Kimiah Wyer
Keller Williams Realty
(562) 247-4034
46 Total Sales
2 in North Alamitos Beach
$698,000 Price Range
497 Saint Louis Ave Long Beach, CA 90814
North Alamitos Beach Neighborhood
6
Beds
6
Baths
23,591
Sq Ft
0.48
Acre Lot
Highlights
- 0.48 Acre Lot
- Subterranean Parking
- Level Lot
- Wilson High School Rated A
- Laundry Facilities
About This Home
As of May 2023Saint Louis Apartments is a 30-unit value-add multifamily investment opportunity located in Long Beach, CA. Saint Louis Apartments offers a desirable mix of spacious one, two, and three-bedroom units featuring amenities including private patios and balconies, vinyl and carpet flooring, ceiling fans, and more. Built in 1987, the property features an attractive community amenities package including a subterranean parking garage offering 45 secured parking spaces and 27 spacious storage units, gated pedestrian access, on-site laundry, and an on-site leasing office. Long Beach’s continued strong rental metrics, including a 2022 vacancy rate of just 3.4 percent and year-over-year rent growth of 10.6 percent, provide a new owner with the opportunity to take advantage of the substantial demand for rental units in the area through unit interior renovations. With current rents below market rates, Saint Louis Apartments represents an attractive value-add opportunity for a new owner.
Last Agent to Sell the Property
Marcus & Millichap RE Invest License #01451551 Listed on: 02/28/2023
Last Buyer's Agent
Marcus & Millichap RE Invest License #01451551 Listed on: 02/28/2023
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area
Property Details
Home Type
- Apartment
Year Built
- Built in 1987
Lot Details
- 20,909 Sq Ft Lot
- No Common Walls
- Level Lot
Parking
- 45 Car Garage
- Subterranean Parking
- Parking Available
Interior Spaces
- 23,591 Sq Ft Home
- 2-Story Property
Bedrooms and Bathrooms
- 6 Bedrooms
- 6 Bathrooms
Listing and Financial Details
- Legal Lot and Block 4 / F
- Tax Tract Number 576
- Assessor Parcel Number 7263003030
- $5,212 per year additional tax assessments
Community Details
Building Details
- 30 Leased Units
- Rent Control
- 30 Separate Electric Meters
- 30 Separate Gas Meters
- Electric Expense $7,327
- Fuel Expense $7,327
- Insurance Expense $10,500
- Maintenance Expense $21,000
- Other Expense $49,552
- Professional Management Expense $22,285
- Trash Expense $7,327
- Water Sewer Expense $7,327
- New Taxes Expense $112,966
- Operating Expense $245,611
- Gross Income $656,100
- Net Operating Income $391,093
Additional Features
- 30 Units
- Laundry Facilities
Ownership 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
Name
Owned For
Owner Type
Purchase Details
Listed on
Feb 28, 2023
Closed on
Mar 16, 2023
Sold by
Mcclary Janet N
Bought by
Seller's Agent
Tyler Leeson
Marcus & Millichap RE Invest
Buyer's Agent
Tyler Leeson
Marcus & Millichap RE Invest
List Price
$9,500,000
Sold Price
$9,400,000
Premium/Discount to List
-$100,000
-1.05%
Views
33
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$4,200,000
Interest Rate
6.42%
Mortgage Type
Construction
Purchase Details
Closed on
Nov 22, 1993
Sold by
California Federal Bank Fsb
Bought by
Mcclary Terry G and Mcclary Janet N
Purchase Details
Closed on
Aug 25, 1993
Sold by
Cal Fed Service Corp
Bought by
California Federal Bank
