Seller's Agent in 2020
Vince Sanchez
Appleby Commercial Real Estate
(562) 432-3322
3 Total Sales
417 Olive Ave Long Beach, CA 90802
East Village NeighborhoodEstimated Value: $1,263,196
1
Bed
2
Baths
4,512
Sq Ft
$280/Sq Ft
Est. Value
Highlights
- 0.06 Acre Lot
- Property is near public transit
- Zero Lot Line
- Long Beach Polytechnic High School Rated A
- Wood Flooring
- Wall Furnace
About This Home
As of October 2020We are pleased to present this Investment Opportunity to own a Mixed-Use building Located within the East Village Arts District that hasn't been on the market in over 30 years. Built in 1925 this property was seismically retrofitted in 1992 and originally built with Four(4), One (1) bedroom apartment units above One (1) commercial ground floor unit. Full market rents can be obtained without paying any relocation fees. Great opportunity to convert to 5 individual gas and electrical meters. Lots of natural light through the many windows and multiple access points through the upper and lower walkways. This is an investor opportunity to acquire, add value with true upside in one of the most desirable areas in Downtown Long Beach. Could also use this opportunity to reconfigure units to create a better unit mix. New wood flooring installed less than 5 years ago.
Last Agent to Sell the Property
Appleby Commercial Real Estate License #01341646 Listed on: 08/20/2020
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1925
Lot Details
- 2,782 Sq Ft Lot
- Two or More Common Walls
- Zero Lot Line
Home Design
- Property Attached
- Fixer Upper
- Slab Foundation
- Composition Roof
Interior Spaces
- 4,512 Sq Ft Home
- 2-Story Property
- Wood Flooring
- Gas Range
Bedrooms and Bathrooms
- 1 Bedroom
- 2 Bathrooms
Outdoor Features
- Exterior Lighting
Location
- Property is near public transit
- Urban Location
Utilities
- Wall Furnace
- Central Water Heater
Listing and Financial Details
- Legal Lot and Block 28 / 71
- Tax Tract Number 5762
- Assessor Parcel Number 7281006036
Community Details
Overview
- 5 Units
- Downtown Subdivision
Building Details
- 2 Separate Electric Meters
- 2 Separate Gas Meters
- 1 Separate Water Meter
- Operating Expense $33,516
- Gross Income $100,800
- Net Operating Income $62,244
Ownership History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
Aug 20, 2020
Closed on
Sep 4, 2020
Sold by
Bought by
Seller's Agent
Vince Sanchez
Appleby Commercial Real Estate
Buyer's Agent
Cody Charnell
Sage Real Estate Group, Inc.
List Price
$1,250,000
Sold Price
$1,060,000
Premium/Discount to List
-$190,000
-15.2%
Current Estimated Value
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$203,196
Avg. Annual Appreciation
3.07%
Original Mortgage
$825,000
Interest Rate
0.029%
Mortgage Type
Commercial
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Home Values in the Area
Average Home Value in this Area
Purchase History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Buyer | Sale Price | Title Company |
|---|---|---|---|
| $1,060,000 | Old Republic Title |
Source: Public Records
Mortgage History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Status | Borrower | Loan Amount |
|---|---|---|---|
| Closed | $825,000 | ||
| Previous Owner | $160,000 | ||
| Previous Owner | $315,000 | ||
| Previous Owner | $90,000 |
Source: Public Records
Property History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 10/09/2020 10/09/20 | Sold | $1,060,000 | -15.2% | $235 / Sq Ft |
| 09/02/2020 09/02/20 | Pending | -- | -- | -- |
| 08/20/2020 08/20/20 | For Sale | $1,250,000 | -- | $277 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
Tax History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| 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 | $15,698 | $1,147,376 | $368,026 | $779,350 |
| 2024 | $14,993 | $1,124,879 | $360,810 | $764,069 |
| 2023 | $14,736 | $1,102,824 | $353,736 | $749,088 |
| 2022 | $13,837 | $1,081,200 | $346,800 | $734,400 |
| 2021 | $13,543 | $1,060,000 | $340,000 | $720,000 |
| 2020 | $1,805 | $74,305 | $20,040 | $54,265 |
| 2019 | $1,785 | $72,849 | $19,648 | $53,201 |
| 2018 | $1,703 | $71,421 | $19,263 | $52,158 |
| 2016 | $1,548 | $68,650 | $18,516 | $50,134 |
| 2015 | $1,505 | $67,619 | $18,238 | $49,381 |
| 2014 | $1,506 | $66,295 | $17,881 | $48,414 |
Source: Public Records
Agents Affiliated with this Home
-
Vince Sanchez
-
Cody Charnell
Buyer's Agent in 2020
Cody Charnell
Sage Real Estate Group, Inc.
(562) 896-3851
3 in this area
53 Total Sales
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: PW20168962
APN: 7281-006-036
Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.
The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
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