Seller's Agent in 2019
Matt Mahowald
Buckingham Investments, Inc
(310) 982-7055
28 Total Sales
515 W 8th St Long Beach, CA 90813
Willmore NeighborhoodEstimated Value: $836,000 - $1,089,000
3
Beds
3
Baths
1,844
Sq Ft
$525/Sq Ft
Est. Value
Highlights
- Golf Course Community
- Property is near a park
- Built-In Features
- Open Floorplan
- No HOA
- 4-minute walk to Drake Park
About This Home
As of October 2019Turnkey opportunity! This clean and well-maintained triplex is currently performing at 13.2 GRM, with a 5.4% Cap Rate - cash flowing and outperforming the local market! The property consists of three large 1bed/1bath units, one 1car garage, and a community laundry room. Each unit is in great condition, offers a functional layout, and is separately metered for gas and electricity. The first floor unit has a larger bonus room, which adds value for the tenants and increases rent. The building is in great condition with recent improvements made, adding plenty of value for the new owner. Long Beach's first designated historic district, Willmore City / Drake Park Historic District, is a community rich in history, character, and charm. This dense rental market is perfect for investors who enjoy low vacancy rates, high market rental rates, and strong long-term appreciation. Close proximity to Downtown Long Beach provides maximum accessibility, with plenty of public transportation, freeway access, and a high walk score. The beach, parks, and other community amenities/ attractions like the Queen Marry and Aquarium are just minutes away! Long Beach is resurging due to hundreds of millions of dollars invested in private and public developments, a growing local economy with strong employment, and the increasing demand to "live, work, and play" in this remarkable community. This easy to own asset is a great addition to any portfolio!
Last Agent to Sell the Property
Buckingham Investments, Inc License #02001732 Listed on: 08/24/2019
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1922
Lot Details
- 1,750 Sq Ft Lot
- Two or More Common Walls
Parking
- 1 Car Garage
Home Design
- Property Attached
Interior Spaces
- 1,844 Sq Ft Home
- 2-Story Property
- Open Floorplan
- Built-In Features
- Laundry Room
Bedrooms and Bathrooms
- 3 Bedrooms
- 3 Bathrooms
Outdoor Features
- Exterior Lighting
Location
- Property is near a park
- Property is near public transit
Utilities
- Wall Furnace
- Natural Gas Connected
Listing and Financial Details
- Tenant pays for electricity, gas
- Legal Lot and Block 4 / 153
- Tax Tract Number 11934
- Assessor Parcel Number 7272016023
Community Details
Overview
- No Home Owners Association
- 3 Units
Amenities
- Laundry Facilities
Recreation
- Golf Course Community
- Park
- Dog Park
- Water Sports
- Bike Trail
Building Details
- 3 Leased Units
- 4 Separate Electric Meters
- 4 Separate Gas Meters
- 1 Separate Water Meter
- Electric Expense $120
- Fuel Expense $840
- Insurance Expense $1,200
- Pest Control $400
- Trash Expense $840
- Water Sewer Expense $840
- New Taxes Expense $8,750
- Operating Expense $13,230
- Gross Income $52,800
- Net Operating Income $38,022
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
Aug 24, 2019
Closed on
Sep 12, 2019
Sold by
Batt Jasmine
Bought by
Fox Maxwell A
Seller's Agent
Matt Mahowald
Buckingham Investments, Inc
Buyer's Agent
David Rosenfeld
Advantage Real Estate
List Price
$700,000
Sold Price
$687,500
Premium/Discount to List
-$12,500
-1.79%
Current Estimated Value
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$280,898
Avg. Annual Appreciation
5.67%
Original Mortgage
$515,625
Outstanding Balance
$449,774
Interest Rate
3.4%
Mortgage Type
New Conventional
Estimated Equity
$518,624
Purchase Details
Closed on
Apr 17, 2018
Sold by
Charnell James P
Bought by
Batt Jasmine
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$505,750
Interest Rate
4.4%
Mortgage Type
New Conventional
Purchase Details
Listed on
Apr 7, 2016
Closed on
May 3, 2016
Sold by
Fti Holdings Inc
Bought by
Charnell James P and Charnell Maria D
Seller's Agent
Gene Tsair
Legacy Real Estate
Buyer's Agent
Cody Charnell
Sage Real Estate Group, Inc.
