NOT LISTED FOR SALE
6 Beds
4 Baths
6,536 Sq Ft
9,138 Sq Ft Lot

Sale Details

Date Sold: April 11, 2018

Last sale price $1,495,000 $229 Per Sq Ft

2 Days on Market

Highlights

  • Laundry Room
  • Central Heating
  • Fenced
  • Tile Flooring

About This Home

As of April 2018

There are 2 Single family houses with a four unit behind. The houses are a 1 Br. and a 2Br. and the four unit are all 3 Br. 2 ba. units. There are 6 enclosed garages of the alley and parking for 3 more. The property is individually metered for gas and electric and the Tenants pay for the Trash. The Property sits on a tree lined street, surrounded by mostly single family homes. This investment provides excellent cash flow due to low operating expenses and excellent in place rents. Four of the six units have been remodeled with New cabinets, granite, new appliances etc. One of the remodeled units did not get new cabinets.

Last Agent to Sell the Property

Kirby Larson

Estate Properties License #00593173 Listed on: 02/19/2018

Estate Properties

Last Buyer's Agent

Cody Charnell

Sage Real Estate Group, Inc. License #01950585

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1989

Lot Details

  • 9,138 Sq Ft Lot
  • Property fronts an alley
  • 1 Common Wall
  • Fenced
  • Fence is in average condition
  • Front and Back Yard Sprinklers
  • Density is 21-25 Units/Acre

Parking

  • 2 Open Parking Spaces
  • 6 Car Garage
  • 1 Carport Space

Home Design

  • 6,536 Sq Ft Home
  • Property Attached
  • Composition Roof

Flooring

  • Laminate
  • Tile

Bedrooms and Bathrooms

  • 6 Bedrooms
  • 4 Bathrooms

Laundry

  • Laundry Room
  • Leased Washer and Dryer

Location

  • Suburban Location

Utilities

  • Central Heating
  • Wall Furnace
  • Cable TV Available

Listing and Financial Details

  • Tax Lot 6
  • Tax Tract Number 5965
  • Assessor Parcel Number 7127007029

Community Details

Overview

  • 3 Buildings
  • 6 Units
  • North Long Beach Subdivision

Amenities

  • Laundry Facilities

Building Details

  • 7 Separate Electric Meters
  • 7 Separate Gas Meters
  • 2 Separate Water Meters
  • Electric Expense $384
  • Fuel Expense $60
  • Gardener Expense $2,040
  • Insurance Expense $2,400
  • Maintenance Expense $7,427
  • Pest Control $200
  • Supplies Expense $250
  • Water Sewer Expense $5,280
  • New Taxes Expense $19,500
  • Operating Expense $37,785
  • Gross Income $125,952
  • Net Operating Income $88,167

Property Details

Home Type

Multi-Family

Year Built

Built in 1989

Lot Details

9,138 Sq Ft Lot

Parking

6

Listing Details

  • CapRate: 5.90
  • Property Attached: Yes
  • Road Frontage Type: Alley, City Street
  • Road Surface Type: Paved
  • Subdivision Name Other: North Long Beach (NLB)
  • Supplies Expense: 250.00
  • Water Sewer Expenses: 5280.00
  • Property Type: Residential Income
  • Gardener Expense: 2040.00
  • Parcel Number: 7127007029
  • Year Built: 1989
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Fireplace: No
  • Common Walls: 1 Common Wall
  • Flooring: Laminate, Tile
  • Levels: Two
  • Price Per Square Foot: 228.73

Exterior Features

  • Fence: Yes
  • Fencing: Average Condition
  • Pool Private: No
  • Roof: Composition

Garage/Parking

  • Carport Spaces: 1.00
  • Garage Spaces: 6.00
  • Total Parking Spaces: 9.00
  • Uncovered Spaces: 2.00

Utilities

  • Utilities: Cable Available, Natural Gas Available
  • Sprinklers: Yes
  • Heating: Yes
  • Laundry: Yes
  • Heating Type: Central, Wall Furnace
  • Laundry Features: Common Area, Community, Dryer Included, Individual Room
  • Pest Control Expense: 200.00
  • Sewer: Public Sewer
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No
  • Community Features: Sidewalks, Suburban

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: 21-25 Units/Acre, Lot 6500-9999, Sprinkler System, Sprinklers In Front, Sprinklers In Rear, Sprinklers Timer
  • Lot Size Sq Ft: 9138.00
  • Lot Size Acres: 0.2098

