M
Seller's Agent in 2019
Mike Trossen
Equity Brokers
(562) 434-6731
29 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
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Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 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
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 | $23,322 | $1,823,652 | $1,093,645 | $730,007 |
| 2024 | $23,322 | $1,787,895 | $1,072,201 | $715,694 |
| 2023 | $22,931 | $1,752,839 | $1,051,178 | $701,661 |
| 2022 | $21,523 | $1,718,470 | $1,030,567 | $687,903 |
| 2021 | $21,089 | $1,684,775 | $1,010,360 | $674,415 |
| 2019 | $11,434 | $861,731 | $527,763 | $333,968 |
| 2018 | $11,089 | $844,835 | $517,415 | $327,420 |
| 2016 | $10,183 | $812,030 | $497,324 | $314,706 |
| 2015 | $9,783 | $799,833 | $489,854 | $309,979 |
| 2014 | $9,730 | $784,166 | $480,259 | $303,907 |
Source: Public Records
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
26 Total Sales
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: PW19030133
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.
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
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