NOT LISTED FOR SALE

426 E 17th St Long Beach, CA 90813

Central Neighborhood
1 Bed
2 Baths
4,320 Sq Ft
7,425 Sq Ft Lot

Last Sold November 01, 2022

Last sale price $1,595,000 $369 Per Sq Ft

133 Days on Market

Highlights

  • Laundry Room
  • Long Beach Polytechnic High School Rated A
  • 5-minute walk to Pacific Coast Highway Station

About This Home

As of November 2022

426 E. 17th Street is a value-add investment asset located in Long Beach with seven units plus one non-conforming unit. The courtyard-style property with gated entrance offers a unit mix consisting of (4) 1 BD/1 BA and (4) studios.There is onsite laundry and two garages on the property providing additional income. Utilities are separately metered with in place RUBS program. The property is conveniently located within walking distance to public transportation along Long Beach Boulevard, which runs to Downtown Long Beach, and nearby to PCH, providing easy access to the 710 freeway. 426 E. 17th Street presents a new buyer with the opportunity to increase existing below-market rents. There is additional value add potential in permitting the non-conforming unit, which already is separately metered for gas and electric.

Last Agent to Sell the Property

Robert Stepp

Keller Williams Realty Downey License #01456379 Listed on: 06/20/2022

Keller Williams Realty Downey

Co-Listed By

John Alden

Alden Pacific Investments, Inc. License #02114291

Last Buyer's Agent

John Alden

Alden Pacific Investments, Inc. License #02114291

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1923

Lot Details

  • 7,425 Sq Ft Lot
  • Two or More Common Walls
  • Density is 6-10 Units/Acre

Parking

  • 2 Car Garage

Home Design

  • 4,320 Sq Ft Home
  • Apartment

Bedrooms and Bathrooms

  • 1 Bedroom
  • 2 Bathrooms

Additional Features

  • Laundry Room
  • Urban Location

Listing and Financial Details

  • Tax Lot 21
  • Tax Tract Number 5753
  • Assessor Parcel Number 7269022021

Community Details

Overview

  • 3 Buildings
  • 7 Units
  • Wrigley Area Subdivision

Amenities

  • Laundry Facilities

Building Details

  • Rent Control
  • 8 Separate Electric Meters
  • 8 Separate Gas Meters
  • 1 Separate Water Meter
  • Electric Expense $786
  • Fuel Expense $786
  • Gardener Expense $938
  • Insurance Expense $3,320
  • Maintenance Expense $4,400
  • Other Expense $1,600
  • Pest Control $370
  • Professional Management Expense $6,617
  • Trash Expense $786
  • Water Sewer Expense $786
  • New Taxes Expense $20,353
  • Operating Expense $41,442
  • Gross Income $132,332
  • Net Operating Income $90,890

Property Details

Home Type

Multi-Family

Year Built

Built in 1923

Lot Details

0

Parking

2

Listing Details

  • CapRate: 4.46
  • Price Per Unit: 227857
  • Professional Management Expense: 6617.00
  • Property Attached: Yes
  • Subdivision Name Other: Wrigley Area (WR)
  • Water Sewer Expenses: 786.00
  • Zoning: LBPD29
  • Property Type: Residential Income
  • Gardener Expense: 938.00
  • Parcel Number: 7269022021
  • Year Built: 1923
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Common Walls: 2+ Common Walls
  • Price Per Square Foot: 369.21

Exterior Features

  • Pool Private: No

Garage/Parking

  • Garage Spaces: 2.00
  • Total Parking Spaces: 2.00

Utilities

  • Laundry: Yes
  • Laundry Features: Common Area
  • Pest Control Expense: 370.00
  • Sewer: Public Sewer
  • Trash Expense: 786.00
  • Water Source: Public

Condo/Co-op/Association

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

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: 6-10 Units/Acre
  • Lot Size Sq Ft: 7425.00
  • Lot Size Acres: 0.1705

Rental Info

  • Garage Rental Rate: 100.00

Multi Family

  • Electric Expense: 786.00
  • Fuel Expense: 786.00
  • Garage Income: 1200.00
  • Gross Income: 132332.00
  • Gross Scheduled Income: 139297.00
  • Insurance Expense: 3320.00
  • Laundry Income: 535.00
  • Lot Size Area: 7425.0000 Square Feet
  • Maintenance Expense: 4400.00
  • Net Operating Income: 90890.00
  • Number Of Rented Garages: 1
  • Number Of Separate Electric Meters: 8
  • Number Of Separate Gas Meters: 8
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 7
  • Operating Expense: 41442.00
  • Other Expense: 1600.00
  • Other Expense Description: Reserves
  • Other Income1: 198.00
  • Other Income Description: RUBS
  • Rent Control: Yes
  • Total Expenses: 41442.00

Tax Info

  • New Taxes Expense: 20353.00
  • Tax Census Tract: 5753.00
  • Tax Lot: 21
  • Tax Tract Number: 5753

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
11/01/2022 11/01/22 Sold $1,595,000 0.0% $369 / Sq Ft
10/31/2022 10/31/22 Pending -- -- --
08/31/2022 08/31/22 Price Changed $1,595,000 -5.9% $369 / Sq Ft
07/13/2022 07/13/22 Price Changed $1,695,000 -3.1% $392 / Sq Ft
06/20/2022 06/20/22 For Sale $1,750,000 -- $405 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Robert Stepp

    Seller's Agent in 2022

    Robert Stepp

    Keller Williams Realty Downey

    (310) 804-5079

    2 in this area

    71 Total Sales

    Robert Stepp
    Section Image

  • J

    Seller Co-Listing Agent in 2022

    John Alden

    Alden Pacific Investments, Inc.

    (310) 982-7055

    3 in this area

    20 Total Sales

    Section Image
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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PW22133767

California Regional Multiple Listing Service (CRMLS)

California Los Angeles County Long Beach 90813 Central

426 E 17th St, Long Beach, CA

This home is located at 426 E 17th St, Long Beach, CA 90813 since 20 June 2022. This property was built in 1923. 426 E 17th St is a home located in Los Angeles County with nearby schools including Roosevelt Elementary School, Washington Middle School, and Long Beach Polytechnic 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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