NOT LISTED FOR SALE
5 Beds
4 Baths
8,672 Sq Ft
0.41 Acres

Last Sold December 09, 2019

Last sale price $3,800,000 $438 Per Sq Ft

209 Days on Market

Highlights

  • Golf Course Community
  • 0.41 Acre Lot
  • Wood Flooring
  • Long Beach Polytechnic High School Rated A
  • Cape Cod Architecture
  • No HOA

About This Home

As of December 2019

420 Orange is a sensational, fully rehabbed, turnkey, 11 unit, value add, apartment building:
Large open floor plans, Oak hardwood flooring, classic kitchen & bathroom tile, original crown moldings throughout,
deep built in closets, vintage cabinetry, each unit is individually metered with newer electrical/electrical panel,
EQ retrofit. Laundry room, 11 garages, 26 total parking spaces, a rare find in this heavily impacted parking area. With a
highly desirable unit mix (7, two beds & 4, one beds) and exquisite design, this building is a must for any investors
portfolio. Located in the highly sought after neighborhood of Alamitos Beach. Alamitos Beach is arguably the fastest
growing neighborhood in Long Beach due to Its close proximity to the best of what Long Beach has to offer. Nestled
alongside the Ocean, and neatly positioned between Belmont shore and Downtown. This location makes for a short
walk or drive to restaurants, coffee shops, clothing stores, the arts district/art studios, entertainment, the metro and
much more.

Last Agent to Sell the Property

Cameron Jacques

Kinnery's Brokerage House License #01852032 Listed on: 03/26/2019

Last Buyer's Agent

Michael Abdel-Sayed

Seven Gables Real Estate License #01887728

Seven Gables Real Estate

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1927

Lot Details

  • 0.41 Acre Lot
  • Two or More Common Walls
  • Wood Fence
  • Landscaped
  • Rectangular Lot
  • Paved or Partially Paved Lot
  • Level Lot
  • Garden

Parking

  • 15 Open Parking Spaces
  • 11 Car Garage

Home Design

  • Cape Cod Architecture
  • Property Attached
  • Turnkey
  • Raised Foundation
  • Composition Roof

Interior Spaces

  • 8,672 Sq Ft Home
  • 2-Story Property
  • Wood Flooring
  • Neighborhood Views
  • Laundry Room

Bedrooms and Bathrooms

  • 5 Bedrooms
  • 4 Bathrooms

Accessible Home Design

  • Accessible Parking

Outdoor Features

  • Exterior Lighting
  • Rain Gutters

Location

  • Urban Location
  • Suburban Location

Utilities

  • Wall Furnace
  • Natural Gas Connected
  • Phone Available

Listing and Financial Details

  • Tax Lot 5
  • Tax Tract Number 5765
  • Assessor Parcel Number 7266014004

Community Details

Overview

  • No Home Owners Association
  • 11 Units

Recreation

  • Golf Course Community
  • Park
  • Bike Trail

Building Details

  • 11 Separate Electric Meters
  • 11 Separate Gas Meters
  • 1 Separate Water Meter
  • Operating Expense $80,580
  • Gross Income $272,556
  • Net Operating Income $183,910

Property Details

Home Type

Multi-Family

Year Built

Built in 1927

Lot Details

0

Parking

11

Listing Details

  • CapRate: 4.72
  • Other Phone Description: 310-490-8134
  • Property Attached: Yes
  • Road Frontage Type: City Street
  • Road Surface Type: Paved
  • Subdivision Name Other: Alamitos Beach (AB)
  • View: Yes
  • Zoning: LBR3T
  • Architectural Style: Cape Cod
  • Property Condition: Turnkey
  • Property Type: Residential Income
  • Parcel Number: 7266014004
  • Year Built: 1927
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Fireplace: No
  • Stories: 2
  • Common Walls: 2+ Common Walls
  • Flooring: Wood
  • Accessibility Features: Parking
  • Levels: Two
  • Price Per Square Foot: 438.19

Exterior Features

  • Foundation: Raised
  • View: Neighborhood
  • Fence: Yes
  • Fencing: Wood
  • Pool Private: No
  • Roof: Composition

Garage/Parking

  • Garage Spaces: 11.00
  • Total Parking Spaces: 26.00
  • Uncovered Spaces: 15.00

Utilities

  • Utilities: Electricity Connected, Natural Gas Connected, Phone Available, Sewer Connected, Water Connected
  • Heating: Yes
  • Laundry: Yes
  • Heating Type: Wall Furnace
  • Sewer: Public Sewer
  • Water Source: Public

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Community Features: Biking, Curbs, Golf, Gutters, Park, Sidewalks, Street Lights, Suburban, Urban

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: Garden, Landscaped, Level with Street, Rectangular Lot, Paved, Walkstreet
  • Lot Size: 300-50-150-20-150-69
  • Lot Size Sq Ft: 17940.00
  • Lot Size Acres: 0.4118

Multi Family

  • Average1 Bed Area: 680 Square Feet
  • Average2 Bed Area: 770 Square Feet
  • Gross Income: 272556.00
  • Gross Multiplier: 14.31
  • Gross Operating Income: 264490.00
  • Gross Scheduled Income: 272556.00
  • Laundry Income: 3696.00
  • Lot Size Area: 17940.0000 Square Feet
  • Net Operating Income: 183910.00
  • Number Of Separate Electric Meters: 11
  • Number Of Separate Gas Meters: 11
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 11
  • Operating Expense: 80580.00
  • Rent Control: No
  • Total Expenses: 80580.00
  • Vacancy Allowance: 8066
  • Vacancy Allowance Rate: 3.00

Tax Info

  • Tax Census Tract: 5765.02
  • Tax Lot: 5
  • Tax Tract Number: 5765.0

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 Change Sq Ft Price
12/09/2019 12/09/19 Sold $3,800,000 -2.5% $438 / Sq Ft
09/20/2019 09/20/19 Price Changed $3,899,000 -2.5% $450 / Sq Ft
07/23/2019 07/23/19 Price Changed $3,999,000 -1.2% $461 / Sq Ft
07/22/2019 07/22/19 Price Changed $4,049,000 -1.1% $467 / Sq Ft
05/20/2019 05/20/19 Price Changed $4,095,000 -2.4% $472 / Sq Ft
03/26/2019 03/26/19 For Sale $4,195,000 +51.2% $484 / Sq Ft
04/29/2018 04/29/18 Sold $2,775,000 -7.5% $320 / Sq Ft
04/03/2018 04/03/18 For Sale $3,000,000 +15.4% $346 / Sq Ft
10/27/2015 10/27/15 Sold $2,600,000 -3.7% $262 / Sq Ft
07/31/2015 07/31/15 Pending -- -- --
07/27/2015 07/27/15 For Sale $2,700,000 -- $272 / 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: PW19066833

California Regional Multiple Listing Service (CRMLS)