NOT LISTED FOR SALE

645 Atlantic Ave Long Beach, CA 90802

East Village Neighborhood
6 Beds
6 Baths
8,958 Sq Ft
7,521 Sq Ft Lot

Last Sold February 15, 2013

Last sale price $1,504,000 $168 Per Sq Ft

125 Days on Market

Highlights

  • 0.17 Acre Lot
  • Tile Flooring
  • No Heating
  • Long Beach Polytechnic High School Rated A
  • Wood Siding

About This Home

As of February 2013

Great Location with positive cash flow property and high Cap Rate. Sharp and well maintained 15 Units in very strong rental area of Long Beach. This property proves itself to be a solid investment. Most units have newer tile floor in living rooms, kitchens, hallways and bathrooms. Most units have newer paint. Each unit has its own Water Heater keeps expenses low . Individually metered for utilities. Tenants enjoy a Laundry facility on premises & the gated entry with intercom system. Easy to manage. Many tenants are long term and all Month-To-Month. Drive by only.

Last Agent to Sell the Property

Maher Haroun

First Team Real Estate License #01335923 Listed on: 07/31/2012

First Team Real Estate

Last Buyer's Agent

Christopher Kensinger

Nationwide Real Estate Execs License #01317776

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1964

Lot Details

  • 7,521 Sq Ft Lot
  • Property fronts an alley

Parking

  • 7 Parking Spaces

Home Design

  • 8,958 Sq Ft Home
  • Wood Siding
  • Stucco

Flooring

  • Carpet
  • Laminate
  • Tile

Bedrooms and Bathrooms

  • 6 Bedrooms
  • 6 Bathrooms

Utilities

  • No Heating

Listing and Financial Details

  • Legal Lot and Block 7 / 45
  • Assessor Parcel Number 7274018007

Community Details

Overview

  • 15 Units

Building Details

  • 16 Separate Electric Meters
  • 1 Separate Water Meter
  • Electric Expense $600
  • Gardener Expense $420
  • Insurance Expense $3,363
  • Maintenance Expense $8,205
  • Pest Control $540
  • Water Sewer Expense $7,800
  • New Taxes Expense $19,938
  • Gross Income $13,675
  • Net Operating Income $114,079

Property Details

Home Type

Multi-Family

Year Built

Built in 1964

Lot Details

0

Listing Details

  • Assessments: No
  • CapRate: 7.15
  • Road Frontage Type: Alley
  • View: No
  • Water Sewer Expenses: 7800.00
  • Property Type: Residential Income
  • Gardener Expense: 420.00
  • Parcel Number: 7274018007
  • Year Built: 1964
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Fireplace: No
  • Flooring: Laminate, Carpet, Tile
  • Appliances: No
  • Levels: Two
  • Price Per Square Foot: 167.89

Exterior Features

  • Pool Private: No
  • Spa: No
  • Construction Materials: Stucco, Wood Siding

Garage/Parking

  • Parking: No
  • Total Parking Spaces: 7.00

Utilities

  • Utilities: Sewer Connected
  • Heating: No
  • Laundry: No
  • Pest Control Expense: 540.00
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No

Lot Info

  • Lot Size Sq Ft: 7521.00
  • Lot Size Acres: 0.1730

Multi Family

  • Electric Expense: 600.00
  • Gross Income: 13675.00
  • Gross Multiplier: 9.72
  • Gross Scheduled Income: 164100.00
  • Insurance Expense: 3363.00
  • Maintenance Expense: 8205.00
  • Maintenance Percent: 5.00
  • Net Operating Income: 114079.00
  • Number Of Separate Electric Meters: 16
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 15
  • Operating Expense: 44816.00
  • Vacancy Allowance: 8205
  • Vacancy Allowance Rate: 5.00

Tax Info

  • New Taxes Expense: 19938.00
  • Tax Area: 11933
  • Tax Block: 45
  • Tax Lot: 7

Range of Values:

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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

Property History

Date Event Price Change Sq Ft Price
02/15/2013 02/15/13 Sold $1,504,000 -11.3% $168 / Sq Ft
12/03/2012 12/03/12 Pending -- -- --
07/31/2012 07/31/12 For Sale $1,695,000 -- $189 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Maher Haroun

    Seller's Agent in 2013

    Maher Haroun

    First Team Real Estate

    (714) 964-3311

    29 Total Sales

    Maher Haroun
    Section Image

  • C

    Buyer's Agent in 2013

    Christopher Kensinger

    Nationwide Real Estate Execs

See All Agents

Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: P830391

California Regional Multiple Listing Service (CRMLS)
California Los Angeles County Long Beach 90802 East Village

645 Atlantic Ave, Long Beach, CA

This home is located at 645 Atlantic Ave, Long Beach, CA 90802 since 31 July 2012. This property was built in 1964. 645 Atlantic Ave is a home located in Los Angeles County with nearby schools including Stevenson Elementary School, Franklin Middle School, and Long Beach Polytechnic High School.

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California Regional Multiple Listing Service (CRMLS) 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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