NOT LISTED FOR SALE

538 E Atlas Way Long Beach, CA 90813

Saint Mary's Neighborhood

Estimated Value: $727,000 - $854,000

5 Beds
3 Baths
1,710 Sq Ft
$472/Sq Ft Est. Value

Sale Details

Date Sold: May 15, 2019

Last sale price $615,000 $360 Per Sq Ft

Est. 31% increase in value since last sale

Current estimated payment $5,120 / mo

28 Days on Market

Highlights

  • Property is near public transit
  • Long Beach Polytechnic High School Rated A
  • 4-minute walk to Peace Park

About This Home

As of May 2019

The Atlas Way Apartments is a duplex located in the City of Long Beach. The single-story buildings are comprised of (1) two bedroom / one bathroom unit and (1) three bedroom / two bathroom unit, situated over a 5,744 square foot lot. Property amenities include: enclosed garages, large yards, and washer / dryer hookups. Recent property renovations include, but are not limited to: new windows, new water heater, copper plumbing, new electrical, new stucco, new interiors, and newer roof. This investment presents a stable, low expense opportunity with a 5.77% CAP Rate and 9.66% Total Return on Current Income.

Located in the City of Long Beach, this property is conveniently positioned near the Pacific Coast Highway and freeways, providing tenants easy access to employment, entertainment, retail, and is just miles away from Alamitos Beach via automobile or the Metro Rail Public Transportation. The Long Beach market has enjoyed strong rental growth and growing tenant demand over the past few years.

Last Agent to Sell the Property

Greg Bassirpou

Marcus & Millichap RE Invest License #01365951 Listed on: 03/18/2019

Last Buyer's Agent

Larry Sangiorgio

First Team Real Estate License #01419541

First Team Real Estate

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1904

Lot Details

  • 5,744 Sq Ft Lot
  • No Common Walls

Parking

  • 4 Car Garage

Home Design

  • 1,710 Sq Ft Home

Bedrooms and Bathrooms

  • 5 Bedrooms
  • 3 Bathrooms

Laundry

  • Laundry in unit
  • Washer and Gas Dryer Hookup

Additional Features

  • Exterior Lighting
  • Property is near public transit

Listing and Financial Details

  • Tax Lot 26
  • Tax Tract Number 3
  • Assessor Parcel Number 7274001036

Community Details

Overview

  • 2 Buildings
  • 2 Units

Building Details

  • 2 Separate Electric Meters
  • 2 Separate Gas Meters
  • 1 Separate Water Meter
  • Electric Expense $240
  • Fuel Expense $240
  • Insurance Expense $867
  • Trash Expense $240
  • Water Sewer Expense $240
  • New Taxes Expense $7,994
  • Operating Expense $11,921
  • Gross Income $49,440
  • Net Operating Income $36,036

Property Details

Home Type

Multi-Family

Year Built

Built in 1904

Lot Details

5,744 Sq Ft Lot

Parking

4

Listing Details

  • Property Attached: No
  • Water Sewer Expenses: 240.00
  • Zoning: LBR4N
  • Property Type: Residential Income
  • Parcel Number: 7274001036
  • Year Built: 1904
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Common Walls: No Common Walls
  • Price Per Square Foot: 359.65

Exterior Features

  • Pool Private: No

Garage/Parking

  • Garage Spaces: 4.00
  • Total Parking Spaces: 4.00

Utilities

  • Laundry: Yes
  • Laundry Features: Gas & Electric Dryer Hookup, Washer Hookup
  • Sewer: Public Sewer
  • Trash Expense: 240.00
  • Water Source: Public

Condo/Co-op/Association

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

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: Near Public Transit
  • Lot Size Sq Ft: 5744.00
  • Lot Size Acres: 0.1319

