NOT LISTED FOR SALE

Estimated Value: $1,343,000 - $1,861,321

3 Beds
3 Baths
2,526 Sq Ft
$611/Sq Ft Est. Value

Last Sold July 07, 2023

Last sale price $1,675,000 $663 Per Sq Ft

Est. 10% decrease in value since last sale

Current estimated payment $9,722/month

110 Days on Market

Highlights

  • All Bedrooms Downstairs
  • Ductless Heating Or Cooling System
  • Tankless Water Heater
  • Bixby Elementary School Rated 9+
  • Laundry Room
  • Zoned Heating and Cooling

About This Home

As of July 2023

Welcome to this incredible investment opportunity in the heart of Long Beach. Located in a quiet residential neighborhood, this 4-unit property has been extensively remodeled to provide a complete turnkey investment. The front building (1536 sf), originally built in 1944 and completely remodeled in 2021, consists of two 2-bedroom, 1-bath units and the back building (990 sf, remodeled/converted in 2022) consists of one 1-bedroom, 1-bath unit (converted rumpus room) and one studio (ADU-converted garage). Each unit features shaker cabinets with soft-close drawers, quartz countertops, waterproof LVP flooring, stainless-steel appliances, multi-zoned mini-splits for air/heat, stackable in-unit laundry, new windows, new roof on back building, new gutters, tankless water heaters (servicing back building), recessed lighting, ceiling fans, new plumbing, new electrical wiring and panels, private entrances, and dedicated off-street parking space. Additionally, the front duplex has had voluntary seismic retrofit work completed in March. Each unit has their own address and is separately metered for water, gas and electricity. The property has been landscaped with artificial turf and rock minimizing any landscaping maintenance and water usage. There are security cameras (no monthly fee) installed around the perimeter of the property as well. Tenants pay all utilities (water, gas, electric) as well as sewer and trash. Owner responsible for property taxes, insurance and pest control. The property has easy access to the 405 FWY and is close proximity to the Traffic Circle shops and restaurants, Costco, Target, Home Depot, Lowes, Starbucks, CSULB, LBX and The Hangar, and much more.

Last Agent to Sell the Property

Eugene Rogachevsky

Broadmoor Realty, Inc. License #02019260 Listed on: 10/26/2022

Last Buyer's Agent

Miguel Belmonte

Century 21 Allstars License #01047933

Century 21 Allstars

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1944

Lot Details

  • 7,897 Sq Ft Lot
  • Two or More Common Walls
  • Density is 2-5 Units/Acre

Home Design

  • 2,526 Sq Ft Home
  • Quadruplex

Kitchen

  • Gas Oven
  • Microwave
  • Dishwasher
  • Disposal

Bedrooms and Bathrooms

  • 3 Bedrooms
  • All Bedrooms Down
  • 3 Bathrooms

Laundry

  • Laundry Room
  • Stacked Washer and Dryer

Parking

  • 4 Open Parking Spaces
  • 4 Parking Spaces
  • Parking Available
  • Paved Parking
  • Parking Lot
  • Off-Street Parking
  • Assigned Parking

Utilities

  • Ductless Heating Or Cooling System
  • Zoned Heating and Cooling
  • Natural Gas Connected
  • Tankless Water Heater

Additional Features

  • Exterior Lighting
  • Suburban Location

Listing and Financial Details

  • Tenant pays for all utilities, electricity, gas, sewer, trash collection, water
  • Tax Lot 49
  • Tax Tract Number 11451
  • Assessor Parcel Number 7218003005
  • $5,500 per year additional tax assessments

Community Details

Overview

  • 2 Buildings
  • 4 Units
  • Artcraft Manor Subdivision

Building Details

  • 4 Leased Units
  • Rent Control
  • 4 Separate Electric Meters
  • 4 Separate Gas Meters
  • 4 Separate Water Meters
  • Insurance Expense $1,350
  • Pest Control $660
  • New Taxes Expense $24,738
  • Operating Expense $26,748
  • Gross Income $115,800
  • Net Operating Income $89,052

Property Details

Home Type

Multi-Family

Year Built

Built in 1944

Lot Details

0

Listing Details

  • Assessments: No
  • CapRate: 4.46
  • Inclusions: all appliances, washer/dryer units
  • Property Attached: Yes
  • Subdivision Name Other: Artcraft Manor (AM)
  • Property Sub Type: Quadruplex
  • Property Type: Residential Income
  • Parcel Number: 7218003005
  • Year Built: 1944
  • Special Features: None

