NOT LISTED FOR SALE
8 Beds
6 Baths
5,548 Sq Ft
7,891 Sq Ft Lot

Sale Details

Date Sold: October 29, 2020

Last sale price $1,875,000 $338 Per Sq Ft

8 Days on Market

Highlights

  • Gated Community
  • Traditional Architecture
  • Tile Flooring
  • Stanford Middle School Rated A-
  • Living Room Balcony
  • 6 Car Garage

About This Home

As of October 2020

This property consists of a 5-unit multifamily development. The front unit can be an owner's unit comprised of a 2-story 3-bedroom, 2-bathroom residence. The rear units consist of three 2-bedroom, 2-bathroom units and one 1-bedroom, 1-bathroom unit. The units have a patio or balcony feature with a hydronic heating system. The unit interiors are finished with laminate wood floors, wall-to-wall carpeting in the bedrooms, and ceramic tile floors in the bathrooms and kitchens. The kitchens have freestanding electric range/oven, vent fan hoods, and dishwashers. The property's common area includes a laundry room with coin operated washer and dryer. The rear units have a security gate entry. The property has a 2-car garage, six 1-car garages, 2-open spaces with a secured open space area in the rear that can be used for storage or converted to two additional open space parking. The property is located in the Circle / Los Altos Area in Long Beach and is approximately 3/4 mile from California State University Long Beach campus. There is a large student population in the neighborhood. Rents are below market with good upside potential.

Last Agent to Sell the Property

Ben Lara

American Pacific Realty License #00879626 Listed on: 08/03/2020

Last Buyer's Agent

David Goodwin

Fiv Realty Co License #01940769

Fiv Realty Co
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Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1978

Lot Details

  • 7,891 Sq Ft Lot
  • Property fronts an alley
  • No Common Walls
  • Block Wall Fence
  • Front Yard Sprinklers

Parking

  • 6 Car Garage
  • 2 Open Parking Spaces
  • Parking Available
  • Assigned Parking

Home Design

  • Traditional Architecture
  • Slab Foundation
  • Composition Roof
  • Stucco

Interior Spaces

  • 5,548 Sq Ft Home
  • 2-Story Property
  • Window Screens
  • Living Room with Fireplace
  • Living Room Balcony
  • Fire and Smoke Detector

Kitchen

  • Electric Oven
  • Electric Range
  • Dishwasher
  • Formica Countertops

Flooring

  • Carpet
  • Laminate
  • Tile

Bedrooms and Bathrooms

  • 8 Bedrooms
  • 6 Bathrooms

Utilities

  • Heating Available
  • Vented Exhaust Fan
  • Natural Gas Connected

Additional Features

  • Exterior Lighting
  • Suburban Location

Listing and Financial Details

  • Tenant pays for electricity, parking fee
  • Tax Lot 22
  • Tax Tract Number 15865
  • Assessor Parcel Number 7220002022

Community Details

Overview

  • 5 Units
  • Los Altos/North Of Fwy Subdivision

Building Details

  • 4 Leased Units
  • Rent Control
  • 6 Separate Electric Meters
  • 6 Separate Gas Meters
  • 1 Separate Water Meter
  • Gardener Expense $800
  • Insurance Expense $5,418
  • Maintenance Expense $2,000
  • Other Expense $3,200
  • Pest Control $900
  • Professional Management Expense $5,061
  • Trash Expense $2,100
  • New Taxes Expense $22,868
  • Operating Expense $42,347
  • Gross Income $133,200
  • Net Operating Income $84,063

