M
Seller's Agent in 2019
Mike Trossen
Equity Brokers
(562) 434-6731
31 Total Sales
746 Termino Ave Long Beach, CA 90804
Recreation Park Neighborhood
12
Beds
8
Baths
5,219
Sq Ft
5,654
Sq Ft Lot
Highlights
- Laundry Room
- Tile Flooring
- Wall Furnace
- Fremont Elementary School Rated A
- Ceiling Fan
About This Home
As of December 2019Great investment opportunity for a pride of ownership building on the edge of popular Belmont Heights that offers residential living within walking distance to the ocean, beach, restaurants and shopping. This 5 unit building offers a desirable mix of: (2) large 3 bedroom units, (one with 1.5 baths and the other 3 bedroom with 1 3/4 baths), and (2) 2 bedroom, 1 bath units and (1) 2 bedroom, 1.5 bath unit. The larger 3 bedroom units and 2 bedroom, 1.5 bath unit are upstairs, all offering good size bedrooms and closets. The building offers large units with a total sq. ft. of approx. 5,200 and the bonus of 7 one car garages (all walled and separate)- 3 garages in front and 4 garages in rear alley. Community laundry room with bonus owner storage. Exterior of building was painted a little over one year ago. Upgraded copper plumbing lines in most of the building. This is an excellent opportunity to acquire a quality portfolio asset in a great location with true rental upside and stable return. Tenants are all month to month. The coastal area of Long Beach currently enjoys high occupancy rate, offering a unique opportunity for investment in one of the more affordable and desirable coastal cities in Southern California.
Co-Listed By
Ken Trossen
Equity Brokers License #00802751
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1965
Lot Details
- 5,654 Sq Ft Lot
- No Common Walls
- Density is 2-5 Units/Acre
Parking
- 7 Car Garage
- Parking Available
- Single Garage Door
Home Design
- Partial Copper Plumbing
Interior Spaces
- 5,219 Sq Ft Home
- 2-Story Property
- Ceiling Fan
- Gas Cooktop
Flooring
- Carpet
- Tile
- Vinyl
Bedrooms and Bathrooms
- 12 Bedrooms
- 8 Bathrooms
Laundry
- Laundry Room
- Leased Washer and Dryer
Utilities
- Wall Furnace
Listing and Financial Details
- Tenant pays for electricity
- Tax Lot 6
- Tax Tract Number 3457
- Assessor Parcel Number 7254021006
Community Details
Building Details
- 5 Leased Units
- 6 Separate Electric Meters
- 6 Separate Gas Meters
- 1 Separate Water Meter
- Electric Expense $500
- Fuel Expense $1,700
- Gardener Expense $360
- Insurance Expense $3,000
- Maintenance Expense $3,000
- Other Expense $6,000
- Professional Management Expense $7,000
- Trash Expense $600
- Water Sewer Expense $1,700
- New Taxes Expense $22,500
- Operating Expense $46,000
- Gross Income $133,200
- Net Operating Income $86,580
Additional Features
- 5 Units
- Laundry Facilities
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
Average Home Value in this Area
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 12/19/2019 12/19/19 | Sold | $1,667,500 | -4.7% | $320 / Sq Ft |
| 11/26/2019 11/26/19 | Price Changed | $1,750,000 | +4.9% | $335 / Sq Ft |
| 10/11/2019 10/11/19 | Pending | -- | -- | -- |
| 07/13/2019 07/13/19 | Off Market | $1,667,500 | -- | -- |
| 05/10/2019 05/10/19 | Price Changed | $1,800,000 | -5.3% | $345 / Sq Ft |
| 02/08/2019 02/08/19 | For Sale | $1,900,000 | -- | $364 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
Tax History Compared to Growth
Agents Affiliated with this Home
-
Mike Trossen
-
K
Seller Co-Listing Agent in 2019
Ken Trossen
Equity Brokers
-
Kristina Moore
Buyer's Agent in 2019
Kristina Moore
The Moore Group
(714) 809-7608
2 in this area
27 Total Sales
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: PW19030133
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