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $24,164

Year Built

  • Built in 1923

Lot Details

  • 6,753 Sq Ft Lot
  • Two or More Common Walls
  • Density is 6-10 Units/Acre

Parking

  • 4 Car Garage

Home Design

  • Property Attached

Interior Spaces

  • 4,228 Sq Ft Home
  • 2-Story Property

Bedrooms and Bathrooms

  • 4 Bedrooms
  • 6 Bathrooms

Laundry

  • Laundry Room
  • Leased Washer and Dryer

Utilities

  • Wall Furnace

Listing and Financial Details

  • Tenant pays for electricity, gas
  • Legal Lot and Block 4 / H
  • Tax Tract Number 5771
  • Assessor Parcel Number 7255022006

Community Details

Overview

  • 2 Buildings
  • 6 Units
  • Belmont Heights Subdivision

Amenities

  • Laundry Facilities

Building Details

  • 7 Separate Electric Meters
  • 7 Separate Gas Meters
  • 1 Separate Water Meter
  • Electric Expense $471
  • Fuel Expense $480
  • Insurance Expense $2,210
  • Professional Management Expense $3,600
  • Trash Expense $540
  • Water Sewer Expense $1,860
  • New Taxes Expense $23,000
  • Operating Expense $8,000
  • Gross Income $101,808
  • Net Operating Income $95,140

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$24,164

Year Built

Built in 1923

Lot Details

0

Parking

4

Listing Details

  • Professional Management Expense: 3600.00
  • Property Attached: Yes
  • Subdivision Name Other: Belmont Heights (BH)
  • Water Sewer Expenses: 1860.00
  • Zoning: LBR34
  • Property Type: Residential Income
  • Parcel Number: 7255022006
  • Year Built: 1923
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Fireplace: No
  • Stories: 2
  • Common Walls: 2+ Common Walls
  • Levels: Two
  • Price Per Square Foot: 421.00

Exterior Features

  • Pool Private: No

Garage/Parking

  • Garage Spaces: 4.00
  • Total Parking Spaces: 4.00

Utilities

  • Heating: Yes
  • Laundry: Yes
  • Heating Type: Wall Furnace
  • Laundry Features: Common Area
  • Sewer: Public Sewer
  • Trash Expense: 540.00
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No
  • Community Features: Curbs, Sidewalks

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: 6-10 Units/Acre
  • Lot Size Sq Ft: 6753.00
  • Lot Size Acres: 0.1550

Rental Info

  • Tenant Pays: Electricity, Gas

Multi Family

  • Electric Expense: 471.46
  • Fuel Expense: 480.00
  • Gross Income: 101808.00
  • Gross Scheduled Income: 101808.00
  • Insurance Expense: 2210.00
  • Laundry Equipment Own Lease: Lease
  • Lot Size Area: 6753.0000 Square Feet
  • Net Operating Income: 95140.00
  • Number Of Separate Electric Meters: 7
  • Number Of Separate Gas Meters: 7
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 6
  • Operating Expense: 6668.00
  • Rent Control: No
  • Total Expenses: 8000.00

Tax Info

  • New Taxes Expense: 23000.00
  • Tax Block: H
  • Tax Census Tract: 5771.00
  • Tax Lot: 4
  • Tax Tract Number: 5771

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Sep 23, 2020
Sold by
Roberts Daniel A and Neeley Maureen C
Bought by
Chernick Wade Jeffrey and Chernick Sondra Elaine
Total Days on Market
11
Current Estimated Value
$2,349,771

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$800,000
Interest Rate
2.8%
Mortgage Type
Commercial

Purchase Details

Closed on
Nov 16, 2015
Sold by
Roberts Daniel A and Neeley Maureen C
Bought by
Roberts Family Trust

Purchase Details

Closed on
Jan 6, 2015
Sold by
Security F S E Two Hundred & Eight Inc
Bought by
Roberts Daniel A and Neeley Maureen C

Purchase Details

Listed on
Apr 23, 2014
Closed on
Jun 23, 2014
Sold by
Gorsky Olena
Bought by
Gorsky Victor
Seller's Agent
Linda Ethier
Linda Ethier, Broker
Buyer's Agent
Steven Rime
Keller Williams South Bay
List Price
$1,350,000
Sold Price
$1,300,000
Premium/Discount to List
-$50,000
-3.7%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
5.33%

Purchase Details

Listed on
Apr 23, 2014
Closed on
Jun 19, 2014
Sold by
Gorsky Victor E
Bought by
Security F S E Two Hundred & Eight Inc
Seller's Agent
Linda Ethier
Linda Ethier, Broker
Buyer's Agent
Steven Rime
Keller Williams South Bay
List Price
$1,350,000
Sold Price
$1,300,000
Premium/Discount to List
-$50,000
-3.7%

Purchase Details

Closed on
Jun 27, 2007
Sold by
Irwin Hurley Linda D
Bought by
Gorsky Victor E

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$890,000
Interest Rate
6.74%
Mortgage Type
Commercial

Purchase Details

Closed on
Jul 25, 2003
Sold by
Irwin Linda D
Bought by
Irwin Linda D

Purchase Details

Closed on
Dec 30, 1998
Sold by
Young Ronald S and Young Lydia M
Bought by
Irwin Linda D

Purchase Details

Closed on
Sep 9, 1996
Sold by
Young Ronald S
Bought by
Young Ronald Steven and Young Lydia M
Source: Public Records

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Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Chernick Wade Jeffrey $1,760,000 Stewart Title Of Ca Inc
Roberts Family Trust -- None Available
Roberts Daniel A -- None Available
Gorsky Victor -- First American Title
Security F S E Two Hundred & Eight Inc $1,280,000 First American Title
Gorsky Victor E $1,230,000 North American Title Co
Irwin Linda D -- --
Irwin Linda D -- North American Title
Young Ronald Steven -- --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Chernick Wade Jeffrey $800,000
Previous Owner Gorsky Victor E $890,000
Previous Owner Irwin Linda D $300,000
Previous Owner Irwin Linda D $118,103
Previous Owner Irwin Linda D $80,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
11/25/2020 11/25/20 Sold $1,780,000 -6.3% $421 / Sq Ft
09/14/2020 09/14/20 Pending -- -- --
09/03/2020 09/03/20 For Sale $1,900,000 +46.2% $449 / Sq Ft
07/31/2014 07/31/14 Sold $1,300,000 -3.7% $307 / Sq Ft
06/16/2014 06/16/14 Pending -- -- --
04/23/2014 04/23/14 For Sale $1,350,000 -- $319 / 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
2024 $24,164 $1,867,725 $1,215,083 $652,642
2023 $23,762 $1,831,104 $1,191,258 $639,846
2022 $22,299 $1,795,200 $1,167,900 $627,300
2021 $21,861 $1,760,000 $1,145,000 $615,000
2020 $17,989 $1,407,118 $989,043 $418,075
2019 $17,779 $1,379,537 $969,650 $409,887
2018 $17,276 $1,352,498 $950,638 $401,860
2016 $15,894 $1,299,520 $913,725 $385,795
2015 $15,257 $1,280,000 $900,000 $380,000
2014 $11,467 $930,000 $500,000 $430,000
Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PW20183062

California Regional Multiple Listing Service (CRMLS)

APN: 7255-022-006