B
Seller's Agent in 2016
Brad Miles
INCO Commercial Realty Inc
623 E 7th St Long Beach, CA 90813
Saint Mary's NeighborhoodEstimated Value: $1,424,146
3
Beds
4
Baths
5,195
Sq Ft
$274/Sq Ft
Est. Value
Highlights
- Gated Parking
- Long Beach Polytechnic High School Rated A
- 0.17 Acre Lot
About This Home
As of February 2016***2ND PRICE REDUCTION. Owner is willing to carry up to $75,000 to help sale.
5.6% Cap rate on existing income! Only $167 per square foot. (2) Buildings along with plenty of onsite parking:
First, a 4-plex apartment with (2) 2+1 and (2) 1+1 units. Clean exterior, separate meters. Units have been toured and interiors are good sized and in good shape, especially kitchens and baths. Hardwood or tile exists throughout 3 of the 4 units.
Ample parking of 14 total spaces exists between the building, 6 spaces having the ability to be secured by a gate.
Fronting on 7th street, the retail building consists of 2 units measuring approximately 1100 and 900 square feet. The 1100 square foot space is occupied by a long term tenant Insurance agency. A long term lease could be secured during escrow. The smaller space is currently occupied by a dance studio. More information regarding leases available upon request.
Last Agent to Sell the Property
Brad Miles
INCO Commercial Realty Inc License #00927860 Listed on: 08/03/2015
Last Buyer's Agent
Mariko Meek
Shore Capital Corporation License #01778756
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $18,729
Year Built
- Built in 1952
Lot Details
- 7,501 Sq Ft Lot
- Two or More Common Walls
- Density is 6-10 Units/Acre
Home Design
- 5,195 Sq Ft Home
- Property Attached
Bedrooms and Bathrooms
- 3 Bedrooms
- 4 Bathrooms
Parking
- 24 Parking Spaces
- Parking Available
- Driveway
- Gated Parking
- Paved Parking
- Off-Street Parking
Outdoor Features
- Exterior Lighting
- Rain Gutters
Listing and Financial Details
- Tenant pays for electricity, gas
- Tax Lot 23
- Assessor Parcel Number 7274017034
Community Details
Overview
- 2 Buildings
- 6 Units
Building Details
- 7 Separate Electric Meters
- 7 Separate Gas Meters
- 1 Separate Water Meter
- Electric Expense $480
- Insurance Expense $1,818
- Maintenance Expense $2,400
- Other Expense $1,200
- Professional Management Expense $4,630
- Trash Expense $383
- Water Sewer Expense $2,348
- New Taxes Expense $11,339
- Gross Income $77,160
- Net Operating Income $48,537
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Closed on
May 25, 2022
Sold by
Lead Real Estate Inc
Bought by
623 7Th Street Llc
Current Estimated Value
Purchase Details
Listed on
Aug 3, 2015
Closed on
Feb 1, 2016
Sold by
Morales Enrique Henry
Bought by
Lead Real Estate Inc
Seller's Agent
Brad Miles
INCO Commercial Realty Inc
Buyer's Agent
Mariko Meek
Shore Capital Corporation
List Price
$879,000
Sold Price
$828,500
Premium/Discount to List
-$50,500
-5.75%
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
5.82%
Original Mortgage
$498,000
Interest Rate
3.98%
Mortgage Type
Commercial
Purchase Details
Closed on
Apr 17, 2013
Sold by
Fuentes Theresa
Bought by
Morales Enrique Henry
Purchase Details
Closed on
Sep 5, 2008
Sold by
Morales Enrique H
Bought by
Fuentes Theresa
Purchase Details
Closed on
Feb 1, 2006
Sold by
Whaling Thomas and Richard John Whaling Trust
Bought by
Fuentes Theresa and Morales Enrique Henry
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$600,000
Interest Rate
6.21%
Mortgage Type
Seller Take Back
Purchase Details
Closed on
Jan 19, 2006
Sold by
Whaling Thomas and Richard John Whaling Trust
Bought by
Whaling Thomas and Richard John Whaling Trust
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$600,000
Interest Rate
6.21%
Mortgage Type
Seller Take Back
Purchase Details
Closed on
Jan 4, 2006
Sold by
Morales Hilda C
Bought by
Morales Enrique Henry
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$600,000
Interest Rate
6.21%
Mortgage Type
Seller Take Back
Purchase Details
Closed on
Feb 28, 2005
Sold by
Whaling Richard John and The Richard John Whaling Trust
Bought by
The Richard John Whaling Trust
Purchase Details
Closed on
Jan 11, 2003
Sold by
Whaling Richard J and Whaling Joseph T
Bought by
Whaling Richard J
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area
Home Values in the Area
Average Home Value in this Area
Purchase History
| Date | Buyer | Sale Price | Title Company |
|---|---|---|---|
| Lead Real Estate Inc | $829,000 | Stewart Title Orange County | |
| Morales Enrique Henry | -- | None Available | |
| Fuentes Theresa | -- | None Available | |
| Fuentes Theresa | $700,000 | Fidelity National Title Co | |
| Whaling Thomas | -- | Fidelity National Title Co | |
| Morales Enrique Henry | -- | Fidelity National Title Co | |
| The Richard John Whaling Trust | -- | None Available | |
| Whaling Richard J | -- | -- |
Source: Public Records
Mortgage History
| Date | Status | Borrower | Loan Amount |
|---|---|---|---|
| Open | Lead Real Estate Inc | $498,000 | |
| Previous Owner | Fuentes Theresa | $600,000 |
Source: Public Records
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 02/12/2016 02/12/16 | Sold | $828,500 | -5.7% | $159 / Sq Ft |
| 11/30/2015 11/30/15 | Pending | -- | -- | -- |
| 08/03/2015 08/03/15 | For Sale | $879,000 | -- | $169 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
Tax History Compared to Growth
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 |
|---|---|---|---|---|
| 2024 | $18,729 | $1,404,540 | $780,300 | $624,240 |
| 2023 | $18,413 | $1,377,000 | $765,000 | $612,000 |
| 2022 | $12,239 | $924,760 | $669,309 | $255,451 |
| 2021 | $11,972 | $906,629 | $656,186 | $250,443 |
| 2019 | $11,802 | $879,740 | $636,724 | $243,016 |
| 2018 | $11,383 | $862,491 | $624,240 | $238,251 |
| 2016 | $7,845 | $603,334 | $239,253 | $364,081 |
| 2015 | $7,544 | $594,273 | $235,660 | $358,613 |
| 2014 | $7,495 | $582,633 | $231,044 | $351,589 |
Source: Public Records
Agents Affiliated with this Home
-
-
M
Buyer's Agent in 2016
Mariko Meek
Shore Capital Corporation
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: PW15170857
APN: 7274-017-034
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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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