NOT LISTED FOR SALE
6 Beds
6 Baths
7,346 Sq Ft
1951 Built

Last Sold September 06, 2017

Last sale price $4,500,000 $613 Per Sq Ft

75 Days on Market

Highlights

  • Ocean View
  • Property has ocean access
  • Corner Lot
  • Lowell Elementary School Rated A-
  • 5,451 Sq Ft lot
  • Laundry Room

About This Home

As of September 2017

This ocean front property in Long Beach just received a fresh and modern make over that includes new: roof, bronze aluminum windows, copper plumbing, some drain lines, Exterior Siding, railings, paint, automatic garage doors (5 PRIVATE GARAGES), front doors and landscaping. The building is comprised of ten (10) one bedroom one bathroom units which feature new: white shaker cabinets, grey quartz counter tops, white subway tile kitchen backsplashes, interior doors and hardware, stainless steel Samsung appliances (dishwasher, microwave, range and fridge), washer and dryer in each unit, smooth ceilings, recessed lighting, modern wood laminate flooring, tub, wall tile, floor tile, paint and fixtures! This remodel work was permitted. The building also has a one bed one bath non-conforming 11th unit that was not remodeled. It has a large balcony with a 180-degree ocean view. All of the units have an ocean view. The building is controlled access and just a few blocks from all the restaurants and nightlife of 2nd street.

Last Agent to Sell the Property

Bryan Bohlinger

Bohlinger Properties, Inc. License #01522061 Listed on: 05/23/2017

Co-Listed By

Braden Bohlinger

Bohlinger Properties, Inc. License #01982518

Last Buyer's Agent

Brett Lyon

Lyon Stahl Investment Real Estate, Inc. License #01717818

Lyon Stahl Investment Real Estate, Inc.

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1951

Lot Details

  • 5,451 Sq Ft Lot
  • Two or More Common Walls
  • Corner Lot
  • Drip System Landscaping
  • Sprinkler System

Parking

  • 5 Car Garage

Property Views

  • Ocean
  • Coastline

Home Design

  • Property Attached

Interior Spaces

  • 7,346 Sq Ft Home
  • Laminate Flooring

Kitchen

  • Gas Range
  • Microwave
  • Dishwasher
  • Disposal

Bedrooms and Bathrooms

  • 6 Bedrooms
  • 6 Bathrooms

Laundry

  • Laundry Room
  • Stacked Washer and Dryer

Outdoor Features

  • Property has ocean access
  • Beach Access
  • Exterior Lighting

Listing and Financial Details

  • Tax Lot 30
  • Tax Tract Number 3750
  • Assessor Parcel Number 7256032029

Community Details

Overview

  • 11 Units

Building Details

  • 11 Leased Units
  • 11 Separate Electric Meters
  • 11 Separate Gas Meters
  • 1 Separate Water Meter
  • Electric Expense $75
  • Gardener Expense $960
  • Insurance Expense $9,595
  • Maintenance Expense $6,050
  • Professional Management Expense $7,972
  • Trash Expense $204
  • Water Sewer Expense $128
  • New Taxes Expense $53,192
  • Operating Expense $84,134
  • Gross Income $9,000
  • Net Operating Income $181,607

Property Details

Home Type

Multi-Family

Year Built

Built in 1951

Lot Details

0

Parking

5

Listing Details

  • CapRate: 3.99
  • Professional Management Expense: 7972.00
  • Property Attached: Yes
  • Subdivision Name Other: Belmont Shore (BSD)
  • View: Yes
  • Water Sewer Expenses: 127.77
  • Zoning: LBR4R
  • Property Type: Residential Income
  • Gardener Expense: 960.00
  • Parcel Number: 7256032029
  • Year Built: 1951
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Common Walls: 2+ Common Walls
  • Flooring: Laminate
  • Appliances: Yes
  • Levels: Two
  • Price Per Square Foot: 612.58

Exterior Features

  • View: Coastline, Ocean
  • Pool Private: No

Garage/Parking

  • Garage Spaces: 5.00
  • Total Parking Spaces: 5.00

Utilities

  • Laundry: Yes
  • Appliances: Dishwasher, Disposal, Gas Range, Microwave, Refrigerator
  • Laundry Features: Dryer Included, Individual Room, Stackable, Washer Included
  • Sewer: Public Sewer
  • Trash Expense: 204.00
  • Water Source: Public

Condo/Co-op/Association

  • Community Features: Curbs, Sidewalks, Street Lights

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: Corner Lot, Sprinkler System, Sprinklers Drip System
  • Lot Size Sq Ft: 5451.00

Rental Info

  • Garage Rental Rate: 150.00

Multi Family

  • Electric Expense: 75.00
  • Garage Income: 750.00
  • Gross Income: 9000.00
  • Gross Multiplier: 16.61
  • Gross Operating Income: 265741.00
  • Gross Scheduled Income: 273960.00
  • Insurance Expense: 9595.00
  • Maintenance Expense: 6050.00
  • Net Operating Income: 181607.00
  • Number Of Rented Garages: 5
  • Number Of Separate Electric Meters: 11
  • Number Of Separate Gas Meters: 11
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 11
  • Number Of Units Total: 11
  • Operating Expense: 84134.00
  • Rent Control: No
  • Total Actual Rent: 22830.00
  • Total Expenses: 84134.00
  • Vacancy Allowance Rate: 3.00
  • Waterfront Features: Beach Access, Ocean Access

Tax Info

  • New Taxes Expense: 53192.00
  • Tax Census Tract: 5773.00
  • Tax Lot: 30
  • Tax Tract Number: 3750

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
09/06/2017 09/06/17 Sold $4,500,000 -1.1% $613 / Sq Ft
08/06/2017 08/06/17 Pending -- -- --
07/24/2017 07/24/17 For Sale $4,550,000 0.0% $619 / Sq Ft
06/23/2017 06/23/17 Pending -- -- --
06/13/2017 06/13/17 For Sale $4,550,000 0.0% $619 / Sq Ft
06/03/2017 06/03/17 Pending -- -- --
05/23/2017 05/23/17 For Sale $4,550,000 +67.0% $619 / Sq Ft
10/22/2015 10/22/15 Sold $2,725,000 +0.9% $371 / Sq Ft
09/15/2015 09/15/15 Pending -- -- --
08/28/2015 08/28/15 For Sale $2,700,000 -- $368 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: SB17114445

California Regional Multiple Listing Service (CRMLS)