NOT LISTED FOR SALE
6 Beds
4 Baths
6,758 Sq Ft
4,230 Sq Ft Lot

Last Sold June 06, 2018

Last sale price $3,590,000 $531 Per Sq Ft

167 Days on Market

Highlights

  • Open Floorplan
  • Wood Flooring
  • No HOA
  • Fremont Elementary School Rated A
  • Granite Countertops
  • Laundry Room

About This Home

As of June 2018

The Second Street Apartments is a 10-unit garden style community comprised of a studio, one-bedroom, two-bedroom and three bedroom units with ocean views and three private garages. Investors have the opportunity to add value to a turn-key property located in prime Belmont Heights. The asset's highly sough-after location is just a few steps from the ocean, Belmont Pier and walking distance to a multitude of retail corridors, restaurants, coffee shops and bars along Long Beach's busiest main streets, East Broadway and East 2nd Street.

Belmont Heights is one of most prestigious coastal neighborhoods. The neighborhood is a pedestrian friendly neighborhood boasting a walk score of 83.

Last Agent to Sell the Property

Robert Stepp

Keller Williams Realty Downey License #01456379 Listed on: 09/07/2017

Keller Williams Realty Downey

Last Buyer's Agent

Hal Pappano

Capitalvest, Inc. License #00758111

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1950

Lot Details

  • 4,230 Sq Ft Lot
  • Two or More Common Walls
  • Front Yard

Parking

  • 3 Car Garage
  • Parking Available
  • Front Facing Garage

Home Design

  • Property Attached

Interior Spaces

  • 6,758 Sq Ft Home
  • 2-Story Property
  • Open Floorplan
  • Ceiling Fan
  • Wood Flooring
  • Granite Countertops
  • Laundry Room

Bedrooms and Bathrooms

  • 6 Bedrooms
  • 4 Bathrooms

Utilities

  • Septic Type Unknown

Listing and Financial Details

  • Tax Lot 28
  • Tax Tract Number 5772
  • Assessor Parcel Number 7256011028

Community Details

Overview

  • No Home Owners Association
  • 10 Units

Amenities

  • Laundry Facilities

Building Details

  • 10 Separate Electric Meters
  • 10 Separate Gas Meters
  • Electric Expense $1,333
  • Gardener Expense $1,200
  • Insurance Expense $2,703
  • Maintenance Expense $5,500
  • Pest Control $500
  • Professional Management Expense $8,621
  • Supplies Expense $2,000
  • Trash Expense $1,333
  • Water Sewer Expense $1,333
  • New Taxes Expense $43,183
  • Operating Expense $68,207
  • Gross Income $215,515
  • Net Operating Income $147,307

Property Details

Home Type

Multi-Family

Year Built

Built in 1950

Lot Details

0

Parking

3

Listing Details

  • Professional Management Expense: 8621.00
  • Property Attached: Yes
  • Subdivision Name Other: Belmont Heights (BH)
  • Supplies Expense: 2000.00
  • Water Sewer Expenses: 1333.00
  • Zoning: LBR3S
  • Property Type: Residential Income
  • Gardener Expense: 1200.00
  • Parcel Number: 7256011028
  • Year Built: 1950
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Interior Amenities: Ceiling Fan(s), Granite Counters, Open Floorplan
  • Stories: 2
  • Common Walls: 2+ Common Walls
  • Flooring: Wood
  • Levels: Two
  • Price Per Square Foot: 531.22

Exterior Features

  • Pool Private: No

Garage/Parking

  • Garage Spaces: 3.00
  • Parking: Yes
  • Parking Features: Garage Faces Front
  • Total Parking Spaces: 3.00

Utilities

  • Laundry: Yes
  • Laundry Features: Community
  • Pest Control Expense: 500.00
  • Sewer: Unknown
  • Trash Expense: 1333.00
  • Water Source: Public

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Community Features: Sidewalks

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: Front Yard
  • Lot Size Sq Ft: 4230.00

Multi Family

  • Average1 Bed Area: 575 Square Feet
  • Average2 Bed Area: 800 Square Feet
  • Average3 Bed Area: 1025 Square Feet
  • Average Studio Area: 458 Square Feet
  • Electric Expense: 1333.00
  • Gross Income: 215515.00
  • Gross Scheduled Income: 214380.00
  • Insurance Expense: 2703.00
  • Maintenance Expense: 5500.00
  • Net Operating Income: 147307.00
  • Number Of Separate Electric Meters: 10
  • Number Of Separate Gas Meters: 10
  • Number Of Units Total: 10
  • Operating Expense: 68207.00
  • Rent Control: No
  • Total Expenses: 68207.00

Tax Info

  • New Taxes Expense: 43183.00
  • Tax Census Tract: 5772.00
  • Tax Lot: 28
  • Tax Tract Number: 5772

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 List to Sale Price per Sq Ft
06/06/2018 06/06/18 Sold $3,590,000 -2.7% $531 / Sq Ft
02/21/2018 02/21/18 Pending -- -- --
02/13/2018 02/13/18 Price Changed $3,690,000 0.0% $546 / Sq Ft
02/13/2018 02/13/18 For Sale $3,690,000 +2.8% $546 / Sq Ft
11/16/2017 11/16/17 Off Market $3,590,000 -- --
11/16/2017 11/16/17 Pending -- -- --
09/07/2017 09/07/17 For Sale $3,900,000 -- $577 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PW17206014

California Regional Multiple Listing Service (CRMLS)