Multi Family

  • Electric Expense: 240.00
  • Fuel Expense: 240.00
  • Garage Income: 7800.00
  • Gross Income: 49440.00
  • Gross Scheduled Income: 41640.00
  • Insurance Expense: 867.00
  • Lot Size Area: 5744.0000 Square Feet
  • Net Operating Income: 36036.00
  • Number Of Separate Electric Meters: 2
  • Number Of Separate Gas Meters: 2
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 2
  • Operating Expense: 11921.00
  • Rent Control: No
  • Total Expenses: 11921.00

Tax Info

  • New Taxes Expense: 7994.00
  • Tax Census Tract: 5763.01
  • Tax Lot: 26
  • Tax Tract Number: 3-64

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

Closed on
Nov 9, 2020
Sold by
Bought by
Current Estimated Value
$807,902

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$302,000
Outstanding Balance
$268,737
Interest Rate
2.8%
Mortgage Type
New Conventional
Estimated Equity
$539,165

Purchase Details

Closed on
Nov 3, 2020
Sold by
Bought by

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$302,000
Outstanding Balance
$268,737
Interest Rate
2.8%
Mortgage Type
New Conventional
Estimated Equity
$539,165

Purchase Details

Listed on
Mar 18, 2019
Closed on
May 2, 2019
Sold by
Bought by
Seller's Agent
Greg Bassirpou
Marcus & Millichap RE Invest
Buyer's Agent
Larry Sangiorgio
First Team Real Estate
List Price
$625,000
Sold Price
$615,000
Premium/Discount to List
-$10,000
-1.6%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
3.89%
Original Mortgage
$310,000
Interest Rate
4%
Mortgage Type
Commercial

Purchase Details

Closed on
Nov 11, 2015
Sold by
Bought by

Purchase Details

Closed on
Jun 22, 2010
Sold by
Bought by

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$130,000
Interest Rate
4.91%
Mortgage Type
New Conventional

Purchase Details

Closed on
Jun 17, 2010
Sold by
Bought by

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$130,000
Interest Rate
4.91%
Mortgage Type
New Conventional

Purchase Details

Closed on
Feb 17, 2006
Sold by
Bought by
Source: Public Records

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

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
-- Accommodation
-- Fidelity National Title Co
$615,000 North American Title Company
-- None Available
-- Ort
-- Ort
$380,000 First American Title Co
Source: Public Records

Mortgage 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 Status Borrower Loan Amount
Open $302,000
Previous Owner $310,000
Previous Owner $130,000
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
05/15/2019 05/15/19 Sold $615,000 -1.6% $360 / Sq Ft
04/15/2019 04/15/19 Pending -- -- --
03/18/2019 03/18/19 For Sale $625,000 -- $365 / 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 $9,385 $686,039 $446,205 $239,834
2024 $8,975 $672,588 $437,456 $235,132
2023 $8,822 $659,401 $428,879 $230,522
2022 $8,286 $646,472 $420,470 $226,002
2021 $8,119 $633,797 $412,226 $221,571
2020 $8,099 $627,300 $408,000 $219,300
2019 $6,366 $488,155 $339,586 $148,569
2018 $6,121 $478,584 $332,928 $145,656
2016 $4,073 $325,282 $224,413 $100,869
2015 $3,912 $320,397 $221,043 $99,354
2014 $3,893 $314,122 $216,714 $97,408
Source: Public Records

Agents Affiliated with this Home

  • Greg Bassirpou

    Seller's Agent in 2019

    Greg Bassirpou

    Marcus & Millichap RE Invest

    (949) 419-3269

    1 in this area

    23 Total Sales

    Greg Bassirpou
    Section Image
  • Larry Sangiorgio

    Buyer's Agent in 2019

    Larry Sangiorgio

    First Team Real Estate

    (714) 595-9200

    45 Total Sales

    Larry Sangiorgio
    Section Image
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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: OC19060337

California Regional Multiple Listing Service (CRMLS)

APN: 7274-001-036

California Los Angeles County Long Beach 90813 Saint Mary's

538 E Atlas Way, Long Beach, CA

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.

California Regional Multiple Listing Service (CRMLS) 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

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