List Price
$399,900
Sold Price
$420,000
Premium/Discount to List
$20,100
5.03%
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
9.10%
Original Mortgage
$315,000
Interest Rate
3.58%
Mortgage Type
New Conventional
Purchase Details
Closed on
May 6, 2009
Sold by
Lewis David
Bought by
Fti Holdings Inc
Purchase Details
Closed on
Oct 19, 2001
Sold by
Federal National Mortgage Association
Bought by
Sage Investment Inc
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$139,000
Interest Rate
6.84%
Purchase Details
Closed on
Oct 3, 2001
Sold by
Hussain Syed
Bought by
Federal National Mortgage Association
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$139,000
Interest Rate
6.84%
Purchase Details
Closed on
Aug 20, 2001
Sold by
Hussain Syed
Bought by
Washington Mutual Home Loans Inc
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$139,000
Interest Rate
6.84%
Purchase Details
Closed on
May 16, 2000
Sold by
Shirazi Fakhra
Bought by
Hussain Syed
Purchase Details
Closed on
May 4, 2000
Sold by
Oneel Hussain Deirdre
Bought by
Hussain Syed
Purchase Details
Closed on
May 1, 2000
Sold by
Shirazi Javeed Raza
Bought by
Shirazi Fakhra
Purchase Details
Closed on
Jan 28, 2000
Sold by
Development Secretary Of Housing And Urban
Bought by
Shirazi Fakhra and Hussain Syed
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$85,000
Interest Rate
8.25%
Mortgage Type
Stand Alone First
Purchase Details
Closed on
Jun 5, 1998
Sold by
Norwest Mtg Inc
Bought by
Hud
Purchase Details
Closed on
Jan 21, 1997
Sold by
United Car Wash Corp
Bought by
Desouza Marta Feitosa
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$171,677
Interest Rate
7.58%
Mortgage Type
FHA
Purchase Details
Closed on
Jan 2, 1997
Sold by
Ramirez Hector D
Bought by
United Car Wash Corp
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$171,677
Interest Rate
7.58%
Mortgage Type
FHA
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area
Home Values in the Area
Average Home Value in this Area
Purchase History
| Date | Buyer | Sale Price | Title Company |
|---|---|---|---|
| Fox Maxwell A | $687,500 | Orange Coast Title Company | |
| Batt Jasmine | $595,000 | First American Title Company | |
| Charnell James P | $420,000 | Fidelity National Title | |
| Fti Holdings Inc | $178,000 | North American Title Company | |
| Sage Investment Inc | $111,000 | Commonwealth Land Title Co | |
| Federal National Mortgage Association | $126,371 | Fidelity National Title | |
| Washington Mutual Home Loans Inc | $126,371 | Fidelity National Title Ins | |
| Hussain Syed | -- | -- | |
| Hussain Syed | -- | -- | |
| Hussain Syed | -- | -- | |
| Shirazi Fakhra | -- | Provident Title | |
| Shirazi Fakhra | $103,500 | Provident Title | |
| Hud | -- | Benefit Land Title Ins Co | |
| Norwest Mtg Inc | $183,669 | Benefit Land Title Ins Co | |
| Desouza Marta Feitosa | $176,000 | Commonwealth Land Title Co | |
| United Car Wash Corp | $84,000 | Commonwealth Title |
Source: Public Records
Mortgage History
| Date | Status | Borrower | Loan Amount |
|---|---|---|---|
| Open | Fox Maxwell A | $515,625 | |
| Previous Owner | Batt Jasmine | $505,750 | |
| Previous Owner | Charnell James P | $315,000 | |
| Previous Owner | Sage Investment Inc | $139,000 | |
| Previous Owner | Shirazi Fakhra | $85,000 | |
| Previous Owner | Desouza Marta Feitosa | $171,677 |
Source: Public Records
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft | Prior Sale |
|---|---|---|---|---|---|
| 10/16/2019 10/16/19 | Sold | $687,500 | -1.8% | $373 / Sq Ft | |
| 08/24/2019 08/24/19 | For Sale | $700,000 | +66.7% | $380 / Sq Ft | |
| 05/27/2016 05/27/16 | Sold | $420,000 | +5.0% | $228 / Sq Ft | View Prior Sale |
| 04/11/2016 04/11/16 | Pending | -- | -- | -- | |
| 03/21/2016 03/21/16 | For Sale | $399,900 | -- | $217 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
Tax History Compared to Growth
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 | $9,686 | $751,879 | $486,671 | $265,208 |
| 2024 | $9,686 | $737,137 | $477,129 | $260,008 |
| 2023 | $9,520 | $722,684 | $467,774 | $254,910 |
| 2022 | $8,935 | $708,514 | $458,602 | $249,912 |
| 2021 | $8,753 | $694,622 | $449,610 | $245,012 |
| 2019 | $7,865 | $606,900 | $428,400 | $178,500 |
| 2018 | $5,722 | $436,968 | $301,716 | $135,252 |
| 2016 | $3,427 | $261,073 | $184,928 | $76,145 |
| 2015 | $3,296 | $257,153 | $182,151 | $75,002 |
| 2014 | $3,286 | $252,116 | $178,583 | $73,533 |
Source: Public Records
Agents Affiliated with this Home
-
Matt Mahowald
-
David Rosenfeld
D
Buyer's Agent in 2019
David Rosenfeld
Advantage Real Estate
(310) 261-8692
-
Gene Tsair
G
Seller's Agent in 2016
Gene Tsair
Legacy Real Estate
(714) 644-9500
48 Total Sales
-
Mike Vartanian
Seller Co-Listing Agent in 2016
Mike Vartanian
Legacy Real Estate
(714) 584-2700
75 Total Sales
-
Cody Charnell
Buyer's Agent in 2016
Cody Charnell
Sage Real Estate Group, Inc.
(562) 896-3851
3 in this area
47 Total Sales
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: SB19202951
APN: 7272-016-023
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Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
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