NOT LISTED FOR SALE

507 Coronado Ave Long Beach, CA 90814

Bluff Heights Neighborhood

Estimated Value: $1,693,000 - $1,824,942

9 Beds
5 Baths
4,431 Sq Ft
$393/Sq Ft Est. Value

Last Sold June 17, 2016

Last sale price $1,150,500 $260 Per Sq Ft

Est. 51% increase in value since last sale

Current estimated payment $10,592/month

11 Days on Market

About This Home

As of June 2016

Spanish Style 4 Unit Complex Located on Coronado Avenue, Situated a few Miles from the Ocean, Dog Beach and Desirable 2nd Street Eateries, Close Proximity to Long Beach State College and Queen Mary Harbor, Two Story Building features Long Cement Driveway which Leads to Detached 5 Car Garages, Front Unit is a Single Level, 1400 Sq. Ft., 3 Bedrooms and 2 Baths, Nice Floor Plan, Spacious Living Room, Cozy Brick Fireplace, Lots of Windows Open to Kitchen, Breakfast Bar, Tiled Counters, Breakfast Nook, spacious Master Bedroom with Private Bath, Interior Laundry Room, Private Front Yard, Small Gated Rear Yard plus 2 car detached garage, 3 Other Units are approximately 1000 Sq. Ft., 2 Bedrooms and 1.5 Bathrooms each, nice floor plans, two bedroom units each have a one car detached Garage, Laundry room for 3 other units with own electric meter, new owner has the option to install coin operated machines (currently not being used) walking distance to shopping and public transportation, close to desirable Belmont Shores, this area is not located in rent controlled area, High demand rental area, great investment opportunity, complex features 9 bedrooms, 8 baths, built 1972

Last Agent to Sell the Property

Anthony De La Vara Jr.

Keller Williams OC Coastal License #01043900 Listed on: 05/01/2016

Last Buyer's Agent

Ronit Bendavid

Keller Williams Luxury License #01311212

Keller Williams Luxury

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1973

Lot Details

  • 6,751 Sq Ft Lot
  • Two or More Common Walls
  • No Landscaping

Parking

  • 5 Car Garage

Home Design

  • Property Attached

Interior Spaces

  • 4,431 Sq Ft Home
  • Living Room with Fireplace

Bedrooms and Bathrooms

  • 9 Bedrooms
  • 5 Bathrooms

Outdoor Features

  • Exterior Lighting

Listing and Financial Details

  • Tenant pays for cable TV, electricity
  • Tax Lot 10
  • Assessor Parcel Number 7257004012

Community Details

Overview

  • 4 Units

Building Details

  • 3 Leased Units
  • 5 Separate Electric Meters
  • 1 Separate Water Meter
  • Gross Income $2,925

Property Details

Home Type

Multi-Family

Year Built

Built in 1973

Lot Details

0

Parking

5

Listing Details

  • Property Attached: Yes
  • Subdivision Name Other: Eastside (ES)
  • Property Type: Residential Income
  • Parcel Number: 7257004012
  • Year Built: 1973
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Fireplace: Yes
  • Common Walls: 2+ Common Walls
  • Fireplace Features: Living Room
  • Levels: Two
  • Price Per Square Foot: 259.65

Exterior Features

  • Pool Private: No

Garage/Parking

  • Garage Spaces: 5.00
  • Total Parking Spaces: 5.00

Utilities

  • Utilities: Sewer Available
  • Water Source: Public

Condo/Co-op/Association

  • Community Features: Sidewalks, Street Lights

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: No Landscaping
  • Lot Size Sq Ft: 6751.00
  • Price Per Lot Square Foot: 170.42

Rental Info

  • Tenant Pays: Cable TV, Electricity

Multi Family

  • Average2 Bed Area: 1000
  • Average3 Bed Area: 1400
  • Gross Income: 2925.00
  • Gross Scheduled Income: 35100.00
  • Number Of Separate Electric Meters: 5
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 3
  • Number Of Units Total: 4
  • Number With Range: 5
  • Rent Control: No
  • Total Actual Rent: 2925.00