Multi Family

  • Average1 Bed Area: 750 Square Feet
  • Average2 Bed Area: 900 Square Feet
  • Average3 Bed Area: 1221 Square Feet
  • Electric Expense: 384.00
  • Fuel Expense: 60.00
  • Gross Income: 125952.00
  • Gross Multiplier: 11.80
  • Gross Scheduled Income: 126312.00
  • Insurance Expense: 2400.00
  • Laundry Equipment Own Lease: Lease
  • Laundry Income: 360.00
  • Lot Size Area: 9138.0000 Square Feet
  • Maintenance Expense: 7427.00
  • Maintenance Percent: 19.60
  • Net Operating Income: 88167.00
  • Number Of Separate Electric Meters: 7
  • Number Of Separate Gas Meters: 7
  • Number Of Separate Water Meters: 2
  • Number Of Units Total: 6
  • Operating Expense: 37785.00
  • Operating Expense Percent: 30.00
  • Rent Control: No
  • Total Expenses: 37785.00

Tax Info

  • New Taxes Expense: 19500.00
  • Tax Lot: 6
  • Tax Tract Number: 5965

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 19, 2018
Closed on
Apr 9, 2018
Sold by
Bought by
Seller's Agent
Kirby Larson
Estate Properties
Buyer's Agent
Cody Charnell
Sage Real Estate Group, Inc.
List Price
$1,495,000
Sold Price
$1,495,000

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,087,500
Interest Rate
0.0446%
Mortgage Type
Construction

Purchase Details

Closed on
Jan 18, 2018
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
$1,050,000
Interest Rate
0.0394%
Mortgage Type
Future Advance Clause Open End Mortgage

Purchase Details

Listed on
May 27, 2015
Closed on
Jun 12, 2015
Sold by
Bought by
Seller's Agent
Nicholas Petrosian
Remax Commercial and Investment Realty
Buyer's Agent
Nicholas Petrosian
Remax Commercial and Investment Realty
List Price
$980,000
Sold Price
$980,000

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,557,000
Interest Rate
0.0397%
Mortgage Type
Credit Line Revolving

Purchase Details

Closed on
Jul 13, 2012
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
$500,000
Interest Rate
0.0365%
Mortgage Type
Future Advance Clause Open End Mortgage

Purchase Details

Closed on
Jul 9, 2012
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
$500,000
Interest Rate
0.0365%
Mortgage Type
Future Advance Clause Open End Mortgage

Purchase Details

Closed on
Jan 8, 2005
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
$544,000
Interest Rate
0.0575%
Mortgage Type
Commercial

Purchase Details

Closed on
Jan 3, 2005
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
$544,000
Interest Rate
0.0575%
Mortgage Type
Commercial

Purchase Details

Closed on
Dec 17, 2004
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
$544,000
Interest Rate
0.0575%
Mortgage Type
Commercial

Purchase Details

Closed on
Nov 22, 2004
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
$544,000
Interest Rate
0.0575%
Mortgage Type
Commercial

Purchase Details

Closed on
Dec 30, 1997
Sold by
Bought by
Source: Public Records
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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
$1,495,000 Lawyers Title Company
-- Ticor Title
$980,000 Chicago Title
-- Fidelity National Title Co
-- Fidelity National Title Co
-- Fntc-Glen
-- Fntc-Glen
-- Fntc-Glen
$850,000 Fntc-Glen
-- --
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 $1,556,250
Closed $1,425,000
Closed $1,087,500
Previous Owner $1,050,000
Previous Owner $1,557,000
Previous Owner $500,000
Previous Owner $500,000
Previous Owner $544,000
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
04/11/2018 04/11/18 Sold $1,495,000 0.0% $229 / Sq Ft
02/19/2018 02/19/18 For Sale $1,495,000 +26.2% $229 / Sq Ft
09/15/2016 09/15/16 Sold $1,185,000 0.0% $181 / Sq Ft View Prior Sale
07/20/2016 07/20/16 Price Changed $1,185,000 -10.2% $181 / Sq Ft
07/12/2016 07/12/16 For Sale $1,320,000 +34.7% $202 / Sq Ft
08/10/2015 08/10/15 Sold $980,000 0.0% $205 / Sq Ft View Prior Sale
05/28/2015 05/28/15 Pending -- -- --
05/27/2015 05/27/15 For Sale $980,000 -- $205 / 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 $23,131 $1,701,050 $563,223 $1,137,827
2024 $22,128 $1,667,697 $552,180 $1,115,517
2023 $21,757 $1,634,998 $541,353 $1,093,645
2022 $20,434 $1,602,940 $530,739 $1,072,201
2021 $20,011 $1,571,511 $520,333 $1,051,178
2020 $19,957 $1,555,398 $514,998 $1,040,400
2019 $19,726 $1,524,900 $504,900 $1,020,000
2018 $13,403 $1,019,592 $343,332 $676,260
2016 $12,242 $980,000 $330,000 $650,000
2015 $9,675 $780,000 $420,000 $360,000
2014 $9,805 $780,000 $420,000 $360,000
Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PV18039155

California Regional Multiple Listing Service (CRMLS)
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