NOT LISTED FOR SALE
16 Beds
11 Baths
12,120 Sq Ft
0.3 Acre Lot

Sale Details

Date Sold: October 28, 2019

Last sale price $3,800,000 $314 Per Sq Ft

33 Days on Market

Highlights

  • 0.3 Acre Lot
  • Property is near park
  • 1-minute walk to Ramona Park

About This Home

As of October 2019

Park Plaza is an 18-unit multifamily investment property located at 6546 Indiana Ave. Long Beach, CA, centrally located and just a few blocks from both the City of Lakewood and City of Bellflower. The building is comprised of (1) 3bd/2bth unit, (5) 2bd/1bth units, and (12) 1bd/1bth units. The building also features 18 single car garages, all new vinyl windows in every unit, small courtyard, and onsite laundry facilities. This building is priced to sell at $221,944 per unit and offers immediate rental upside for a new buyer. The building is located on a primarily residential street, and across from Romona Park and the newer Romana Multi-Family Senior development built in 2014.

Last Agent to Sell the Property

Spencer Pabst

Pabst, Kinney & Associates License #01849377 Listed on: 08/01/2019

Last Buyer's Agent

Kurt Wood

Belmont Brokerage & Mgmt. INC. License #00452182

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Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1961

Lot Details

  • 13,012 Sq Ft Lot
  • Two or More Common Walls

Parking

  • 18 Car Garage

Home Design

  • 12,120 Sq Ft Home
  • Property Attached

Bedrooms and Bathrooms

  • 16 Bedrooms
  • 11 Bathrooms

Additional Features

  • Laundry in unit
  • Property is near park

Listing and Financial Details

  • Tax Lot 4
  • Tax Tract Number 24928
  • Assessor Parcel Number 7120018033

Community Details

Building Details

  • 18 Leased Units
  • 19 Separate Electric Meters
  • 19 Separate Gas Meters
  • 1 Separate Water Meter
  • Gross Income $21,600
  • Net Operating Income $259,200

Additional Features

  • 18 Units
  • Laundry Facilities

Property Details

Home Type

Multi-Family

Year Built

Built in 1961

Lot Details

0.3 Acres

Parking

18

Listing Details

  • Property Attached: Yes
  • Subdivision Name Other: North Long Beach (NLB)
  • Zoning: LBR4R
  • Property Type: Residential Income
  • Parcel Number: 7120018033
  • Year Built: 1961
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Common Walls: 2+ Common Walls
  • Levels: Two
  • Price Per Square Foot: 313.53

Exterior Features

  • Pool Private: No

Garage/Parking

  • Garage Spaces: 18.00
  • Total Parking Spaces: 18.00

Utilities

  • Laundry: Yes
  • Laundry Features: Common Area, Inside
  • Sewer: Public Sewer
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No
  • Community Features: Sidewalks

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: Park Nearby
  • Lot Size Sq Ft: 13012.00
  • Lot Size Acres: 0.2987

Multi Family

  • Gross Income: 21600.00
  • Gross Scheduled Income: 259200.00
  • Lot Size Area: 13012.0000 Square Feet
  • Net Operating Income: 259200.00
  • Number Of Separate Electric Meters: 19
  • Number Of Separate Gas Meters: 19
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 18
  • Number Of Units Total: 18
  • Rent Control: No
  • Total Actual Rent: 21275.00

Tax Info

  • Tax Census Tract: 5702.04
  • Tax Lot: 4
  • Tax Tract Number: 24928

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
Dec 22, 2021
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
$2,595,000
Outstanding Balance
$2,342,072
Interest Rate
3.11%
Mortgage Type
Commercial

Purchase Details

Closed on
Aug 26, 2020
Sold by
Bought by

Purchase Details

Listed on
Aug 1, 2019
Closed on
Sep 30, 2019
Sold by
Bought by
Seller's Agent
Spencer Pabst
Pabst, Kinney & Associates
Buyer's Agent
Kurt Wood
Belmont Brokerage & Mgmt. INC.
List Price
$3,998,000
Sold Price
$3,800,000
Premium/Discount to List
-$198,000
-4.95%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,975,000
Interest Rate
3.5%

Purchase Details

Closed on
Oct 4, 2018
Sold by
Bought by

Purchase Details

Listed on
Sep 2, 2014
Closed on
Oct 6, 2014
Sold by
Bought by
Seller's Agent
Doug Rodermund
Morgan Skenderian
Buyer's Agent
Jay Skenderian
Morgan Skenderian
List Price
$2,595,000
Sold Price
$2,595,000

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,520,000
Interest Rate
4.16%
Mortgage Type
Negative Amortization

Purchase Details

Closed on
Oct 11, 2011
Sold by
Bought by

Purchase Details

Closed on
Dec 29, 2006
Sold by
Bought by

Purchase Details

Closed on
Sep 15, 2005
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
$1,820,000
Interest Rate
6%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
Dec 10, 2004
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
$1,100,000
Interest Rate
5.67%
Mortgage Type
Commercial

Purchase Details

Closed on
Oct 22, 2003
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
$993,750
Interest Rate
5.98%
Mortgage Type
Commercial
Source: Public Records

Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

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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
-- Old Republic Title
-- Accommodation
$3,800,000 Fidelity National Title Co
-- None Available
$2,580,000 Chicago Title
-- Orange Coast Title Company O
-- None Available
$2,275,000 Multiple
$2,100,000 Commonwealth
$1,325,000 United 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
Open $2,595,000
Previous Owner $1,975,000
Previous Owner $1,520,000
Previous Owner $1,820,000
Previous Owner $1,100,000
Previous Owner $993,750
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
10/28/2019 10/28/19 Sold $3,800,000 -5.0% $314 / Sq Ft
09/03/2019 09/03/19 Pending -- -- --
08/01/2019 08/01/19 For Sale $3,998,000 +54.1% $330 / Sq Ft
11/24/2014 11/24/14 Sold $2,595,000 0.0% $214 / Sq Ft View Prior Sale
10/17/2014 10/17/14 Pending -- -- --
09/02/2014 09/02/14 For Sale $2,595,000 -- $214 / 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 $56,745 $4,155,851 $710,868 $3,444,983
2024 $54,217 $4,074,365 $696,930 $3,377,435
2023 $53,281 $3,994,476 $683,265 $3,311,211
2022 $49,802 $3,916,154 $669,868 $3,246,286
2021 $48,775 $3,839,368 $656,734 $3,182,634
2020 $48,649 $3,804,100 $650,000 $3,154,100
2019 $36,829 $2,799,926 $538,694 $2,261,232
2018 $35,865 $2,745,107 $528,132 $2,216,975
2016 $32,988 $2,634,573 $507,625 $2,126,948
2015 $31,686 $2,595,000 $500,000 $2,095,000
2014 -- $1,900,000 $712,500 $1,187,500
Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PW19183417

California Regional Multiple Listing Service (CRMLS)
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