Mel Macklin
HomeSmart, Evergreen Realty
(747) 307-7003
49 Total Sales
1 in Belmont Shore
$985,000 Price
58 Argonne Ave Long Beach, CA 90803
Belmont Shore Neighborhood
1
Bed
2
Baths
10,128
Sq Ft
9,012
Sq Ft Lot
Highlights
- 0.21 Acre Lot
- Property is near public transit
- Laundry Facilities
- Lowell Elementary School Rated A-
About This Home
As of March 2019The Argonne Avenue Apartments is a rare 24-unit apartment building located just steps from the beach in the highly desirable Belmont Shore district of Long Beach, CA. The property is conveniently located near the popular retail, entertainment, and dining district on Belmont Shore’s East Second Street. It offers more than 250 unique, upscale boutiques and specialty shops and a myriad of coffee shops, cafes, casual dining taverns, and international specialty restaurants.
The offering is comprised of three contiguous eight-unit buildings, each situated on a separate parcel. Each building contains (5) one bedroom/ one bathroom units and (3) studio units. The seller will also consider selling each building separately. Tenants enjoy an on-site laundry facility and a short walk to the beach. There is also tremendous opportunity to capitalize on strong market trends that should increase rental income by over 45 percent. Given the fantastic location and strong demographics, The Argonne Avenue Apartments is well suited to provide investors with strong returns and value appreciation over the long-term investment horizon.
Last Agent to Sell the Property
Marcus & Millichap RE Invest License #01365951 Listed on: 10/16/2018
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Property Details
Home Type
- Multi-Family
Year Built
- Built in 1946
Lot Details
- 9,012 Sq Ft Lot
- No Common Walls
- 7247021030, 7247021031
Parking
- On-Street Parking
Interior Spaces
- 10,128 Sq Ft Home
- 2-Story Property
Bedrooms and Bathrooms
- 1 Bedroom
- 2 Bathrooms
Additional Features
- Exterior Lighting
- Property is near public transit
Listing and Financial Details
- Tax Lot 1
- Tax Tract Number 3750
- Assessor Parcel Number 7247021029
Community Details
Overview
- 3 Buildings
- 24 Units
Amenities
- Laundry Facilities
Building Details
- 24 Separate Electric Meters
- 24 Separate Gas Meters
- 1 Separate Water Meter
- Electric Expense $1,650
- Fuel Expense $1,650
- Insurance Expense $10,500
- Professional Management Expense $14,000
- Trash Expense $1,650
- Water Sewer Expense $1,650
- New Taxes Expense $72,000
- Operating Expense $118,100
- Gross Income $354,120
- Net Operating Income $225,396
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
Oct 16, 2018
Closed on
Mar 18, 2019
Sold by
Minerva Investment Group Llc
Bought by
Seller's Agent
Greg Bassirpou
Marcus & Millichap RE Invest
Buyer's Agent
Jon Swire
The Agency
List Price
$6,350,000
Sold Price
$6,100,000
Premium/Discount to List
-$250,000
-3.94%
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$4,940,000
Interest Rate
4.3%
Mortgage Type
Construction
Purchase Details
Closed on
Nov 21, 2018
Sold by
Minerva Investment Group Llc
Bought by
Minerva Investment Group Llc and Vesta Investment Group Llc
Purchase Details
Closed on
Jul 2, 2018
Sold by
Yellen Stuart and Yellen Ann
Bought by
Minerva Investment Group Llc and Vesta Investment Group Llc
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,339,000
Interest Rate
4.5%
Mortgage Type
Future Advance Clause Open End Mortgage
Purchase Details
Closed on
Jan 11, 2002
Sold by
Yellen Stuart and Yellen Ann
Bought by
Yellen Stuart and Yellen Ann
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$840,000
Interest Rate
6.84%
Mortgage Type
Commercial
Purchase Details
Closed on
Feb 12, 1999
Sold by
Yellen Stuart and Yellen Ann S
Bought by
Yellen Stuart and Yellen Ann
Home Values in the Area
Average Home Value in this Area
Agents Specializing in Belmont Shore, CA
-
Mel Macklin
-
Richard Gaylord
Richard Gaylord
Re/Max R. E. Specialists
(424) 300-8259
24 Total Sales
6 in Belmont Shore
$1.3M - $2.9M Price Range
-
Heidi Bailey
Heidi Bailey
Keller Williams Coastal Prop.
(949) 356-7766
37 Total Sales
2 in Belmont Shore
$1,525,000 Price Range
-
Allison Van Wig
Allison Van Wig
Responds QuicklyKeller Williams Coastal Prop.
(562) 582-8861
237 Total Sales
1 in Belmont Shore
$1,297,000 Price
-
Erika Alvarez
Erika Alvarez
RE/MAX Select One
(657) 325-5556
42 Total Sales
1 in Belmont Shore
$1,370,000 Price
-
Joshua Glaz
Joshua Glaz
The Ave
(657) 325-8448
258 Total Sales
1 in Belmont Shore
$2,450,000 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 |
|---|---|---|---|
| $6,100,000 | North American Title | ||
| Minerva Investment Group Llc | -- | North American Title Co | |
| Minerva Investment Group Llc | $1,734,000 | North American Title | |
| Yellen Stuart | -- | Fidelity National Title Co | |
| Yellen Stuart | -- | -- |
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 | $5,400,000 | ||
| Closed | 44 58 Argonne Llc | $4,940,000 | |
| Previous Owner | Minerva Investment Group Llc | $1,339,000 | |
| Previous Owner | Yellen Stuart | $840,000 |
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 |
|---|---|---|---|---|
| 03/27/2019 03/27/19 | Sold | $6,100,000 | -3.9% | $602 / Sq Ft |
| 01/25/2019 01/25/19 | Pending | -- | -- | -- |
| 10/16/2018 10/16/18 | For Sale | $6,350,000 | -- | $627 / 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 | $29,724 | $2,275,653 | $1,365,392 | $910,261 |
| 2025 | $29,724 | $2,231,033 | $1,338,620 | $892,413 |
| 2024 | $28,454 | $2,187,288 | $1,312,373 | $874,915 |
| 2023 | $27,966 | $2,144,401 | $1,286,641 | $857,760 |
| 2022 | $26,236 | $2,102,355 | $1,261,413 | $840,942 |
| 2021 | $25,717 | $2,061,133 | $1,236,680 | $824,453 |
| 2020 | $25,652 | $2,041,200 | $1,224,000 | $817,200 |
| 2019 | $22,118 | $1,734,200 | $1,233,000 | $501,200 |
| 2018 | $8,836 | $642,923 | $385,040 | $257,883 |
| 2016 | $8,141 | $616,806 | $370,090 | $246,716 |
| 2015 | $7,829 | $607,542 | $364,531 | $243,011 |
| 2014 | $7,811 | $595,642 | $357,391 | $238,251 |
Source: Public Records
Agents Affiliated with this Home
-
Greg Bassirpou
Seller's Agent in 2019
Greg Bassirpou
Marcus & Millichap RE Invest
(949) 419-3269
19 Total Sales
-
Jon Swire
Buyer's Agent in 2019
Jon Swire
The Agency
(310) 948-2631
38 Total Sales
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: OC18252312
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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