NOT LISTED FOR SALE

638 E 7th St Long Beach, CA 90813

East Village Neighborhood

Estimated Value: $1,327,000 - $1,791,000

12 Beds
5 Baths
4,160 Sq Ft
$368/Sq Ft Est. Value

Last Sold October 16, 2012

Last sale price $590,000 $142 Per Sq Ft

Est. 159% increase in value since last sale

Current estimated payment $8,826/month

58 Days on Market

Highlights

  • 0.07 Acre Lot
  • Traditional Architecture
  • No Heating
  • Long Beach Polytechnic High School Rated A

About This Home

As of October 2012

***GREAT OPPORTUNITY TO OWN THIS FOURPLEX IN DOWNTOWN LONG BEACH*** Unit 640: downstairs unit with living room entrance; dining and kitchen combination with gas BIRO, venthood, disposal; hallway off living gives access to full bathroom. Unit 642: located upstairs with gas wall furnace; 3 bedrooms off of hall with a full bathroom; master bedroom has a private full bathroom; dining area with kitchen combination. Unit 644: downstairs unit has a liing room entry with dining area and kitchen combination with double sink, disposal, venthood; hallway opens to 3 bedrooms and full bathroom with bath tub and shower combination. Unit 638: (seperate building) has living room entry with dining area and kitchen combination with Formica countertops, disposal, vent hood, hallway with gas wall furnace opens to 2 bedrooms and a full bathroom. Rent's are taken from Section 8 rents and are for example purposes only. On street parking.

Last Agent to Sell the Property

Laura Roman

Boardwalk Properties License #00458210 Listed on: 07/10/2012

Last Buyer's Agent

Nicolai Glazer

Pacific Sotheby's Int'l Realty License #01857997

Pacific Sotheby's Int'l Realty

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1951

Lot Details

  • 2,997 Sq Ft Lot
  • Lot Dimensions are 60x50

Home Design

  • 4,160 Sq Ft Home
  • Traditional Architecture
  • Stucco

Bedrooms and Bathrooms

  • 12 Bedrooms
  • 5 Bathrooms

Utilities

  • No Heating

Listing and Financial Details

  • Legal Lot and Block 3 / 46
  • Assessor Parcel Number 7274018024

Community Details

Overview

  • 2 Buildings
  • 4 Units

Building Details

  • 5 Separate Electric Meters
  • 4 Separate Gas Meters
  • 1 Separate Water Meter
  • New Taxes Expense $11,346
  • Gross Income $7,209
  • Net Operating Income $69,206

Property Details

Home Type

Multi-Family

Year Built

Built in 1951

Lot Details

0

Listing Details

  • Assessments: No
  • CapRate: 16.48
  • View: No
  • Architectural Style: Traditional
  • Property Type: Residential Income
  • Parcel Number: 7274018024
  • Year Built: 1951
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Fireplace: No
  • Appliances: No
  • Levels: Two
  • Price Per Square Foot: 141.83

Exterior Features

  • Pool Private: No
  • Spa: No
  • Construction Materials: Stucco

Garage/Parking

  • Parking: No

Utilities

  • Heating: No
  • Laundry: No

Condo/Co-op/Association

  • Senior Community: No

Lot Info

  • Lot Size: 60x50
  • Lot Size Sq Ft: 2997.00
  • Lot Size Acres: 0.0690

Multi Family

  • Gross Income: 7209.00
  • Gross Multiplier: 4.85
  • Gross Scheduled Income: 86508.00
  • Lot Size Area: 2997.0000 Square Feet
  • Net Operating Income: 69206.00
  • Number Of Separate Electric Meters: 5
  • Number Of Separate Gas Meters: 4
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 4
  • Operating Expense: 17302.00

Tax Info

  • New Taxes Expense: 11346.00
  • Tax Area: 11933
  • Tax Block: 46
  • Tax Lot: 3

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jul 10, 2012
Closed on
Oct 10, 2012
Sold by
Citibank Na
Bought by
Primus Group Llc
Seller's Agent
Laura Roman
Boardwalk Properties
Buyer's Agent
Nicolai Glazer
Pacific Sotheby's Int'l Realty
List Price
$419,900
Sold Price
$590,000
Premium/Discount to List
$170,100
40.51%
Current Estimated Value
$1,530,000

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$940,000
Avg. Annual Appreciation
7.49%

Purchase Details

Closed on
Dec 22, 2011
Sold by
Grimm Michael
Bought by
Citibank Na

Purchase Details

Closed on
Sep 19, 2006
Sold by
Young Larry and The Larry Young Living Trust
Bought by
Grimm Michael

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$650,000
Interest Rate
7%
Mortgage Type
Negative Amortization

Purchase Details

Closed on
Jan 6, 2006
Sold by
Young Larry
Bought by
Young Larry and Larry Young Living Grust

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$25,050
Interest Rate
6.16%
Mortgage Type
Stand Alone Second

Purchase Details

Closed on
Nov 17, 2004
Sold by
Young Larry and Young Debbie
Bought by
Young Larry and Larry Young Living Trust

Purchase Details

Closed on
Jan 28, 2003
Sold by
Trans Global Real Estate Llc
Bought by
Young Larry and Young Debbie

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$398,600
Interest Rate
5.83%

