NOT LISTED FOR SALE

624 W 5th St Long Beach, CA 90802

West Village Neighborhood
5 Beds
7 Baths
4,644 Sq Ft
9,993 Sq Ft Lot

Last Sold June 26, 2014

Last sale price $1,150,000 $248 Per Sq Ft

129 Days on Market

Highlights

  • City Lights View
  • Wood Flooring
  • Laundry Room
  • 0.23 Acre Lot
  • No HOA
  • 4-minute walk to Cesar E Chavez Park

About This Home

As of June 2014

We are proud to offer a well-maintained 12 unit building located at 624 W. 5thth Street. The property is three blocks west of Magnolia Avenue and two blocks south of 7th Street, in the city of Long Beach. The property is a single story center courtyard building consisting of 5 studio/one bathroom units, 6 one bedroom/ one bathroom and 1 two bedroom/ one bathroom. The wood frame, painted stucco building offers 4644 rentable square feet and was constructed in 1923 and renovated in 2013. The property was recently separated for gas and electric meters and offers many upgrades such as new exterior paint, new windows, new kitchens, new flooring, and new garage doors to compliment the curb appeal of the property. Situated within close proximity to the new $395 million dollar Governor George Deukmejian Court House and numerous restaurants and shopping at the Pike and North Pine Ave, this offering is well situated to handle the high demand for housing.

Last Agent to Sell the Property

Ryan Rayburn

Marcus & Millichap License #01496522 Listed on: 02/17/2014

Last Buyer's Agent

Anthony Walker

Buckingham Investments, Inc License #01908153

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1923 | Remodeled

Lot Details

  • 9,993 Sq Ft Lot
  • Two or More Common Walls
  • Density is 11-15 Units/Acre

Parking

  • 6 Car Garage
  • Parking Available
  • Unassigned Parking

Home Design

  • Property Attached
  • Flat Roof Shape
  • Raised Foundation

Interior Spaces

  • 4,644 Sq Ft Home
  • 1-Story Property
  • Wood Flooring
  • City Lights Views
  • Convection Oven
  • Laundry Room

Bedrooms and Bathrooms

  • 5 Bedrooms
  • 7 Bathrooms

Outdoor Features

  • Exterior Lighting

Listing and Financial Details

  • Tenant pays for cable TV, electricity, gas
  • Legal Lot and Block 2,4 / 140
  • Assessor Parcel Number 7278025021

Community Details

Overview

  • No Home Owners Association
  • 2 Buildings
  • 12 Units

Amenities

  • Laundry Facilities

Building Details

  • 12 Separate Electric Meters
  • 12 Separate Gas Meters
  • 1 Separate Water Meter
  • Electric Expense $8,400
  • Insurance Expense $1,625
  • Maintenance Expense $6,000
  • Professional Management Expense $5,703
  • New Taxes Expense $13,388
  • Gross Income $10,005
  • Net Operating Income $76,361

Property Details

Home Type

Multi-Family

Year Built

Built in 1923 | Remodeled

Lot Details

0

Parking

6

Listing Details

  • CapRate: 6.42
  • Price Per Unit: 99167
  • Professional Management Expense: 5703.00
  • Property Attached: Yes
  • Subdivision Name Other: Downtown (DT)
  • View: Yes
  • Zoning: LBPD30
  • Property Condition: Updated/Remodeled
  • Property Type: Residential Income
  • Parcel Number: 7278025021
  • Year Built: 1923
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Stories: 1
  • Common Walls: 2+ Common Walls
  • Flooring: Wood
  • Appliances: Yes
  • Levels: One
  • Price Per Square Foot: 247.63

Exterior Features

  • Foundation: Raised
  • View: City Lights
  • Pool Private: No
  • Roof: Flat
  • Spa: No

Garage/Parking

  • Garage Spaces: 6.00
  • Parking: Yes
  • Parking Features: Unassigned
  • Total Parking Spaces: 12.00

Utilities

  • Utilities: Sewer Connected, Water Available
  • Laundry: Yes
  • Appliances: Convection Oven
  • Laundry Features: Common Area

Condo/Co-op/Association

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

Lot Info

  • Lot Features: 11-15 Units/Acre
  • Lot Size Sq Ft: 9993.00
  • Lot Size Acres: 0.2290

Rental Info

  • Tenant Pays: Cable TV, Electricity, Gas

Multi Family

  • Electric Expense: 8400.00
  • Gross Income: 10005.00
  • Gross Multiplier: 9.91
  • Gross Scheduled Income: 120060.00
  • Insurance Expense: 1625.00
  • Lot Size Area: 9993.0000 Square Feet
  • Maintenance Expense: 6000.00
  • Net Operating Income: 76361.00
  • Number Of Separate Electric Meters: 12
  • Number Of Separate Gas Meters: 12
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 12
  • Number With Carpet: 3
  • Number With Range: 12
  • Number With Refrigerator: 12
  • Operating Expense: 37696.00
  • Rent Control: No
  • Vacancy Allowance Rate: 5.00

Tax Info

  • New Taxes Expense: 13388.00
  • Tax Block: 140
  • Tax Lot: 2,4

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price Change Sq Ft Price
06/26/2014 06/26/14 Sold $1,150,000 -3.4% $248 / Sq Ft
06/26/2014 06/26/14 Pending -- -- --
02/17/2014 02/17/14 For Sale $1,190,000 -- $256 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • R

    Seller's Agent in 2014

    Ryan Rayburn

    Marcus & Millichap

  • Anthony Walker

    Buyer's Agent in 2014

    Anthony Walker

    Buckingham Investments, Inc

    (310) 982-7055

    3 in this area

    80 Total Sales

    Anthony Walker
    Section Image
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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PW14061577

California Regional Multiple Listing Service (CRMLS)
California Los Angeles County Long Beach 90802 West Village

624 W 5th St, Long Beach, CA

This home is located at 624 W 5th St, Long Beach, CA 90802 since 17 February 2014. This property was built in 1923. 624 W 5th St is a home located in Los Angeles County with nearby schools including Cesar Chavez Elementary School, Washington Middle School, and Juan Rodriguez Cabrillo High School.

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.

California Regional Multiple Listing Service (CRMLS) 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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