NOT LISTED FOR SALE

625 Orizaba Ave Long Beach, CA 90814

Bluff Heights Neighborhood

Estimated Value: $1,648,000 - $1,904,000

8 Beds
7 Baths
4,596 Sq Ft
$377/Sq Ft Est. Value

Last Sold September 09, 2016

Last sale price $1,390,000 $302 Per Sq Ft

Est. 24% increase in value since last sale

Current estimated payment $10,737/month

3 Days on Market

Highlights

  • Ceiling Fan
  • 5 Car Garage
  • Heating Available
  • Woodrow Wilson High School Rated A
  • Laundry Facilities
  • 5-minute walk to Rose Park

About This Home

As of September 2016

Upgraded 4 unit apartment community located in the Historic Rose Park submarket of Long Beach, offering investors the opportunity to acquire a value-add asset in a strong, non-rent controlled market. Built in 1978, featuring 1 (1+1), 2 (2+2)s, and 1 (3+2), gross rentable area of 4,596 square feet, copper plumbing, a newly repaired main structure roof, a new garage roof, 5 private garages and additional tandem parking. $4800/yr garage income. The property also features a currently unused on-site laundry room with washer/dryer hookups that offers additional income potential. All units feature bright, open floor plans and large closets in the bedrooms. Select units feature updated kitchens and bathrooms with newer cabinets, fixtures, and granite countertops; one unit features bamboo flooring, and two units have fireplaces. The property is situated on a safe, quiet, residential street less than a mile from the beach, and close to the restaurants and shops of both 7th St and Retro Row.

Last Agent to Sell the Property

Mark Witsken

KW Advisors License #01884724 Listed on: 07/27/2016

KW Advisors

Last Buyer's Agent

Katherine Hulsey

Keller Williams Realty License #01924117

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1978

Lot Details

  • 5,601

Parking

  • 5 Car Garage

Interior Spaces

  • 4,596 Sq Ft Home
  • 2-Story Property
  • Ceiling Fan

Kitchen

  • Oven or Range
  • Disposal

Bedrooms and Bathrooms

  • 8 Bedrooms
  • 7 Bathrooms

Additional Features

  • 5,601 Sq Ft Lot
  • Heating Available

Listing and Financial Details

  • Assessor Parcel Number 7258-032-013

Community Details

Overview

  • 2 Buildings
  • 4 Units

Amenities

  • Laundry Facilities

Property Details

Home Type

Multi-Family

Year Built

Built in 1978

Lot Details

0

Parking

5

Listing Details

  • Property Type: Residential Income
  • Street Number Display: Yes
  • Living Area: 4596
  • Stories: 2
  • Year Built: 1978
  • State Abbrv: CA
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Bedrooms: 8
  • Laundry: Community
  • Total Bathrooms: 7.00
  • Equipment: Ceiling Fan, Garbage Disposal, Range/Oven
  • Price Per S Q F T: 303.52

Exterior Features

  • Tennis Court Y/N: No
  • Pool: No
  • View: No

Garage/Parking

  • Garage Spaces: 5
  • Number Rented Garages: 4
  • Parking Garage: Garage
  • Total Parking: 5

Utilities

  • Cooling: Ceiling Fan
  • Heating: Electric
  • Water Heaters: Yes

Lot Info

  • Assessed Improvement Value: 448650
  • Assessed Land Value: 301147
  • Assessor Parcel Number: 7258-032-013
  • Geocode Override: No
  • Lot Size Area: 5601

Rental Info

  • Garage Rental Rate: 400
  • Monthly Gross Income: 7645.00
  • Rent Control: No

Multi Family

  • Unit Type: 2106, 2107, 2108, 2109
  • Gross Rent Multiplier: 15.20
  • Gross Scheduled Income: 91740.00
  • Number Of Units: 4
  • Type Of Units: Apartments

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Sep 26, 2023
Sold by
Burt L Alfieri Living Trust
Bought by
Starboard I Va 12 Llc
Current Estimated Value
$1,721,419

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$942,000
Outstanding Balance
$920,294
Interest Rate
6.75%
Mortgage Type
New Conventional
Estimated Equity
$811,875

Purchase Details

Listed on
Jul 27, 2016
Closed on
Aug 11, 2016
Sold by
Angel John J
Bought by
Alfieri Burt L and The Burt L Alfieri Living Trust
Seller's Agent
Mark Witsken
KW Advisors
Buyer's Agent
Katherine Hulsey
Keller Williams Realty
List Price
$1,395,000
Sold Price
$1,390,000
Premium/Discount to List
-$5,000
-0.36%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
2.38%

Purchase Details

Closed on
Jul 27, 2009
Sold by
Angel John
Bought by
Angel John and The John J Angel Jr Living Trust
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
Starboard I Va 12 Llc $1,570,000 First American Title
Alfieri Burt L $1,390,000 North American Title
Angel John -- None Available
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Starboard I Va 12 Llc $942,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
09/09/2016 09/09/16 Sold $1,390,000 -0.4% $302 / Sq Ft
07/27/2016 07/27/16 For Sale $1,395,000 0.0% $304 / Sq Ft
09/25/2014 09/25/14 Rented $2,400 +20.0% --
08/26/2014 08/26/14 Under Contract -- -- --
08/21/2014 08/21/14 For Rent $2,000 -- --
Source: The MLS

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 $20,934 $1,601,400 $1,020,000 $581,400
2024 $20,934 $1,570,000 $1,000,000 $570,000
2023 $20,250 $1,550,566 $948,188 $602,378
2022 $19,006 $1,520,164 $929,597 $590,567
2021 $18,625 $1,490,358 $911,370 $578,988
2019 $18,359 $1,446,556 $884,340 $562,216
2018 $17,867 $1,418,200 $867,000 $551,200
2016 $9,469 $761,230 $305,739 $455,491
2015 $9,095 $749,797 $301,147 $448,650
2014 $9,043 $735,110 $295,248 $439,862
Source: Public Records

Agents Affiliated with this Home

  • M

    Seller's Agent in 2016

    Mark Witsken

    KW Advisors

    Section Image

  • K

    Buyer's Agent in 2016

    Katherine Hulsey

    Keller Williams Realty

  • E

    Seller's Agent in 2014

    Eric Adrian

    CA Property Management

    (562) 489-3704

    6 Total Sales

    Eric Adrian
    Section Image
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Map

Source: The MLS

MLS Number: 16-148232

The MLS

APN: 7258-032-013

California Los Angeles County Long Beach 90814 Bluff Heights

625 Orizaba Ave, Long Beach, CA

Not Listed for Sale

MultiFamily

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