NOT LISTED FOR SALE
6 Beds
5 Baths
4,670 Sq Ft
6,726 Sq Ft Lot Lot

Sale Details

Date Sold: September 2, 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

6,726 Sq Ft Lot

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
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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

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 $10,757 $790,207 $552,847 $237,360
2024 $10,757 $774,713 $542,007 $232,706
2023 $10,573 $759,524 $531,380 $228,144
2022 $9,945 $744,632 $520,961 $223,671
2021 $9,723 $730,033 $510,747 $219,286
2020 $9,697 $722,548 $505,510 $217,038
2019 $9,585 $708,382 $495,599 $212,783
2018 $9,252 $694,493 $485,882 $208,611
2016 $8,498 $667,526 $467,015 $200,511
2015 $8,168 $657,500 $460,000 $197,500
2014 $6,971 $542,663 $179,861 $362,802
Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: SB14102608

California Regional Multiple Listing Service (CRMLS)
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