NOT LISTED FOR SALE
14 Beds
10 Baths
5,676 Sq Ft
6,754 Sq Ft Lot

Last Sold August 29, 2019

Last sale price $2,138,000 $377 Per Sq Ft

15 Days on Market

Highlights

  • Property is near public transit
  • Laundry Room
  • Radiant Heating System
  • Woodrow Wilson High School Rated A
  • Landscaped

About This Home

As of August 2019

Modern Living at 520 Ohio Ave., Long Beach

Unit Description:
520 Ohio Ave. offers stylish and recently updated apartments, featuring one-bedroom units with modern amenities perfect for todays lifestyle. Each unit comes equipped with sleek hardwood-style flooring, updated kitchens with stainless steel appliances, including refrigerators and electric stoves, and granite countertops. The spacious living areas feature ceiling fans for added comfort, while large windows fill the space with natural light. Bathrooms are contemporary with chic fixtures, a shower/tub combo, and updated vanities. With ample storage space, including mirrored closets, these units provide both comfort and functionality.

Property Description:
This contemporary multi-family building is a fresh and modern retreat, boasting clean lines and a welcoming façade. Residents enjoy the convenience of an on-site parking garage and easy access to their units, either via stairs or private entrances. The building is well-maintained with landscaped greenery, offering a pleasant living environment. The updated exterior blends a contemporary look with thoughtful design, making this property an ideal choice for those seeking a blend of style and practicality.

Neighborhood Description:
Located in the vibrant neighborhood of Eastside Long Beach, this property is ideally situated near many of the city's most exciting attractions. Enjoy quick access to trendy dining options, local cafes, and boutique shopping in the nearby Retro Row. Belmont Shore and Downtown Long Beach are just minutes away, offering beaches, bike paths, and a variety of outdoor activities. Public transit and major freeways are conveniently close, making commuting and exploring the rest of Long Beach or Los Angeles simple. The community offers the best of both worlds a tranquil place to call home with the energy of the city just around the corner.

Last Agent to Sell the Property

John Dumke

John Dumke, Broker License #01030015 Listed on: 06/20/2019

Last Buyer's Agent

John Dumke

John Dumke, Broker License #01030015 Listed on: 06/20/2019

Property Details

Home Type

  • Apartment

Year Built

  • Built in 1971

Lot Details

  • 6,754 Sq Ft Lot
  • No Common Walls
  • Landscaped

Parking

  • 4 Car Garage

Interior Spaces

  • 5,676 Sq Ft Home
  • 2-Story Property
  • Laundry Room

Bedrooms and Bathrooms

  • 14 Bedrooms
  • 10 Bathrooms

Utilities

  • Radiant Heating System
  • Sewer Paid

Additional Features

  • Exterior Lighting
  • Property is near public transit

Listing and Financial Details

  • Legal Lot and Block 6 / 1
  • Tax Tract Number 2
  • Assessor Parcel Number 7263023007

Community Details

Building Details

  • 8 Leased Units
  • 8 Separate Electric Meters
  • 8 Separate Gas Meters
  • 1 Separate Water Meter
  • Electric Expense $1,200
  • Insurance Expense $3,000
  • Professional Management Expense $8,676
  • Trash Expense $600
  • Water Sewer Expense $600
  • New Taxes Expense $28,000
  • Operating Expense $42,076
  • Gross Income $125,610
  • Net Operating Income $130,140

Additional Features

  • 8 Units
  • Laundry Facilities

Property Details

Home Type

Apartment

Year Built

Built in 1971

Lot Details

0

Parking

4

Listing Details

  • CapRate: 5.70
  • Professional Management Expense: 8676.00
  • Property Attached: No
  • Subdivision Name Other: Eastside (ES)
  • Water Sewer Expenses: 600.00
  • Zoning: LBR2N
  • Property Sub Type: Apartment
  • Property Type: Residential Income
  • Parcel Number: 7263023007
  • Year Built: 1971
  • Special Features: None

Interior Features

  • Stories: 2
  • Common Walls: No Common Walls
  • Levels: Two
  • Price Per Square Foot: 376.67

Exterior Features

  • Pool Private: No

Garage/Parking

  • Garage Spaces: 4.00
  • Total Parking Spaces: 4.00

Utilities

  • Heating: Yes
  • Laundry: Yes
  • Heating Type: Radiant
  • Laundry Features: Common Area
  • Sewer: Sewer Paid
  • Trash Expense: 600.00
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No
  • Community Features: Sidewalks, Storm Drains, Street Lights

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: Landscaped, Near Public Transit
  • Lot Size Sq Ft: 6754.00
  • Lot Size Acres: 0.1551

Rental Info

  • Garage Rental Rate: 125.00

Multi Family

  • Average1 Bed Area: 515 Square Feet
  • Average2 Bed Area: 775 Square Feet
  • Average3 Bed Area: 1000 Square Feet
  • Electric Expense: 1200.00
  • Garage Income: 125.00
  • Gross Income: 125610.00
  • Gross Multiplier: 15.70
  • Gross Operating Income: 137370.00
  • Gross Scheduled Income: 144600.00
  • Insurance Expense: 3000.00
  • Laundry Equipment Own Lease: Own
  • Laundry Income: 100.00
  • Lot Size Area: 6754.0000 Square Feet
  • Net Operating Income: 130140.00
  • Number Of Rented Garages: 1
  • Number Of Separate Electric Meters: 8
  • Number Of Separate Gas Meters: 8
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 8
  • Number Of Units Total: 8
  • Operating Expense: 14460.00
  • Operating Expense Percent: 10.00
  • Rent Control: No
  • Total Actual Rent: 12050.00
  • Total Expenses: 42076.00
  • Vacancy Allowance Rate: 5.00

Tax Info

  • New Taxes Expense: 28000.00
  • Tax Block: 1
  • Tax Census Tract: 5768.02
  • Tax Lot: 6
  • Tax Tract Number: 2

Range of Values:

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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
03/05/2025 03/05/25 Off Market $1,700 -- --
11/19/2024 11/19/24 For Rent $1,700 0.0% --
08/29/2019 08/29/19 Sold $2,138,000 -6.0% $377 / Sq Ft
07/05/2019 07/05/19 Pending -- -- --
06/20/2019 06/20/19 For Sale $2,275,000 -- $401 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PW19145505

California Regional Multiple Listing Service (CRMLS)