NOT LISTED FOR SALE

Estimated Value: $1,378,371

3 Beds
7 Baths
6,086 Sq Ft
$226/Sq Ft Est. Value

Last Sold February 15, 2022

Last sale price $1,200,000 $197 Per Sq Ft

Est. 15% increase in value since last sale

Current estimated payment $8,899/month

1 Day on Market

Highlights

  • No HOA
  • Park
  • Bike Trail
  • 4 Car Direct Access Garage
  • Floor Furnace
  • Block Wall Fence

About This Home

As of February 2022

EXTREMELY ATTRACTIVE INVESTMENT OFFERING: ***Low price per sqft with significant upside potential ***Two separate 2-story buildings mixed use, 4 retail units and 6 units 1 Bedr. + 1 Bath ***Each unit is individually metered for electricity and gas *Large lot with tenant parking and 2 two-car garages for extra income ***Apartment units have been upgraded ***GREAT LOCATION in high demand rental area near freeways, parks, schools, supported by City of Long Beach Uptown Property & Business Improvement District (PBID). Find out more information and see for yourself.

Last Agent to Sell the Property

Brigitte Schroeder

MJC Realty License #01705827 Listed on: 11/17/2021

Last Buyer's Agent

Brigitte Schroeder

MJC Realty License #01705827 Listed on: 11/17/2021

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $18,668

Year Built

  • Built in 1946

Lot Details

  • 9,180 Sq Ft Lot
  • 1 Common Wall
  • Block Wall Fence
  • Density is up to 1 Unit/Acre

Parking

  • 4 Car Direct Access Garage
  • 9 Open Parking Spaces
  • Parking Available
  • Side Facing Garage
  • Two Garage Doors
  • Driveway
  • Assigned Parking

Home Design

  • Property Attached
  • Slab Foundation
  • Composition Roof

Interior Spaces

  • 6,086 Sq Ft Home
  • 2-Story Property
  • Laminate Flooring

Bedrooms and Bathrooms

  • 3 Bedrooms
  • All Upper Level Bedrooms
  • 7 Bathrooms

Outdoor Features

  • Exterior Lighting

Utilities

  • Floor Furnace
  • Cable TV Available

Listing and Financial Details

  • Tenant pays for electricity, gas
  • Legal Lot and Block 6 / 2
  • Tax Tract Number 6521
  • Assessor Parcel Number 7124016005

Community Details

Overview

  • No Home Owners Association
  • 2 Buildings
  • 10 Units
  • North Long Beach Subdivision

Recreation

  • Park
  • Bike Trail

Building Details

  • 10 Leased Units
  • Rent Control
  • 10 Separate Electric Meters
  • 10 Separate Gas Meters
  • 1 Separate Water Meter
  • Gardener Expense $1,140
  • Insurance Expense $4,500
  • Professional Management Expense $4,800
  • Water Sewer Expense $5,206
  • Operating Expense $15,646
  • Net Operating Income $70,924

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$18,668

Year Built

Built in 1946

Lot Details

0

Parking

4

Listing Details

  • Assessments: Yes
  • Price Per Unit: 130000
  • Professional Management Expense: 4800.00
  • Property Attached: Yes
  • Subdivision Name Other: North Long Beach (NLB)
  • Water Sewer Expenses: 5206.00
  • Zoning: LBCNA
  • Property Sub Type: Commercial/Residential
  • Property Type: Residential Income
  • Gardener Expense: 1140.00
  • Parcel Number: 7124016005
  • Year Built: 1946
  • Special Features: None

Interior Features

  • Fireplace: No
  • Stories: 2
  • Common Walls: 1 Common Wall
  • Flooring: Laminate
  • Appliances: No
  • Levels: Two
  • Price Per Square Foot: 197.17
  • Room Type: All Bedrooms Up

Exterior Features

  • Foundation: Slab
  • Fence: Yes
  • Fencing: Block
  • Pool Private: No
  • Roof: Composition

Garage/Parking

  • Garage Spaces: 4.00
  • Parking: Yes
  • Parking Features: Assigned, Direct Garage Access, Driveway, Paved, Garage Faces Side, Garage - Two Door
  • Total Parking Spaces: 13.00
  • Uncovered Spaces: 9.00

Utilities

  • Utilities: Cable Available, Electricity Available, Electricity Connected, Natural Gas Available, Natural Gas Connected, Sewer Available, Sewer Connected, Water Available, Water Connected
  • Heating: Yes
  • Laundry: No
  • Electric: Electricity - On Property
  • Heating Type: Floor Furnace
  • Sewer: Public Sewer
  • Water Source: Public

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Community Features: Biking, Park, Sidewalks, Street Lights

