NOT LISTED FOR SALE

4121 E Mendez St Long Beach, CA 90815

Traffic Circle Neighborhood

Estimated Value: $1,898,000 - $2,028,000

9 Beds
6 Baths
4,491 Sq Ft
$438/Sq Ft Est. Value

Last Sold August 11, 2022

Last sale price $1,728,000 $385 Per Sq Ft

Est. 14% increase in value since last sale

Current estimated payment $12,186/month

11 Days on Market

Highlights

  • Gated Community
  • Property is near park and public transit
  • No HOA
  • Bixby Elementary School Rated 9+
  • Quartz Countertops
  • Double Pane Windows

About This Home

As of August 2022

Seasoned or First Time Multi-Family Investor's Dream - This is the Perfect Opportunity to add a clean, well-maintained and highly desired 4-plex investment asset in Long Beach, near the Outer Traffic Circle.  Large 3-Bedroom/2-Bath front house with its own private yard/courtyard space and own inside laundry hookups and fireplace, along with three more Large 2-Bedroom units (1100sqft, 825sqft & 800sqft) behind and surrounded by the luxuriously pavered community courtyard/open space.  Each unit enjoys an assigned private garage with additional upper storage space enclosed.  Recently painted, newer dual pane windows and roof, main sewer line replacement, separate on-site community laundry room for the remaining three units, and a recently passed LB fire-inspection.  Individually Metered for Electric.  Most units have been remodeled over the years.  First time on the market in over 22 years.  Constructed in the 1960s and includes a bonus owner's storage/workshop area too, along with clean nice secure laundry room with community washer and dryer. Only blocks to Alamitos and Junipero Beaches and in close proximity to CSULB, 2nd & PCH Shopping Center, LB Exchange and Hangar, several Golf Courses, Parks and Public Transit.  Entertains frequent requests and inquiries for rental availability.  Added Bonus - Unit #4 is currently vacant, clean, renovated and ready for you to occupy or a paying tenant at Close of Escrow. Proforma rents in analysis/estimates.

Last Agent to Sell the Property

Jeffery Loftus

Keller Williams Coastal Prop. License #01818396 Listed on: 07/01/2022

Keller Williams Coastal Prop.

Last Buyer's Agent

Daniel Jensen

Jensen Realty License #01294017

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1963 | Remodeled

Lot Details

  • 6,509 Sq Ft Lot
  • Lot Dimensions are 50' x 128.65'
  • 1 Common Wall
  • Rectangular Lot

Parking

  • 4 Car Garage
  • Parking Storage or Cabinetry
  • Parking Available
  • Tandem Uncovered Parking
  • Garage Door Opener
  • Community Parking Structure

Home Design

  • Quadruplex
  • Composition Roof

Interior Spaces

  • 4,491 Sq Ft Home
  • 2-Story Property
  • Ceiling Fan
  • Recessed Lighting
  • Double Pane Windows
  • Family Room with Fireplace
  • Fire and Smoke Detector

Kitchen

  • Electric Range
  • Range Hood
  • Quartz Countertops
  • Formica Countertops
  • Disposal

Flooring

  • Carpet
  • Tile

Bedrooms and Bathrooms

  • 9 Bedrooms
  • 6 Bathrooms

Laundry

  • Laundry Room
  • Stacked Washer and Dryer

Outdoor Features

  • Exterior Lighting
  • Rain Gutters

Location

  • Property is near park and public transit

Utilities

  • Cooling System Mounted To A Wall/Window
  • Radiant Heating System
  • Electric Water Heater

Listing and Financial Details

  • Tenant pays for electricity, gas
  • Tax Lot 17
  • Tax Tract Number 26476
  • Assessor Parcel Number 7219008033

Community Details

Overview

  • No Home Owners Association
  • 4 Units
  • Built by T&T Investment Corp
  • Circle Subdivision

