Seller's Agent in 2018
Kevin King
Marcus & Millichap
(562) 257-1245
1 in this area
45 Total Sales
406 E 7th St Long Beach, CA 90813
East Village NeighborhoodEstimated Value: $2,921,128
13
Beds
7
Baths
7,505
Sq Ft
$389/Sq Ft
Est. Value
About This Home
As of March 2018is pleased to offer a three building eight unit mixed-use property located at 406-420 E 7th Street and 652-654 Elm Avenue Long Beach, CA 90813. The property includes is a 3 bedroom and 1 bathroom single family bungalow style residence at 420 E 7th Street. A mixed-use building at 412 E 7th Street containing 3 retail units and 2 second story apartments and a 2 story residential du-plex at 652-654 Elm Street. The property is zoned LBPD 30. The property has 150 feet fronting E 7th Street and is 50 feet deep on Linden and Elm Avenues. The City of Long Beach continues to progress forward and is experiencing major redevelopment especially in the Downtown market. The Port of Long Beach is undergoing $4.4 Billion dollars in future development that will create 14,000 new and permanent jobs for Southern California. The $495 million dollar Long Beach Courthouse opened in September 2013. The Metro Rail on Long Beach Blvd allows for mass transportation through the greater LA Metropolis. The City Place shopping center and the surrounding area provides many necessity based shopping (Wal-Mart, Walgreens, CVS, Von's, etc.) The Pike at Rainbow Harbor, the East Village and Pine Avenue offer many eclectic dining and entertainment venues
Last Agent to Sell the Property
Marcus & Millichap License #01158184 Listed on: 01/10/2018
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $26,193
Year Built
- Built in 1908
Lot Details
- 7,506 Sq Ft Lot
- 1 Common Wall
- Density is 6-10 Units/Acre
Home Design
- Property Attached
Interior Spaces
- 7,505 Sq Ft Home
- 2-Story Property
Bedrooms and Bathrooms
- 13 Bedrooms
- 7 Bathrooms
Listing and Financial Details
- Tax Lot 2,4
- Tax Tract Number 576200
- Assessor Parcel Number 7273028004
Community Details
Overview
- 3 Buildings
- 7 Units
Building Details
- 8 Separate Electric Meters
- 8 Separate Gas Meters
- 1 Separate Water Meter
- Electric Expense $1,500
- Fuel Expense $1,500
- Insurance Expense $2,563
- Maintenance Expense $3,960
- Trash Expense $1,500
- Water Sewer Expense $1,500
- New Taxes Expense $21,875
- Operating Expense $34,398
- Gross Income $118,612
- Net Operating Income $84,214
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Closed on
Nov 9, 2021
Sold by
Bumpas Family Trust and Bumpas Brian W
Bought by
Bumpas Family Trust and Bumpas
Total Days on Market
22
Current Estimated Value
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,215,000
Outstanding Balance
$1,118,004
Interest Rate
2.99%
Mortgage Type
New Conventional
Estimated Equity
$1,486,138
Purchase Details
Closed on
Nov 10, 2020
Sold by
Bumpas Brian W
Bought by
Bumpas Brian W
Purchase Details
Listed on
Jan 10, 2018
Closed on
Mar 8, 2018
Sold by
Hebish Nady Z and Shahid Jehan A
Bought by
Bumpas Patricia and The Bumpas Family Trust
Seller's Agent
Kevin King
Marcus & Millichap
Buyer's Agent
Cynthia Voss
Re/Max R. E. Specialists
List Price
$1,750,000
Sold Price
$1,725,000
Premium/Discount to List
-$25,000
-1.43%
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
5.66%
Original Mortgage
$1,000,000
Interest Rate
4.22%
Mortgage Type
Future Advance Clause Open End Mortgage
Purchase Details
Closed on
Jun 10, 2016
Sold by
Shahid Jehan
Bought by
The Hebish Shahid Living Trust
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$650,000
Interest Rate
3.59%
Mortgage Type
Commercial
Purchase Details
Closed on
May 5, 2016
Sold by
Hebish Nady
Bought by
Shahid Jehan
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$650,000
Interest Rate
3.59%
Mortgage Type
Commercial
Purchase Details
Closed on
May 4, 2016
Sold by
Elm Entrepreneurs Inc
Bought by
Shahid Jehan
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$650,000
Interest Rate
3.59%
Mortgage Type
Commercial
Purchase Details
Closed on
Jun 3, 2015
Sold by
Cox Janet L
Bought by
Cox Janet L and The James Leslie Cox & Janet L
Purchase Details
Closed on
Sep 11, 1995
Sold by
Highland Federal Bank
Bought by
Elm Entrepreneurs Inc
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$128,000
Interest Rate
7.97%
Mortgage Type
Seller Take Back
Purchase Details
Closed on
Jul 12, 1995
Sold by
Sefton John and Sefton Ramona
Bought by
Highland Federal Bank Fsb
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area
Home Values in the Area
Average Home Value in this Area
Purchase History
| Date | Buyer | Sale Price | Title Company |
|---|---|---|---|
| Bumpas Family Trust | -- | First American Title Company O | |
| Bumpas Brian W | -- | None Available | |
| Bumpas Brian W | -- | None Available | |
| Bumpas Patricia | $1,725,000 | First American Title Company | |
| The Hebish Shahid Living Trust | -- | None Available | |
| Shahid Jehan | -- | Fidelity Sherman Oaks | |
| Shahid Jehan | $925,000 | Fidelity Sherman Oaks | |
| Cox Janet L | -- | None Available | |
| Elm Entrepreneurs Inc | $160,000 | Fidelity Title | |
| Highland Federal Bank Fsb | $250,000 | Southern California Title Co |
Source: Public Records
Mortgage History
| Date | Status | Borrower | Loan Amount |
|---|---|---|---|
| Open | Bumpas Family Trust | $1,215,000 | |
| Previous Owner | Bumpas Patricia | $1,000,000 | |
| Previous Owner | Shahid Jehan | $650,000 | |
| Previous Owner | Shahid Jehan | $650,000 | |
| Previous Owner | Elm Enterpreneurs Inc | $100,000 | |
| Previous Owner | Elm Entrepreneurs Inc | $128,000 |
Source: Public Records
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 03/16/2018 03/16/18 | Sold | $1,725,000 | -1.4% | $230 / Sq Ft |
| 01/10/2018 01/10/18 | For Sale | $1,750,000 | -- | $233 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
Tax History Compared to Growth
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 | $26,193 | $1,974,464 | $1,148,983 | $825,481 |
| 2024 | $26,193 | $1,935,750 | $1,126,454 | $809,296 |
| 2023 | $25,736 | $1,897,795 | $1,104,367 | $793,428 |
| 2022 | $24,043 | $1,849,547 | $1,093,646 | $755,901 |
| 2021 | $23,529 | $1,813,282 | $1,072,202 | $741,080 |
| 2020 | $23,467 | $1,794,690 | $1,061,208 | $733,482 |
| 2019 | $23,191 | $1,759,500 | $1,040,400 | $719,100 |
| 2018 | $13,336 | $962,370 | $728,280 | $234,090 |
| 2016 | $3,579 | $224,515 | $168,393 | $56,122 |
| 2015 | $3,460 | $221,143 | $165,864 | $55,279 |
| 2014 | $3,456 | $216,812 | $162,615 | $54,197 |
Source: Public Records
Agents Affiliated with this Home
-
Kevin King
-
Cynthia Voss
Buyer's Agent in 2018
Cynthia Voss
RE/MAX
(562) 884-3930
28 Total Sales
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: PW18006862
APN: 7273-028-004
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