Seller's Agent in 2020
Justin White
Justin White
(714) 231-2537
43 Total Sales
6410 N Paramount Blvd Long Beach, CA 90805
Ramona Park Neighborhood
1
Bed
2
Baths
4,487
Sq Ft
4,487
Sq Ft Lot
Highlights
- Property is near public transit
- Park
- Bike Trail
- Neighborhood Views
- Laundry Room
About This Home
As of September 2020Great opportunity to own a fully-stabilized 15 unit apartment building in Long Beach's Ramona Park neighborhood! Comprised of 14 studios and a 1 bedroom - 1 bathroom unit, this property has rents that are 25% below the competition, keeping it fully-leased during a downturn; perfect for a long-term investor to both immediately earn great cash flow and with opportunity to grow. Located in a growing part of Long Beach with many large employers nearby, the current owner has never experienced any issue in keeping the property leased-up. With 5 of the units currently occupied through Brilliant Corners, a nationally- recognized nonprofit providing supportive housing rental subsidies, the new owner will already have a partner in operating and strategically combating "landlord-unfriendly' legislation in California, as well as cash flow uncertainty brought on by Covid-19. Providing returns at over a 6 CAP without having rehab, the property is a rare opportunity for the savvy investor, especially at the lowest price unit on the market.
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1929
Lot Details
- 4,487 Sq Ft Lot
- Two or More Common Walls
- No Landscaping
Home Design
- Property Attached
- Flat Tile Roof
Interior Spaces
- 4,487 Sq Ft Home
- Neighborhood Views
- Laundry Room
Bedrooms and Bathrooms
- 1 Bedroom
- 2 Bathrooms
Outdoor Features
- Exterior Lighting
- Rain Gutters
Location
- Property is near public transit
Listing and Financial Details
- Legal Lot and Block 4 / E
- Tax Tract Number 6807
- Assessor Parcel Number 7120008004
Community Details
Overview
- 15 Units
- North Long Beach Subdivision
Amenities
- Laundry Facilities
Recreation
- Park
- Bike Trail
Building Details
- Rent Control
- 1 Separate Electric Meter
- 1 Separate Gas Meter
- 1 Separate Water Meter
- Electric Expense $4,750
- Insurance Expense $2,065
- Professional Management Expense $9,539
- Trash Expense $900
- Water Sewer Expense $4,025
- New Taxes Expense $24,000
- Operating Expense $61,504
- Gross Income $174,420
- Net Operating Income $112,915
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area
Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft | Prior Sale |
|---|---|---|---|---|---|
| 09/04/2020 09/04/20 | Sold | $2,000,000 | 0.0% | $446 / Sq Ft | |
| 07/21/2020 07/21/20 | For Sale | $2,000,000 | +26.6% | $446 / Sq Ft | |
| 07/25/2016 07/25/16 | Sold | $1,580,000 | 0.0% | $574 / Sq Ft | View Prior Sale |
| 07/20/2016 07/20/16 | Off Market | $1,580,000 | -- | -- | |
| 01/21/2016 01/21/16 | For Sale | $1,625,000 | -- | $590 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
Tax History Compared to Growth
Agents Affiliated with this Home
-
Justin White
-
Carlos Estrada
Buyer's Agent in 2020
Carlos Estrada
Liberty Investment Group
(562) 477-8983
49 Total Sales
-
K
Seller's Agent in 2016
Kenneth Colbert
RE/MAX
-
Charles McMillan
Buyer's Agent in 2016
Charles McMillan
Charles McMillan
(310) 508-3221
10 Total Sales
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: PW20144293
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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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