Seller's Agent in 2018
Kevin King
Marcus & Millichap
(562) 257-1245
42 Total Sales
5465 E 2nd St Long Beach, CA 90803
Naples Neighborhood
1
Bed
6
Baths
4,983
Sq Ft
3,999
Sq Ft Lot
About This Home
As of July 2018We are pleased to present an attractive 23 unit apartment building located in the beautiful area of Naples Island in Long Beach, CA. The subject property is situated less than one block from the ocean and walking distance to restaurants, shops, entertainment and retail stores on 2nd Street. This property contains (22) Studio / one-bathroom units and (1) one-bedroom /one bathroom unit. Built in 1947, the subject property was completely renovated inside and out in 2016. Exterior upgrades includes new windows, paint, full replacement of iron railings, wood structure upgrades, recent termite fumigation and redesign of all stonework. The property uses Solar Panels to drastically reduce the overall utility cost to the owner. Paid utilities are highly sought after on the rental market. Having a solar panel installation allows the building to offer all utilities paid as an incentive and a marketing differentiator while continuing to maintain lower than market utility costs. Interior upgrades include stone-counter tops, cabinetry, hardwood floors and new appliances. Nearby restaurants include Michael's, Chianina Steakhouse, Roe Seafood, Nico's, Riley's and Brix at the Shore. The location is very bikeable as biking is convenient for most trips.
Last Agent to Sell the Property
Marcus & Millichap License #01158184 Listed on: 07/11/2017
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1947
Lot Details
- 3,999 Sq Ft Lot
- Two or More Common Walls
- Density is 21-25 Units/Acre
Home Design
- Property Attached
Interior Spaces
- 4,983 Sq Ft Home
- 2-Story Property
Bedrooms and Bathrooms
- 1 Bedroom
- 6 Bathrooms
Utilities
- Septic Type Unknown
Listing and Financial Details
- Tax Lot 6
- Tax Tract Number 7293
- Assessor Parcel Number 7244002030
Community Details
Overview
- 23 Units
Building Details
- Electric Expense $1,382
- Insurance Expense $8,899
- Maintenance Expense $10,198
- Other Expense $3,000
- Professional Management Expense $11,655
- Trash Expense $1,704
- Water Sewer Expense $2,965
- New Taxes Expense $56,661
- Operating Expense $96,464
- Gross Income $291,372
- Net Operating Income $194,908
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Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 07/23/2018 07/23/18 | Sold | $4,650,000 | -7.9% | $933 / Sq Ft |
| 06/15/2018 06/15/18 | Pending | -- | -- | -- |
| 03/13/2018 03/13/18 | Price Changed | $5,050,000 | -2.3% | $1,013 / Sq Ft |
| 09/27/2017 09/27/17 | Price Changed | $5,170,000 | -1.5% | $1,038 / Sq Ft |
| 07/11/2017 07/11/17 | For Sale | $5,250,000 | -- | $1,054 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
Tax History Compared to Growth
Agents Affiliated with this Home
-
Kevin King
-
NoEmail NoEmail
N
Buyer's Agent in 2018
NoEmail NoEmail
NONMEMBER MRML
(646) 541-2551
1 in this area
6,182 Total Sales
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: PW17157433
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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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