NOT LISTED FOR SALE

735 Martin Luther King jr Ave Long Beach, CA 90813

Saint Mary's Neighborhood

Estimated Value: $551,000 - $626,226

2 Beds
2 Baths
1,040 Sq Ft
$567/Sq Ft Est. Value

Last Sold June 23, 2016

Last sale price $320,000 $308 Per Sq Ft

Est. 84% increase in value since last sale

Current estimated payment $3,556/month

About This Home

As of June 2016

Sold prior to processing - I am proud to offer a well-maintained duplex apartment building located at 735 Martin Luther King in the city of Long Beach, California. The property is located 3 parcels north of 7th Street and one block west of Alamitos Avenue. The property offers a unit mix of two one-bedroom/one-bathroom units with private front yards. The property is individually metered for gas and electricity. 735 MLK is a rare opportunity to purchase an well-maintained apartment in a high-demand rental market at an entry level price. This building make for a great value-add opportunity and a perfect addition to any investor’s portfolio.

Last Agent to Sell the Property

Juan Huizar

Sage Real Estate Group, Inc. License #01417642 Listed on: 05/10/2016

Last Buyer's Agent

Matt Mahowald

Buckingham Investments, Inc License #02001732

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $4,985

Year Built

  • Built in 1932

Lot Details

  • 2,125 Sq Ft Lot
  • No Common Walls
  • Density is up to 1 Unit/Acre

Home Design

  • 1,040 Sq Ft Home

Bedrooms and Bathrooms

  • 2 Bedrooms
  • 2 Bathrooms

Outdoor Features

  • Exterior Lighting

Listing and Financial Details

  • Tax Lot 3
  • Tax Tract Number 5763
  • Assessor Parcel Number 7274020023

Community Details

Overview

  • 2 Units

Building Details

  • 2 Leased Units
  • 2 Separate Electric Meters
  • 2 Separate Gas Meters
  • 1 Separate Water Meter
  • Insurance Expense $600
  • Maintenance Expense $600
  • Water Sewer Expense $840
  • New Taxes Expense $4,000
  • Gross Income $1,763
  • Net Operating Income $14,809

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$4,985

Year Built

Built in 1932

Lot Details

0

Listing Details

  • CapRate: 4.60
  • Property Attached: No
  • Water Sewer Expenses: 840.00
  • Property Type: Residential Income
  • Parcel Number: 7274020023
  • Year Built: 1932
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Entry Location: Ground Level With Steps
  • Common Walls: No Common Walls
  • Price Per Square Foot: 307.69

Exterior Features

  • Pool Private: No

Utilities

  • Utilities: Sewer Available
  • Water Source: Public

Condo/Co-op/Association

  • Community Features: Street Lights

Lot Info

  • Land Lease: No
  • Lot Features: 0-1 Unit/Acre
  • Lot Size Sq Ft: 2125.00
  • Price Per Lot Square Foot: 150.59

Multi Family

  • Average1 Bed Area: 520
  • Average2 Bed Area: 520
  • Gross Income: 1763.00
  • Gross Multiplier: 15.00
  • Gross Scheduled Income: 21156.00
  • Insurance Expense: 600.00
  • Maintenance Expense: 600.00
  • Net Operating Income: 14809.00
  • Number Of Separate Electric Meters: 2
  • Number Of Separate Gas Meters: 2
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 2
  • Number Of Units Total: 2
  • Operating Expense: 6346.00
  • Rent Control: No
  • Total Actual Rent: 1763.00

Tax Info

  • New Taxes Expense: 4000.00
  • Tax Lot: 3
  • Tax Tract Number: 5763

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
May 10, 2016
Closed on
May 17, 2016
Sold by
Huizar Juan
Bought by
Renteria Elizabeth
Seller's Agent
Juan Huizar
Sage Real Estate Group, Inc.
Buyer's Agent
Matt Mahowald
Buckingham Investments, Inc
List Price
$320,000
Sold Price
$320,000
Current Estimated Value
$589,557

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$269,557
Avg. Annual Appreciation
6.89%
Original Mortgage
$314,204
Interest Rate
3.37%
Mortgage Type
FHA

Purchase Details

Closed on
Sep 10, 2012
Sold by
Chan Calvin
Bought by
Huizar Juan

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$190,000
Interest Rate
3.56%
Mortgage Type
New Conventional

Purchase Details

Closed on
Nov 6, 2008
Sold by
Taleangdee Wanasporn
Bought by
Chan Calvin

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$193,500
Interest Rate
5.9%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
Oct 14, 2008
Sold by
Saxon Mortgage Services Inc
Bought by
Chan Calvin

