Seller's Agent in 2024
Rick Applebaum
Morgan Skenderian
(949) 251-8800
1 in this area
67 Total Sales
6508 Orange Ave Long Beach, CA 90805
Nehyam Neighborhood
2
Beds
1
Bath
5,354
Sq Ft
5,663
Sq Ft Lot
About This Home
As of September 2024Pleased to present 6508 Orange Avenue, a secure 8-unit apartment building in the heart of vibrant Long Beach, California. Built in 1960, the property consists exclusively of two-bedroom/one-bathroom units. For added comfort and convenience, the property features an on-site laundry facility as well as (4) off-street parking spaces for tenants to use. This apartment building offers residents easy access to an array of local amenities including shopping centers, restaurants, entertainment venues, and recreational parks. With convenient access to major transportation routes, commuting to other parts of the city is effortless.
Priced at $214,375/unit for this unit mix, this property is one of the more affordable deals on the market. Further, through modernization of the units and increases on current rent levels that are projected to be 53% below market, this property offers phenomenal value appreciation and exceptional future cash-on-cash returns.
Last Agent to Sell the Property
Morgan Skenderian Brokerage Email: rma@morganskenderian.com License #01273871 Listed on: 05/24/2024
Co-Listed By
Morgan Skenderian Brokerage Email: rma@morganskenderian.com License #01942627
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $22,397
Year Built
- Built in 1960
Lot Details
- 5,663 Sq Ft Lot
- 1 Common Wall
- Rectangular Lot
Home Design
- Apartment
- Entry on the 1st floor
Interior Spaces
- 5,354 Sq Ft Home
- 2-Story Property
Bedrooms and Bathrooms
- 2 Bedrooms
- 1 Bathroom
Laundry
- Laundry Room
- Leased Washer and Dryer
Parking
- 4 Open Parking Spaces
- 4 Parking Spaces
- Parking Available
- Assigned Parking
Outdoor Features
- Rain Gutters
Listing and Financial Details
- Tax Lot 157
- Tax Tract Number 7845
- Assessor Parcel Number 7114013044
- $1,495 per year additional tax assessments
Community Details
Overview
- 8 Units
- North Long Beach Subdivision
Amenities
- Laundry Facilities
Building Details
- 9 Separate Electric Meters
- 9 Separate Gas Meters
- 1 Separate Water Meter
- Electric Expense $2,685
- Fuel Expense $2,685
- Insurance Expense $3,748
- Maintenance Expense $6,799
- Other Expense $4,315
- Trash Expense $2,685
- Water Sewer Expense $2,685
- New Taxes Expense $22,834
- Operating Expense $48,436
- Gross Income $4,584
- Net Operating Income $83,468
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Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 09/26/2024 09/26/24 | Sold | $1,685,000 | -1.7% | $315 / Sq Ft |
| 06/18/2024 06/18/24 | Price Changed | $1,715,000 | -4.7% | $320 / Sq Ft |
| 05/24/2024 05/24/24 | For Sale | $1,800,000 | -- | $336 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
Tax History Compared to Growth
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 | $12,809 | $1,685,000 | $400,000 | $1,285,000 |
| 2024 | $12,809 | $908,742 | $255,579 | $653,163 |
| 2023 | $12,581 | $890,924 | $250,568 | $640,356 |
| 2022 | $11,833 | $873,455 | $245,655 | $627,800 |
| 2021 | $11,562 | $856,330 | $240,839 | $615,491 |
| 2020 | $11,531 | $847,550 | $238,370 | $609,180 |
| 2019 | $11,396 | $830,933 | $233,697 | $597,236 |
| 2018 | $11,049 | $814,641 | $229,115 | $585,526 |
| 2016 | $10,159 | $783,010 | $220,219 | $562,791 |
| 2015 | $9,767 | $771,250 | $216,912 | $554,338 |
| 2014 | $9,734 | $756,143 | $212,663 | $543,480 |
Source: Public Records
Agents Affiliated with this Home
-
Rick Applebaum
-
Paul Espinosa
Seller Co-Listing Agent in 2024
Paul Espinosa
Morgan Skenderian
(714) 206-2688
1 in this area
36 Total Sales
-
Sam Sidhu
S
Buyer Co-Listing Agent in 2024
Sam Sidhu
Rockview Inc.
(310) 517-9081
1 in this area
3 Total Sales
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: PW24105603
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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