Ramon Sanchez
Century 21 Allstars
(562) 684-6070
171 Total Sales
1 in Ramona Park
$607,000 Price
6410 N Paramount Blvd Long Beach, CA 90805
Ramona Park Neighborhood
1
Bed
2
Baths
4,487
Sq Ft
1929
Built
Highlights
- Property is near public transit
- Park
- Laundry Facilities
- Neighborhood Views
- Bike Trail
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.
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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
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
Ownership History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
Jul 21, 2020
Closed on
Aug 17, 2020
Sold by
Bought by
Seller's Agent
Justin White
Justin White
Buyer's Agent
Carlos Estrada
Liberty Investment Group
List Price
$2,000,000
Sold Price
$2,000,000
Purchase Details
Closed on
Apr 25, 2016
Sold by
Bought by
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,083,000
Interest Rate
3.56%
Mortgage Type
Commercial
Purchase Details
Closed on
Jul 28, 2014
Sold by
Bought by
Purchase Details
Closed on
Mar 7, 2011
Sold by
Bought by
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$721,650
Interest Rate
4.75%
Mortgage Type
Commercial
Purchase Details
Closed on
Mar 4, 2011
Sold by
Bought by
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$721,650
Interest Rate
4.75%
Mortgage Type
Commercial
Purchase Details
Closed on
Jan 8, 2009
Sold by
Bought by
Purchase Details
Closed on
Jun 27, 2008
Sold by
Bought by
Purchase Details
Closed on
Aug 21, 2007
Sold by
Bought by
Purchase Details
Closed on
Sep 8, 2004
Sold by
Bought by
Purchase Details
Closed on
Mar 29, 2002
Sold by
Bought by
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$238,000
Interest Rate
6.84%
Mortgage Type
Commercial
Purchase Details
Closed on
Dec 27, 2000
Sold by
Bought by
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$150,000
Interest Rate
6.89%
Mortgage Type
Commercial
Purchase Details
Closed on
Nov 1, 1999
Sold by
Bought by
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$90,000
Interest Rate
7.75%
Mortgage Type
Commercial
Home Values in the Area
Average Home Value in this Area
Agents Specializing in Ramona Park, CA
-
Ramon Sanchez
-
Lynsey Russell
Lynsey Russell
Keller Williams Pacific Estate
(424) 349-4623
122 Total Sales
1 in Ramona Park
$635,000 Price
-
Allison Van Wig
Allison Van Wig
Responds QuicklyKeller Williams Coastal Prop.
(562) 582-8861
237 Total Sales
2 in Ramona Park
$738K - $860K Price Range
-
Sharon Smith
Sharon Smith
Berkshire Hathaway Homeservices California Realty
(760) 548-3262
64 Total Sales
2 in Ramona Park
$750,000 Price Range
-
CIERA SIMS-BOTSFORD
CIERA SIMS-BOTSFORD
ANOMALY REAL ESTATE
(951) 749-9183
209 Total Sales
2 in Ramona Park
$848,000 Price Range
-
Linh Tran
Linh Tran
Responds QuicklyMeridox Real Estate
(562) 203-0471
45 Total Sales
1 in Ramona Park
$910,000 Price
Purchase History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Buyer | Sale Price | Title Company |
|---|---|---|---|
| -- | Lawyers Title | ||
| $2,000,000 | Lawyers Title | ||
| $1,580,000 | Provident Title Company | ||
| $507,500 | Old Republic Title Company | ||
| -- | Fidelity National Title Co | ||
| $640,000 | Fidelity National Title Co | ||
| -- | Fidelity National Title Co | ||
| -- | None Available | ||
| -- | None Available | ||
| -- | None Available | ||
| -- | -- | ||
| $340,000 | Fidelity Title | ||
| $206,500 | North American Title | ||
| $120,000 | Commonwealth Land Title |
Source: Public Records
Mortgage History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Status | Borrower | Loan Amount |
|---|---|---|---|
| Open | $1,530,000 | ||
| Closed | $500,000 | ||
| Closed | $1,500,000 | ||
| Previous Owner | $1,083,000 | ||
| Previous Owner | $800,000 | ||
| Previous Owner | $721,650 | ||
| Previous Owner | $330,000 | ||
| Previous Owner | $238,000 | ||
| Previous Owner | $150,000 | ||
| Previous Owner | $90,000 |
Source: Public Records
Property History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| 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
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| 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 | $29,786 | $2,164,863 | $324,729 | $1,840,134 |
| 2024 | $28,513 | $2,122,415 | $318,362 | $1,804,053 |
| 2023 | $28,001 | $2,080,800 | $312,120 | $1,768,680 |
| 2022 | $26,283 | $2,040,000 | $306,000 | $1,734,000 |
| 2021 | $25,745 | $2,000,000 | $300,000 | $1,700,000 |
| 2020 | $22,048 | $1,678,508 | $143,263 | $1,535,245 |
| 2019 | $21,783 | $1,645,632 | $140,454 | $1,505,178 |
| 2018 | $21,267 | $1,613,400 | $137,700 | $1,475,700 |
| 2016 | $16,623 | $1,289,367 | $203,050 | $1,086,317 |
| 2015 | $15,975 | $1,270,000 | $200,000 | $1,070,000 |
| 2014 | $9,362 | $667,832 | $249,783 | $418,049 |
Source: Public Records
Agents Affiliated with this Home
-
Justin White
Seller's Agent in 2020
Justin White
Justin White
(714) 231-2537
38 Total Sales
-
Carlos Estrada
Buyer's Agent in 2020
Carlos Estrada
Liberty Investment Group
(562) 477-8983
44 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
8 Total Sales
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: PW20144293
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.
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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