501 W 8th St Long Beach, CA 90813
Willmore NeighborhoodEstimated payment $5,606/month
Highlights
- Laundry Room
- Front Yard
- 5-minute walk to Drake Park
About This Home
We are pleased to present the exclusive opportunity to acquire to 4 units withing walking distance to Prime Downtown Long Beach. The property is comprised of 4 units with an ideal unit mix of (3) 1 bed 1 baths & (1) 2 bed 2 baths and a bonus room & kitchenette area. With excellent proximity to shopping, entertainment districts and restaurants, this community is an attractive destination for vacations, business trips and urban young professionals making it a unique opportunity for short-and long-term rentals alike. This is an incredible opportunity for a first time home buyer to take advantage of the generous City, State, and private Down Payment Assistance Grants while having their tenants subsidize their mortgage. Ask us how you can begin your generational wealth journey today!
Listing Agent
West Shores Realty, Inc. Brokerage Phone: 626-408-4420 License #02036524 Listed on: 07/31/2025
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $6,528
Year Built
- Built in 1946
Lot Details
- 4,498 Sq Ft Lot
- No Common Walls
- Sprinkler System
- Front Yard
- Density is up to 1 Unit/Acre
Parking
- 1 Car Garage
Home Design
- Quadruplex
- Entry on the 1st floor
Interior Spaces
- 2,592 Sq Ft Home
- 2-Story Property
- Laundry Room
Bedrooms and Bathrooms
- 4 Bedrooms
- 5 Bathrooms
Outdoor Features
- Exterior Lighting
Listing and Financial Details
- Legal Lot and Block 4 / 153
- Tax Tract Number 575
- Assessor Parcel Number 7272016024
- $759 per year additional tax assessments
- Seller Considering Concessions
Community Details
Overview
- 4 Units
- Willmore District Subdivision
Amenities
- Laundry Facilities
Building Details
- 4 Separate Electric Meters
- 4 Separate Gas Meters
- 1 Separate Water Meter
- Gardener Expense $800
- Insurance Expense $3,240
- Maintenance Expense $3,131
- Water Sewer Expense $2,400
- New Taxes Expense $11,875
- Operating Expense $21,446
- Gross Income $78,273
- Net Operating Income $53,305
Map
Home Values in the Area
Average Home Value in this Area
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 | $6,528 | $471,942 | $332,481 | $139,461 |
| 2024 | $6,528 | $462,689 | $325,962 | $136,727 |
| 2023 | $6,413 | $453,618 | $319,571 | $134,047 |
| 2022 | $6,032 | $444,724 | $313,305 | $131,419 |
| 2021 | $5,895 | $436,005 | $307,162 | $128,843 |
| 2019 | $5,811 | $423,854 | $298,052 | $125,802 |
| 2018 | $5,667 | $417,986 | $292,208 | $125,778 |
| 2016 | $5,214 | $401,008 | $280,862 | $120,146 |
| 2015 | $5,013 | $394,986 | $276,644 | $118,342 |
| 2014 | $4,996 | $387,249 | $271,225 | $116,024 |
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 07/31/2025 07/31/25 | For Sale | $950,000 | -- | $367 / Sq Ft |
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Grant Deed | $385,500 | Progressive Title Company | |
| Interfamily Deed Transfer | -- | -- | |
| Grant Deed | $279,000 | North American Title Co | |
| Grant Deed | $192,000 | North American Title Co |
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Open | $242,700 | New Conventional | |
| Closed | $289,125 | New Conventional | |
| Previous Owner | $223,200 | No Value Available | |
| Previous Owner | $172,800 | No Value Available |
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: SB25172198
APN: 7272-016-024
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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
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