NOT LISTED FOR SALE
12 Beds
12 Baths
4,872 Sq Ft
4,728 Sq Ft Lot

Last Sold August 06, 2021

Last sale price $2,275,000 $467 Per Sq Ft

214 Days on Market

Highlights

  • Wood Flooring
  • Laundry Room
  • Stacked Washer and Dryer
  • Woodrow Wilson High School Rated A
  • Central Heating

About This Home

As of August 2021

Rare opportunity to acquire a steady 100% rental occupancy (4.44% Cap Rate; value-add with strong occupancy trend), 6-unit townhouse-style 2-bedroom/2-bath units including in-unit washer/dryer built in 1989. Building entrance gate with security camera for enhanced access control and security in a prime Long Beach submarket, and great proximity to Wilson High School and Cal State Long Beach and adjacent to nearby entertainment amenities such as The Hangar at Long Beach Exchange and 2ND & PCH.

Last Agent to Sell the Property

Wan Chun Hsu

Golden Key Realty Corporation License #01149962 Listed on: 09/30/2020

Last Buyer's Agent

Anthony Walker

Buckingham Investments, Inc License #01908153

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1989

Lot Details

  • 4,728 Sq Ft Lot
  • Two or More Common Walls
  • Density is up to 1 Unit/Acre

Home Design

  • 4,872 Sq Ft Home
  • Split Level Home
  • Apartment

Kitchen

  • Gas Cooktop

Flooring

  • Wood
  • Carpet

Bedrooms and Bathrooms

  • 12 Bedrooms
  • All Upper Level Bedrooms
  • 12 Bathrooms

Laundry

  • Laundry Room
  • Laundry in Kitchen
  • Stacked Washer and Dryer

Parking

  • 9 Parking Spaces
  • 9 Carport Spaces
  • Parking Available

Utilities

  • Central Heating
  • Heating System Uses Natural Gas
  • Standard Electricity

Listing and Financial Details

  • Tenant pays for cable TV, electricity, gas, trash collection
  • Tax Lot 47
  • Tax Tract Number 3696
  • Assessor Parcel Number 7241007027

Community Details

Overview

  • 6 Units
  • Eastside Subdivision

Building Details

  • 6 Leased Units
  • 6 Separate Electric Meters
  • 6 Separate Gas Meters
  • 1 Separate Water Meter
  • Electric Expense $600
  • Insurance Expense $2,118
  • Maintenance Expense $3,019
  • Water Sewer Expense $3,000
  • New Taxes Expense $26,319
  • Operating Expense $24,308
  • Gross Income $147,360
  • Net Operating Income $106,667

Property Details

Home Type

Multi-Family

Year Built

Built in 1989

Lot Details

0

Listing Details

  • CapRate: 4.44
  • Property Attached: Yes
  • Subdivision Name Other: Eastside (ES)
  • Water Sewer Expenses: 3000.00
  • Zoning: LBR3S
  • Property Sub Type: Apartment
  • Property Type: Residential Income
  • Parcel Number: 7241007027
  • Year Built: 1989
  • Special Features: None

Interior Features

  • Fireplace: No
  • Interior Amenities: Unfurnished
  • Common Walls: 2+ Common Walls
  • Flooring: Carpet, Wood
  • Appliances: Yes
  • Levels: Multi/Split
  • Price Per Square Foot: 466.95
  • Room Type: All Bedrooms Up

Exterior Features

  • Pool Private: No

Garage/Parking

  • Carport Spaces: 9.00
  • Parking: Yes
  • Parking Features: Carport, Covered
  • Total Parking Spaces: 9.00

Utilities

  • Heating: Yes
  • Laundry: Yes
  • Appliances: Gas Cooktop
  • Electric: Standard
  • Heating Type: Central, Natural Gas
  • Laundry Features: Gas Dryer Hookup, In Kitchen, Inside, Stackable, Washer Included
  • Sewer: Public Sewer
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No
  • Common Interest: Community Apartment
  • Community Features: Sidewalks

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: 0-1 Unit/Acre
  • Lot Size Sq Ft: 4728.00
  • Lot Size Acres: 0.1085

Rental Info

  • Tenant Pays: Cable TV, Electricity, Gas, Trash Collection

Multi Family

  • Average2 Bed Area: 800 Square Feet
  • Electric Expense: 600.00
  • Gross Income: 147360.00
  • Gross Scheduled Income: 147360.00
  • Insurance Expense: 2118.00
  • Lot Size Area: 4728.0000 Square Feet
  • Maintenance Expense: 3019.00
  • Net Operating Income: 106667.00
  • Number Of Separate Electric Meters: 6
  • Number Of Separate Gas Meters: 6
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 6
  • Number Of Units Total: 6
  • Operating Expense: 24308.30
  • Rent Control: No
  • Total Actual Rent: 12280.00
  • Total Expenses: 24308.00

Tax Info

  • New Taxes Expense: 26319.00
  • Tax Census Tract: 5770.00
  • Tax Lot: 47
  • Tax Tract Number: 3696
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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 Prior Sale
08/06/2021 08/06/21 Sold $2,275,000 -5.2% $467 / Sq Ft
09/30/2020 09/30/20 For Sale $2,400,000 +88.2% $493 / Sq Ft
03/15/2013 03/15/13 Sold $1,275,000 -5.3% $262 / Sq Ft View Prior Sale
01/09/2013 01/09/13 Pending -- -- --
12/20/2012 12/20/12 For Sale $1,345,987 -- $276 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

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 $31,960 $2,414,247 $1,570,587 $843,660
2024 $30,571 $2,366,910 $1,539,792 $827,118
2023 $30,057 $2,320,500 $1,509,600 $810,900
2022 $28,198 $2,275,000 $1,480,000 $795,000
2021 $25,626 $2,061,134 $1,442,794 $618,340
2020 $25,560 $2,040,000 $1,428,000 $612,000
2019 $25,259 $2,000,000 $1,400,000 $600,000
2018 $17,625 $1,379,877 $963,210 $416,667
2016 $16,207 $1,326,297 $925,808 $400,489
2015 $15,558 $1,306,376 $911,902 $394,474
2014 $15,458 $1,280,787 $894,040 $386,747
Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: TR20199381

California Regional Multiple Listing Service (CRMLS)