NOT LISTED FOR SALE

5279 E The Toledo Long Beach, CA 90803

Belmont Shore Neighborhood
Studio
8 Baths
3,389 Sq Ft
3,755 Sq Ft Lot

Last Sold March 10, 2016

Last sale price $1,985,000 $586 Per Sq Ft

55 Days on Market

About This Home

As of March 2016

The Toledo Apartments is a charming 2-story, balcony style walk up multifamily property consisting of 8 studio/1 bath units comprised of 4 different floor plans. Current owners have infused approximately $90,000 in recent building improvements including renovated interiors with new hardwood laminate floors, stainless steel kitchen appliances, new trims and baseboards, resurfaced cabinets and upgraded vanity tile flooring, mirror, and light fixtures in the bathrooms. Additionally, some major systems have been replaced including a new roof and partial copper plumbing. The building offers 1.5 parking spaces with abundance of street parking. Given the high rental demand in this sub-market combined with the affluent local demographics, the rental rates in this building remain competitive with 8% upside to realize in rents. With easy management and low operating cost this represents an excellent turn-key opportunity for an Investor in a well located beach neighborhood.

Last Agent to Sell the Property

Daniel Baird

Sperry Van Ness License #01249675 Listed on: 12/08/2015

Last Buyer's Agent

Kevin Mello

License #01736426

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1947

Lot Details

  • 3,755

Interior Spaces

  • 8 Bathrooms
  • 3,389 Sq Ft Home
  • 2-Story Property

Parking

  • 1 Parking Space
  • On-Street Parking

Additional Features

  • 3,755 Sq Ft Lot
  • Cooling System Mounted To A Wall/Window

Community Details

  • 8 Units

Listing and Financial Details

  • Assessor Parcel Number 7249-013-039

Property Details

Home Type

Multi-Family

Year Built

Built in 1947

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Street Number Display: Yes
  • Additional Assessor Parcel Numbers: No
  • Living Area: 3389
  • Stories: 2
  • Year Built: 1947
  • State Abbrv: CA
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Total Bathrooms: 8.00
  • Price Per S Q F T: 588.67

Exterior Features

  • Tennis Court Y/N: No
  • Pool: No
  • View: No

Garage/Parking

  • Parking Garage: On street
  • Total Parking: 1

Utilities

  • Cooling: Wall/Window

Lot Info

  • Assessed Improvement Value: 59745
  • Assessed Land Value: 67294
  • Assessor Parcel Number: 7249-013-039
  • Geocode Override: No
  • Lot Size Area: 3755

Multi Family

  • Unit Type: 2106, 2107, 2108, 2109, 2110, 2111, 2112, 2113
  • Gross Rent Multiplier: 15.50
  • Number Of Units: 8
  • Type Of Units: Studio

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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Average Value
Not Available
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

Property History

Date Event Price List to Sale Price per Sq Ft
03/10/2016 03/10/16 Sold $1,985,000 -0.5% $586 / Sq Ft
02/01/2016 02/01/16 Pending -- -- --
12/08/2015 12/08/15 For Sale $1,995,000 -- $589 / Sq Ft
Source: The MLS

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 $33,596 $2,653,020 $1,724,463 $928,557
2024 $33,596 $2,601,000 $1,690,650 $910,350
2023 $33,024 $2,550,000 $1,657,500 $892,500
2022 $27,579 $2,214,302 $1,227,069 $987,233
2021 $27,036 $2,170,885 $1,203,009 $967,876
2019 $26,648 $2,106,497 $1,167,328 $939,169
2018 $26,013 $2,065,194 $1,144,440 $920,754
2016 $18,610 $1,522,875 $1,015,250 $507,625
2015 $2,416 $127,039 $67,294 $59,745
2014 $2,447 $124,551 $65,976 $58,575
Source: Public Records

Agents Affiliated with this Home

  • D

    Seller's Agent in 2016

    Daniel Baird

    Sperry Van Ness

    (310) 500-1239

    8 Total Sales

    Daniel Baird
    Section Image

  • K

    Buyer's Agent in 2016

    Kevin Mello

  • R

    Buyer's Agent in 2016

    Rae Rodgers

See All Agents

Map

Source: The MLS

MLS Number: 15-964265

The MLS
California Los Angeles County Long Beach 90803 Belmont Shore

5279 E The Toledo, Long Beach, CA

Not Listed for Sale

MultiFamily

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