NOT LISTED FOR SALE
6 Beds
5 Baths
5,020 Sq Ft
3,983 Sq Ft Lot

Last Sold May 26, 2012

Last sale price $630,500 $126 Per Sq Ft

17 Days on Market

Highlights

  • 0.09 Acre Lot
  • 5-minute walk to 1St Street Station
  • No Heating
  • Long Beach Polytechnic High School Rated A
  • Contemporary Architecture

About This Home

As of May 2012

6- Unit apartment bldg located in the highly desired East Village Arts District of Long Beach. Front bldg has two 2-bedroom units, and two 1-bedrooms with large living rooms. 2nd bldg has 2 studio units in the rear of the property (one upper unit). All units equipped with stoves, separate water heaters, and the 1 and 2 bedrooms have laundry hookups. Located just two blocks to Ocean Blvd, shopping, restaurants, and nearby bus line. **No Rent Control** Good opportunity for first time investor! Property is located in Downtown Highly Desired Village Arts District of Long Beach. Located near the Port of Long Beach & The Middle Harbor Redevelopment Project. Which just announced a huge deal with Orient Overseas Container Line that could make LB the nations busiest seaport and create 14,000 permanent jobs.

Last Agent to Sell the Property

Michael Simpson

License #01014739 Listed on: 01/24/2012

Last Buyer's Agent

Bill Boyd

Keller Williams Pacific Estate License #00770747

Keller Williams Pacific Estate

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1921

Lot Details

  • 3,983

Home Design

  • 5,020 Sq Ft Home
  • Contemporary Architecture
  • Stucco

Bedrooms and Bathrooms

  • 6 Bedrooms
  • 5 Bathrooms

Additional Features

  • 3,983 Sq Ft Lot
  • No Heating

Listing and Financial Details

  • Tax Block 93
  • Assessor Parcel Number 7281015035

Community Details

Overview

  • 2 Buildings
  • 6 Units

Building Details

  • 5 Separate Electric Meters
  • 5 Separate Gas Meters
  • 1 Separate Water Meter
  • Electric Expense $30
  • Insurance Expense $900
  • Pest Control $60
  • Trash Expense $45
  • Water Sewer Expense $200
  • New Taxes Expense $7,968
  • Gross Income $5,500
  • Net Operating Income $40,163

Property Details

Home Type

Multi-Family

Year Built

Built in 1921

Lot Details

0

Listing Details

  • Assessments: No
  • CapRate: 6.50
  • View: No
  • Water Sewer Expenses: 200.00
  • Architectural Style: Contemporary
  • Property Type: Residential Income
  • Parcel Number: 7281015035
  • Year Built: 1921
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Fireplace: No
  • Appliances: No
  • Levels: Two
  • Price Per Square Foot: 125.60

Exterior Features

  • Pool Private: No
  • Spa: No
  • Construction Materials: Stucco

Garage/Parking

  • Parking: No

Utilities

  • Heating: No
  • Laundry: No
  • Pest Control Expense: 60.00
  • Trash Expense: 45.00

Condo/Co-op/Association

  • Senior Community: No

Lot Info

  • Lot Size Sq Ft: 3983.00
  • Lot Size Acres: 0.0910

Multi Family

  • Electric Expense: 30.00
  • Gross Income: 5500.00
  • Gross Multiplier: 9.36
  • Gross Scheduled Income: 66000.00
  • Gross Spendable Income: 11824.00
  • Insurance Expense: 900.00
  • Lot Size Area: 3983.0000 Square Feet
  • Net Operating Income: 40163.00
  • Number Of Separate Electric Meters: 5
  • Number Of Separate Gas Meters: 5
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 6
  • Operating Expense: 21945.00
  • Operating Expense Percent: 35.00
  • Vacancy Allowance Rate: 5.00

Tax Info

  • New Taxes Expense: 7968.00
  • Tax Area: 11933
  • Tax Block: 93
  • Tax Lot: 0.
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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 List to Sale Price per Sq Ft
05/26/2012 05/26/12 Sold $630,500 -1.1% $126 / Sq Ft
02/10/2012 02/10/12 Pending -- -- --
01/24/2012 01/24/12 For Sale $637,500 -- $127 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

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 $11,935 $791,933 $452,175 $339,758
2024 $11,935 $776,406 $443,309 $333,097
2023 $11,697 $761,183 $434,617 $326,566
2022 $11,017 $746,259 $426,096 $320,163
2021 $10,566 $731,628 $417,742 $313,886
2019 $10,381 $710,469 $405,352 $305,117
2018 $10,084 $696,549 $397,404 $299,145
2016 $9,274 $668,983 $381,973 $287,010
2015 $8,921 $658,935 $376,236 $282,699
2014 $8,869 $646,029 $368,867 $277,162
Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: P809823

California Regional Multiple Listing Service (CRMLS)