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

Sale Details

Date 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

3,983 Sq Ft Lot

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

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
05/26/2012 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

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
2025 $12,501 $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)
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