Dave Smith
REMAX Professionals
(424) 373-7838
75 Total Sales
1 in Bixby Knolls
$1,200,000 Price
651 E 46th St Long Beach, CA 90807
Bixby Knolls Neighborhood
8
Beds
6
Baths
10,062
Sq Ft
0.26
Acre Lot
Highlights
- Laundry Facilities
- Radiant Heating System
- 5-minute walk to Scherer Park
- Hughes Middle School Rated A-
About This Home
As of December 2024651 E. 46th Street is a 12-unit value add investment asset located in the Bixby Knolls neighborhood of Long Beach. The property offers a new investor 34% total rental upside potential for a 7.8% market cap rate. Situated on a 11,154-square-foot lot, the building features all spacious units: (9) 1BD/1BA; (1) 2BD/1BA; (1) 2BD/2BA; and (1) 3BD/2BA. Additionally, the 100% electric building includes copper plumbing throughout. Onsite laundry provides a convenient facility for tenants and an added income stream for the owner. Ten (10) garages and two (2) surface spaces offer the potential to provide additional income as well as ADU opportunities. Located within steps to Aldi and other amenities, the property is also in close proximity to Atlantic Avenue's restaurants, coffee shops and amenities. In recent years the area has become a dynamic locale for exciting new businesses. The Bixby Knolls location offers convenient proximity to both the 710 and 405 freeways, providing quick and easy access to all areas of Southern California.
Last Agent to Sell the Property
Keller Williams Realty Downey Brokerage Phone: 310-463-2916 License #01456379 Listed on: 10/09/2024
Co-Listed By
Keller Williams Realty Downey Brokerage Phone: 310-463-2916 License #01376219
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Property Details
Home Type
- Multi-Family
Year Built
- Built in 1973
Lot Details
- 11,157 Sq Ft Lot
- Two or More Common Walls
- Density is 11-15 Units/Acre
Parking
- 2 Open Parking Spaces
- 10 Car Garage
Home Design
- Apartment
- Entry on the 1st floor
Interior Spaces
- 10,062 Sq Ft Home
- 2-Story Property
Bedrooms and Bathrooms
- 8 Bedrooms
- 6 Bathrooms
Utilities
- Radiant Heating System
Listing and Financial Details
- Tax Lot 2
- Tax Tract Number 13870
- Assessor Parcel Number 7135005026
- $2,447 per year additional tax assessments
Community Details
Overview
- 12 Units
- Bixby Knolls Subdivision
Amenities
- Laundry Facilities
Building Details
- Rent Control
- 12 Separate Electric Meters
- 12 Separate Gas Meters
- Electric Expense $2,141
- Fuel Expense $2,140
- Gardener Expense $1,720
- Insurance Expense $12,000
- Maintenance Expense $8,400
- Other Expense $3,600
- Pest Control $900
- Professional Management Expense $11,304
- Trash Expense $2,141
- Water Sewer Expense $2,141
- New Taxes Expense $38,022
- Operating Expense $85,367
- Gross Income $226,084
- Net Operating Income $140,717
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
Closed on
Oct 15, 2024
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
$1,635,000
Interest Rate
6.79%
Mortgage Type
New Conventional
Purchase Details
Closed on
Mar 10, 2004
Sold by
Bought by
Home Values in the Area
Average Home Value in this Area
Agents Specializing in Bixby Knolls, CA
-
Dave Smith
-
Mercedes Van Pelt
Mercedes Van Pelt
Compass
(323) 310-3789
58 Total Sales
2 in Bixby Knolls
$680,000 Price Range
-
Bobejo Kelley
Bobejo Kelley
Keller Williams Premier Prop.
(424) 292-6160
65 Total Sales
2 in Bixby Knolls
$535,000 Price Range
-
Heidi Bailey
Heidi Bailey
Keller Williams Coastal Prop.
(949) 356-7766
36 Total Sales
4 in Bixby Knolls
$940K - $1.5M Price Range
-
Anthony Todora
Anthony Todora
Estate Properties
(424) 403-2107
28 Total Sales
1 in Bixby Knolls
$1,080,000 Price
-
Candice Carpenter
Candice Carpenter
Coastal Elite Properties
(424) 284-7552
19 Total Sales
1 in Bixby Knolls
$840,000 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 |
|---|---|---|---|
| $2,770,000 | Ticor Title Company | ||
| -- | -- |
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 |
|---|---|---|---|
| Previous Owner | $1,635,000 |
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 |
|---|---|---|---|---|
| 12/20/2024 12/20/24 | Sold | $2,770,000 | -4.3% | $275 / Sq Ft |
| 10/28/2024 10/28/24 | Pending | -- | -- | -- |
| 10/09/2024 10/09/24 | For Sale | $2,895,000 | -- | $288 / 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 | $37,866 | $2,770,000 | $1,900,000 | $870,000 |
| 2024 | $13,051 | $849,819 | $339,924 | $509,895 |
| 2023 | $12,813 | $833,157 | $333,259 | $499,898 |
| 2022 | $12,084 | $816,822 | $326,725 | $490,097 |
| 2021 | $11,768 | $800,807 | $320,319 | $480,488 |
| 2019 | $11,600 | $777,057 | $310,819 | $466,238 |
| 2018 | $11,150 | $761,822 | $304,725 | $457,097 |
| 2016 | $10,225 | $732,242 | $292,893 | $439,349 |
| 2015 | $9,851 | $721,244 | $288,494 | $432,750 |
| 2014 | $9,846 | $707,117 | $282,843 | $424,274 |
Source: Public Records
Agents Affiliated with this Home
-
Robert Stepp
Seller's Agent in 2024
Robert Stepp
Keller Williams Realty Downey
(310) 463-2916
1 in this area
80 Total Sales
-
Todd Hawke
Seller Co-Listing Agent in 2024
Todd Hawke
Keller Williams Realty Downey
(310) 774-3746
1 in this area
11 Total Sales
-
Avinash Narang
Buyer's Agent in 2024
Avinash Narang
BRC Advisors BH
(818) 288-0697
1 in this area
47 Total Sales
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: PW24210020
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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