NOT LISTED FOR SALE

Estimated Value: $1,342,000 - $1,475,000

2 Beds
2 Baths
2,575 Sq Ft
$551/Sq Ft Est. Value

Last Sold June 18, 2024

Last sale price $1,370,000 $532 Per Sq Ft

Est. 4% increase in value since last sale

Current estimated payment $7,896/month

8 Days on Market

Highlights

  • Park
  • Mark Twain Elementary School Rated A-
  • Laundry Room

About This Home

As of June 2024

Wonderful pride of ownership four unit building in desired Lakewood Village. This sharp property sits on a very generous 9,954 sq. ft. lot with plenty of upside potential. Recent upgrades include: newer water heaters, $10,000 approx. in wood work recently completed, Tuff Shed added on slab in the rear of the property, newer fencing added. Additional features include: ample yard space for each unit with direct access, tiled kitchen counters with one being done in quartz, tile showers, auto irrigation system, separate meters for electric and gas, upgraded plumbing and more. This is a 5 star location with panoramic park views. You will never be in need of great tenant applications, as this property is just a short walk to Long Beach City College. Freeway access is wonderful as is the proximity to dining, entertainment, Heartwell Golf Course, Long Beach Airport and more. This is a great property for potential additions, as there is plenty of room around the lot to build, as well as huge upside in rents. All units are 1 bedrooms, with 2 identical floorplans in front (smaller) and 2 identical floorplans in back (larger). 4 parking spaces are located on the north side of the property.

Last Agent to Sell the Property

Brandon Caldarella

First Team Real Estate Brokerage Phone: 562-522-4515 License #01270581 Listed on: 04/26/2024

First Team Real Estate

Last Buyer's Agent

Dave Pedneault

First Team Real Estate License #01031974

First Team Real Estate

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1944

Lot Details

  • 9,956 Sq Ft Lot
  • Two or More Common Walls
  • Density is up to 1 Unit/Acre

Home Design

  • Quadruplex
  • Entry on the 2nd floor

Interior Spaces

  • 2,575 Sq Ft Home
  • 2-Story Property
  • Laundry Room

Bedrooms and Bathrooms

  • 2 Bedrooms
  • 2 Bathrooms

Parking

  • 4 Open Parking Spaces
  • 4 Parking Spaces
  • Parking Available
  • Combination Of Materials Used In The Driveway
  • Driveway Level
  • Parking Lot

Location

  • Suburban Location

Listing and Financial Details

  • Tenant pays for electricity, gas
  • Legal Lot and Block 12 / E
  • Tax Tract Number 1
  • Assessor Parcel Number 7183004009
  • $853 per year additional tax assessments

Community Details

Overview

  • 4 Units
  • Lakewood Village Subdivision

Recreation

  • Park

Building Details

  • 4 Separate Electric Meters
  • 4 Separate Gas Meters
  • 1 Separate Water Meter
  • Fuel Expense $1
  • Gardener Expense $1,200
  • Insurance Expense $4,000
  • Maintenance Expense $4,000
  • Other Expense $1,692
  • Pest Control $828
  • Trash Expense $1
  • Water Sewer Expense $1
  • New Taxes Expense $17,600
  • Operating Expense $33,268
  • Net Operating Income $48,332

Property Details

Home Type

Multi-Family

Year Built

Built in 1944

Lot Details

0

Listing Details

  • Property Attached: Yes
  • Subdivision Name Other: Lakewood Village (LKVL)
  • Water Sewer Expenses: 1.00
  • Zoning: LBR34
  • Property Sub Type: Quadruplex
  • Property Type: Residential Income
  • Gardener Expense: 1200.00
  • Parcel Number: 7183004009
  • Year Built: 1944
  • Special Features: None

Interior Features

  • Fireplace: No
  • Stories: 2
  • Common Walls: 2+ Common Walls
  • Entry Level: 2
  • Levels: Two
  • Price Per Square Foot: 532.04

Exterior Features

  • Pool Private: No

Garage/Parking

  • Parking: Yes
  • Parking Features: Driveway - Combination, Driveway Level, Parking Space, Uncovered
  • Total Parking Spaces: 4.00
  • Uncovered Spaces: 4.00

