NOT LISTED FOR SALE

431 E 6th St Long Beach, CA 90802

East Village Neighborhood
3 Beds
4 Baths
20,981 Sq Ft
0.33 Acres

Last Sold April 04, 2016

Last sale price $9,800,000 $467 Per Sq Ft

78 Days on Market

Highlights

  • Fitness Center
  • 3-minute walk to 5Th Street Station
  • City Lights View
  • Long Beach Polytechnic High School Rated A
  • Newly Remodeled
  • 0.33 Acre Lot

About This Home

As of April 2016

Completed in October of 2015, the Sixth Street Lofts is a 30-unit four-story modern apartment building located in the trendy East Village Arts District in the heart of downtown Long Beach. Currently in lease-up, this property has an excellent unit mix of 9 large Studio units, 15 large 1BR/1BA units, and 6 2BR/2BA units. The units themselves are very impressive with open floorplans, 10-foot ceilings, wood-style plank flooring, luxurious cherry cabinets, designer-appointed granite countertops, walk-in closets, extra storage, individual balconies, central A/C and a complete appliance package that includes a full-sized washer/dryer. Many of the units have outstanding city views as well.

The Sixth Street Lofts offer modern amenities to tenants not always associated with 30-unit buildings. Securitized garage parking offers tenants 42 garage spaces. There is an entertainment lounge available for the tenants and a rooftop deck with a fireplace and great city skyline views. Tenants also have access to a 24-hour fitness room and plentiful bicycle storage. An elevator serves the building, and complimentary Wi-Fi is offered in the common areas. Tenants who work outside of Long Beach can walk to the Metro Blue Line rail system, which is only blocks away.

Last Agent to Sell the Property

Matthew Wenzel

Marcus & Millichap License #01198357 Listed on: 11/05/2015

Last Buyer's Agent

NoEmail NoEmail

NONMEMBER MRML

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 2015 | Newly Remodeled

Lot Details

  • 0.33 Acre Lot
  • Lot Dimensions are 100' x 150'
  • Two or More Common Walls

Parking

  • 42 Car Garage
  • Parking Available
  • Assigned Parking
  • Community Parking Structure

Home Design

  • Modern Architecture
  • Property Attached

Interior Spaces

  • 20,981 Sq Ft Home
  • 4-Story Property
  • Open Floorplan
  • High Ceiling
  • City Lights Views

Bedrooms and Bathrooms

  • 3 Bedrooms
  • 4 Bathrooms

Laundry

  • Laundry Room
  • Dryer
  • Washer

Additional Features

  • Urban Location
  • Central Heating and Cooling System

Listing and Financial Details

  • Tenant pays for cable TV, electricity, gas
  • Legal Lot and Block 23 / 44
  • Tax Tract Number 7273
  • Assessor Parcel Number 7273028044

Community Details

Overview

  • No Home Owners Association
  • 30 Units

Amenities

  • Community Fire Pit
  • Recreation Room
  • Community Storage Space

Recreation

  • Fitness Center

Building Details

  • 31 Separate Electric Meters
  • 31 Separate Gas Meters
  • 1 Separate Water Meter
  • Electric Expense $6,000
  • Insurance Expense $7,343
  • Maintenance Expense $21,604
  • Other Expense $15,000
  • Professional Management Expense $54,009
  • Trash Expense $3,000
  • Water Sewer Expense $13,000
  • New Taxes Expense $121,000
  • Gross Income $60,010
  • Net Operating Income $441,158

Security

  • Card or Code Access

Property Details

Home Type

Multi-Family

Year Built

Built in 2015 | Newly Remodeled

Lot Details

0

Parking

42

Listing Details

  • CapRate: 4.01
  • Professional Management Expense: 54009.00
  • Property Attached: Yes
  • Security: Card/Code Access
  • View: Yes
  • Water Sewer Expenses: 13000.00
  • Zoning: LB R4
  • Architectural Style: Modern
  • New Construction: Yes
  • Property Type: Residential Income
  • Parcel Number: 7273028044
  • Year Built: 2015
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Interior Amenities: High Ceilings, Open Floorplan
  • Stories: 4
  • Entry Location: Ground Level No Steps
  • Common Walls: 2+ Common Walls
  • Entry Level: 1
  • Price Per Square Foot: 467.09

Exterior Features

  • View: City Lights
  • Pool Private: No

Garage/Parking

  • Garage Spaces: 42.00
  • Parking: Yes
  • Parking Features: Assigned, Community Structure
  • Total Parking Spaces: 84.00

Utilities

  • Utilities: Sewer Connected
  • Heating: Yes
  • Laundry: Yes
  • Heating Type: Central
  • Laundry Features: Dryer Included, Washer Included
  • Trash Expense: 3000.00
  • Water Source: Public
  • Cooling: Central Air
  • Cooling: Yes

Condo/Co-op/Association

  • Association: No
  • Amenities: Controlled Access, Fire Pit, Gym/Ex Room, Recreation Room, Storage
  • Community Features: Urban

Lot Info

  • Lot Features: Walkstreet
  • Lot Size: 100' x 150'
  • Lot Size Sq Ft: 14260.00
  • Price Per Lot Square Foot: 687.24
  • Lot Size Acres: 0.3270

Rental Info

  • Tenant Pays: Cable TV, Electricity, Gas

Multi Family

  • Average1 Bed Area: 665
  • Average2 Bed Area: 780835
  • Average Studio Area: 605
  • Electric Expense: 6000.00
  • Gross Income: 60010.00
  • Gross Multiplier: 15.28
  • Gross Scheduled Income: 720120.00
  • Insurance Expense: 7343.00
  • Lot Size Area: 14260.0000 Square Feet
  • Maintenance Expense: 21604.00
  • Net Operating Income: 441158.00
  • Number Of Rented Garages: 7
  • Number Of Separate Electric Meters: 31
  • Number Of Separate Gas Meters: 31
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 30
  • Number With Carpet: 30
  • Number With Dishwasher: 30
  • Number With Disposal: 30
  • Number With Range: 30
  • Number With Refrigerator: 30
  • Operating Expense: 242956.00
  • Other Expense: 15000.00
  • Other Expense Description: Misc
  • Rent Control: No
  • Vacancy Allowance: 36006

Tax Info

  • New Taxes Expense: 121000.00
  • Tax Block: 44
  • Tax Lot: 23
  • Tax Tract Number: 7273

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
04/04/2016 04/04/16 Sold $9,800,000 -10.9% $467 / Sq Ft
01/22/2016 01/22/16 Pending -- -- --
11/05/2015 11/05/15 For Sale $11,000,000 -- $524 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • M

    Seller's Agent in 2016

    Matthew Wenzel

    Marcus & Millichap

    (562) 257-1200

    14 Total Sales

    Matthew Wenzel
    Section Image

  • N

    Buyer's Agent in 2016

    NoEmail NoEmail

    NONMEMBER MRML

    (646) 541-2551

    2 in this area

    5,851 Total Sales

    NoEmail NoEmail
    Section Image
See All Agents

Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PW15240528

California Regional Multiple Listing Service (CRMLS)
California Los Angeles County Long Beach 90802 East Village

431 E 6th St, Long Beach, CA

This home is located at 431 E 6th St, Long Beach, CA 90802 since 05 November 2015. This property was built in 2015. 431 E 6th St is a home located in Los Angeles County with nearby schools including Oropeza Elementary, Franklin 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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