NOT LISTED FOR SALE
4 Beds
10 Baths
17,718 Sq Ft
7,506 Sq Ft Lot

Last Sold July 21, 2014

Last sale price $2,750,000 $155 Per Sq Ft

15 Days on Market

About This Home

As of July 2014

The Whiting Apartments, located just a few blocks north of City Hall, the new courthouse and World Trade Center, 636 Chestnut is one of the most immaculate properties in downtown Long Beach. Beginning with the entry area and extending through the units to the rear of the property, everything is in excellent condition.

The unit mix consists of (8) 1 bed + 1 bath units measuring 725+ square feet and (25) Studio-1 bath units measuring 550+ square feet. Some kitchens and baths have been upgraded, but the rest in vintage style are very clean and in great condition

Utilities are Master metered for both gas and electric service. A laundry facility is located in the basement of the property

A new roof was installed only 2 1/2 years ago!

Last Agent to Sell the Property

Brad Miles

INCO Commercial Realty Inc License #00927860 Listed on: 04/22/2014

Last Buyer's Agent

Robert Stepp

Keller Williams Realty Downey License #01456379

Keller Williams Realty Downey

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1922

Lot Details

  • 7,506 Sq Ft Lot
  • Two or More Common Walls
  • Density is 31-35 Units/Acre

Home Design

  • 17,718 Sq Ft Home
  • Property Attached

Bedrooms and Bathrooms

  • 4 Bedrooms
  • 10 Bathrooms

Outdoor Features

  • Exterior Lighting
  • Rain Gutters

Listing and Financial Details

  • Tax Lot 10
  • Assessor Parcel Number 7272022007

Community Details

Overview

  • 33 Units

Building Details

  • 1 Separate Electric Meter
  • 1 Separate Gas Meter
  • 1 Separate Water Meter
  • Electric Expense $11,888
  • Gardener Expense $450
  • Insurance Expense $8,985
  • Maintenance Expense $13,200
  • Other Expense $4,527
  • Professional Management Expense $12,809
  • Trash Expense $2,323
  • Water Sewer Expense $8,102
  • New Taxes Expense $34,720
  • Gross Income $24,708
  • Net Operating Income $166,455

Property Details

Home Type

Multi-Family

Year Built

Built in 1922

Lot Details

7,506 Sq Ft Lot

Listing Details

  • Professional Management Expense: 12809.00
  • Property Attached: Yes
  • Subdivision Name Other: Willmore District (WM)
  • Water Sewer Expenses: 8102.00
  • Property Type: Residential Income
  • Gardener Expense: 450.00
  • Parcel Number: 7272022007
  • Year Built: 1922
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Common Walls: 2+ Common Walls
  • Price Per Square Foot: 155.21

Exterior Features

  • Pool Private: No

Utilities

  • Utilities: Sewer Available
  • Trash Expense: 2323.00
  • Water Source: Public

Condo/Co-op/Association

  • Community Features: Curbs, Gutters, Sidewalks, Street Lights, Storm Drains

Lot Info

  • Lot Features: 31-35 Units/Acre
  • Lot Size Sq Ft: 7506.00
  • Lot Size Acres: 0.1720

Multi Family

  • Electric Expense: 11888.00
  • Gross Income: 24708.00
  • Gross Multiplier: 10.46
  • Gross Scheduled Income: 296496.00
  • Insurance Expense: 8985.00
  • Lot Size Area: 7506.0000 Square Feet
  • Maintenance Expense: 13200.00
  • Net Operating Income: 166455.00
  • Number Of Separate Electric Meters: 1
  • Number Of Separate Gas Meters: 1
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 33
  • Operating Expense: 111255.00
  • Operating Expense Percent: 37.52
  • Other Expense: 4527.00
  • Other Expense Description: Misc
  • Rent Control: No
  • Vacancy Allowance Rate: 4.00

Tax Info

  • New Taxes Expense: 34720.00
  • Tax Lot: 10
  • Tax Tract Number: 0000
  • Tax Year: 2013
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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 List to Sale Price per Sq Ft
07/21/2014 07/21/14 Sold $2,750,000 -11.3% $155 / Sq Ft
05/07/2014 05/07/14 Pending -- -- --
04/22/2014 04/22/14 For Sale $3,100,000 -- $175 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

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 $101,789 $7,534,576 $4,881,556 $2,653,020
2024 $97,353 $7,386,840 $4,785,840 $2,601,000
2023 $95,674 $7,242,000 $4,692,000 $2,550,000
2022 $89,781 $7,100,000 $4,600,000 $2,500,000
2021 $71,312 $5,508,027 $3,857,825 $1,650,202
2019 $69,635 $5,366,327 $3,743,400 $1,622,927
2018 $68,088 $5,261,530 $3,670,000 $1,591,530
2016 $36,717 $2,791,937 $1,954,356 $837,581
2015 $35,307 $2,750,000 $1,925,000 $825,000
2014 $7,280 $240,164 $44,976 $195,188
Source: Public Records

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PW14082407

California Regional Multiple Listing Service (CRMLS)
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