NOT LISTED FOR SALE
11 Beds
10 Baths
5,170 Sq Ft
7,171 Sq Ft Lot

Last Sold September 08, 2021

Last sale price $1,728,000 $334 Per Sq Ft

64 Days on Market

Highlights

  • Wood Flooring
  • Laundry Room
  • 7 Car Garage
  • Balcony
  • Ceiling Fan
  • 5-minute walk to Grace Park

About This Home

As of September 2021

Excellent remodeled 6-unit building with great rents, ample parking, and more upside in north Long Beach. Building infrastructure has had many upgrades, including new copper plumbing throughout, new ABS sewer line, new breaker boxes, hardwood floors, and reconditioned roof. 5 of the 6 units have gone through extensive remodeling, and delivered with reliable tenants who have yet to miss any rental payments in the last years. The building has 7 one-car garages as well as an additional uncovered parking spot in front of each, 14 parking spots total. Coin operated laundry room in the rear services the building and provides additional income. Turn-key property with low maintenance and low expenses, great value with additional income upside and easy access to freeways, the beach, parks, and restaurants.

Last Agent to Sell the Property

Derek Lester

Compass License #01921397 Listed on: 03/23/2021

Compass

Co-Listed By

Joseph Reichling

Compass License #01427385

Last Buyer's Agent

Ari Gharib

LFA Multifamily Inc. License #01981194

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1968

Lot Details

  • 7,171 Sq Ft Lot
  • Lot Dimensions are 50x143

Interior Spaces

  • 5,170 Sq Ft Home
  • 2-Story Property
  • Ceiling Fan
  • Wood Flooring

Kitchen

  • Oven
  • Gas Cooktop
  • Microwave
  • Ice Maker
  • Dishwasher
  • Disposal

Bedrooms and Bathrooms

  • 11 Bedrooms
  • 10 Bathrooms

Laundry

  • Laundry Room
  • Leased Washer and Dryer

Parking

  • 7 Car Garage
  • Driveway

Outdoor Features

  • Balcony

Utilities

  • Window Unit Cooling System
  • Heating System Mounted To A Wall or Window
  • Sewer in Street

Community Details

  • 6 Units

Listing and Financial Details

  • Tenant pays for electricity, gas, water
  • Assessor Parcel Number 7127-024-029

Property Details

Home Type

Multi-Family

Year Built

Built in 1968

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Street Number Display: Yes
  • Living Area: 5170
  • Lot Acreage: 0.1646
  • Lot Dimensions: 50x143
  • Stories: 2
  • Year Built: 1968
  • Number Of Photos: 33
  • State Abbrv: CA
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Flooring: Wood
  • Appliances: Cooktop - Gas, Microwave, Oven
  • Bedrooms: 11
  • Laundry: Laundry Area
  • Laundry Equipment: Lease
  • Total Bathrooms: 10.00
  • Equipment: Microwave, Ice Maker, Garbage Disposal, Dishwasher, Ceiling Fan, Refrigerator, Washer, Dryer
  • Price Per S Q F T: 335.59

Exterior Features

  • Other Features: Balcony
  • Other Structures: None
  • Tennis Court Y/N: No
  • Pool: No
  • Spa Yn: No

Garage/Parking

  • Other Spaces: 7
  • Covered Parking: 7
  • Parking Garage: Garage, Driveway
  • Total Parking: 7

Utilities

  • Cooling: Window Unit(s)
  • Heating: Wall Gas
  • Sewer: In Street
  • Water: In Street
  • Water Heaters: Yes

Lot Info

  • Assessed Improvement Percent: 70.70
  • Assessed Improvement Value: 984300
  • Assessed Land Percent: 29.3
  • Assessed Land Value: 408000
  • Total Assessed Value: 1392300
  • Assessor Parcel Number: 7127-024-029
  • Lot Size Area: 7171

Rental Info

  • Tenant Pays: Electricity, Gas, Water

Multi Family

  • Unit Type: 2106, 2107, 2108, 2109, 2110, 2111
  • Gross Rent Multiplier: 12.44
  • Number Of Units: 6
  • Total Annual Expense: 34350
  • Type Of Units: Residential
  • Vacancy Rate: 2

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
09/08/2021 09/08/21 Sold $1,728,000 -0.4% $334 / Sq Ft
05/26/2021 05/26/21 Pending -- -- --
05/14/2021 05/14/21 Price Changed $1,735,000 0.0% $336 / Sq Ft
05/14/2021 05/14/21 For Sale $1,735,000 +0.6% $336 / Sq Ft
04/19/2021 04/19/21 Pending -- -- --
03/23/2021 03/23/21 For Sale $1,725,000 +26.4% $334 / Sq Ft
03/12/2019 03/12/19 Sold $1,365,000 0.0% $264 / Sq Ft
12/10/2018 12/10/18 For Sale $1,365,000 +16.2% $264 / Sq Ft
04/11/2017 04/11/17 Sold $1,175,000 -2.0% $227 / Sq Ft
01/17/2017 01/17/17 Pending -- -- --
10/12/2016 10/12/16 Price Changed $1,199,000 -2.1% $232 / Sq Ft
09/13/2016 09/13/16 Price Changed $1,225,000 -2.0% $237 / Sq Ft
04/20/2016 04/20/16 For Sale $1,250,000 +100.0% $242 / Sq Ft
04/26/2013 04/26/13 Sold $625,000 -10.6% $121 / Sq Ft
04/17/2013 04/17/13 Pending -- -- --
02/12/2013 02/12/13 For Sale $699,000 -- $135 / Sq Ft
Source: The MLS

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

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Map

Source: The MLS

MLS Number: 21-709562

The MLS