NOT LISTED FOR SALE

623 E 7th St Long Beach, CA 90813

Saint Mary's Neighborhood

Estimated Value: $1,429,847

6 Beds
4 Baths
5,195 Sq Ft
$275/Sq Ft Est. Value

Last Sold June 10, 2022

Last sale price $1,350,000 $260 Per Sq Ft

Est. 6% increase in value since last sale

Current estimated payment $9,074/month

83 Days on Market

About This Home

As of June 2022

Fantastic mix-use investment opportunity in the heart of Long Beach! On the large 7501 sqft lot. 1 residential 4-plex apartment at the back with 2bedroom +1bath x 2 units and 1bedroom+1 bathroom x 2 units. Hardwood and tile floors. 1 Commerical building fronting on the 7th st with stable long-term tenants. All units fully leased. Ample parking of 11+ total spaces between the commercial building and the residential building, 4+ spaces secured by a gate. Convenient location for business and residence! MOTIVATED SELLER!!

Last Agent to Sell the Property

Mariko Meek

Vista Pacific Realty License #01778756 Listed on: 01/21/2022

Last Buyer's Agent

Bill D'Alvia

Vista Sotheby's Int'l Realty License #01883312

Vista Sotheby's Int'l Realty

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1952

Lot Details

  • 7,501 Sq Ft Lot
  • No Common Walls
  • Density is up to 1 Unit/Acre

Parking

  • 12 Car Garage

Home Design

  • 5,195 Sq Ft Home

Bedrooms and Bathrooms

  • 6 Bedrooms
  • 4 Bathrooms

Location

  • Urban Location

Listing and Financial Details

  • Legal Lot and Block 24 / 27
  • Tax Tract Number 576
  • Assessor Parcel Number 7274017034
  • $1,168 per year additional tax assessments

Community Details

Overview

  • 2 Buildings
  • 6 Units
  • Alamitos Beach Subdivision

Building Details

  • Rent Control
  • 6 Separate Electric Meters
  • 6 Separate Gas Meters
  • 1 Separate Water Meter
  • Electric Expense $300
  • Fuel Expense $520
  • Gardener Expense $1,400
  • Insurance Expense $4,000
  • Maintenance Expense $5,000
  • Pest Control $425
  • Professional Management Expense $5,000
  • Trash Expense $1,200
  • Water Sewer Expense $2,500
  • New Taxes Expense $18,000
  • Operating Expense $38,000
  • Gross Income $101,520
  • Net Operating Income $58,444

Property Details

Home Type

Multi-Family

Year Built

Built in 1952

Lot Details

0

Parking

12

Listing Details

  • Professional Management Expense: 5000.00
  • Property Attached: No
  • Subdivision Name Other: Alamitos Beach (AB)
  • Water Sewer Expenses: 2500.00
  • Zoning: LBCO
  • Property Type: Residential Income
  • Gardener Expense: 1400.00
  • Parcel Number: 7274017034
  • Year Built: 1952
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Common Walls: No Common Walls
  • Price Per Square Foot: 259.87

Exterior Features

  • Pool Private: No

Garage/Parking

  • Garage Spaces: 12.00
  • Total Parking Spaces: 12.00

Utilities

  • Laundry: No
  • Pest Control Expense: 425.00
  • Sewer: Public Sewer
  • Trash Expense: 1200.00
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No
  • Community Features: Urban

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: 0-1 Unit/Acre
  • Lot Size Sq Ft: 7501.00
  • Lot Size Acres: 0.1722

Multi Family

  • Electric Expense: 300.00
  • Fuel Expense: 520.00
  • Gross Income: 101520.00
  • Gross Operating Income: 96444.00
  • Gross Scheduled Income: 101520.00
  • Insurance Expense: 4000.00
  • Lot Size Area: 7501.0000 Square Feet
  • Maintenance Expense: 5000.00
  • Maintenance Percent: 5.00
  • Net Operating Income: 58444.00
  • Number Of Separate Electric Meters: 6
  • Number Of Separate Gas Meters: 6
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 6
  • Operating Expense: 38000.00
  • Operating Expense Percent: 37.00
  • Rent Control: Yes
  • Total Expenses: 38000.00
  • Vacancy Allowance Rate: 5.00

Tax Info

  • New Taxes Expense: 18000.00
  • Tax Block: 27
  • Tax Census Tract: 5763.02
  • Tax Lot: 24
  • Tax Tract Number: 576...
  • TaxOtherAnnualAssessmentAmount: 1168.00

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Feb 1, 2016
Sold by
Morales Enrique Henry
Bought by
Lead Real Estate Inc
Current Estimated Value
$1,429,847

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$498,000
Outstanding Balance
$397,383
Interest Rate
3.98%
Mortgage Type
Commercial
Estimated Equity
$1,032,464

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
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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Average Value
Not Available
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
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 List to Sale Price per Sq Ft
06/10/2022 06/10/22 Sold $1,350,000 -3.6% $260 / Sq Ft
04/14/2022 04/14/22 Pending -- -- --
04/04/2022 04/04/22 Price Changed $1,400,000 -6.6% $269 / Sq Ft
03/15/2022 03/15/22 Price Changed $1,499,000 -6.0% $289 / Sq Ft
02/05/2022 02/05/22 Price Changed $1,595,000 -1.8% $307 / Sq Ft
02/02/2022 02/02/22 Price Changed $1,625,000 -1.5% $313 / Sq Ft
01/21/2022 01/21/22 For Sale $1,650,000 -- $318 / 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 $18,729 $1,432,630 $795,906 $636,724
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

    Seller's Agent in 2022

    Mariko Meek

    Vista Pacific Realty

    (310) 305-8333

    1 in this area

    16 Total Sales

    Mariko Meek
    Section Image
  • Bill D'Alvia

    Buyer's Agent in 2022

    Bill D'Alvia

    Vista Sotheby's Int'l Realty

    (562) 508-8900

    1 in this area

    27 Total Sales

    Bill D'Alvia
    Section Image
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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: OC22010697

California Regional Multiple Listing Service (CRMLS)

APN: 7274-017-034

California Los Angeles County Long Beach 90802 Saint Mary's

623 E 7th St, Long Beach, CA

Not Listed for Sale

MultiFamily

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