Leslie Stonick
Compass
(424) 381-0410
72 Total Sales
2 in Saint Mary's
$730,000 Price Range
707 E 7th St Long Beach, CA 90813
Saint Mary's Neighborhood
11
Beds
11
Baths
6,544
Sq Ft
7,501
Sq Ft Lot
Highlights
- 0.17 Acre Lot
- Corner Lot
- Laundry Facilities
- Long Beach Polytechnic High School Rated A
About This Home
As of September 2019First time on the market in over 17 years and Seller is extremely motivated. Property is currently operating as 9 units, but shows 10 legal units on record. Huge value-add opportunity with below market rents and a Pro Forma Cap Rate of 6.44% based on conservative market rents. The property is comprised of EIGHT (Studios) and ONE (11+ 3 House). The house was built as two separate single family houses and legally converted into a duplex in 1999. 4 of the 8 Studios have been remodeled and the house is in good condition. All leases are month to month and there is significant upside for a new investor by remodeling unit interiors and raising rents to market. The house and two studios are currently vacant, allowing a Buyer to begin raising rents immediately.
Last Agent to Sell the Property
eXp Realty of Greater L.A License #01946829 Listed on: 03/18/2019
Last Buyer's Agent
Peter Sun
Realty One Group Diamond License #01960205
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Property Details
Home Type
- Multi-Family
Year Built
- Built in 1926
Lot Details
- 7,501 Sq Ft Lot
- No Common Walls
- Corner Lot
Home Design
- 6,544 Sq Ft Home
Bedrooms and Bathrooms
- 11 Bedrooms
- 11 Bathrooms
Outdoor Features
- Exterior Lighting
- Rain Gutters
Location
- Urban Location
Listing and Financial Details
- Legal Lot and Block 3 / 26
- Tax Tract Number 11
- Assessor Parcel Number 7274020013
Community Details
Overview
- 3 Buildings
- 9 Units
Amenities
- Laundry Facilities
Building Details
- 7 Leased Units
- 11 Separate Electric Meters
- 11 Separate Gas Meters
- 1 Separate Water Meter
- Insurance Expense $2,618
- Maintenance Expense $5,400
- Other Expense $2,250
- Pest Control $995
- Professional Management Expense $7,703
- Trash Expense $2,032
- Water Sewer Expense $7,421
- New Taxes Expense $25,471
- Operating Expense $52,297
- Gross Income $158,820
- Net Operating Income $101,758
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
Mar 18, 2019
Closed on
Aug 21, 2019
Sold by
Bought by
Seller's Agent
Andrew McAllister
eXp Realty of Greater L.A
Buyer's Agent
Peter Sun
Realty One Group Diamond
List Price
$2,125,000
Sold Price
$1,900,000
Premium/Discount to List
-$225,000
-10.59%
Purchase Details
Closed on
Jul 30, 2002
Sold by
Bought by
Purchase Details
Closed on
Mar 4, 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
$37,050
Interest Rate
6.94%
Mortgage Type
Construction
Purchase Details
Closed on
Apr 27, 1998
Sold by
Bought by
Purchase Details
Closed on
Nov 9, 1993
Sold by
Bought by
Home Values in the Area
Average Home Value in this Area
Agents Specializing in Saint Mary's, CA
-
Leslie Stonick
-
Ramon Sanchez
Ramon Sanchez
Century 21 Allstars
(562) 684-6070
170 Total Sales
2 in Saint Mary's
$515,000 Price Range
-
Cyrus Mohseni
Cyrus Mohseni
Responds QuicklyThe Keystone Team
(657) 341-0810
178 Total Sales
1 in Saint Mary's
$535,000 Price
-
Roddy de la Garza
Roddy de la Garza
Responds QuicklyEpique Realty
(323) 615-1579
119 Total Sales
1 in Saint Mary's
$580,000 Price
-
Kelly Conley
Kelly Conley
eXp Realty of California Inc
(562) 362-4213
15 Total Sales
2 in Saint Mary's
$620K - $661K Price Range
-
Edward Ong
Edward Ong
Responds QuicklyCorpen Real Estate Group
(669) 200-0582
84 Total Sales
1 in Saint Mary's
$775,000 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 |
|---|---|---|---|
| $1,900,000 | Fidelity National Title Co | ||
| $396,100 | Stewart 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 | $500,000 | ||
| Previous Owner | $450,000 | ||
| Previous Owner | $37,050 |
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 |
|---|---|---|---|---|
| 09/11/2019 09/11/19 | Sold | $1,900,000 | -2.6% | $290 / Sq Ft |
| 08/30/2019 08/30/19 | Pending | -- | -- | -- |
| 06/10/2019 06/10/19 | Price Changed | $1,950,000 | -8.2% | $298 / Sq Ft |
| 03/18/2019 03/18/19 | For Sale | $2,125,000 | -- | $325 / 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 |
|---|---|---|---|---|
| 2026 | $3,007 | $93,764 | $25,001 | $68,763 |
| 2025 | $2,918 | $91,926 | $24,511 | $67,415 |
| 2024 | $2,813 | $90,125 | $24,031 | $66,094 |
| 2023 | $2,813 | $88,359 | $23,560 | $64,799 |
| 2022 | $2,602 | $86,628 | $23,099 | $63,529 |
| 2021 | $2,422 | $84,931 | $22,647 | $62,284 |
| 2020 | $2,349 | $84,061 | $22,415 | $61,646 |
| 2019 | $2,257 | $84,061 | $22,415 | $61,646 |
| 2018 | $2,196 | $80,799 | $21,546 | $59,253 |
| 2017 | $2,163 | $79,216 | $21,124 | $58,092 |
| 2016 | $1,840 | $77,663 | $20,710 | $56,953 |
| 2015 | $1,839 | $76,497 | $20,399 | $56,098 |
| 2014 | $1,797 | $75,000 | $20,000 | $55,000 |
Source: Public Records
Agents Affiliated with this Home
-
Andrew McAllister
A
Seller's Agent in 2019
Andrew McAllister
eXp Realty of Greater L.A
(562) 423-8134
14 Total Sales
-
P
Buyer's Agent in 2019
Peter Sun
Realty One Group Diamond
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: RS19059595
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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