Jeffrey Russell
Russell Realty Group
(626) 604-2792
113 Total Sales
1 in Naples
$1,890,000 Price
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
Last Buyer's Agent
General NONMEMBER
NONMEMBER MRML
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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
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
Jul 11, 2017
Closed on
Jun 14, 2018
Sold by
5465 East 2Nd Street Llc
Bought by
Seller's Agent
Kevin King
Marcus & Millichap
Buyer's Agent
General NONMEMBER
NONMEMBER MRML
List Price
$5,250,000
Sold Price
$4,650,000
Premium/Discount to List
-$600,000
-11.43%
Purchase Details
Closed on
Sep 9, 2015
Sold by
Krantz Michael
Bought by
5465 East 2Nd Street Llc
Purchase Details
Closed on
Aug 1, 2012
Sold by
Ginsburg Allen H and The Persephones Trust
Bought by
Krantz Michael
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$300,000
Interest Rate
3.62%
Mortgage Type
Commercial
Purchase Details
Closed on
Dec 3, 2002
Sold by
The Persephenes Trust
Bought by
Ginsburg Allen H and Persephones Trust
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$900,000
Interest Rate
6.28%
Mortgage Type
Commercial
Home Values in the Area
Average Home Value in this Area
Agents Specializing in Naples, CA
-
Jeffrey Russell
-
Sharon Benton
Sharon Benton
The Agency
(424) 231-6509
33 Total Sales
3 in Naples
$2.2M - $2.6M Price Range
-
Richard Gaylord
Richard Gaylord
Re/Max R. E. Specialists
(424) 300-8259
24 Total Sales
3 in Naples
$3.3M - $3.7M Price Range
-
Linda Cottone
Linda Cottone
eXp Realty of California, Inc.
(424) 375-6846
63 Total Sales
1 in Naples
$1,570,000 Price
-
Mike Dunfee
Mike Dunfee
Dunfee Real Estate Services
(424) 358-3624
120 Total Sales
3 in Naples
$1.3M - $1.6M Price Range
-
Steve Julian
Steve Julian
Luxury Collective
(747) 293-4987
169 Total Sales
1 in Naples
$1,759,000 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 |
|---|---|---|---|
| $4,650,000 | Fidelity Sherman Oaks | ||
| 5465 East 2Nd Street Llc | $3,250,000 | Fidelity National Title | |
| Krantz Michael | -- | Fidelity National Title Co | |
| Krantz Michael | -- | Fidelity National Title Co | |
| Ginsburg Allen H | -- | Fidelity National 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 |
|---|---|---|---|
| Previous Owner | $2,250,000 | ||
| Previous Owner | Krantz Michael | $250,000 | |
| Previous Owner | Krantz Michael | $1,625,000 | |
| Previous Owner | Krantz Michael | $300,000 | |
| Previous Owner | Ginsburg Allen H | $1,650,000 | |
| Previous Owner | Ginsburg Allen H | $900,000 |
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 |
|---|---|---|---|---|
| 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
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 |
|---|---|---|---|---|
| 2026 | $68,823 | $5,290,901 | $3,413,486 | $1,877,415 |
| 2025 | $68,823 | $5,187,158 | $3,346,555 | $1,840,603 |
| 2024 | $65,895 | $5,085,450 | $3,280,937 | $1,804,513 |
| 2023 | $64,769 | $4,985,736 | $3,216,605 | $1,769,131 |
| 2022 | $60,712 | $4,887,978 | $3,153,535 | $1,734,443 |
| 2021 | $59,571 | $4,792,136 | $3,091,701 | $1,700,435 |
| 2019 | $58,722 | $4,670,700 | $3,000,000 | $1,670,700 |
| 2018 | $43,038 | $3,386,100 | $2,340,900 | $1,045,200 |
| 2017 | $42,578 | $3,315,000 | $2,295,000 | $1,020,000 |
| 2016 | $39,658 | $3,250,000 | $2,250,000 | $1,000,000 |
| 2015 | $27,983 | $2,305,372 | $1,086,086 | $1,219,286 |
| 2014 | $27,874 | $2,260,214 | $1,064,812 | $1,195,402 |
Source: Public Records
Agents Affiliated with this Home
-
Kevin King
Seller's Agent in 2018
Kevin King
Marcus & Millichap
(562) 257-1245
39 Total Sales
-
GN
Buyer's Agent in 2018
General NONMEMBER
NONMEMBER MRML
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: PW17157433
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
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