$615,000
SOLD FEB 17, 2016
8 Beds
4 Baths
3,456 Sq Ft
3,107 Sq Ft Lot

Recently Sold

$178 Per Sq Ft

9% Below List Price

211 Days on Market

Highlights

  • All Bedrooms Downstairs
  • Granite Countertops
  • Tile Flooring
  • Long Beach Polytechnic High School Rated A
  • No HOA
  • Garden

About This Home

As of February 2016

Great income property! All large 2 bed 1 bath units approximately 775 Square feet each. Low maintenance building. All units have separate meters for gas and electric. Owner pays water. Front yard is low water through the Long Beach Lawn to Garden Program. Established tenants with solid property management company in place. Most units upgraded with granite counter tops, newer paint, tile floors and tile in upgraded bathrooms. Large bedrooms with lots of closet space. Building offers great walkability for tenants. Walking distance to shopping on Long Beach Blvd and Atlantic, Long Beach Poly High School, Blue Line transit on Long Beach Blvd. Please do not disturb the tenants. Offer subject to interior inspection.

Last Agent to Sell the Property

William Larson

First Team Real Estate License #01373184 Listed on: 05/18/2015

Last Buyer's Agent

Pete Machin

eXp Realty of Greater Los Angeles License #01358372

eXp Realty of Greater Los Angeles

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $9,684

Year Built

  • Built in 1922

Lot Details

  • 3,107 Sq Ft Lot
  • Property fronts an alley
  • Two or More Common Walls
  • Chain Link Fence
  • Garden
  • Back and Front Yard
  • Density is up to 1 Unit/Acre

Home Design

  • Property Attached
  • Entry on the 1st floor
  • Turnkey
  • Raised Foundation
  • Fire Rated Drywall
  • Rolled or Hot Mop Roof
  • Partial Copper Plumbing
  • Stucco

Interior Spaces

  • 3,456 Sq Ft Home
  • 2-Story Property

Kitchen

  • Gas Range
  • Granite Countertops
  • Ceramic Countertops
  • Disposal

Flooring

  • Carpet
  • Tile

Bedrooms and Bathrooms

  • 8 Bedrooms
  • All Bedrooms Down
  • 4 Bathrooms

Additional Features

  • Exterior Lighting
  • Urban Location

Listing and Financial Details

  • Tax Lot 37
  • Assessor Parcel Number 7269034019

Community Details

Overview

  • No Home Owners Association
  • 4 Units

Building Details

  • 4 Leased Units
  • 4 Separate Electric Meters
  • 4 Separate Gas Meters
  • 1 Separate Water Meter
  • Gardener Expense $720
  • Insurance Expense $1,500
  • Professional Management Expense $2,500
  • Water Sewer Expense $1,364
  • New Taxes Expense $8,437
  • Gross Income $4,639
  • Net Operating Income $40,896

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$9,684

Year Built

Built in 1922

Lot Details

0

Listing Details

  • Assessments: No
  • CapRate: 5.50
  • Inclusions: owner owned appliances
  • Professional Management Expense: 2500.00
  • Property Attached: Yes
  • Road Frontage Type: Alley, City Street
  • Road Surface Type: Alley Paved
  • View: No
  • Water Sewer Expenses: 1364.00
  • Property Condition: Turnkey
  • Property Type: Residential Income
  • Gardener Expense: 720.00
  • Parcel Number: 7269034019
  • Year Built: 1922
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Interior Amenities: Ceramic Counters, Granite Counters, Copper Plumbing Partial, Tile Counters
  • Stories: 2
  • Entry Location: Ground Level With Steps
  • Common Walls: 2+ Common Walls
  • Flooring: Carpet, Tile
  • Appliances: Yes
  • Entry Level: 1
  • Levels: Two
  • Price Per Square Foot: 177.95
  • Room Type: All Bedrooms Down

Exterior Features

  • Foundation: Raised
  • Fencing: Chain Link
  • Pool Private: No
  • Roof: Rolled/Hot Mop
  • Spa: No
  • Construction Materials: Drywall Walls, Stucco

Garage/Parking

  • Parking: No

Utilities

  • Utilities: Sewer Available
  • Appliances: Disposal, Gas Range, Refrigerator
  • Water Source: Public

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Community Features: Sidewalks, Street Lights, Urban

Lot Info

  • Lot Features: Back Yard, 0-1 Unit/Acre, Front Yard, Garden
  • Lot Size Sq Ft: 3107.00
  • Price Per Lot Square Foot: 197.94
  • Lot Size Acres: 0.0710

Multi Family

  • Average2 Bed Area: 777
  • Gross Income: 4639.00
  • Gross Multiplier: 12.80
  • Gross Scheduled Income: 55668.00
  • Insurance Expense: 1500.00
  • Lot Size Area: 3107.0000 Square Feet
  • Net Operating Income: 40896.00
  • Number Of Separate Electric Meters: 4
  • Number Of Separate Gas Meters: 4
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 4
  • Number Of Units Total: 4
  • Operating Expense: 14771.00
  • Rent Control: No
  • Total Actual Rent: 4639.00

Tax Info

  • New Taxes Expense: 8437.00
  • Taxes Percent: 1.25
  • Tax Lot: 37
  • Tax Year: 2014

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
May 31, 2023
Sold by
Worku Anteneh Engidayehu
Bought by
Anteneh Engidayehu Worku Living Trust
Current Estimated Value
$1,079,286

Purchase Details

Listed on
May 18, 2015
Closed on
Feb 11, 2016
Sold by
Octagon Capital Llc
Bought by
Worku Anteneh E
Seller's Agent
William Larson
First Team Real Estate
Buyer's Agent
Pete Machin
eXp Realty of Greater Los Angeles
List Price
$675,000
Sold Price
$615,000
Premium/Discount to List
-$60,000
-8.89%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
5.32%
Original Mortgage
$461,250
Interest Rate
3.97%
Mortgage Type
New Conventional

