NOT LISTED FOR SALE

Estimated Value: $1,550,000 - $1,846,542

5 Beds
4 Baths
2,992 Sq Ft
$570/Sq Ft Est. Value

Sale Details

Date Sold: August 20, 2019

Last sale price $1,080,000 $361 Per Sq Ft

Est. 58% increase in value since last sale

Current estimated payment $11,211 / mo

30 Days on Market

Highlights

  • No Units Above
  • No HOA
  • Laundry Facilities

About This Home

As of August 2019

If you're looking for a great four-plex in a fantastic area of Long Beach, look no further! This property is located in the Lakewood Village neighborhood, down the street from the Parkview Village shops. This property offers a great unit mix of 3 one bedroom units, and 1 two bedroom unit that sits upstairs over the garages that are made up of 3 one car and 1 two car garages! The units are all decent size and spacious, and have been very well maintained. The building has just finished getting painted, boasts vinyl double-paned windows throughout, copper plumbing, and professionally managed landscaping. The very long-term tenants all enjoy the laundry room attached to the property and the grassy areas on 3 sides of the property. You definitely have the ability to add value with this property as there's plenty of room for rent increases, as well as the ability to upgrade the laundry machines to coin-operated for some additional income.

Last Agent to Sell the Property

Justin Edwards

Beach Cities Management, Inc. License #01704406 Listed on: 06/21/2019

Last Buyer's Agent

Simone Perkins

Real Estate Ebroker Inc License #01888819

Range of Values:

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Value Increase
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Percent Increase
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Adjusted for Inflation
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Average Value
Not Available
List Price
Sold Price
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Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1943

Lot Details

  • 7,314 Sq Ft Lot
  • No Units Above
  • No Units Located Below
  • Two or More Common Walls
  • Density is up to 1 Unit/Acre

Parking

  • 5 Car Garage

Home Design

  • 2,992 Sq Ft Home
  • Quadruplex

Bedrooms and Bathrooms

  • 5 Bedrooms
  • 4 Bathrooms

Listing and Financial Details

  • Tenant pays for cable TV, electricity, gas, telephone
  • Legal Lot and Block 25 / F
  • Tax Tract Number 12664
  • Assessor Parcel Number 7180033017

Community Details

Overview

  • No Home Owners Association
  • 2 Buildings
  • 4 Units

Amenities

  • Laundry Facilities

Building Details

  • 4 Leased Units
  • 4 Separate Electric Meters
  • 4 Separate Gas Meters
  • 1 Separate Water Meter
  • Gardener Expense $1,200
  • Insurance Expense $1,400
  • Maintenance Expense $1,200
  • Professional Management Expense $3,967
  • Trash Expense $600
  • Water Sewer Expense $2,400
  • New Taxes Expense $14,062
  • Operating Expense $25,329
  • Gross Income $66,120
  • Net Operating Income $44,594

Property Details

Home Type

Multi-Family

Year Built

Built in 1943

Lot Details

7,314 Sq Ft Lot

Parking

5

Listing Details

  • CapRate: 4.13
  • Professional Management Expense: 3967.00
  • Property Attached: Yes
  • Subdivision Name Other: Lakewood Village (LKVL)
  • Water Sewer Expenses: 2400.00
  • Zoning: LBR34
  • Property Sub Type: Quadruplex
  • Property Type: Residential Income
  • Gardener Expense: 1200.00
  • Parcel Number: 7180033017
  • Year Built: 1943
  • Special Features: None

Interior Features

  • Common Walls: 2+ Common Walls, No One Above, No One Below
  • Price Per Square Foot: 360.96

Exterior Features

  • Pool Private: No

Garage/Parking

  • Garage Spaces: 5.00
  • Total Parking Spaces: 5.00

Utilities

  • Laundry: Yes
  • Laundry Features: Common Area
  • Sewer: Public Sewer
  • Trash Expense: 600.00
  • Water Source: Public

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Community Features: Curbs

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: 0-1 Unit/Acre
  • Lot Size Sq Ft: 7314.00
  • Lot Size Acres: 0.1679

Rental Info

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

Multi Family

  • Gross Income: 66120.00
  • Gross Multiplier: 16.33
  • Gross Operating Income: 64798.00
  • Gross Scheduled Income: 66120.00
  • Insurance Expense: 1400.00
  • Laundry Equipment Own Lease: Own
  • Lot Size Area: 7314.0000 Square Feet
  • Maintenance Expense: 1200.00
  • Net Operating Income: 44594.00
  • 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: 25329.00
  • Rent Control: No
  • Total Actual Rent: 5510.00
  • Total Expenses: 25329.00
  • Vacancy Allowance Rate: 2.00

Tax Info

  • New Taxes Expense: 14062.00
  • Tax Block: F
  • Tax Census Tract: 5712.00
  • Tax Lot: 25
  • Tax Tract Number: 12664

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
May 1, 2023
Sold by
Bought by
Current Estimated Value
$1,706,886

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,180,500
Outstanding Balance
$1,133,732
Interest Rate
6.27%
Mortgage Type
New Conventional
Estimated Equity
$573,154

Purchase Details

Listed on
Jun 21, 2019
Closed on
Jul 23, 2019
Sold by
Bought by
Seller's Agent
Justin Edwards
Beach Cities Management, Inc.
Buyer's Agent
Simone Perkins
Real Estate Ebroker Inc
List Price
$1,125,000
Sold Price
$1,080,000
Premium/Discount to List
-$45,000
-4%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
6.80%
Original Mortgage
$756,000
Interest Rate
3.7%
Mortgage Type
New Conventional

Purchase Details

Closed on
Oct 30, 2003
Sold by
Bought by

Purchase Details

Closed on
Jan 7, 2003
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
$200,000
Interest Rate
5.97%
Source: Public Records

Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Agents Specializing in Lakewood VIllage, CA

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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
$1,574,000 Fidelity National Title
$1,080,000 Chicago Title Company
-- --
$420,000 North American Title Co
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 $1,180,500
Previous Owner $756,000
Previous Owner $200,000
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
08/20/2019 08/20/19 Sold $1,080,000 0.0% $361 / Sq Ft
07/21/2019 07/21/19 Pending -- -- --
07/12/2019 07/12/19 Price Changed $1,080,000 -4.0% $361 / Sq Ft
06/21/2019 06/21/19 For Sale $1,125,000 0.0% $376 / Sq Ft
05/07/2014 05/07/14 Rented $1,125 0.0% --
05/07/2014 05/07/14 For Rent $1,125 0.0% --
12/05/2013 12/05/13 Rented $1,125 0.0% --
12/05/2013 12/05/13 For Rent $1,125 -- --
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 $21,740 $1,637,589 $1,040,400 $597,189
2024 $20,801 $1,605,480 $1,020,000 $585,480
2023 $14,994 $1,135,270 $735,824 $399,446
2022 $14,074 $1,113,011 $721,397 $391,614
2021 $13,792 $1,091,188 $707,252 $383,936
2020 $13,754 $1,080,000 $700,000 $380,000
2019 $7,380 $545,293 $324,583 $220,710
2018 $7,136 $534,602 $318,219 $216,383
2016 $6,560 $513,845 $305,863 $207,982
2015 $6,305 $506,127 $301,269 $204,858
2014 $6,277 $496,214 $295,368 $200,846
Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PW19147789

California Regional Multiple Listing Service (CRMLS)

APN: 7180-033-017

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