NOT LISTED FOR SALE

424 W 9th St Long Beach, CA 90813

Willmore Neighborhood
5 Beds
8 Baths
3,724 Sq Ft
4,106 Sq Ft Lot

Last Sold July 21, 2022

Last sale price $1,577,000 $423 Per Sq Ft

6 Days on Market

About This Home

As of July 2022

424 W 9th St is located in the Heart of Downtown Long Beach, this is a great opportunity to own an 8 unit property with stable income and at least 10% upside in rents. The surrounding area is currently being heavily developed with an estimated $3.5 billion currently under construction. This is a great opportunity to own near the historic Willmore District with a fresh look to appeal to the young professionals flooding to Downtown's hip revival. 424 9th St comes with a mixture of hardwood floors, high ceilings, a sun-deck, granite countertops, and vintage built-in cabinets. The property consists of 2 buildings on a grassy 4,105 sq ft lot with (5) 1-bed/1-bath units and (3) studios.

Last Agent to Sell the Property

Stephen Takahashi

Lyon Stahl Investment Real Estate, Inc. License #01944770 Listed on: 05/05/2022

Lyon Stahl Investment Real Estate, Inc.

Co-Listed By

Johnnie Stiegler

Lyon Stahl Investment Real Estate, Inc. License #01981597

Last Buyer's Agent

Vincent Cook

Kidder Mathews of California, Inc License #02012324

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1921

Lot Details

  • 4,106 Sq Ft Lot
  • Two or More Common Walls
  • Density is up to 1 Unit/Acre

Home Design

  • 3,724 Sq Ft Home
  • Property Attached

Bedrooms and Bathrooms

  • 5 Bedrooms
  • 8 Bathrooms

Listing and Financial Details

  • Legal Lot and Block 2 / 13
  • Tax Tract Number 4119
  • Assessor Parcel Number 7272015016

Community Details

Overview

  • 3 Buildings
  • 8 Units
  • Willmore District Subdivision

Building Details

  • 8 Leased Units
  • Rent Control
  • 6 Separate Electric Meters
  • 6 Separate Gas Meters
  • 1 Separate Water Meter
  • Electric Expense $1,600
  • Fuel Expense $1,600
  • Insurance Expense $1,146
  • Professional Management Expense $6,045
  • Trash Expense $1,600
  • Water Sewer Expense $1,600
  • Operating Expense $40,298
  • Net Operating Income $74,557

Property Details

Home Type

Multi-Family

Year Built

Built in 1921

Lot Details

0

Listing Details

  • CapRate: 4.81
  • Price Per Unit: 193750
  • Professional Management Expense: 6045.00
  • Property Attached: Yes
  • Subdivision Name Other: Willmore District (WM)
  • Water Sewer Expenses: 1600.00
  • Zoning: LBPD10
  • Property Type: Residential Income
  • Parcel Number: 7272015016
  • Year Built: 1921
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Common Walls: 2+ Common Walls
  • Price Per Square Foot: 423.47

Exterior Features

  • Pool Private: No

Utilities

  • Laundry: No
  • Sewer: Public Sewer
  • Trash Expense: 1600.00
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No
  • Community Features: Sidewalks

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: 0-1 Unit/Acre
  • Lot Size Sq Ft: 4106.00
  • Lot Size Acres: 0.0943

Multi Family

  • Electric Expense: 1600.00
  • Fuel Expense: 1600.00
  • Gross Multiplier: 12.82
  • Gross Scheduled Income: 120900.00
  • Insurance Expense: 1146.00
  • Lot Size Area: 4106.0000 Square Feet
  • Net Operating Income: 74557.00
  • Number Of Separate Electric Meters: 6
  • Number Of Separate Gas Meters: 6
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 8
  • Number Of Units Total: 8
  • Operating Expense: 40298.00
  • Rent Control: Yes
  • Total Actual Rent: 10075.00
  • Total Expenses: 40298.00
  • Vacancy Allowance Rate: 5.00

Tax Info

  • Tax Block: 13
  • Tax Census Tract: 5758.02
  • Tax Lot: 2
  • Tax Tract Number: 4119

Range of Values:

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Sold Price
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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
07/21/2022 07/21/22 Sold $1,577,000 +1.7% $423 / Sq Ft
05/11/2022 05/11/22 Pending -- -- --
05/05/2022 05/05/22 For Sale $1,550,000 +10.7% $416 / Sq Ft
03/21/2019 03/21/19 Sold $1,400,000 0.0% $379 / Sq Ft
11/29/2018 11/29/18 Off Market $1,400,000 -- --
10/19/2018 10/19/18 For Sale $1,395,000 -- $378 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Stephen Takahashi

    Seller's Agent in 2022

    Stephen Takahashi

    Lyon Stahl Investment Real Estate, Inc.

    (310) 403-9145

    1 in this area

    93 Total Sales

    Stephen Takahashi
    Section Image
  • Johnnie Stiegler

    Seller Co-Listing Agent in 2022

    Johnnie Stiegler

    Lyon Stahl Investment Real Estate, Inc.

    (310) 606-0939

    1 in this area

    88 Total Sales

    Johnnie Stiegler
    Section Image
  • Vincent Cook

    Buyer's Agent in 2022

    Vincent Cook

    Kidder Mathews of California, Inc

    (310) 982-7055

    1 in this area

    11 Total Sales

    Vincent Cook
    Section Image
  • Cameron Samimi

    Seller's Agent in 2019

    Cameron Samimi

    Lyon Stahl Investment Real Estate, Inc.

    (310) 259-7556

    2 in this area

    176 Total Sales

    Cameron Samimi
    Section Image
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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: SB22093595

California Regional Multiple Listing Service (CRMLS)

California Los Angeles County Long Beach 90813 Willmore

424 W 9th St, Long Beach, CA

This home is located at 424 W 9th St, Long Beach, CA 90813 since 05 May 2022. This property was built in 1921. 424 W 9th St is a home located in Los Angeles County with nearby schools including Edison Elementary School, Washington Middle School, and Juan Rodriguez Cabrillo High School.

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.

California Regional Multiple Listing Service (CRMLS) 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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