Building Details

  • 3 Leased Units
  • Rent Control
  • 5 Separate Electric Meters
  • 4 Separate Gas Meters
  • 1 Separate Water Meter
  • Electric Expense $400
  • Gardener Expense $1,200
  • Insurance Expense $1,200
  • Maintenance Expense $1,200
  • Water Sewer Expense $3,000
  • Operating Expense $7,000
  • Gross Income $144,000
  • Net Operating Income $116,400

Additional Features

  • Laundry Facilities
  • Gated Community

Property Details

Home Type

Multi-Family

Year Built

Built in 1963 | Remodeled

Lot Details

0

Parking

4

Listing Details

  • Assessments: Yes
  • Inclusions: Community Laundry Machines
  • Property Attached: Yes
  • Security: Gated Community, Smoke Detector(s)
  • Subdivision Name Other: Circle (CA)
  • View: No
  • Water Sewer Expenses: 3000.00
  • Zoning: LBR34
  • Property Condition: Updated/Remodeled
  • Property Sub Type: Quadruplex
  • Property Type: Residential Income
  • Gardener Expense: 1200.00
  • Parcel Number: 7219008033
  • Year Built: 1963
  • Special Features: None

Interior Features

  • Fireplace: Yes
  • Interior Amenities: Ceiling Fan(s), Formica Counters, Quartz Counters, Recessed Lighting, Unfurnished
  • Stories: 2
  • Common Walls: 1 Common Wall
  • Flooring: Carpet, Tile
  • Appliances: Yes
  • Fireplace Features: Family Room
  • Levels: Two
  • Price Per Square Foot: 384.77
  • Window Features: Double Pane Windows

Exterior Features

  • Builder Name: T&T Investment Corp
  • Pool Private: No
  • Roof: Composition
  • Spa: No

Garage/Parking

  • Garage Spaces: 4.00
  • Parking: Yes
  • Parking Features: Built-In Storage, Community Structure, Garage, Garage Door Opener, Tandem Uncovered
  • Total Parking Spaces: 4.00

Utilities

  • Utilities: Electricity Connected, Sewer Connected, Water Connected
  • Heating: Yes
  • Laundry: Yes
  • Appliances: Electric Range, Electric Water Heater, Disposal, Range Hood
  • Heating Type: Fireplace(s), Radiant
  • Laundry Features: Common Area, Community, Individual Room, Inside, Stackable
  • Sewer: Public Sewer
  • Water Source: Public
  • Cooling: Wall/Window Unit(s)
  • Cooling: Yes

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Community Features: Curbs, Gutters, Sidewalks, Street Lights

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: Rectangular Lot, Near Public Transit, Park Nearby
  • Lot Size: 50' x 128.65'
  • Lot Size Sq Ft: 6509.00
  • Lot Size Acres: 0.1494
  • Latitude Manual: 33.79106400

Rental Info

  • Tenant Pays: Electricity, Gas

Multi Family

  • Electric Expense: 400.00
  • Gross Operating Income: 144000.00
  • Gross Scheduled Income: 144000.00
  • Insurance Expense: 1200.00
  • Laundry Equipment Own Lease: Own
  • Lot Size Area: 6509.0000 Square Feet
  • Maintenance Expense: 1200.00
  • Net Operating Income: 116400.00
  • Number Of Separate Electric Meters: 5
  • Number Of Separate Gas Meters: 4
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 3
  • Number Of Units Total: 4
  • Number With Disposal: 4
  • Operating Expense: 26037.00
  • Rent Control: Yes
  • Total Expenses: 7000.00

Tax Info

  • Tax Census Tract: 5750.01
  • Tax Lot: 17
  • Tax Tract Number: 26476

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jul 1, 2022
Closed on
Aug 9, 2022
Sold by
Okonkwo Juliet
Bought by
Okonkwo Henry
Seller's Agent
Jeffery Loftus
Keller Williams Coastal Prop.
Buyer's Agent
Daniel Jensen
Jensen Realty
List Price
$1,599,000
Sold Price
$1,728,000
Premium/Discount to List
$129,000
8.07%
Views
3
Current Estimated Value
$1,968,056

