NOT LISTED FOR SALE
3 Beds
2 Baths
7,712 Sq Ft
8,278 Sq Ft Lot

Sale Details

Date Sold: August 21, 2019

Last sale price $2,850,000 $370 Per Sq Ft

204 Days on Market

Highlights

  • Wood Flooring
  • Laundry Facilities
  • 4-minute walk to Burton W. Chace Park

About This Home

As of August 2019

5558-5562 Dairy Avenue is a completely remodeled 12-Unit turnkey asset offering an attractive mix of bright and spacious one- and two-bedroom units. Interiors feature brand new hardwood flooring, custom cabinetry, granite countertops, stainless steel appliances and modern lighting and fixtures throughout. The property is located in North Long Beach, an area that is beginning to see new residential, mixed-use and modern commercial space development.

Last Agent to Sell the Property

Robert Stepp

Keller Williams Realty Downey License #01456379 Listed on: 11/27/2018

Keller Williams Realty Downey

Last Buyer's Agent

Robert Stepp

Keller Williams Realty Downey License #01456379 Listed on: 11/27/2018

Keller Williams Realty Downey
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Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1961

Lot Details

  • 8,278 Sq Ft Lot
  • Two or More Common Walls
  • Density is 11-15 Units/Acre

Home Design

  • Property Attached

Interior Spaces

  • 7,712 Sq Ft Home
  • 2-Story Property
  • Wood Flooring

Bedrooms and Bathrooms

  • 3 Bedrooms
  • 2 Bathrooms

Parking

  • 7 Open Parking Spaces
  • 7 Parking Spaces

Listing and Financial Details

  • Tax Lot 6-8
  • Tax Tract Number 570304
  • Assessor Parcel Number 7126019022

Community Details

Overview

  • 2 Buildings
  • 12 Units

Amenities

  • Laundry Facilities

Building Details

  • Electric Expense $1,650
  • Fuel Expense $1,650
  • Insurance Expense $3,085
  • Professional Management Expense $12,177
  • Trash Expense $1,650
  • Water Sewer Expense $1,650
  • New Taxes Expense $39,542
  • Operating Expense $69,604
  • Gross Income $243,533
  • Net Operating Income $173,929

Property Details

Home Type

Multi-Family

Year Built

Built in 1961

Lot Details

8,278 Sq Ft Lot

Listing Details

  • Professional Management Expense: 12177.00
  • Property Attached: Yes
  • Subdivision Name Other: North Long Beach (NLB)
  • Water Sewer Expenses: 1650.00
  • Zoning: LBR1N
  • Property Type: Residential Income
  • Parcel Number: 7126019022
  • Year Built: 1961
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Stories: 2
  • Common Walls: 2+ Common Walls
  • Flooring: Wood
  • Levels: Two
  • Price Per Square Foot: 369.55

Exterior Features

  • Pool Private: No

Garage/Parking

  • Total Parking Spaces: 7.00
  • Uncovered Spaces: 7.00

Utilities

  • Laundry: Yes
  • Laundry Features: Community
  • Sewer: Public Sewer
  • Trash Expense: 1650.00
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No
  • Community Features: Sidewalks

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: 11-15 Units/Acre
  • Lot Size Sq Ft: 8278.00
  • Lot Size Acres: 0.1900

Multi Family

  • Electric Expense: 1650.00
  • Fuel Expense: 1650.00
  • Gross Income: 243533.00
  • Gross Scheduled Income: 256350.00
  • Insurance Expense: 3085.00
  • Lot Size Area: 8278.0000 Square Feet
  • Net Operating Income: 173929.00
  • Number Of Units Total: 12
  • Operating Expense: 69604.00
  • Rent Control: No
  • Total Expenses: 69604.00

Tax Info

  • New Taxes Expense: 39542.00
  • Tax Census Tract: 5703.04
  • Tax Lot: 6-8
  • Tax Tract Number: 570304

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
May 30, 2019
Sold by
Bixby Park Apartments Llc
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
$1,995,000
Interest Rate
3.7%
Mortgage Type
Commercial

Purchase Details

Listed on
Aug 10, 2017
Closed on
Jan 31, 2018
Sold by
Keely Partners L P
Bought by
Bixby Park Apartments Llc
Seller's Agent
Robert Stepp
Keller Williams Realty Downey
Buyer's Agent
Robert Stepp
Keller Williams Realty Downey
List Price
$2,000,000
Sold Price
$1,900,000
Premium/Discount to List
-$100,000
-5%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,707,480
Interest Rate
3.95%
Mortgage Type
Commercial

Purchase Details

Closed on
Mar 22, 2012
Sold by
Bank Of The West
Bought by
Keely Partners Lp

Purchase Details

Closed on
Dec 30, 2011
Sold by
Kss Investments Incorporated
Bought by
Bank Of The West

Purchase Details

Closed on
Aug 31, 2007
Sold by
Kss Investments Inc
Bought by
Kss Investments Inc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$815,000
Interest Rate
6.67%
Mortgage Type
Commercial

Purchase Details

Closed on
Feb 14, 2002
Sold by
Kennedy Emmett Timothy
Bought by
Kss Investments Inc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$513,000
Interest Rate
6.84%
Mortgage Type
Commercial

Purchase Details

Closed on
Nov 16, 2000
Sold by
Diekmann Dennis P
Bought by
Kennedy Emmett Timothy
Source: Public Records

Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

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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
$2,850,000 Ticor Title Company
Bixby Park Apartments Llc $1,900,000 Ticor Title
Keely Partners Lp $1,075,010 Chicago Title Company
Bank Of The West $1,011,000 None Available
Kss Investments Inc -- North American Title Co
Kss Investments Inc $607,000 Chicago Title Co
Kennedy Emmett Timothy $167,600 --
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 $2,025,000
Previous Owner Lb View Inc $1,995,000
Previous Owner Bixby Park Apartments Llc $1,707,480
Previous Owner Keely Partners Lp $698,000
Previous Owner Kss Investments Incorporated $100,000
Previous Owner Kss Investments Inc $260,000
Previous Owner Kss Investments Inc $815,000
Previous Owner K S S Investments Inc $135,000
Previous Owner Kss Investments Inc $513,000
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 Prior Sale
08/21/2019 08/21/19 Sold $2,850,000 0.0% $370 / Sq Ft
02/19/2019 02/19/19 Off Market $2,850,000 -- --
11/27/2018 11/27/18 For Sale $3,100,000 +63.2% $402 / Sq Ft
02/16/2018 02/16/18 Sold $1,900,000 -5.0% $246 / Sq Ft View Prior Sale
11/07/2017 11/07/17 Pending -- -- --
08/10/2017 08/10/17 For Sale $2,000,000 -- $259 / 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 $42,015 $3,179,224 $501,981 $2,677,243
2025 $42,015 $3,116,888 $492,139 $2,624,749
2024 $40,162 $3,055,774 $482,490 $2,573,284
2023 $39,476 $2,995,858 $473,030 $2,522,828
2022 $37,051 $2,937,116 $463,755 $2,473,361
2021 $36,299 $2,879,526 $454,662 $2,424,864
2019 $25,421 $1,939,200 $459,000 $1,480,200
2018 $16,133 $1,187,894 $347,728 $840,166
2016 $14,836 $1,140,615 $334,226 $806,389
2015 $14,265 $1,123,483 $329,206 $794,277
2014 $14,218 $1,101,477 $322,758 $778,719
Source: Public Records

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PW18280490

California Regional Multiple Listing Service (CRMLS)
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