Tax Info

  • Tax Lot: 10
  • Tax Tract Number: 0000

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Apr 1, 2019
Sold by
Ira Administrationrs Inc
Bought by
Wade Jeffrey Chernick & Sondra Elaine Ch
Current Estimated Value
$1,741,486

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$553,163
Outstanding Balance
$483,330
Interest Rate
4%
Mortgage Type
Commercial
Estimated Equity
$1,258,156

Purchase Details

Listed on
May 1, 2016
Closed on
Jun 3, 2016
Sold by
Stephenson Deborah M
Bought by
Ira Administrators Inc and Wade Chernick Sep
Seller's Agent
Anthony De La Vara Jr.
Keller Williams OC Coastal
Buyer's Agent
Ronit Bendavid
Keller Williams Luxury
List Price
$1,125,000
Sold Price
$1,150,500
Premium/Discount to List
$25,500
2.27%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
4.43%

Purchase Details

Closed on
Feb 17, 2007
Sold by
Stephenson Deborah M and Chambles Leslie Warren
Bought by
Stephenson Deborah M

Purchase Details

Closed on
Jan 25, 2003
Sold by
Stephenson Deborah M and Estate Of Ruth Maxine Chambles
Bought by
Stephenson Deborah M and Chambless Family Trust

Purchase Details

Closed on
Jul 2, 2001
Sold by
Stephenson Deborah M and Chambless Family Trust
Bought by
Chambless Ruth M

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$260,000
Interest Rate
7.24%

Purchase Details

Closed on
Oct 29, 1998
Sold by
Chambless Trust and Ruth M
Bought by
Chambless Ruth M

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$40,000
Interest Rate
6.6%
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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Average Value
Not Available
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
Wade Jeffrey Chernick & Sondra Elaine Ch -- First American Title Company
Ira Administrators Inc $1,150,500 Chicago Title Company
Stephenson Deborah M -- None Available
Stephenson Deborah M -- Old Republic Title Company
Chambless Ruth M -- Fidelity Title
Chambless Ruth M -- Fidelity National Title
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Wade Jeffrey Chernick & Sondra Elaine Ch $553,163
Previous Owner Chambless Ruth M $260,000
Previous Owner Chambless Ruth M $40,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
06/17/2016 06/17/16 Sold $1,150,500 +2.3% $260 / Sq Ft
05/12/2016 05/12/16 Pending -- -- --
05/01/2016 05/01/16 For Sale $1,125,000 -- $254 / 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 $17,822 $1,361,953 $591,896 $770,057
2024 $17,822 $1,335,249 $580,291 $754,958
2023 $17,518 $1,309,068 $568,913 $740,155
2022 $16,453 $1,283,401 $557,758 $725,643
2021 $15,903 $1,258,237 $546,822 $711,415
2020 $15,861 $1,245,937 $541,216 $704,721
2019 $15,677 $1,221,519 $530,604 $690,915
2018 $15,204 $1,197,580 $520,200 $677,380
2016 $2,667 $172,479 $36,225 $136,254
2015 $2,577 $169,889 $35,681 $134,208
2014 $2,584 $166,563 $34,983 $131,580
Source: Public Records

Agents Affiliated with this Home

  • A

    Seller's Agent in 2016

    Anthony De La Vara Jr.

    Keller Williams OC Coastal

    (626) 333-8768

    136 Total Sales

    Anthony De La Vara Jr.
    Section Image

  • R

    Buyer's Agent in 2016

    Ronit Bendavid

    Keller Williams Luxury

    (818) 480-8848

    6 Total Sales

    Ronit Bendavid
    Section Image
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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: TR16093123

California Regional Multiple Listing Service (CRMLS)

APN: 7257-004-012

California Los Angeles County Long Beach 90814 Bluff Heights

507 Coronado Ave, Long Beach, CA

Not Listed for Sale

MultiFamily

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