NOT LISTED FOR SALE

744 Walnut Ave Long Beach, CA 90813

Hellman Neighborhood
6 Beds
5 Baths
4,670 Sq Ft
6,726 Sq Ft Lot

Last Sold September 02, 2014

Last sale price $657,500 $141 Per Sq Ft

16 Days on Market

Highlights

  • No HOA
  • Balcony
  • Laundry Room
  • Long Beach Polytechnic High School Rated A
  • Walk-In Closet
  • Landscaped

About This Home

As of September 2014

Property description:

Two buildings with a combined 4,670 s.f. nicely positioned on a 6,726 s.f. lot.

The rear building is a 2 Bed Room House with a brand new/remodeled bathroom and two car garage.

The front building is a 4 unit apartment building comprised of 4 extra large 1 bedroom units that are always in high rental demand as each unit has its own separate laundry room, walk in closets, and private balcony/and or rear patio space.

Area description:

Located on a residential block in the Hellman neighborhood of downtown Long Beach. Above N Alamitos Beach, Just North of 7th Street, East of Alamitos Avenue and West of Cherry Avenue.

Last Agent to Sell the Property

John Mociak

Avenue Realty Group License #01708711 Listed on: 07/16/2014

Co-Listed By

Martin Ensbury

Lyon Stahl Investment Real Estate, Inc. License #00815392

Last Buyer's Agent

Cindy Ludwig

First Team Real Estate License #01020764

First Team Real Estate

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1930

Lot Details

  • 6,726 Sq Ft Lot
  • Two or More Common Walls
  • Landscaped

Parking

  • 2 Car Garage

Home Design

  • 4,670 Sq Ft Home
  • Property Attached

Bedrooms and Bathrooms

  • 6 Bedrooms
  • Walk-In Closet
  • 5 Bathrooms

Additional Features

  • Laundry Room
  • Balcony
  • Urban Location
  • Septic Type Unknown

Listing and Financial Details

  • Tenant pays for electricity, gas
  • Tax Lot 21
  • Tax Tract Number 5764
  • Assessor Parcel Number 7267028024

Community Details

Overview

  • No Home Owners Association
  • 2 Buildings
  • 5 Units

Building Details

  • 5 Leased Units
  • 5 Separate Electric Meters
  • 5 Separate Gas Meters
  • 1 Separate Water Meter
  • Electric Expense $640
  • Gardener Expense $900
  • Insurance Expense $1,200
  • Maintenance Expense $2,000
  • Other Expense $1,250
  • Pest Control $325
  • Trash Expense $1,200
  • Water Sewer Expense $2,400
  • New Taxes Expense $8,125
  • Gross Income $4,585
  • Net Operating Income $34,229

Property Details

Home Type

Multi-Family

Year Built

Built in 1930

Lot Details

0

Parking

2

Listing Details

  • Assessments: Yes
  • CapRate: 5.27
  • Property Attached: Yes
  • Subdivision Name Other: THE WALNUT AVE AND SEVENTH ST TRACT LOT
  • Water Sewer Expenses: 2400.00
  • Zoning: LBR2N
  • Property Type: Residential Income
  • Gardener Expense: 900.00
  • Parcel Number: 7267028024
  • Year Built: 1930
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Interior Amenities: Balcony
  • Common Walls: 2+ Common Walls
  • Levels: Two
  • Price Per Square Foot: 140.79
  • Room Type: Walk-In Closet

Exterior Features

  • Pool Private: No

Garage/Parking

  • Garage Spaces: 2.00
  • Total Parking Spaces: 2.00

Utilities

  • Laundry: Yes
  • Laundry Features: Individual Room
  • Pest Control Expense: 325.00
  • Sewer: Unknown
  • Trash Expense: 1200.00
  • Water Source: Public

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Community Features: Urban

Lot Info

  • Lot Features: Landscaped
  • Lot Size Sq Ft: 6726.00
  • Lot Size Acres: 0.1540

Rental Info

  • Tenant Pays: Electricity, Gas

Multi Family

  • Average1 Bed Area: 950
  • Average2 Bed Area: 870
  • Electric Expense: 640.00
  • Gross Income: 4585.00
  • Gross Multiplier: 11.80
  • Gross Scheduled Income: 55020.00
  • Insurance Expense: 1200.00
  • Lot Size Area: 6726.0000 Square Feet
  • Maintenance Expense: 2000.00
  • Net Operating Income: 34229.00
  • Number Of Separate Electric Meters: 5
  • Number Of Separate Gas Meters: 5
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 5
  • Number Of Units Total: 5
  • Operating Expense: 18040.00
  • Operating Expense Percent: 33.00
  • Other Expense: 1250.00
  • Rent Control: No
  • Total Actual Rent: 55020.00
  • Vacancy Allowance Rate: 5.00

Tax Info

  • New Taxes Expense: 8125.00
  • Tax Area: 5-500
  • Tax Lot: 21
  • Tax Tract Number: 5764

Range of Values:

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Value Increase
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Percent Increase
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Adjusted for Inflation
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Sold Price
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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 List to Sale Price per Sq Ft
09/02/2014 09/02/14 Sold $657,500 +1.2% $141 / Sq Ft
05/28/2014 05/28/14 Pending -- -- --
05/12/2014 05/12/14 For Sale $650,000 -- $139 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • J

    Seller's Agent in 2014

    John Mociak

    Avenue Realty Group

    Section Image
  • Martin Ensbury

    Seller Co-Listing Agent in 2014

    Martin Ensbury

    Lyon Stahl Investment Real Estate, Inc.

    (310) 376-4600

    31 Total Sales

    Martin Ensbury
    Section Image

  • C

    Buyer's Agent in 2014

    Cindy Ludwig

    First Team Real Estate

    (310) 849-8515

    11 Total Sales

    Cindy Ludwig
    Section Image
See All Agents

Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: SB14102608

California Regional Multiple Listing Service (CRMLS)
California Los Angeles County Long Beach 90813 Hellman

744 Walnut Ave, Long Beach, CA

Not Listed for Sale

MultiFamily

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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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