Purchase Details

Closed on
Jan 15, 2003
Sold by
Ness Steven S
Bought by
Trans Global Real Estate Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$398,600
Interest Rate
5.83%

Purchase Details

Closed on
Jun 5, 2002
Sold by
Quimby Diane Marie
Bought by
Quimby Randall

Purchase Details

Closed on
May 20, 2002
Sold by
Quimby George E
Bought by
Stein Katharine S

Purchase Details

Closed on
May 14, 2002
Sold by
Friedman Rochelle R and The Friedman Living Trust
Bought by
Ness Steven S

Purchase Details

Closed on
Apr 25, 2002
Sold by
Nne Enyem
Bought by
The Friedman Living Trust and The Max & Ruth K Handel Intervivos Trust

Purchase Details

Closed on
Mar 31, 2001
Sold by
Hud
Bought by
Nne Enyem and Community Center

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$216,000
Interest Rate
7.09%

Purchase Details

Closed on
Sep 30, 1999
Sold by
First Nationwide Mtg Corp
Bought by
Hud

Purchase Details

Closed on
Jul 29, 1998
Sold by
Cordero Humberto
Bought by
Mcmahon Richard Mark and Ramirez Eufrosina Carmen

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$310,299
Interest Rate
6.9%
Mortgage Type
FHA

Purchase Details

Closed on
Jul 16, 1998
Sold by
Wilshire Funding Corp
Bought by
Cordero Humberto

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$310,299
Interest Rate
6.9%
Mortgage Type
FHA

Purchase Details

Closed on
May 8, 1998
Sold by
Machado Ruben and Machado Ofelia
Bought by
Wilshire Funding Corp

Purchase Details

Closed on
Apr 24, 1997
Sold by
Imperial Thrift & Loan Assn
Bought by
Murillo Santiago

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$305,574
Interest Rate
7.98%
Mortgage Type
FHA

Purchase Details

Closed on
Apr 23, 1997
Sold by
Murillo Santiago
Bought by
Machado Ruben and Machado Ofelia

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$305,574
Interest Rate
7.98%
Mortgage Type
FHA

Purchase Details

Closed on
Dec 27, 1995
Sold by
Rodgers David D
Bought by
Revocabl Rodgers David Douglas and Revocabl David Douglas Rodgers
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
Primus Group Llc $590,000 Ticor Title Riverside
Citibank Na $818,829 Servicelink
Grimm Michael $915,000 First American Title Co
Young Larry -- Commonwealth Land Title Co
Young Larry $25,000 Commonwealth Title
Young Larry -- Commonwealth Title
Young Larry -- --
Young Larry $499,000 Natc
Trans Global Real Estate Llc -- --
Quimby Randall -- Investors Title
Stein Katharine S -- Investors Title
Quimby George E -- Investors Title
Ness Steven S $269,000 Investors Title Company
The Friedman Living Trust $234,356 Commerce Title Co
Nne Enyem $183,500 United Title Company
Hud -- --
First Nationwide Mtg Corp $332,021 Stewart Title
Mcmahon Richard Mark $325,000 Southland Title Corporation
Cordero Humberto $158,000 Benefit Land Title Company
Wilshire Funding Corp $144,000 Benefit Land Title Ins Co
Murillo Santiago $135,000 South Coast Title
Machado Ruben $320,000 Fidelity National Title
Revocabl Rodgers David Douglas -- --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Grimm Michael $650,000
Previous Owner Young Larry $25,050
Previous Owner Young Larry $658,000
Previous Owner Young Larry $398,600
Previous Owner Nne Enyem $216,000
Previous Owner Mcmahon Richard Mark $310,299
Previous Owner Cordero Humberto $142,000
Previous Owner Machado Ruben $305,574
Closed Young Larry $50,500
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
10/16/2012 10/16/12 Sold $590,000 +40.5% $142 / Sq Ft
09/06/2012 09/06/12 Pending -- -- --
07/10/2012 07/10/12 For Sale $419,900 -- $101 / 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 $9,710 $726,529 $504,878 $221,651
2024 $9,710 $712,284 $494,979 $217,305
2023 $9,548 $698,319 $485,274 $213,045
2022 $8,973 $684,627 $475,759 $208,868
2021 $8,774 $671,204 $466,431 $204,773
2020 $8,750 $664,323 $461,649 $202,674
2019 $8,648 $651,298 $452,598 $198,700
2018 $8,407 $638,528 $443,724 $194,804
2016 $7,718 $613,736 $426,495 $187,241
2015 $7,415 $604,518 $420,089 $184,429
2014 $7,376 $592,678 $411,861 $180,817
Source: Public Records

Agents Affiliated with this Home

  • Laura Roman

    Seller's Agent in 2012

    Laura Roman

    Boardwalk Properties

    (562) 209-3645

    38 Total Sales

    Section Image
  • Nicolai Glazer

    Buyer's Agent in 2012

    Nicolai Glazer

    Pacific Sotheby's Int'l Realty

    (949) 644-6200

    91 Total Sales

    Nicolai Glazer
    Section Image
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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: P828293

California Regional Multiple Listing Service (CRMLS)

APN: 7274-018-024

California Los Angeles County Long Beach 90802 East Village

638 E 7th St, Long Beach, CA

Not Listed for Sale

MultiFamily

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