NOT LISTED FOR SALE

Estimated Value: $1,976,000 - $2,521,000

12 Beds
6 Baths
5,426 Sq Ft
$412/Sq Ft Est. Value

Last Sold March 09, 2018

Last sale price $1,510,000 $278 Per Sq Ft

Est. 48% increase in value since last sale

Current estimated payment $13,550/month

32 Days on Market

Highlights

  • 7,590 Sq Ft lot
  • Craftsman Architecture
  • Laundry Room
  • Long Beach Polytechnic High School Rated A
  • No HOA
  • Wrought Iron Fence

About This Home

As of March 2018

The Fifth Street Apartments are comprised of two buildings: a classic 3 bedroom craftsman single family home in the front, and a large, detached triplex in the rear. The Property offers new ownership an opportunity to acquire a beautifully renovated, turn-key asset with all new tenants and tasteful upgrades. The Property is located in the fast-developing East Village Arts District, which is just moments from downtown. The front home is stunningly distinctive, boasting an expansive 2,268 square feet, with a gated garage and laundry room.

The detached triplex has newly remodeled kitchens and bathrooms, and assigned off-street parking. Actual rents are reflected below, making this a solid investment with no deferred maintenance.

Last Agent to Sell the Property

Juan Huizar

Sage Real Estate Group, Inc. License #01417642 Listed on: 12/26/2017

Co-Listed By

Andrew Gombiner

Gombiner & Company

Last Buyer's Agent

Michelle Zabukovec

Redfin Corporation License #01851945

Redfin Corporation

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1923 | Remodeled

Lot Details

  • 7,590 Sq Ft Lot
  • Two or More Common Walls
  • Wrought Iron Fence
  • Wood Fence

Parking

  • 6 Open Parking Spaces
  • 2 Car Garage
  • Parking Available
  • Assigned Parking

Home Design

  • Craftsman Architecture
  • Spanish Architecture
  • Quadruplex

Interior Spaces

  • 5,426 Sq Ft Home
  • 2-Story Property

Bedrooms and Bathrooms

  • 12 Bedrooms
  • 6 Bathrooms

Laundry

  • Laundry Room
  • Laundry in Garage

Additional Features

  • Exterior Lighting
  • Urban Location
  • Wall Furnace

Listing and Financial Details

  • Tenant pays for electricity, gas
  • Legal Lot and Block 24 / 50
  • Tax Tract Number 5762
  • Assessor Parcel Number 7281003018

Community Details

Overview

  • No Home Owners Association
  • 2 Buildings
  • 4 Units

Building Details

  • 4 Leased Units
  • 4 Separate Electric Meters
  • 4 Separate Gas Meters
  • 1 Separate Water Meter
  • Insurance Expense $2,188
  • Maintenance Expense $4,653
  • Professional Management Expense $4,300
  • Water Sewer Expense $1,500
  • New Taxes Expense $18,625
  • Operating Expense $31,266
  • Gross Income $104,220
  • Net Operating Income $71,912

Property Details

Home Type

Multi-Family

Year Built

Built in 1923 | Remodeled

Lot Details

0

Parking

2

Listing Details

  • CapRate: 4.83
  • Professional Management Expense: 4300.00
  • Property Attached: Yes
  • Subdivision Name Other: Alamitos Beach (AB)
  • Water Sewer Expenses: 1500.00
  • Zoning: LBPD30
  • Architectural Style: Craftsman, Spanish
  • Property Condition: Updated/Remodeled
  • Property Sub Type: Quadruplex
  • Property Type: Residential Income
  • Parcel Number: 7281003018
  • Year Built: 1923
  • Special Features: None

Interior Features

  • Stories: 2
  • Common Walls: 2+ Common Walls
  • Levels: Two
  • Price Per Square Foot: 278.29

Exterior Features

  • Fence: Yes
  • Fencing: Wood, Wrought Iron
  • Pool Private: No

Garage/Parking

  • Garage Spaces: 2.00
  • Parking: Yes
  • Parking Features: Assigned
  • Total Parking Spaces: 8.00
  • Uncovered Spaces: 6.00

Utilities

  • Heating: Yes
  • Laundry: Yes
  • Heating Type: Wall Furnace
  • Laundry Features: In Garage
  • Sewer: Public Sewer
  • Water Source: Public

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Community Features: Street Lights, Urban

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: Lot 6500-9999
  • Lot Size Sq Ft: 7590.00

Rental Info

  • Tenant Pays: Electricity, Gas

Multi Family

  • Gross Income: 104220.00
  • Gross Multiplier: 14.30
  • Gross Scheduled Income: 104220.00
  • Insurance Expense: 2188.00
  • Maintenance Expense: 4653.00
  • Net Operating Income: 71912.00
  • Number Of Separate Electric Meters: 4
  • Number Of Separate Gas Meters: 4
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 4
  • Number Of Units Total: 4
  • Operating Expense: 31266.00
  • Rent Control: No
  • Total Actual Rent: 8685.00
  • Total Expenses: 31266.00
  • Vacancy Allowance Rate: 1.00