Utilities

  • Laundry: Yes
  • Pest Control Expense: 828.00
  • Sewer: Public Sewer
  • Trash Expense: 1.00
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No
  • Community Features: Curbs, Park, Sidewalks, Suburban

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: 0-1 Unit/Acre
  • Lot Size Sq Ft: 9956.00
  • Lot Size Acres: 0.2286
  • Latitude Manual: 33.83264000

Rental Info

  • Tenant Pays: Electricity, Gas

Multi Family

  • Fuel Expense: 1.00
  • Gross Scheduled Income: 81600.00
  • Insurance Expense: 4000.00
  • Lot Size Area: 9956.0000 Square Feet
  • Maintenance Expense: 4000.00
  • Net Operating Income: 48332.00
  • Number Of Separate Electric Meters: 4
  • Number Of Separate Gas Meters: 4
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 4
  • Number With Range: 4
  • Operating Expense: 33268.00
  • Other Expense: 1692.00
  • Other Expense Description: Utilties
  • Rent Control: No
  • Total Expenses: 33268.00
  • Vacancy Allowance Rate: 3.00

Tax Info

  • New Taxes Expense: 17600.00
  • Tax Block: E
  • Tax Census Tract: 5712.01
  • Tax Lot: 12
  • Tax Tract Number: 1
  • TaxOtherAnnualAssessmentAmount: 853.00

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Feb 6, 2025
Sold by
Aoiya Real Estate Llc
Bought by
Li Lan
Current Estimated Value
$1,419,984

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,091,250
Outstanding Balance
$1,084,689
Interest Rate
6.85%
Mortgage Type
New Conventional
Estimated Equity
$335,295

Purchase Details

Listed on
Apr 26, 2024
Closed on
Jun 17, 2024
Sold by
Li Lan
Bought by
Aoiya Real Estate Llc
Seller's Agent
Brandon Caldarella
First Team Real Estate
Buyer's Agent
Dave Pedneault
First Team Real Estate
List Price
$1,349,000
Sold Price
$1,370,000
Premium/Discount to List
$21,000
1.56%
Views
36

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
2.37%
Original Mortgage
$1,096,000
Interest Rate
7.22%
Mortgage Type
New Conventional

Purchase Details

Listed on
Apr 26, 2024
Closed on
Jun 11, 2024
Sold by
Mee Edward Westly and Mee Steven James
Bought by
Li Lan
Seller's Agent
Brandon Caldarella
First Team Real Estate
Buyer's Agent
Dave Pedneault
First Team Real Estate
List Price
$1,349,000
Sold Price
$1,370,000
Premium/Discount to List
$21,000
1.56%
Views
36

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,096,000
Interest Rate
7.22%
Mortgage Type
New Conventional

Purchase Details

Closed on
Oct 22, 1990
Sold by
Darlene Joyce Mee Trust
Bought by
Mee Edward Westly and Mee Steven James
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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Average Value
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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
Li Lan -- --
Aoiya Real Estate Llc -- None Listed On Document
Aoiya Real Estate Llc -- --
Li Lan $1,370,000 Western Resources Title Compan
Mee Edward Westly -- Western Resources Title
Mee Edward Westly -- None Listed On Document
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Li Lan $1,091,250
Previous Owner Li Lan $1,096,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
06/18/2024 06/18/24 Sold $1,370,000 +1.6% $532 / Sq Ft
05/04/2024 05/04/24 Pending -- -- --
04/26/2024 04/26/24 For Sale $1,349,000 -- $524 / 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 $5,475 $1,397,400 $1,020,000 $377,400
2024 $5,475 $370,916 $148,361 $222,555
2023 $5,378 $363,644 $145,452 $218,192
2022 $5,064 $356,514 $142,600 $213,914
2021 $4,946 $349,524 $139,804 $209,720
2019 $4,875 $339,158 $135,658 $203,500
2018 $4,699 $332,509 $132,999 $199,510
2016 $4,323 $319,600 $127,836 $191,764
2015 $4,162 $314,800 $125,916 $188,884
2014 $4,155 $308,635 $123,450 $185,185
Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PW24082788

California Regional Multiple Listing Service (CRMLS)

APN: 7183-004-009