NOT LISTED FOR SALE

Estimated Value: $1,169,000 - $1,592,000

4 Beds
4 Baths
2,320 Sq Ft
$610/Sq Ft Est. Value

Last Sold January 29, 2016

Last sale price $813,750 $351 Per Sq Ft

Est. 74% increase in value since last sale

Current estimated payment $8,453/month

48 Days on Market

Highlights

  • Traditional Architecture
  • Private Yard
  • Living Room
  • Mark Twain Elementary School Rated A-
  • No HOA
  • Floor Furnace

About This Home

As of January 2016

Four unit buildings in Lakewood Village, Sharing an almost, Park-like setting of amazing tranquility and natural serenity, Tucked away in the center of Lakewood and Long Beach California. Only minutes from: the airport, quaint shops, restaurants, 91, 710, 405, and 605 freeways. Solid demographics * excellent upside rental potential * long term tenants. Truly an outstanding lifestyle and investment opportunity, Nestled in the heart of the Village. Charming, best describes each of the buildings. Spacious, sun filled, and classically detailed, including; Large Kitchens, Lovely bathrooms, Storage, and nicely proportioned bedrooms. *Four 1 bedroom 1 Bath units Adjoining the Northern building is a patio and garden with lawns surrounding the southern building. Tremendous off- street parking and four garages are huge pluses for this investment opportunity. Minutes away from: neighborhood parks, award winning schools, the university and golf courses. Down town Long Beach and all of its vibrancy and beauty, Belmont shore, World class surf and beaches, and the spectacular southern California coast.

Last Agent to Sell the Property

Noemi Baeza

Keller Williams Realty License #01266442 Listed on: 10/23/2015

Last Buyer's Agent

Todd McIntosh

Y Realty License #01472763

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1944

Lot Details

  • 8,852 Sq Ft Lot
  • Property fronts an alley
  • Two or More Common Walls
  • Private Yard

Parking

  • 4 Car Garage
  • Single Garage Door
  • On-Street Parking
  • Uncovered Parking
  • Unassigned Parking

Home Design

  • Traditional Architecture
  • Property Attached
  • Raised Foundation
  • Composition Roof
  • Stucco

Interior Spaces

  • 2,320 Sq Ft Home
  • Living Room
  • Gas Cooktop

Flooring

  • Carpet
  • Vinyl

Bedrooms and Bathrooms

  • 4 Bedrooms
  • 4 Bathrooms

Home Security

  • Carbon Monoxide Detectors
  • Fire and Smoke Detector

Location

  • Suburban Location

Utilities

  • Floor Furnace
  • Wall Furnace
  • Cable TV Available

Listing and Financial Details

  • Tenant pays for cable TV, electricity, gas
  • Tax Lot 31
  • Tax Tract Number 12773
  • Assessor Parcel Number 7181016022

Community Details

Overview

  • No Home Owners Association
  • 4 Units

Building Details

  • 3 Leased Units
  • 4 Separate Electric Meters
  • 4 Separate Gas Meters
  • 1 Separate Water Meter
  • New Taxes Expense $5,730
  • Operating Expense $12,717
  • Gross Income $2,735
  • Net Operating Income $20,103

Property Details

Home Type

Multi-Family

Year Built

Built in 1944

Lot Details

0

Parking

4

Listing Details

  • Assessments: No
  • Property Attached: Yes
  • Road Frontage Type: Alley
  • Security: Carbon Monoxide Detector(s), Smoke Detector(s)
  • Subdivision Name Other: Lakewood Village (LKVL)
  • View: No
  • Architectural Style: Traditional
  • Property Type: Residential Income
  • Parcel Number: 7181016022
  • Year Built: 1944
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Fireplace: No
  • Common Walls: 2+ Common Walls
  • Flooring: Carpet, Vinyl
  • Appliances: Yes
  • Levels: Two
  • Price Per Square Foot: 350.75
  • Room Type: Living Room

Exterior Features

  • Foundation: Raised
  • Pool Private: No
  • Roof: Composition
  • Spa: No
  • Construction Materials: Stucco

Garage/Parking

  • Garage Spaces: 4.00
  • Parking: No
  • Parking Features: Concrete, Garage - Single Door, Street, Unassigned, Uncovered
  • Total Parking Spaces: 4.00

Utilities

  • Utilities: Cable Available, Sewer Available, Water Connected
  • Heating: Yes
  • Laundry: No
  • Appliances: Gas Cooktop
  • Heating Type: Floor Furnace, Wall Furnace
  • Water Source: Public

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Community Features: Suburban

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: Yard
  • Lot Size Sq Ft: 8852.00
  • Price Per Lot Square Foot: 91.93
  • Lot Size Acres: 0.2030

Rental Info

  • Tenant Pays: Cable TV, Electricity, Gas

Multi Family

  • Average1 Bed Area: 560
  • Gross Income: 2735.00
  • Gross Operating Income: 32820.00
  • Gross Scheduled Income: 32820.00
  • Lot Size Area: 8852.0000 Square Feet
  • Net Operating Income: 20103.00
  • Number Of Separate Electric Meters: 4
  • Number Of Separate Gas Meters: 4
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 3
  • Number Of Units Total: 4
  • Operating Expense: 5730.00
  • Other Income Description: expenses combined MLS#PW152317
  • Rent Control: No
  • Total Actual Rent: 2735.00
  • Total Expenses: 12717.00

Tax Info

  • New Taxes Expense: 5730.00
  • Tax Lot: 31
  • Tax Tract Number: 12773

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Oct 23, 2015
Closed on
Jan 22, 2016
Sold by
James Gary Ross
Bought by
Home Ownership For Personal Empowerment
Seller's Agent
Noemi Baeza
Keller Williams Realty
Buyer's Agent
Todd McIntosh
Y Realty
List Price
$820,000
Sold Price
$813,750
Premium/Discount to List
-$6,250
-0.76%
Current Estimated Value
$1,416,061

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$602,311
Avg. Annual Appreciation
5.73%
Original Mortgage
$556,500
Outstanding Balance
$442,306
Interest Rate
3.94%
Mortgage Type
New Conventional
Estimated Equity
$973,755

Purchase Details

Closed on
Sep 20, 2004
Sold by
James Robert Irving and James Dorothy Pauline
Bought by
James Robert Irving

Purchase Details

Closed on
Aug 30, 2004
Sold by
James Robert Irving and James Dorothy Pauline
Bought by
James Robert Irving
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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Average Value
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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

Date Buyer Sale Price Title Company
Home Ownership For Personal Empowerment $814,000 Lawyers Title Company
James Robert Irving -- --
James Robert Irving -- --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Home Ownership For Personal Empowerment $556,500
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
01/29/2016 01/29/16 Sold $813,750 -0.8% $351 / Sq Ft
12/10/2015 12/10/15 Pending -- -- --
10/23/2015 10/23/15 For Sale $820,000 -- $353 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Tax History

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 $12,575 $963,307 $680,679 $282,628
2024 $12,575 $944,420 $667,333 $277,087
2023 $12,362 $925,903 $654,249 $271,654
2022 $11,607 $907,749 $641,421 $266,328
2021 $11,373 $889,951 $628,845 $261,106
2019 $11,210 $863,556 $610,194 $253,362
2018 $10,879 $846,625 $598,230 $248,395
2016 $5,985 $465,266 $313,753 $151,513
2015 $5,753 $458,279 $309,041 $149,238
2014 $5,731 $331,385 $223,689 $107,696
Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PW15231873

California Regional Multiple Listing Service (CRMLS)

APN: 7181-016-022