NOT LISTED FOR SALE

4603 E Broadway Long Beach, CA 90803

Belmont Heights Neighborhood
5 Beds
5 Baths
4,300 Sq Ft
7,170 Sq Ft Lot

Last Sold October 18, 2022

Last sale price $3,200,000 $744 Per Sq Ft

84 Days on Market

Highlights

  • Golf Course Community
  • Hiking Trails
  • 5-minute walk to Livingston Drive Park
  • Lowell Elementary School Rated A-
  • Laundry Room

About This Home

As of October 2022

Stunning, remodeled 5-unit apartment building, with ocean
views, located just minutes from the beach in Belmont
Heights, one of Long Beach's most desirable neighborhoods.
This turn-key gem has top-of-the-market rents and zero
deferred maintenance, making it an ideal opportunity for any
investor or exchange buyer looking for great cash-flow and
extremely low maintenance.
With 4,300 SqFt of rentable space, 4603 E Broadway is
comprised of (4) oversized 1Bed/1Bath & (1) loft units, averaging 900
sqft each. All units have been tastefully remodeled, featuring
hardwood floors, new cabinets, brand new stainless steel
appliances and W/D in unit. 4603 E Broadway also features 3
garage parking spots, a rare commodity in the city of Long
Beach. Beneficial to the new owner, each unit is separately
metered for gas and electricity.
Located in beautiful Belmont Heights, one of Long Beach's Top
Rental Markets, 4603 E Broadway is just steps away from 2nd
St, an area featuring many hip restaurants, bars and
shopping. The upside in the Long Beach market is limitless,
with $6 Billion in new capital pouring into projects such as the
Long Beach Civic Center, Long Beach Aquarium, OceanAire
Project, CSULB Downtown Village, Broadway Block, The Pacific
and Queen Mary Island.

Last Agent to Sell the Property

Cameron Samimi

Lyon Stahl Investment Real Estate, Inc. License #02035763 Listed on: 07/12/2022

Lyon Stahl Investment Real Estate, Inc.

Last Buyer's Agent

Alan & Helene Fasnacht

Team Fasnacht Realty License #00542691

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1922

Lot Details

  • 7,170 Sq Ft Lot
  • Two or More Common Walls
  • Density is up to 1 Unit/Acre

Parking

  • 3 Car Garage

Home Design

  • 4,300 Sq Ft Home
  • Apartment

Bedrooms and Bathrooms

  • 5 Bedrooms
  • 5 Bathrooms

Additional Features

  • Laundry Room
  • Rain Gutters

Listing and Financial Details

  • Legal Lot and Block 12 / 12
  • Tax Tract Number 1234
  • Assessor Parcel Number 7250010014

Community Details

Overview

  • 2 Buildings
  • 5 Units

Recreation

  • Golf Course Community
  • Hiking Trails
  • Bike Trail

Building Details

  • 5 Separate Electric Meters
  • 5 Separate Gas Meters
  • 1 Separate Water Meter
  • Operating Expense $54,238
  • Gross Income $178,560
  • Net Operating Income $118,965

Property Details

Home Type

Multi-Family

Year Built

Built in 1922

Lot Details

0

Parking

3

Listing Details

  • CapRate: 3.61
  • Property Attached: Yes
  • Zoning: LBR1N
  • Property Type: Residential Income
  • Parcel Number: 7250010014
  • Year Built: 1922
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Common Walls: 2+ Common Walls
  • Price Per Square Foot: 744.19

Exterior Features

  • Pool Private: No

Garage/Parking

  • Garage Spaces: 3.00
  • Total Parking Spaces: 3.00

Utilities

  • Laundry: Yes
  • Laundry Features: Inside
  • Sewer: Public Sewer
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No
  • Common Interest: Community Apartment
  • Community Features: Biking, Curbs, Golf, Hiking, Gutters, Sidewalks

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: 0-1 Unit/Acre
  • Lot Size Sq Ft: 7170.00
  • Lot Size Acres: 0.1646

Multi Family

  • Gross Income: 178560.00
  • Gross Multiplier: 18.48
  • Gross Scheduled Income: 178560.00
  • Lot Size Area: 7170.0000 Square Feet
  • Net Operating Income: 118965.00
  • Number Of Separate Electric Meters: 5
  • Number Of Separate Gas Meters: 5
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 5
  • Operating Expense: 54238.00
  • Rent Control: No
  • Total Expenses: 54238.00
  • Vacancy Allowance Rate: 3.00

Tax Info

  • Tax Block: 12
  • Tax Census Tract: 5774.00
  • Tax Lot: 12
  • Tax Tract Number: 1234

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

Property History

Date Event Price List to Sale Price per Sq Ft
10/18/2022 10/18/22 Sold $3,200,000 -3.0% $744 / Sq Ft
10/05/2022 10/05/22 Pending -- -- --
07/12/2022 07/12/22 For Sale $3,300,000 -- $767 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Cameron Samimi

    Seller's Agent in 2022

    Cameron Samimi

    Lyon Stahl Investment Real Estate, Inc.

    (310) 259-7556

    2 in this area

    203 Total Sales

    Cameron Samimi
    Section Image
  • Alan & Helene Fasnacht

    Buyer's Agent in 2022

    Alan & Helene Fasnacht

    Team Fasnacht Realty

    (562) 243-5948

    2 in this area

    87 Total Sales

    Alan & Helene Fasnacht
    Section Image
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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: SB22145999

California Regional Multiple Listing Service (CRMLS)
California Los Angeles County Long Beach 90803 Belmont Heights

4603 E Broadway, Long Beach, CA

Not Listed for Sale

MultiFamily

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