$850,000
SOLD APR 17, 2015
9 Beds
7 Baths
4,304 Sq Ft
5,020 Sq Ft Lot

Recently Sold

$197 Per Sq Ft

7 Days on Market

Highlights

  • Wood Flooring
  • No HOA
  • Wood Siding
  • Long Beach Polytechnic High School Rated A
  • Laundry Room
  • Wall Furnace

About This Home

As of June 2019

Great income producing 7 unit building. Prime location close to downtown and just 8 blocks from Alamitos beach. Property consists of one large 3 bedroom 1 bath unit and 6-1 bedroom 1 bath units. All units have been recently upgraded from the studs up. New electrical including the panel, new plumbing, drywall, fixtures, etc All units are individually metered for gas and electricity. Separate laundry room provides added income. One garage with additional off street parking space. Original redwood siding makes it a historical era building from 1922 . No rent control.

Last Agent to Sell the Property

Steve Day

Day & Associates License #01200586 Listed on: 02/05/2015

Last Buyer's Agent

Travis Lebouf

Platinum Properties R.E. License #01938822

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $7,713

Year Built

  • Built in 1922

Lot Details

  • 5,020 Sq Ft Lot
  • 1 Common Wall
  • Density is 6-10 Units/Acre

Parking

  • 1 Car Garage

Home Design

  • Property Attached
  • Wood Siding

Interior Spaces

  • 4,304 Sq Ft Home
  • Wood Flooring
  • Laundry Room

Bedrooms and Bathrooms

  • 9 Bedrooms
  • 7 Bathrooms

Utilities

  • Wall Furnace

Listing and Financial Details

  • Tax Lot 1
  • Tax Tract Number 5763
  • Assessor Parcel Number 7274020005

Community Details

Overview

  • No Home Owners Association
  • 7 Units

Building Details

  • 7 Leased Units
  • 8 Separate Electric Meters
  • 7 Separate Gas Meters
  • 1 Separate Water Meter
  • Electric Expense $365
  • Insurance Expense $1,392
  • Maintenance Expense $7,686
  • Professional Management Expense $3,370
  • Water Sewer Expense $1,783
  • New Taxes Expense $10,115
  • Gross Income $8,119
  • Net Operating Income $55,008

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$7,713

Year Built

Built in 1922

Lot Details

0

Parking

1

Listing Details

  • CapRate: 4.90
  • Price Per Unit: 121
  • Professional Management Expense: 3370.00
  • Property Attached: Yes
  • Subdivision Name Other: Alamitos Beach (AB)
  • View: No
  • Water Sewer Expenses: 1783.00
  • Property Type: Residential Income
  • Parcel Number: 7274020005
  • Year Built: 1922
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Fireplace: No
  • Entry Location: Ground Level With Steps
  • Common Walls: 1 Common Wall
  • Flooring: Wood
  • Price Per Square Foot: 197.49

Exterior Features

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

Garage/Parking

  • Garage Spaces: 1.00
  • Total Parking Spaces: 2.00

Utilities

  • Utilities: Sewer Connected
  • Heating: Yes
  • Laundry: Yes
  • Heating Type: Wall Furnace
  • Laundry Features: Individual Room
  • Water Source: Public

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Community Features: Curbs

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: 6-10 Units/Acre
  • Lot Size Sq Ft: 5020.00
  • Lot Size Acres: 0.1150

Multi Family

  • Average1 Bed Area: 595
  • Average3 Bed Area: 700
  • Electric Expense: 365.00
  • Gross Income: 8119.00
  • Gross Multiplier: 11.69
  • Gross Scheduled Income: 72720.00
  • Gross Spendable Income: 55008.00
  • Insurance Expense: 1392.00
  • Laundry Equipment Own Lease: Own
  • Lot Size Area: 5020.0000 Square Feet
  • Maintenance Expense: 7686.00
  • Net Operating Income: 55008.00
  • Number Of Separate Electric Meters: 8
  • Number Of Separate Gas Meters: 7
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 7
  • Number Of Units Total: 7
  • Operating Expense: 15526.00
  • Rent Control: No
  • Total Actual Rent: 6060.00
  • Vacancy Allowance: 2186
  • Vacancy Allowance Rate: 3.00

Tax Info

  • New Taxes Expense: 10115.00
  • Tax Lot: 1
  • Tax Tract Number: 5763
  • Tax Annual Amount: 7713.00
  • Tax Year: 2014

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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
06/20/2019 06/20/19 Sold $1,525,000 +1.7% $354 / Sq Ft
04/09/2019 04/09/19 For Sale $1,500,000 +76.5% $349 / Sq Ft
04/17/2015 04/17/15 Sold $850,000 0.0% $197 / Sq Ft
02/12/2015 02/12/15 Pending -- -- --
02/05/2015 02/05/15 For Sale $850,000 -- $197 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: SB15025276

California Regional Multiple Listing Service (CRMLS)