Purchase Details

Closed on
Sep 20, 2012
Sold by
Lai Jeffrey and Lai Connie
Bought by
Octagon Capital Llc

Purchase Details

Listed on
Feb 6, 2012
Closed on
Jun 20, 2012
Sold by
Fannie Mae
Bought by
Lai Jeffrey and Lai Connie
Seller's Agent
Rick Robles
RE/MAX College Park Realty
Buyer's Agent
William Larson
First Team Real Estate
List Price
$392,900
Sold Price
$376,000
Premium/Discount to List
-$16,900
-4.3%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
7.76%
Original Mortgage
$282,000
Interest Rate
3.77%
Mortgage Type
New Conventional

Purchase Details

Closed on
Mar 28, 2011
Sold by
Garcia Maria
Bought by
Federal National Mortgage Association

Purchase Details

Closed on
Sep 26, 2006
Sold by
Jacobs W Peter W and Jacobs Johanna T
Bought by
Garcia Maria

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$572,000
Interest Rate
7.37%
Mortgage Type
New Conventional

Purchase Details

Closed on
Dec 3, 2003
Sold by
Jacobs W Peter W and Jacobs Johanna T
Bought by
Jacobs W Peter

Purchase Details

Closed on
Jul 9, 2003
Sold by
Puertas Francisco
Bought by
Jacobs W Peter

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$272,000
Interest Rate
4.38%
Mortgage Type
Negative Amortization

Purchase Details

Closed on
Aug 7, 2001
Sold by
Paredes Ana and Vega Oscar
Bought by
Puertas Francisco

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$183,340
Interest Rate
7.14%
Mortgage Type
FHA

Purchase Details

Closed on
Feb 9, 2000
Sold by
Friends For Friends Foundation
Bought by
Paredes Ana

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$184,479
Interest Rate
8.18%
Mortgage Type
FHA

Purchase Details

Closed on
Jul 23, 1999
Sold by
Hud
Bought by
Friends For Friends Foundation

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$110,600
Interest Rate
7.56%

Purchase Details

Closed on
Jan 14, 1999
Sold by
Homeside Lending Inc
Bought by
Hud

Purchase Details

Closed on
Aug 24, 1998
Sold by
Bustamente Mario
Bought by
Homeside Lending Inc

Purchase Details

Closed on
Jul 7, 1997
Sold by
West Coast Group Inc
Bought by
Bustamante Mario

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$259,101
Interest Rate
7.7%
Mortgage Type
FHA

Purchase Details

Closed on
Jun 11, 1997
Sold by
Fidelity Federal Bank Fsb
Bought by
West Coast Group Inc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$259,101
Interest Rate
7.7%
Mortgage Type
FHA

Purchase Details

Closed on
Mar 20, 1997
Sold by
Odar Charles J and Odar Carol A
Bought by
Fidelity Federal Bank Fsb and Fidelity Fsla
Source: Public Records

Range of Values:

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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 Type Sale Price Title Company
Deed -- None Listed On Document
Grant Deed $615,000 Fntg
Grant Deed -- None Available
Grant Deed $376,000 Old Republic Title Company
Trustee Deed $646,056 Landsafe Title
Grant Deed $715,000 Ticor Title Tustin
Interfamily Deed Transfer -- Equity Title Company
Grant Deed $340,000 Ticor Title Co
Individual Deed -- --
Grant Deed $186,000 --
Individual Deed $140,500 Provident Title
Grant Deed $280,575 Fidelity National Title Ins
Trustee Deed $280,575 Fidelity National Title Ins
Grant Deed $270,000 Commonwealth Land Title Co
Grant Deed $107,000 --
Trustee Deed $105,000 --
Source: Public Records

Mortgage History

Date Status Loan Amount Loan Type
Previous Owner $435,000 New Conventional
Previous Owner $458,700 New Conventional
Previous Owner $461,250 New Conventional
Previous Owner $282,000 New Conventional
Previous Owner $572,000 New Conventional
Previous Owner $272,000 Negative Amortization
Previous Owner $199,290 Unknown
Previous Owner $183,340 FHA
Previous Owner $184,479 FHA
Previous Owner $110,600 No Value Available
Previous Owner $259,101 FHA
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
01/17/2020 01/17/20 Rented $1,800 0.0% --
01/15/2020 01/15/20 Off Market $1,800 -- --
01/15/2020 01/15/20 Under Contract -- -- --
11/17/2019 11/17/19 For Rent $1,800 0.0% --
02/17/2016 02/17/16 Sold $615,000 -8.9% $178 / Sq Ft
12/15/2015 12/15/15 Pending -- -- --
05/18/2015 05/18/15 For Sale $675,000 +79.5% $195 / Sq Ft
06/25/2012 06/25/12 Sold $376,000 -4.3% $109 / Sq Ft
05/11/2012 05/11/12 Pending -- -- --
02/06/2012 02/06/12 For Sale $392,900 -- $114 / 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 $9,684 $728,028 $236,756 $491,272
2024 $9,684 $713,754 $232,114 $481,640
2023 $9,517 $699,760 $227,563 $472,197
2022 $8,943 $686,040 $223,101 $462,939
2021 $8,748 $672,589 $218,727 $453,862
2019 $8,623 $653,022 $212,241 $440,781
2018 $8,388 $640,226 $208,080 $432,146
2016 $5,210 $398,949 $180,376 $218,573
2015 $5,011 $392,957 $177,667 $215,290
2014 $4,993 $385,260 $174,187 $211,073
Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PW15113023

California Regional Multiple Listing Service (CRMLS)

APN: 7269-034-019