Tax Info

  • New Taxes Expense: 18625.00
  • Tax Block: 50
  • Tax Census Tract: 5762.00
  • Tax Lot: 24
  • Tax Tract Number: 5762

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Dec 26, 2017
Closed on
Feb 9, 2018
Sold by
Boyd Edward Earl
Bought by
Zabukovec John and Zabukovec Michelle
Seller's Agent
Juan Huizar
Sage Real Estate Group, Inc.
Buyer's Agent
Michelle Zabukovec
Redfin Corporation
List Price
$1,490,000
Sold Price
$1,510,000
Premium/Discount to List
$20,000
1.34%
Current Estimated Value
$2,236,814

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$726,814
Avg. Annual Appreciation
5.16%
Original Mortgage
$1,208,000
Outstanding Balance
$690,472
Interest Rate
4.15%
Mortgage Type
New Conventional
Estimated Equity
$1,546,342

Purchase Details

Closed on
Mar 25, 2016
Sold by
Guesno Lawrence E and Guesno Carol
Bought by
Boyd Edward Earl

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$759,750
Interest Rate
3.62%
Mortgage Type
New Conventional

Purchase Details

Closed on
Mar 8, 2016
Sold by
Guesno Lawrence Edmond and Guesno Carol Ann
Bought by
Guesno Lawrence E and Lawrence Carol

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$759,750
Interest Rate
3.62%
Mortgage Type
New Conventional

Purchase Details

Closed on
Feb 24, 2016
Sold by
Guesno Lawrence Edmond and Estate Of Susie Jane Guesno
Bought by
Guesno Randell Charles and The Albert Paul Guesno & Susie

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$759,750
Interest Rate
3.62%
Mortgage Type
New Conventional

Purchase Details

Closed on
Jan 24, 2013
Sold by
Guesno Lawrence E
Bought by
Guesno Lawrence E and Guesno Carol

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$759,750
Interest Rate
3.62%
Mortgage Type
New Conventional

Purchase Details

Closed on
Dec 21, 2012
Sold by
Guesno Thomas Walter and Guesno Cheryll Cecille
Bought by
Guesno Lawrence E and Guesno Carol Ann

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$759,750
Interest Rate
3.62%
Mortgage Type
New Conventional

Purchase Details

Closed on
Feb 17, 1999
Sold by
Guesno Lawrence E
Bought by
Guesno Lawrence E

Purchase Details

Closed on
Apr 11, 1997
Sold by
Guesno Susie J and The Albert P & Susie J Guesno
Bought by
Guesno Susie J and Guesno Lawrence E

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$51,000
Interest Rate
7.86%

Purchase Details

Closed on
Dec 20, 1993
Sold by
Guesno Albert P
Bought by
Guesno Susie Jane
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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Average Value
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Zabukovec John $1,510,000 Equity Title Company
Boyd Edward Earl $1,013,000 Old Republic Title
Guesno Thomas Walter -- Old Republic Title
Guesno Lawrence E -- Old Republic Title
Long Beach Trading Company Inc -- Accommodation
Guesno Randell Charles -- Old Republic Title
Guesno Lawrence E -- None Available
Guesno Lawrence E -- None Available
Guesno Lawrence E -- --
Guesno Susie J -- Fidelity Title
Guesno Susie Jane -- --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Zabukovec John $1,208,000
Previous Owner Guesno Thomas Walter $759,750
Previous Owner Guesno Lawrence E $759,750
Previous Owner Guesno Randell Charles $759,750
Previous Owner Guesno Lawrence E $759,750
Previous Owner Guesno Susie J $51,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
03/09/2018 03/09/18 Sold $1,510,000 +1.3% $278 / Sq Ft
12/26/2017 12/26/17 For Sale $1,490,000 -- $275 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

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 $21,962 $1,718,116 $1,206,096 $512,020
2024 $21,962 $1,684,429 $1,182,448 $501,981
2023 $21,598 $1,651,402 $1,159,263 $492,139
2022 $20,274 $1,619,023 $1,136,533 $482,490
2021 $19,866 $1,587,279 $1,114,249 $473,030
2020 $19,813 $1,571,164 $1,102,824 $468,340
2019 $19,583 $1,540,360 $1,081,200 $459,160
2018 $13,532 $1,054,095 $738,684 $315,411
2016 $1,770 $91,358 $49,267 $42,091
2015 $1,719 $89,986 $48,527 $41,459
2014 $1,735 $453,422 $310,063 $143,359
Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PW17279288

California Regional Multiple Listing Service (CRMLS)

APN: 7281-003-018