NOT LISTED FOR SALE

429 Walnut Ave Long Beach, CA 90802

North Alamitos Beach Neighborhood

Estimated Value: $1,471,000 - $1,600,368

3 Beds
3 Baths
3,732 Sq Ft
$411/Sq Ft Est. Value

Sale Details

Date Sold: August 10, 2016

Last sale price $1,265,000 $339 Per Sq Ft

Est. 21% increase in value since last sale

Current estimated payment $10,320 / mo

9 Days on Market

About This Home

As of August 2016

100% 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 Agent to Sell the Property

Pat Swanson

Pat Swanson License #01382974 Listed on: 05/16/2016

Last Buyer's Agent

Michael Gelfond

Bedford Properties License #01373686

Property Details

Home Type

  • Multi-Family

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 in unit
  • 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

Property Details

Home Type

Multi-Family

Year Built

Built in 1919

Lot Details

6,925 Sq Ft Lot

Parking

3

Listing Details

  • Assessments: Yes
  • CapRate: 5.13
  • Property Attached: No
  • Road Frontage Type: Alley
  • Subdivision Name Other: Alamitos Beach (AB)
  • Water Sewer Expenses: 2100.00
  • Property Type: Residential Income
  • Gardener Expense: 600.00
  • Parcel Number: 7266018016
  • Year Built: 1919
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Common Walls: No Common Walls
  • Price Per Square Foot: 338.96

Exterior Features

  • Pool Private: No

Garage/Parking

  • Garage Spaces: 3.00
  • Total Parking Spaces: 9.00

Utilities

  • Utilities: Sewer Available
  • Laundry: Yes
  • Laundry Features: Gas Dryer Hookup, Washer Hookup
  • Pest Control Expense: 720.00
  • Water Source: Public

Condo/Co-op/Association

  • Community Features: Curbs, Sidewalks, Street Lights

Lot Info

  • Land Lease: No
  • Lot Size Sq Ft: 6925.00
  • Price Per Lot Square Foot: 182.67

Rental Info

  • Tenant Pays: Electricity, Gas

Multi Family

  • Average1 Bed Area: 622
  • Electric Expense: 600.00
  • Gross Income: 7670.00
  • Gross Multiplier: 13.03
  • Gross Scheduled Income: 92040.00
  • Insurance Expense: 1500.00
  • Maintenance Expense: 4500.00
  • Net Operating Income: 61467.00
  • Number Of Separate Electric Meters: 6
  • Number Of Separate Gas Meters: 6
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 6
  • Operating Expense: 27812.00
  • Rent Control: No
  • Vacancy Allowance Rate: 3.00

Tax Info

  • New Taxes Expense: 14502.00
  • Tax Lot: 11
  • Tax Rate: 1.14
  • Tax Tract Number: 5765
  • Tax Year: 2016

Ownership History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Name Owned For Owner Type

Purchase Details

Closed on
Mar 31, 2022
Sold by
Bought by
Current Estimated Value
$1,535,684

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
0.0385%
Mortgage Type
New Conventional

Purchase Details

Closed on
May 26, 2016
Sold by
Bought by

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
0.0348%
Mortgage Type
Commercial

Purchase Details

Closed on
Feb 28, 2015
Sold by
Bought by

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
0.0405%
Mortgage Type
Future Advance Clause Open End Mortgage

Purchase Details

Closed on
May 23, 2005
Sold by
Bought by

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
0.0572%
Mortgage Type
Commercial

Purchase Details

Closed on
Jun 7, 2004
Sold by
Bought by

Purchase Details

Closed on
Feb 28, 2001
Sold by
Bought by
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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Average Value
Not Available
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

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Buyer Sale Price Title Company
$1,650,000 First American Title Company O
$1,265,000 Ticor Title
$650,000 Commonwealth Land Title Co
-- United Title Company
-- --
-- --
-- --
Source: Public Records

Mortgage History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Status Borrower Loan Amount
Open $1,305,000
Closed $1,591,000
Closed $1,620,000
Previous Owner $700,000
Previous Owner $487,500
Previous Owner $282,000
Source: Public Records

Property History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Event Price List to Sale Price per Sq Ft Prior Sale
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 View Prior Sale
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

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

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 $23,729 $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

  • Pat Swanson

    Seller's Agent in 2016

    Pat Swanson

    Pat Swanson

    (213) 864-2862

    4 in this area

    55 Total Sales

    Pat Swanson
    Section Image

  • M

    Buyer's Agent in 2016

    Michael Gelfond

    Bedford Properties

See All Agents

Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: OC16104911

California Regional Multiple Listing Service (CRMLS)

APN: 7266-018-016

California Los Angeles County Long Beach 90802 North Alamitos Beach

429 Walnut Ave, Long Beach, CA

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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