Home Values in the Area
Average Home Value in this Area
Agents Specializing in North Alamitos Beach, CA
-
Kimiah Wyer
-
Rocio Ortegon
Rocio Ortegon
Keller Williams Palos Verdes
(424) 328-6725
55 Total Sales
1 in North Alamitos Beach
$395,000 Price
-
Guy Miracle
Guy Miracle
Sotheby's International Realty
(323) 894-9002
35 Total Sales
2 in North Alamitos Beach
$425K - $600K Price Range
-
Jeffrey Russell
Jeffrey Russell
Russell Realty Group
(626) 604-2792
113 Total Sales
1 in North Alamitos Beach
$355,000 Price
-
Ramon Sanchez
Ramon Sanchez
Century 21 Allstars
(562) 684-6070
169 Total Sales
1 in North Alamitos Beach
$383,000 Price
-
Cyrus Mohseni
Cyrus Mohseni
Responds QuicklyThe Keystone Team
(657) 341-0810
178 Total Sales
4 in North Alamitos Beach
$281K - $805K Price Range
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 |
|---|---|---|---|
| $9,400,000 | Chicago Title Company | ||
| Mcclary Terry G | $1,200,000 | First American Title Company | |
| California Federal Bank | $1,401,504 | -- |
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 |
|---|---|---|---|
| Previous Owner | $4,200,000 |
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 |
|---|---|---|---|---|
| 05/03/2023 05/03/23 | Sold | $9,400,000 | -1.1% | $398 / Sq Ft |
| 03/16/2023 03/16/23 | Pending | -- | -- | -- |
| 02/28/2023 02/28/23 | For Sale | $9,500,000 | -- | $403 / 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 | $130,861 | $9,975,355 | $5,730,523 | $4,244,832 |
| 2025 | $130,861 | $9,779,760 | $5,618,160 | $4,161,600 |
| 2024 | $125,187 | $9,588,000 | $5,508,000 | $4,080,000 |
| 2023 | $30,508 | $1,960,425 | $490,097 | $1,470,328 |
| 2022 | $28,683 | $1,921,987 | $480,488 | $1,441,499 |
| 2021 | $27,931 | $1,884,302 | $471,067 | $1,413,235 |
| 2019 | $27,537 | $1,851,515 | $457,096 | $1,394,419 |
| 2018 | $26,631 | $1,815,665 | $448,134 | $1,367,531 |
| 2016 | $24,438 | $1,722,960 | $430,734 | $1,292,226 |
| 2015 | $23,547 | $1,697,080 | $424,264 | $1,272,816 |
| 2014 | $23,339 | $1,663,838 | $415,954 | $1,247,884 |
Source: Public Records
Agents Affiliated with this Home
-
Tyler Leeson
Seller's Agent in 2023
Tyler Leeson
Marcus & Millichap RE Invest
(949) 419-3200
3 in this area
173 Total Sales
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: OC23034059
Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.
The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
Nearby Homes
- 1919 E Beverly Way Unit 113
- 606 Dawson Ave
- 2123 E 7th St
- 421 N Rose Place
- 732 Saint Louis Ave
- 1805 E 6th St
- 1738 E 4th St
- 311 Cherry Ave Unit 2
- 333 Junipero Ave Unit 1C
- 755 Gaviota Ave
- 1825 E 3rd St Unit 4
- 1915 E 3rd St
- 1785 E 3rd St
- 372 Carroll Park E Unit 406
- 372 Carroll Park E Unit 201
- 2122 E 10th St
- 2060 E 3rd St Unit 6
- 2060 E 3rd St Unit 3
- 1001 Cherry Ave Unit 107
- 1015 Dawson Ave
- 515 Saint Louis Ave
- 521 Saint Louis Ave
- 535 Saint Louis Ave
- 528 Cherry Ave Unit B
- 528 Cherry Ave Unit C
- 528 Cherry Ave
- 508 Cherry Ave
- 532 Cherry Ave Unit A
- 532 Cherry Ave
- 500 Cherry Ave
- 539 Saint Louis Ave
- 534 Cherry Ave
- 492 Cherry Ave
- 520 Saint Louis Ave
- 506 Saint Louis Ave
- 522 Saint Louis Ave Unit 1(own)
- 522 Saint Louis Ave
- 538 Cherry Ave
- 486 Cherry Ave
- 496 Saint Louis Ave
Your Personal Tour Guide
Ask me questions while you tour the home.