Seller's Agent in 2016
Patrick Swanson
Pat Swanson
(213) 864-2862
4 in this area
55 Total Sales
429 Walnut Ave Long Beach, CA 90802
North Alamitos Beach NeighborhoodEstimated Value: $1,678,107 - $1,772,000
3
Beds
3
Baths
3,732
Sq Ft
$462/Sq Ft
Est. Value
Highlights
- 6,925 Sq Ft lot
- Laundry Room
- 1-minute walk to Miracle On Fourth Street Park
- Long Beach Polytechnic High School Rated A
About This Home
As of August 2016100% remodeled 6 unit apartment complex located in the heart of Retro Row on 4th Street in Long Beach, CA. The property features a fourplex up front which consists of Four - larger 1 Bed / 1 Bath units and a duplex in the back, comprised of Two – 1 Bed / 1 Bath units. Current ownership has spent over $200,000 in recent improvements. Recent upgrades include, but are not limited to new hardwood flooring, completely remodeled kitchens and appliances, bathroom tiling, copper plumbing, upgraded electrical, and washer/dryer in every unit. Tenants enjoy on-site garage parking, fully renovated units, and a fantastic central Long Beach location close shopping, restaurants, and amenities. Current 5.13% Cap Rate and Pro Forma 6.02% Cap Rate.
Last Buyer's Agent
Michael Gelfond
Bedford Properties License #01373686
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $22,481
Year Built
- Built in 1919
Lot Details
- 6,925 Sq Ft Lot
- Property fronts an alley
- No Common Walls
Parking
- 3 Car Garage
Home Design
- 3,732 Sq Ft Home
Bedrooms and Bathrooms
- 3 Bedrooms
- 3 Bathrooms
Laundry
- Laundry Room
- Washer and Gas Dryer Hookup
Outdoor Features
- Exterior Lighting
Listing and Financial Details
- Tenant pays for electricity, gas
- Tax Lot 11
- Tax Tract Number 5765
- Assessor Parcel Number 7266018016
Community Details
Overview
- 2 Buildings
- 6 Units
Building Details
- 6 Separate Electric Meters
- 6 Separate Gas Meters
- 1 Separate Water Meter
- Electric Expense $600
- Gardener Expense $600
- Insurance Expense $1,500
- Maintenance Expense $4,500
- Pest Control $720
- Water Sewer Expense $2,100
- New Taxes Expense $14,502
- Gross Income $7,670
- Net Operating Income $61,467
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Closed on
Mar 31, 2022
Sold by
Scott Robertson Jeffrey and Scott Louise
Bought by
Le Buchanan Investments Llc
Current Estimated Value
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,620,000
Interest Rate
3.85%
Mortgage Type
New Conventional
Purchase Details
Closed on
May 26, 2016
Sold by
Murphy Mayer Alan and Murphy Mayer Marcela
Bought by
Robertson Jeffrey Scott and Robertson Louise
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$700,000
Interest Rate
3.48%
Mortgage Type
Commercial
Purchase Details
Closed on
Feb 28, 2015
Sold by
Hyink Cynthia C and Hyink Family Trust
Bought by
Mayer Family Trust
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$487,500
Interest Rate
4.05%
Mortgage Type
Future Advance Clause Open End Mortgage
Purchase Details
Closed on
May 23, 2005
Sold by
Hyink William R and Hyink Cynthia C
Bought by
Hyink William R and Hyink Cynthia C
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$282,000
Interest Rate
5.72%
Mortgage Type
Commercial
Purchase Details
Closed on
Jun 7, 2004
Sold by
Orozco Manuel and Orozco Barbara J
Bought by
Hyink William R and Hyink Cynthia C
Purchase Details
Closed on
Feb 28, 2001
Sold by
Hyink William R and Hyink Cynthia C
Bought by
Hyink William R and Hyink Cynthia C
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area
Home Values in the Area
Average Home Value in this Area
Purchase History
| Date | Buyer | Sale Price | Title Company |
|---|---|---|---|
| Le Buchanan Investments Llc | $1,650,000 | First American Title Company O | |
| Robertson Jeffrey Scott | $1,265,000 | Ticor Title | |
| Mayer Family Trust | $650,000 | Commonwealth Land Title Co | |
| Hyink William R | -- | -- | |
| Hyink William R | -- | United Title Company | |
| Hyink William R | -- | -- | |
| Hyink William R | -- | -- |
Source: Public Records
Mortgage History
| Date | Status | Borrower | Loan Amount |
|---|---|---|---|
| Closed | Le Buchanan Investments Llc | $1,591,000 | |
| Closed | Le Buchanan Investments Llc | $1,620,000 | |
| Closed | Le Buchanan Investments Llc | $1,620,000 | |
| Previous Owner | Robertson Jeffrey Scott | $700,000 | |
| Previous Owner | Mayer Family Trust | $487,500 | |
| Previous Owner | Hyink William R | $282,000 |
Source: Public Records
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 08/10/2016 08/10/16 | Sold | $1,265,000 | +5.5% | $339 / Sq Ft |
| 05/25/2016 05/25/16 | Pending | -- | -- | -- |
| 05/16/2016 05/16/16 | For Sale | $1,199,000 | +84.5% | $321 / Sq Ft |
| 08/26/2015 08/26/15 | Sold | $650,000 | -12.8% | $174 / Sq Ft |
| 07/27/2015 07/27/15 | Pending | -- | -- | -- |
| 05/04/2015 05/04/15 | For Sale | $745,000 | -- | $200 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
Tax History Compared to Growth
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 | $22,481 | $1,750,992 | $1,135,492 | $615,500 |
| 2024 | $22,481 | $1,716,660 | $1,113,228 | $603,432 |
| 2023 | $22,100 | $1,683,000 | $1,091,400 | $591,600 |
| 2022 | $17,573 | $1,383,459 | $967,875 | $415,584 |
| 2021 | $17,216 | $1,356,334 | $948,898 | $407,436 |
| 2019 | $16,971 | $1,316,826 | $920,754 | $396,072 |
| 2018 | $16,507 | $1,291,020 | $902,700 | $388,320 |
| 2017 | $16,333 | $1,265,000 | $885,000 | $380,000 |
| 2016 | $8,368 | $650,000 | $455,000 | $195,000 |
| 2015 | $5,925 | $451,913 | $216,496 | $235,417 |
| 2014 | $5,914 | $443,062 | $212,256 | $230,806 |
Source: Public Records
Agents Affiliated with this Home
-
Patrick Swanson
-
M
Buyer's Agent in 2016
Michael Gelfond
Bedford Properties
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: OC16104911
APN: 7266-018-016
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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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