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$193,500
Interest Rate
5.9%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
Jun 5, 2008
Sold by
Li Ming
Bought by
Saxon Mortgage Services Inc

Purchase Details

Closed on
Apr 24, 2007
Sold by
Martin Luther King Jr Avenue Trust #735
Bought by
Li Ming

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$525,000
Interest Rate
6.18%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
Nov 20, 2006
Sold by
Almeida Arthur A and Almeida Irene M
Bought by
Martin Luther King Jr Avenue Trust #735 and Shore Bird Llc
Source: Public Records

Range of Values:

Collateral Analytics

Collateral Analytics Collateral Analytics AVMs (Automated Valuation Model) employ a number of statistical approaches combined with neighborhood-specific comparable selection guarantees the most up-to-date and precise valuations.

Not Available

Collateral Analytics does not have data for the current month. Please view the chart for historical values.

ICE

ICE Mortgage Technology ICE Mortgage Technology’s AVM (Automated Valuation Model) is a state-of-the-art online residential property valuation tool that provides a quick and accurate estimate of the value of almost any home in the U.S.

Not Available

ICE Mortgage Technology does not have data for the current month. Please view the chart for historical values.

First American

First American First American Data & Analytics’ next-generation AVM combines unrivaled data assets with a blended ensemble of valuation models to produce highly accurate, reliable valuations you can trust.

Not Available

First American does not have data for the current month. Please view the chart for historical values.

Quantarium

Quantarium Quantarium’s valuation service, repeatedly proven the industry’s most accurate and comprehensive, is supercharged with a self-learning and auto-tuning AI engine that continually becomes smarter and more accurate as it processes daily inputs from the industry’s leading RE data lake.

Not Available

Quantarium does not have data for the current month. Please view the chart for historical values.

Average Value
Not Available
List Price
Sold Price
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area

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
Renteria Elizabeth $320,000 Old Republic Title
Huizar Juan -- Old Republic Title
Huizar Juan -- Old Republic Title
Chan Calvin -- Old Republic Title
Huizar Juan $4,500 None Available
Chan Calvin -- Fidelity National
Chan Calvin $215,000 Fidelity National
Saxon Mortgage Services Inc $355,000 Accommodation
Li Ming $525,000 First American Title Co
Martin Luther King Jr Avenue Trust #735 $375,000 First American Title Co
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Renteria Elizabeth $525,000
Closed Renteria Elizabeth $314,204
Previous Owner Chan Calvin $190,000
Previous Owner Chan Calvin $193,500
Previous Owner Li Ming $525,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
06/23/2016 06/23/16 Sold $320,000 0.0% $308 / Sq Ft
05/10/2016 05/10/16 Pending -- -- --
05/10/2016 05/10/16 For Sale $320,000 -- $308 / 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 $4,985 $378,810 $260,433 $118,377
2024 $4,985 $371,383 $255,327 $116,056
2023 $4,899 $364,102 $250,321 $113,781
2022 $4,601 $356,963 $245,413 $111,550
2021 $4,506 $349,964 $240,601 $109,363
2019 $4,442 $339,585 $233,465 $106,120
2018 $4,316 $332,928 $228,888 $104,040
2016 $3,147 $248,526 $176,040 $72,486
2015 $3,024 $244,794 $173,396 $71,398
2014 $3,011 $240,000 $170,000 $70,000
Source: Public Records

Agents Affiliated with this Home

  • Juan Huizar

    Seller's Agent in 2016

    Juan Huizar

    Sage Real Estate Group, Inc.

    (562) 307-0838

    3 in this area

    103 Total Sales

    Juan Huizar
    Section Image
  • Matt Mahowald

    Buyer's Agent in 2016

    Matt Mahowald

    Buckingham Investments, Inc

    (310) 982-7055

    28 Total Sales

    Matt Mahowald
    Section Image
See All Agents

Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PW16099142

California Regional Multiple Listing Service (CRMLS)

APN: 7274-020-023

California Los Angeles County Long Beach 90813 Saint Mary's

735 Martin Luther King jr Ave, Long Beach, CA

This home is located at 735 Martin Luther King jr Ave, Long Beach, CA 90813 since 10 May 2016 and is currently estimated at $589,557, approximately $566 per square foot. This property was built in 1932. 735 Martin Luther King jr Ave is a home located in Los Angeles County with nearby schools including Stevenson Elementary School, Franklin Middle School, and Long Beach Polytechnic High School.

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.

California Regional Multiple Listing Service (CRMLS) 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

Nearby Homes