Richard Gaylord
Re/Max R. E. Specialists
(424) 300-8259
25 Total Sales
1 in West Village
$1,065,000 Price
531 W 5th St Long Beach, CA 90802
West Village Neighborhood
3
Beds
7
Baths
3,344
Sq Ft
7,518
Sq Ft Lot
Highlights
- 0.17 Acre Lot
- Front Yard
- 1-Story Property
About This Home
As of March 2024531 W 5th Street is a 7-unit apartment complex located in Los Angeles County’s rapidly growing Long Beach Market. Consisting of (1) detached 3 bedroom/ 1 bath home and (6) Studios with full kitchens and large baths. The property features 4 newly constructed garages with three storage units and (1) 2 car garage. Offering an investor the opportunity to acquire a true value-add asset with over 54% in rental upside. All tenants are on month-to-month leases. Access to commuting freeways and core job markets continues to make this location irreplaceable. A future investor will enjoy long-term upside with this asset, due to a continued shortage of apartment housing and lack of affordability in single-family homes in Southern California.
Last Agent to Sell the Property
Compass Brokerage Phone: 714-323-3200 License #01920673 Listed on: 02/07/2024
Co-Listed By
Michael Bouras
Compass Brokerage Phone: 714-323-3200 License #01986753
Last Buyer's Agent
Aspen Labrador
Compass License #02146663
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
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1905
Lot Details
- 7,518 Sq Ft Lot
- Two or More Common Walls
- Front Yard
Parking
- 5 Car Garage
Home Design
- Property Attached
- Entry on the 1st floor
Interior Spaces
- 3,344 Sq Ft Home
- 1-Story Property
Bedrooms and Bathrooms
- 3 Bedrooms
- 7 Bathrooms
Listing and Financial Details
- Legal Lot and Block 22 / 145
- Tax Tract Number 575
- Assessor Parcel Number 7278021039
- $1,275 per year additional tax assessments
Community Details
Overview
- 3 Buildings
- 7 Units
Building Details
- Rent Control
- 7 Separate Electric Meters
- 7 Separate Gas Meters
- 1 Separate Water Meter
- Electric Expense $3,799
- Fuel Expense $1,965
- Insurance Expense $2,173
- Trash Expense $5,064
- Water Sewer Expense $5,618
- Operating Expense $34,840
- Gross Income $96,000
- Net Operating Income $60,453
Ownership History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
Feb 7, 2024
Closed on
Feb 20, 2024
Sold by
Bought by
Seller's Agent
Kacey Taormina
Compass
Buyer's Agent
Aspen Labrador
Compass
List Price
$1,250,000
Sold Price
$975,000
Premium/Discount to List
-$275,000
-22%
Views
20
Purchase Details
Closed on
Jun 3, 1998
Sold by
Bought by
Home Values in the Area
Average Home Value in this Area
Agents Specializing in West Village, CA
-
Richard Gaylord
-
Amirah Halum
Amirah Halum
Compass
(442) 256-8829
139 Total Sales
2 in West Village
$363,000 Price Range
-
Erick Guzman
Erick Guzman
RE/MAX TOP PRODUCERS
(626) 261-7921
63 Total Sales
1 in West Village
$468,000 Price
-
Allison Van Wig
Allison Van Wig
Responds QuicklyKeller Williams Coastal Prop.
(562) 582-8861
237 Total Sales
4 in West Village
$325K - $700K Price Range
-
Sharon Smith
Sharon Smith
Berkshire Hathaway Homeservices California Realty
(760) 548-3262
63 Total Sales
2 in West Village
$475,000 Price Range
-
Kelly Schmit
Kelly Schmit
Fredericks Realty
(562) 502-8314
24 Total Sales
1 in West Village
$395,000 Price
Purchase History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Buyer | Sale Price | Title Company |
|---|---|---|---|
| $975,000 | Fidelity National Title | ||
| -- | -- | ||
| -- | -- |
Source: Public Records
Property History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 03/21/2024 03/21/24 | Sold | $975,000 | -22.0% | $292 / Sq Ft |
| 02/12/2024 02/12/24 | Pending | -- | -- | -- |
| 02/07/2024 02/07/24 | For Sale | $1,250,000 | -- | $374 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
Tax History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| 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 | $14,140 | $994,500 | $688,500 | $306,000 |
| 2024 | $2,279 | $77,572 | $43,230 | $34,342 |
| 2023 | $2,226 | $76,052 | $42,383 | $33,669 |
| 2022 | $2,124 | $74,561 | $41,552 | $33,009 |
| 2021 | $2,045 | $73,100 | $40,738 | $32,362 |
| 2020 | $2,040 | $72,712 | $40,321 | $32,391 |
| 2019 | $2,017 | $71,294 | $39,531 | $31,763 |
| 2018 | $1,853 | $69,904 | $38,756 | $31,148 |
| 2016 | $1,711 | $66,846 | $37,252 | $29,594 |
| 2015 | $1,666 | $65,843 | $36,693 | $29,150 |
| 2014 | $1,700 | $64,554 | $35,975 | $28,579 |
Source: Public Records
Agents Affiliated with this Home
-
Kacey Taormina
Seller's Agent in 2024
Kacey Taormina
Compass
(714) 323-3200
1 in this area
79 Total Sales
-
M
Seller Co-Listing Agent in 2024
Michael Bouras
Compass
-
A
Buyer's Agent in 2024
Aspen Labrador
Compass
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: NP24025759
Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.
The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.
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
Nearby Homes
- 528 Daisy Ave
- 535 W 4th St Unit 311
- 535 W 4th St Unit 306
- 535 W 4th St Unit 312
- 535 Magnolia Ave Unit 113
- 555 Maine Ave Unit 230
- 555 Maine Ave Unit 207
- 555 Maine Ave Unit 130
- 628 Daisy Ave Unit 419
- 628 Daisy Ave Unit 222
- 628 Daisy Ave Unit 225
- 531 N Virginia Ct
- 707 W 4th St Unit 8
- 463 W 6th St
- 640 W 4th St Unit 205
- 640 W 4th St Unit 315
- 433 W 4th St
- 460 Golden Ave Unit 104
- 322 Daisy Ave
- 445 W 6th St
- 548 W 5th St
- 545 W 5th St
- 540 W 5th St
- 536 W 5th St
- 514 Daisy Ave
- 443 N Crystal Ct
- 603 W 5th St
- 532 W 5th St
- 457 Daisy Ave
- 520 Daisy Ave
- 443 N Nylic Ct
- 611 W 5th St
- 615 W 5th St Unit 3
- 615 W 5th St Unit 4
- 615 W 5th St Unit 1
- 446 N Crystal Ct
- 426 Daisy Ave Unit 426
- 426 Daisy Ave Unit 4
- 424 Daisy Ave
- 428 Daisy Ave
Your Personal Tour Guide
Ask me questions while you tour the home.