Additional Features

  • Laundry Facilities
  • Gated Community

Property Details

Home Type

Multi-Family

Year Built

Built in 1978

Lot Details

7,891 Sq Ft Lot

Parking

6

Listing Details

  • Standard Status: Closed
  • CapRate: 4.42
  • Professional Management Expense: 5061.00
  • Property Attached: No
  • Road Frontage Type: Alley
  • Road Surface Type: Alley Paved
  • Security: Gated Community, Smoke Detector(s)
  • Subdivision Name Other: Los Altos/North of Fwy (LNF)
  • View: No
  • Zoning: LBR4R
  • Architectural Style: Traditional
  • Property Type: Residential Income
  • Gardener Expense: 800.00
  • Parcel Number: 7220002022
  • Year Built: 1978
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Fireplace: Yes
  • Interior Amenities: Formica Counters, Living Room Balcony
  • Stories: 2
  • Common Walls: No Common Walls
  • Flooring: Carpet, Laminate, Tile
  • Appliances: Yes
  • Fireplace Features: Living Room
  • Levels: Two
  • Price Per Square Foot: 337.96
  • Room Type: Kitchen, Living Room, Master Bathroom
  • Window Features: Screens

Exterior Features

  • Foundation: Slab
  • Fence: Yes
  • Fencing: Block
  • Pool Private: No
  • Roof: Composition
  • Spa: No
  • Construction Materials: Stucco

Garage/Parking

  • Garage Spaces: 6.00
  • Parking: Yes
  • Parking Features: Assigned, Garage
  • Total Parking Spaces: 8.00
  • Uncovered Spaces: 2.00

Utilities

  • Utilities: Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
  • Heating: Yes
  • Laundry: Yes
  • Appliances: Dishwasher, Electric Oven, Electric Range, Vented Exhaust Fan
  • Electric: Standard
  • Laundry Features: Community
  • Pest Control Expense: 900.00
  • Sewer: Public Sewer
  • Trash Expense: 2100.00
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No
  • Community Features: Curbs, Sidewalks, Street Lights, Suburban

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: Lot 6500-9999, Sprinklers In Front
  • Lot Size Sq Ft: 7891.00
  • Lot Size Acres: 0.1812

Rental Info

  • Tenant Pays: Electricity, Parking Fee

Multi Family

  • Gross Income: 133200.00
  • Gross Operating Income: 126540.00
  • Gross Scheduled Income: 133200.00
  • Insurance Expense: 5418.00
  • Lot Size Area: 7891.0000 Square Feet
  • Maintenance Expense: 2000.00
  • Net Operating Income: 84063.00
  • Number Of Separate Electric Meters: 6
  • Number Of Separate Gas Meters: 6
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 4
  • Number Of Units Total: 5
  • Number With Dishwasher: 5
  • Number With Range: 5
  • Operating Expense: 42347.00
  • Other Expense: 3200.00
  • Other Expense Description: Util.
  • Rent Control: Yes
  • Total Actual Rent: 8450.00
  • Total Expenses: 42347.00
  • Vacancy Allowance Rate: 5.00

Tax Info

  • New Taxes Expense: 22868.00
  • Tax Census Tract: 5749.02
  • Tax Lot: 22
  • Tax Tract Number: 15865

Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

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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
$1,875,000 First American Title Company
Stl Family Limited Partnership -- None Available
Bhoopat Vichai -- --
Bhoopat Vichai -- --
Lau Tak L -- --
Lau Tak L -- --
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 $765,000
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
10/29/2020 10/29/20 Sold $1,875,000 -1.3% $338 / Sq Ft
08/11/2020 08/11/20 Pending -- -- --
08/03/2020 08/03/20 For Sale $1,900,000 -- $342 / Sq Ft
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
2026 $28,122 $2,224,796 $1,324,895 $899,901
2025 $28,122 $2,029,558 $1,298,917 $730,641
2024 $26,902 $1,989,764 $1,273,449 $716,315
2023 $26,427 $1,950,750 $1,248,480 $702,270
2022 $24,815 $1,912,500 $1,224,000 $688,500
2021 $24,294 $1,875,000 $1,200,000 $675,000
2019 $10,650 $720,660 $288,261 $432,399
2018 $10,282 $706,530 $282,609 $423,921
2016 $9,471 $679,096 $271,636 $407,460
2015 $9,121 $668,896 $267,556 $401,340
2014 $9,067 $655,794 $262,315 $393,479
Source: Public Records

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: OC20155591

California Regional Multiple Listing Service (CRMLS)
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