NOT LISTED FOR SALE
18 Beds
18 Baths
6,938 Sq Ft
7,338 Sq Ft Lot

Sale Details

Date Sold: August 16, 2024

Last sale price $2,349,000 $339 Per Sq Ft

23 Days on Market

Highlights

  • 14 Car Attached Garage
  • Long Beach Polytechnic High School Rated A
  • 4-minute walk to Craftsman Village Park

About This Home

As of August 2024

PRICED TO SELL. 9X GRM and a 6.5% CAP on actual rents with upside to a 7.1% CAP. 10 units in Alamitos Beach in Long Beach subject to AB 1482 rent control - maximum annual increase of 5% + CPI. Built in 1987, the property is professionally managed and well maintained. There are 14 onsite parking spaces - 1 for each unit plus 4 for rent. The 2nd floor units feature tall, vaulted ceilings and some have partial ocean views. The Property has an onsite laundry room. All units were updated from 2017-2019. The subpanels are 50 AMPS and the main panel is 200 AMPS. Plumbing is copper - Buyer to verify. Priced at only $340/SF. EMAIL LISTING AGENT FOR MORE INFO INCLUDING A RENT ROLL AND ACTUAL EXPENSES.

Last Agent to Sell the Property

Jon Swire

The Agency License #01336277 Listed on: 05/13/2024

The Agency

Last Buyer's Agent

Cameron Samimi

Lyon Stahl Investment Real Estate, Inc. License #02035763

Lyon Stahl Investment Real Estate, Inc.
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Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1987

Lot Details

  • 7,338

Parking

  • 14 Car Attached Garage

Interior Spaces

  • 6,938 Sq Ft Home
  • 2-Story Property

Bedrooms and Bathrooms

  • 18 Bedrooms
  • 18 Bathrooms

Additional Features

  • 7,338 Sq Ft Lot
  • Heating System Mounted To A Wall or Window

Community Details

  • 10 Units

Listing and Financial Details

  • Assessor Parcel Number 7266-004-043

Property Details

Home Type

Multi-Family

Year Built

Built in 1987

Lot Details

7,338 Sq Ft Lot

Listing Details

  • Property Type: Residential Income
  • Levels: Multi/Split
  • Street Number Display: Yes
  • Living Area: 6938
  • Lot Acreage: 0.1684
  • Stories: 2
  • Year Built: 1987
  • State Abbrv: CA
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Bedrooms: 18
  • Total Bathrooms: 18.00
  • Price Per S Q F T: 338.57

Exterior Features

  • Other Structures: None

Garage/Parking

  • Covered Parking: 14
  • Parking Garage: Attached
  • Total Parking: 14

Utilities

  • Heating: Wall

Lot Info

  • Assessed Improvement Percent: 30.00
  • Assessed Improvement Value: 619111
  • Assessed Land Percent: 70
  • Assessed Land Value: 1444596
  • Total Assessed Value: 2063707
  • Assessor Parcel Number: 7266-004-043
  • Lot Size Area: 7338

Multi Family

  • Unit Type: 2106, 2107
  • Gross Rent Multiplier: 9.00
  • Number Of Units: 10
  • Type Of Units: Income

Ownership History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Name Owned For Owner Type

Purchase Details

Listed on
May 13, 2024
Closed on
Aug 9, 2024
Sold by
751 Cerritos Apts Llc
Bought by
Seller's Agent
Jon Swire
The Agency
Buyer's Agent
Cameron Samimi
Lyon Stahl Investment Real Estate, Inc.
List Price
$2,349,000
Sold Price
$2,349,000
Views
19

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$235,000
Interest Rate
6.95%

Purchase Details

Closed on
Apr 6, 2017
Sold by
Heredia Saul
Bought by
751 Cerritos Apts Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,456,000
Interest Rate
4.1%
Mortgage Type
Commercial

Purchase Details

Closed on
Feb 17, 2010
Sold by
Heredia Saul A
Bought by
Heredia Saul and Tijerino Claudia

Purchase Details

Closed on
Jun 7, 2004
Sold by
Vo Francis Phuc
Bought by
Heredia Saul A

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$749,999
Interest Rate
5.75%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
Mar 5, 1999
Sold by
Parker James W and Parker Shona
Bought by
Vo Frances Phuc and Vo Lynn

Purchase Details

Closed on
Sep 24, 1998
Sold by
Parker James A and Parker Shona
Bought by
Parker James Wesley and Parker Shona Ann

Purchase Details

Closed on
Sep 9, 1994
Sold by
Foster Helen L
Bought by
Foster Helen L and Foster Trust

Purchase Details

Closed on
Aug 20, 1994
Sold by
Parker James W
Bought by
Parker James W and Parker Shona

Purchase Details

Closed on
May 10, 1994
Sold by
Great Western Bank
Bought by
Parker James W and Parker Shona
Source: Public Records

Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

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Purchase History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Buyer Sale Price Title Company
$2,349,000 Fidelity National Title
751 Cerritos Apts Llc $1,850,000 Wfg Title Company Of Ca
Heredia Saul -- None Available
Heredia Saul A $1,100,000 Fidelity National Title
Vo Frances Phuc -- --
Parker James Wesley -- --
Foster Helen L -- --
Parker James W -- Fidelity National Title Ins
Parker James W $280,000 Continental Lawyers Title Co
Source: Public Records

Mortgage History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Status Borrower Loan Amount
Open $2,120,000
Closed 751 Cerritos Management Llc $235,000
Closed 751 Cerritos Management Llc $1,880,000
Previous Owner 751 Cerritos Apts Llc $2,175,000
Previous Owner 751 Cerritos Apts Llc $1,750,000
Previous Owner 751 Cerritos Apts Llc $1,456,000
Previous Owner Heredia Saul $700,000
Previous Owner Heredia Saul A $749,999
Source: Public Records

Property History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Event Price List to Sale Price per Sq Ft
08/16/2024 08/16/24 Sold $2,349,000 0.0% $339 / Sq Ft
06/05/2024 06/05/24 Pending -- -- --
05/13/2024 05/13/24 For Sale $2,349,000 -- $339 / Sq Ft
Source: The MLS

Tax History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

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
2026 $31,887 $2,395,980 $1,632,000 $763,980
2025 $31,887 $2,349,000 $1,600,000 $749,000
2024 $28,048 $2,104,980 $1,473,487 $631,493
2023 $27,566 $2,063,707 $1,444,596 $619,111
2022 $25,885 $2,023,243 $1,416,271 $606,972
2021 $25,346 $1,983,572 $1,388,501 $595,071
2019 $24,982 $1,924,740 $1,347,318 $577,422
2018 $24,309 $1,887,000 $1,320,900 $566,100
2016 $14,866 $1,165,562 $656,933 $508,629
2015 $14,286 $1,148,055 $647,066 $500,989
2014 $14,225 $1,125,567 $634,391 $491,176
Source: Public Records

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Map

Source: The MLS

MLS Number: 24-391473

The MLS
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