Interior Features

  • Fireplace: No
  • Common Walls: 2+ Common Walls
  • Appliances: Yes
  • Price Per Square Foot: 663.10
  • Room Type: All Bedrooms Down

Exterior Features

  • Pool Private: No

Garage/Parking

  • Parking: Yes
  • Parking Features: Assigned, Paved, Off Street, Parking Space
  • Total Parking Spaces: 4.00
  • Uncovered Spaces: 4.00

Utilities

  • Utilities: Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
  • Heating: Yes
  • Laundry: Yes
  • Appliances: Dishwasher, Disposal, Gas Oven, Microwave, Refrigerator, Tankless Water Heater, Water Heater
  • Heating Type: Ductless, Zoned
  • Laundry Features: Dryer Included, Inside, Stackable, Washer Included
  • Pest Control Expense: 660.00
  • Sewer: Public Sewer
  • Water Source: Public
  • Cooling: Ductless, Zoned
  • Cooling: Yes

Condo/Co-op/Association

  • Senior Community: No
  • Community Features: Curbs, Sidewalks, Street Lights, Suburban

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: 2-5 Units/Acre
  • Lot Size Sq Ft: 7897.00
  • Lot Size Acres: 0.1813
  • Latitude Manual: 33.80247500

Rental Info

  • Tenant Pays: All Utilities, Electricity, Gas, Sewer, Trash Collection, Water

Multi Family

  • Average1 Bed Area: 583 Square Feet
  • Average2 Bed Area: 768 Square Feet
  • Average Studio Area: 407 Square Feet
  • Gross Income: 115800.00
  • Gross Scheduled Income: 115800.00
  • Insurance Expense: 1350.00
  • Lot Size Area: 7897.0000 Square Feet
  • Net Operating Income: 89052.00
  • Number Of Separate Electric Meters: 4
  • Number Of Separate Gas Meters: 4
  • Number Of Separate Water Meters: 4
  • Number Of Units Leased: 4
  • Number Of Units Total: 4
  • Number With Dishwasher: 4
  • Number With Disposal: 4
  • Number With Range: 4
  • Number With Refrigerator: 4
  • Operating Expense: 26748.00
  • Rent Control: Yes
  • Total Expenses: 26748.00

Tax Info

  • New Taxes Expense: 24738.00
  • Tax Lot: 49
  • Tax Tract Number: 11451
  • TaxOtherAnnualAssessmentAmount: 5500.00

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Apr 1, 2020
Closed on
May 12, 2020
Sold by
Gonzalez Sandra Elisa
Bought by
Gonzalez Alex
Seller's Agent
Maria Valencia
Think Boutiq Real Estate
Buyer's Agent
Eugene Rogachevsky
Broadmoor Realty, Inc.
List Price
$830,000
Sold Price
$842,000
Premium/Discount to List
$12,000
1.45%
Current Estimated Value
$1,515,001

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$673,001
Avg. Annual Appreciation
11.44%
Original Mortgage
$631,500
Outstanding Balance
$559,597
Interest Rate
3.3%
Mortgage Type
New Conventional
Estimated Equity
$982,983

Purchase Details

Listed on
Apr 1, 2020
Closed on
May 11, 2020
Sold by
Gonzalez Alex and Gonzlaez Diana M
Bought by
Rogachevsky Eugene and Rogachevsky Tiana
Seller's Agent
Maria Valencia
Think Boutiq Real Estate
Buyer's Agent
Eugene Rogachevsky
Broadmoor Realty, Inc.
List Price
$830,000
Sold Price
$842,000
Premium/Discount to List
$12,000
1.45%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$631,500
Outstanding Balance
$559,597
Interest Rate
3.3%
Mortgage Type
New Conventional
Estimated Equity
$982,983

Purchase Details

Listed on
May 20, 2015
Closed on
Jul 25, 2015
Sold by
Kalfayan Stephanie and The Alice Webb Revocable Trust
Bought by
Gonzales Alex and Cabrera Diana M
Seller's Agent
Susan Turner
Realty One Group West
Buyer's Agent
Maria Valencia
Think Boutiq Real Estate
List Price
$630,000
Sold Price
$595,000
Premium/Discount to List
-$35,000
-5.56%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
7.42%
Original Mortgage
$584,223
Interest Rate
3.98%
Mortgage Type
FHA