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: 0-1 Unit/Acre
  • Lot Size Sq Ft: 9180.00
  • Lot Size Acres: 0.2107
  • Latitude Manual: 33.86488500

Rental Info

  • Tenant Pays: Electricity, Gas

Multi Family

  • Gross Multiplier: 13.55
  • Gross Scheduled Income: 95940.00
  • Insurance Expense: 4500.00
  • Lot Size Area: 9180.0000 Square Feet
  • Net Operating Income: 70924.00
  • Number Of Separate Electric Meters: 10
  • Number Of Separate Gas Meters: 10
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 10
  • Number Of Units Total: 10
  • Operating Expense: 25016.00
  • Rent Control: Yes
  • Total Actual Rent: 95940.00
  • Total Expenses: 15646.00

Tax Info

  • Tax Block: 2
  • Tax Census Tract: 5705.01
  • Tax Lot: 6
  • Tax Tract Number: 6521

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Nov 17, 2021
Closed on
Jan 11, 2022
Sold by
Lawrence C Ito C and Lawrence Josefina H
Bought by
Pacific Pch Llc and Apartment Partners Llc
Seller's Agent
Brigitte Schroeder
MJC Realty
Buyer's Agent
Brigitte Schroeder
MJC Realty
List Price
$1,300,000
Sold Price
$1,200,000
Premium/Discount to List
-$100,000
-7.69%
Current Estimated Value
$1,378,371

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$178,371
Avg. Annual Appreciation
3.62%
Original Mortgage
$960,000
Interest Rate
3.56%
Mortgage Type
New Conventional

Purchase Details

Closed on
Jul 3, 2017
Sold by
Ito Lawrence C
Bought by
Ito Lawrence C and Ito Josefina

Purchase Details

Closed on
Dec 4, 2012
Sold by
Ito Josefina H
Bought by
Ito Lawrence C

Purchase Details

Closed on
Nov 30, 2012
Sold by
County Of Los Angeles Public Administrat
Bought by
Ito Lawrence C

Purchase Details

Closed on
Feb 13, 2001
Sold by
Rossi Jorge
Bought by
Carranza Fermin

Purchase Details

Closed on
Aug 10, 2000
Sold by
Carranza Fermin
Bought by
Clement 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
6.98%
Mortgage Type
Commercial

Purchase Details

Closed on
May 11, 1999
Sold by
Bankers Trust Company Of California Na
Bought by
Carranza Fermin

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$256,000
Interest Rate
6.92%
Mortgage Type
Commercial

Purchase Details

Closed on
Apr 27, 1999
Sold by
Carranza Fermin
Bought by
Rossi Jorge

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$256,000
Interest Rate
6.92%
Mortgage Type
Commercial

Purchase Details

Closed on
Oct 2, 1998
Sold by
Aguiling Frankdelroose P
Bought by
Rtc Commercial Mtg Pass Through Certific
Source: Public Records

Range of Values:

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Average Value
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Pacific Pch Llc $1,200,000 None Listed On Document
Ito Lawrence C -- None Available
Ito Lawrence C -- Fidelity Van Nuys
Ito Lawrence C $578,000 Fidelity Van Nuys
Carranza Fermin -- American Title Co
Clement Michael -- American Title Co
Carranza Fermin -- Commonwealth Title
Rossi Jorge $320,000 Stewart Title
Rtc Commercial Mtg Pass Through Certific $190,000 First American Title Ins Co
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Pacific Pch Llc $2,477,930
Closed Pacific Pch Llc $960,000
Previous Owner Clement Michael $320,000
Previous Owner Clement Michael $320,000
Previous Owner Clement Michael $300,000
Previous Owner Rossi Jorge $256,000
Closed Rossi Jorge $64,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
02/15/2022 02/15/22 Sold $1,200,000 -7.7% $197 / Sq Ft
11/18/2021 11/18/21 Pending -- -- --
11/17/2021 11/17/21 For Sale $1,300,000 -- $214 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Tax History

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 $18,668 $1,273,449 $848,966 $424,483
2024 $18,668 $1,248,480 $832,320 $416,160
2023 $17,345 $1,224,000 $816,000 $408,000
2022 $9,924 $670,704 $406,136 $264,568
2021 $9,714 $657,554 $398,173 $259,381
2019 $9,558 $638,053 $386,364 $251,689
2018 $9,182 $625,543 $378,789 $246,754
2016 $8,416 $601,254 $364,081 $237,173
2015 $8,120 $592,224 $358,613 $233,611
2014 $8,078 $580,624 $351,589 $229,035
Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PW21250924

California Regional Multiple Listing Service (CRMLS)

APN: 7124-016-005