NOT LISTED FOR SALE

Estimated Value: $1,257,000 - $1,616,000

8 Beds
4 Baths
3,024 Sq Ft
$475/Sq Ft Est. Value

Last Sold January 20, 2017

Last sale price $935,000 $309 Per Sq Ft

Est. 54% increase in value since last sale

Current estimated payment $8,606/month

7 Days on Market

Highlights

  • Traditional Architecture
  • Bamboo Flooring
  • Living Room
  • Los Cerritos Elementary School Rated A
  • No HOA
  • Laundry Room

About This Home

As of January 2017

Residential 4-plex in the heart of Bixby Knolls in Long Beach. This building is co-located with 60+ similar 4-plex buildings between Long Beach Blvd and Atlantic, just north of San Antonio, a short walk from the Atlantic Ave business corridor, Trader Joe’s, Starbucks, and more. Minutes from the 405 and 710 freeways. All four units have 2 bedrooms and 1 bath. Each unit has front and rear entrances and are each separately metered for gas and electricity. A separate garage building has two double garages. Tenants enjoy a distinctly open outdoor experience in this community as all of the buildings have generous front and rear yards with an abundance of mature trees.

Last Agent to Sell the Property

Chet Johnston

Chet Johnston License #01452092 Listed on: 11/28/2016

Last Buyer's Agent

Nina Mannone

Realty One Group West License #01851852

Realty One Group West

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1945

Lot Details

  • 6,349 Sq Ft Lot
  • Two or More Common Walls
  • South Facing Home
  • Wood Fence
  • Chain Link Fence
  • Level Lot
  • Back and Front Yard

Parking

  • 4 Car Garage
  • Parking Available

Home Design

  • Traditional Architecture
  • Property Attached
  • Composition Roof
  • Partial Copper Plumbing
  • Stucco

Interior Spaces

  • 3,024 Sq Ft Home
  • 2-Story Property
  • Living Room

Kitchen

  • Gas Cooktop
  • Dishwasher

Flooring

  • Bamboo
  • Wood
  • Carpet
  • Stone
  • Tile

Bedrooms and Bathrooms

  • 8 Bedrooms
  • 4 Bathrooms

Laundry

  • Laundry Room
  • Laundry Located Outside
  • Leased Washer and Dryer

Outdoor Features

  • Exterior Lighting
  • Rain Gutters

Utilities

  • Central Heating
  • Heating System Uses Natural Gas
  • Natural Gas Connected
  • Cable TV Available

Listing and Financial Details

  • Tenant pays for cable TV, electricity, gas, sewer
  • Tax Lot 7
  • Tax Tract Number 13130
  • Assessor Parcel Number 7134019008

Community Details

Overview

  • No Home Owners Association
  • 4 Units

Amenities

  • Laundry Facilities

Building Details

  • 4 Leased Units
  • 4 Separate Electric Meters
  • 4 Separate Gas Meters
  • 1 Separate Water Meter
  • Gardener Expense $1,440
  • Insurance Expense $1,500
  • Maintenance Expense $1,200
  • Pest Control $360
  • Supplies Expense $400
  • Water Sewer Expense $1,020
  • New Taxes Expense $9,680
  • Gross Income $63,600
  • Net Operating Income $47,560

Property Details

Home Type

Multi-Family

Year Built

Built in 1945

Lot Details

0

Parking

4

Listing Details

  • Assessments: Yes
  • CapRate: 5.14
  • Property Attached: Yes
  • Subdivision Name Other: Country Club manor (CCM)
  • Supplies Expense: 400.00
  • View: No
  • Water Sewer Expenses: 1020.00
  • Zoning: LBR3S
  • Architectural Style: Traditional
  • Property Type: Residential Income
  • Gardener Expense: 1440.00
  • Parcel Number: 7134019008
  • Year Built: 1945
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Fireplace: No
  • Interior Amenities: Copper Plumbing Partial
  • Stories: 2
  • Common Walls: 2+ Common Walls
  • Flooring: Bamboo, Carpet, Stone, Tile, Wood
  • Appliances: Yes
  • Levels: Two
  • Price Per Square Foot: 309.19
  • Room Type: Kitchen, Living Room