Purchase Details

Closed on
Jul 15, 2014
Sold by
Webb Alice
Bought by
Webb Alice and The Alice Webb Revocable Trust

Purchase Details

Closed on
Jan 24, 2014
Sold by
Webb Alice
Bought by
Webb Alice and The Alice Webb Revocable Trust

Purchase Details

Closed on
Nov 15, 2007
Sold by
Webb Alice
Bought by
Webb Alice and The Alice Webb Revocable Trust

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$156,000
Interest Rate
6.25%
Mortgage Type
New Conventional

Purchase Details

Closed on
Feb 9, 2005
Sold by
Webb Alice
Bought by
Webb Alice and Alice Webb Revocable Trust
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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Average Value
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List Price
Sold Price
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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
Gonzalez Alex -- First American Title Company
Rogachevsky Eugene $842,000 First American Title Company
Gonzalez Diana M Cabrera -- First American Title Company
Gonzales Alex $595,000 First American Title Company
Webb Alice -- None Available
Webb Alice -- None Available
Webb Alice -- First American Title
Webb Alice -- First American Title
Webb Alice -- None Available
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Rogachevsky Eugene $631,500
Previous Owner Gonzales Alex $584,223
Previous Owner Webb Alice $156,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft Prior Sale
07/07/2023 07/07/23 Sold $1,675,000 -2.9% $663 / Sq Ft
05/22/2023 05/22/23 Price Changed $1,725,000 -1.4% $683 / Sq Ft
05/08/2023 05/08/23 Price Changed $1,750,000 -0.8% $693 / Sq Ft
04/24/2023 04/24/23 Price Changed $1,765,000 -0.6% $699 / Sq Ft
03/22/2023 03/22/23 Price Changed $1,775,000 -1.4% $703 / Sq Ft
02/24/2023 02/24/23 Price Changed $1,800,000 -2.7% $713 / Sq Ft
02/22/2023 02/22/23 For Sale $1,849,500 0.0% $732 / Sq Ft
02/13/2023 02/13/23 Pending -- -- --
02/08/2023 02/08/23 Price Changed $1,849,500 -1.4% $732 / Sq Ft
01/17/2023 01/17/23 Price Changed $1,874,950 -1.1% $742 / Sq Ft
12/22/2022 12/22/22 Price Changed $1,895,000 -1.5% $750 / Sq Ft
12/19/2022 12/19/22 Price Changed $1,924,000 -1.3% $762 / Sq Ft
12/07/2022 12/07/22 Price Changed $1,949,000 -1.3% $772 / Sq Ft
11/22/2022 11/22/22 Price Changed $1,975,000 -1.0% $782 / Sq Ft
10/26/2022 10/26/22 For Sale $1,995,000 +136.9% $790 / Sq Ft
06/02/2020 06/02/20 Sold $842,000 +1.4% $399 / Sq Ft View Prior Sale
05/14/2020 05/14/20 For Sale $830,000 0.0% $394 / Sq Ft
04/15/2020 04/15/20 Pending -- -- --
03/22/2020 03/22/20 For Sale $830,000 +39.5% $394 / Sq Ft
07/30/2015 07/30/15 Sold $595,000 -5.6% $282 / Sq Ft View Prior Sale
06/21/2015 06/21/15 Pending -- -- --
05/20/2015 05/20/15 For Sale $630,000 -- $299 / 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 $21,693 $1,708,500 $1,122,000 $586,500
2024 $21,693 $1,675,000 $1,100,000 $575,000
2023 $11,905 $885,090 $464,620 $420,470
2022 $11,181 $867,736 $455,510 $412,226
2021 $10,743 $850,723 $446,579 $404,144
2020 $8,339 $644,046 $454,621 $189,425
2019 $8,242 $631,418 $445,707 $185,711
2018 $7,980 $619,038 $436,968 $182,070
2016 $7,344 $595,000 $420,000 $175,000
2015 $7,715 $645,000 $445,000 $200,000
2014 $2,374 $173,696 $56,150 $117,546
Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PW22229836

California Regional Multiple Listing Service (CRMLS)

APN: 7218-003-005