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$240,056
Avg. Annual Appreciation
3.90%
Original Mortgage
$0
Interest Rate
5.51%
Mortgage Type
New Conventional

Purchase Details

Listed on
Jul 1, 2022
Closed on
Jul 18, 2022
Sold by
Urke Family Trust
Bought by
Okonkwo Henry
Seller's Agent
Jeffery Loftus
Keller Williams Coastal Prop.
Buyer's Agent
Daniel Jensen
Jensen Realty
List Price
$1,599,000
Sold Price
$1,728,000
Premium/Discount to List
$129,000
8.07%
Views
3

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$0
Interest Rate
5.51%
Mortgage Type
New Conventional

Purchase Details

Closed on
Nov 1, 2016
Sold by
Urke Gary Knut
Bought by
Urke Gary Knut and Urke Dorothy Jane

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$328,500
Interest Rate
3.48%
Mortgage Type
New Conventional

Purchase Details

Closed on
Feb 27, 2006
Sold by
Urke Gary Knut
Bought by
Urke Gary Knut and Urke Dorothy Jane

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$380,000
Interest Rate
6.08%
Mortgage Type
Fannie Mae Freddie Mac

Purchase Details

Closed on
May 27, 2004
Sold by
Urke Gary Knut
Bought by
Urke Gary Knut and Urke Dorothy Jane

Purchase Details

Closed on
May 27, 1998
Sold by
Eldred Agnes M Tr
Bought by
Urke Gary Knut and Urke Dorothy Jane

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$296,000
Interest Rate
7.01%
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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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
Okonkwo Henry -- Ticor Title
Okonkwo Henry $1,728,000 Ticor Title
Okonkwo Henry $1,728,000 Ticor Title
Urke Gary Knut -- Placer Title Company
Urke Gary Knut -- First American Title Ins Co
Urke Gary Knut -- First American Title Ins Co
Urke Gary Knut -- --
Urke Gary Knut $370,000 Gateway Title
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Closed Okonkwo Henry $0
Open Okonkwo Henry $1,230,768
Closed Okonkwo Henry $1,230,768
Previous Owner Urke Gary Knut $328,500
Previous Owner Urke Gary Knut $380,000
Previous Owner Urke Gary Knut $296,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
08/11/2022 08/11/22 Sold $1,728,000 +8.1% $385 / Sq Ft
07/12/2022 07/12/22 Pending -- -- --
07/01/2022 07/01/22 For Sale $1,599,000 -- $356 / 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 $22,860 $1,797,811 $1,144,440 $653,371
2024 $22,860 $1,762,560 $1,122,000 $640,560
2023 $22,394 $1,728,000 $1,100,000 $628,000
2022 $7,452 $546,579 $169,878 $376,701
2021 $7,280 $535,863 $166,548 $369,315
2020 $7,259 $530,370 $164,841 $365,529
2019 $7,177 $519,971 $161,609 $358,362
2018 $6,901 $509,777 $158,441 $351,336
2016 $6,331 $489,985 $152,290 $337,695
2015 $6,088 $482,626 $150,003 $332,623
2014 $6,063 $473,173 $147,065 $326,108
Source: Public Records

Agents Affiliated with this Home

  • Jeffery Loftus

    Seller's Agent in 2022

    Jeffery Loftus

    Keller Williams Coastal Prop.

    (562) 397-6778

    2 in this area

    49 Total Sales

    Jeffery Loftus
    Section Image

  • D

    Buyer's Agent in 2022

    Daniel Jensen

    Jensen Realty

    (310) 809-2891

    1 in this area

    68 Total Sales

    Daniel Jensen
    Section Image
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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PW22143719

California Regional Multiple Listing Service (CRMLS)

APN: 7219-008-033

California Los Angeles County Long Beach 90815 Traffic Circle

4121 E Mendez St, Long Beach, CA

Not Listed for Sale

MultiFamily

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