Exterior Features

  • Direction Faces: South
  • Fence: Yes
  • Fencing: Chain Link, Wood
  • Pool Private: No
  • Roof: Composition
  • Construction Materials: Stucco

Garage/Parking

  • Garage Spaces: 4.00
  • Parking: Yes
  • Parking Features: Garage
  • Total Parking Spaces: 4.00

Utilities

  • Utilities: Cable Connected, Electricity Connected, Natural Gas Connected, Phone Connected, Sewer Connected
  • Heating: Yes
  • Laundry: Yes
  • Appliances: Dishwasher, Gas Cooktop
  • Electric: Standard
  • Heating Type: Central, Natural Gas
  • Laundry Features: Common Area, Outside
  • Pest Control Expense: 360.00
  • Sewer: Public Sewer
  • Water Source: Public

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Community Features: Curbs, Gutters, Sidewalks, Street Lights

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: Back Yard, Front Yard, Level
  • Lot Size Sq Ft: 6349.00

Rental Info

  • Tenant Pays: Cable TV, Electricity, Gas, Sewer

Multi Family

  • Gross Income: 63600.00
  • Gross Multiplier: 14.50
  • Gross Scheduled Income: 63600.00
  • Insurance Expense: 1500.00
  • Laundry Equipment Own Lease: Lease
  • Maintenance Expense: 1200.00
  • Net Operating Income: 47560.00
  • Number Of Separate Electric Meters: 4
  • Number Of Separate Gas Meters: 4
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 4
  • Number Of Units Total: 4
  • Operating Expense: 16040.00
  • Rent Control: No
  • Total Actual Rent: 5300.00

Tax Info

  • New Taxes Expense: 9680.00
  • Tax Census Tract: 5715.02
  • Tax Lot: 7
  • Tax Tract Number: 13130

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Nov 28, 2016
Closed on
Dec 6, 2016
Sold by
Johnston Chet A and Kaehler Tammy G
Bought by
Banks Conrad G and Banks Catherine V
Seller's Agent
Chet Johnston
Chet Johnston
Buyer's Agent
Nina Mannone
Realty One Group West
List Price
$925,000
Sold Price
$935,000
Premium/Discount to List
$10,000
1.08%
Current Estimated Value
$1,436,457

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$501,457
Avg. Annual Appreciation
4.89%
Original Mortgage
$654,500
Outstanding Balance
$538,204
Interest Rate
4.13%
Mortgage Type
New Conventional
Estimated Equity
$898,253

Purchase Details

Closed on
Feb 16, 2005
Sold by
Kelly Joseph C and Kelly Jeanne
Bought by
Johnston Chet A and Kaehler Tammy G

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$610,400
Interest Rate
4.57%
Mortgage Type
Negative Amortization
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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Average Value
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Banks Conrad G $935,000 Ticor Title Company Of Ca
Johnston Chet A $763,000 Fidelity National Title Co
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Banks Conrad G $654,500
Previous Owner Johnston Chet A $610,400
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
01/20/2017 01/20/17 Sold $935,000 +1.1% $309 / Sq Ft
12/05/2016 12/05/16 Pending -- -- --
11/28/2016 11/28/16 For Sale $925,000 -- $306 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

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 $14,027 $1,085,141 $649,924 $435,217
2024 $14,027 $1,063,865 $637,181 $426,684
2023 $13,789 $1,043,006 $624,688 $418,318
2022 $12,946 $1,022,556 $612,440 $410,116
2021 $12,683 $1,002,507 $600,432 $402,075
2019 $12,501 $972,774 $582,624 $390,150
2018 $12,177 $953,700 $571,200 $382,500
2016 $9,680 $785,000 $512,100 $272,900
2015 $9,428 $785,000 $512,100 $272,900
2014 $9,547 $785,000 $512,100 $272,900
Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: SB16754100

California Regional Multiple Listing Service (CRMLS)

APN: 7134-019-008