NOT LISTED FOR SALE

Estimated Value: $1,123,000 - $1,325,347

4 Beds
4 Baths
3,328 Sq Ft
$364/Sq Ft Est. Value

Sale Details

Date Sold: October 18, 2016

Last sale price $757,500 $228 Per Sq Ft

Est. 60% increase in value since last sale

Current estimated payment $7,595 / mo

19 Days on Market

Highlights

  • Dual Staircase
  • Property is near public transit
  • Spanish Architecture
  • Long Beach Polytechnic High School Rated A
  • Wood Flooring
  • 2-minute walk to Craftsman Village Park

About This Home

As of October 2016

big...Big...BIG units!!! Each one bedroom unit is 832 square feet with dining and laundry rooms, plus multiple walk-in closets for more living space and storage than you see in most 2 bedroom units in this part of town. Because they are so roomy, tenants flock to the occasional vacancy and stay year after year as is the case in two of the units. The current tenant mix is one person per unit keeping the maintenance and building density low. The property has received many upgrades in the way of remodeled kitchens and bathrooms along with a full building copper re-pipe and main drain line. The back yard is a spacious and private common area that just adds one more desirable thing to the list of things that will keep your tenants happy. There are four single door one car garages that are currently retained by the owner that could be offered to the tenants or rented out for additional income. This property is proudly located in the Craftsman Village Historical Dist. offering many financial perks to landlords and property owners, please consult the city of Long Beach website for more details. If you're tired of being disappointed by all those run down buildings you've been seeing, then come see what a good investment looks like in a great rental neighborhood.

Last Agent to Sell the Property

Jack Tanner

Beach Cities Properties, Inc. License #01383525 Listed on: 07/22/2016

Last Buyer's Agent

Matt Mahowald

Buckingham Investments, Inc License #02001732

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1920 | Remodeled

Lot Details

  • 5,774 Sq Ft Lot
  • Two or More Common Walls
  • Wood Fence
  • Front and Back Yard Sprinklers
  • Lawn
  • Back and Front Yard

Parking

  • 4 Car Garage
  • Parking Available
  • Single Garage Door
  • Off-Street Parking

Home Design

  • Spanish Architecture
  • Property Attached
  • Turnkey
  • Flat Roof Shape
  • Raised Foundation
  • Rolled or Hot Mop Roof
  • Clay Roof
  • Wood Siding
  • Copper Plumbing
  • Stucco

Interior Spaces

  • 3,328 Sq Ft Home
  • 2-Story Property
  • Dual Staircase
  • Ceiling Fan
  • Recessed Lighting
  • Wood Frame Window
  • Living Room

Kitchen

  • Gas Range
  • Granite Countertops

Flooring

  • Wood
  • Carpet
  • Tile

Bedrooms and Bathrooms

  • 4 Bedrooms
  • Walk-In Closet
  • 4 Bathrooms

Laundry

  • Laundry in unit
  • Washer and Gas Dryer Hookup

Additional Features

  • Shed
  • Property is near public transit
  • Wall Furnace

Listing and Financial Details

  • Tenant pays for electricity, gas, trash collection
  • Tax Lot 2
  • Tax Tract Number 1328
  • Assessor Parcel Number 7266002002

Community Details

Overview

  • No Home Owners Association
  • 4 Units

Amenities

  • Laundry Facilities

Building Details

  • 4 Leased Units
  • 4 Separate Electric Meters
  • 4 Separate Gas Meters
  • 1 Separate Water Meter
  • Gardener Expense $1,200
  • Insurance Expense $1,600
  • Trash Expense $300
  • Water Sewer Expense $1,200
  • New Taxes Expense $9,375
  • Gross Income $51,900
  • Net Operating Income $51,900

Property Details

Home Type

Multi-Family

Year Built

Built in 1920 | Remodeled

Lot Details

5,774 Sq Ft Lot

Parking

4

Listing Details

  • CapRate: 7.00
  • Property Attached: Yes
  • Subdivision Name Other: Alamitos Beach (AB)
  • Water Sewer Expenses: 1200.00
  • Architectural Style: Spanish
  • Property Condition: Updated/Remodeled, Turnkey
  • Property Type: Residential Income
  • Gardener Expense: 1200.00
  • Parcel Number: 7266002002
  • Year Built: 1920
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Fireplace: No
  • Interior Amenities: 2 Staircases, Ceiling Fan(s), Copper Plumbing Full, Granite Counters, Recessed Lighting
  • Stories: 2
  • Common Walls: 2+ Common Walls
  • Flooring: Carpet, Tile, Wood
  • Appliances: Yes
  • Levels: Two
  • Price Per Square Foot: 227.61
  • Room Type: Living Room, Walk-In Closet
  • Window Features: Wood Frames

Exterior Features

  • Foundation: Raised
  • Other Structures: Shed(s)
  • Fencing: Wood
  • Pool Private: No
  • Roof: Clay, Flat, Rolled/Hot Mop
  • Spa: No
  • Construction Materials: Stucco, Wood Siding

Garage/Parking

  • Garage Spaces: 4.00
  • Parking: Yes
  • Parking Features: Off Street, Garage - Single Door
  • Total Parking Spaces: 4.00

Utilities

  • Utilities: Sewer Available
  • Sprinklers: Yes
  • Heating: Yes
  • Laundry: Yes
  • Appliances: Gas Range
  • Heating Type: Wall Furnace
  • Laundry Features: Common Area, Gas Dryer Hookup, Inside, Washer Hookup
  • Trash Expense: 300.00
  • Water Source: Public

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Community Features: Sidewalks

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: Back Yard, Front Yard, Lawn, Sprinklers In Front, Sprinklers In Rear, Sprinklers Timer, Near Public Transit
  • Lot Size Sq Ft: 5774.00
  • Price Per Lot Square Foot: 129.89

Rental Info

  • Tenant Pays: Electricity, Gas, Trash Collection

Multi Family

  • Average1 Bed Area: 832
  • Gross Income: 51900.00
  • Gross Multiplier: 13.30
  • Gross Scheduled Income: 56200.00
  • Insurance Expense: 1600.00
  • Net Operating Income: 51900.00
  • Number Of Separate Electric Meters: 4
  • Number Of Separate Gas Meters: 4
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 4
  • Number Of Units Total: 4
  • Number With Carpet: 3
  • Number With Range: 4
  • Operating Expense: 4300.00
  • Rent Control: No
  • Total Actual Rent: 4685.00

Tax Info

  • New Taxes Expense: 9375.00
  • Tax Lot: 2
  • Tax Tract Number: 1328

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

Closed on
Jun 2, 2023
Sold by
Bought by
Current Estimated Value
$1,212,837

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$685,000
Interest Rate
0.0643%
Mortgage Type
New Conventional

Purchase Details

Listed on
Jul 22, 2016
Closed on
Aug 26, 2016
Sold by
Bought by
Seller's Agent
Jack Tanner
Beach Cities Properties, Inc.
Buyer's Agent
Matt Mahowald
Buckingham Investments, Inc
List Price
$750,000
Sold Price
$757,500
Premium/Discount to List
$7,500
1%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
4.95%
Original Mortgage
$355,000
Interest Rate
0.0346%
Mortgage Type
Future Advance Clause Open End Mortgage

Purchase Details

Closed on
Aug 27, 2015
Sold by
Bought by

Purchase Details

Closed on
Aug 21, 2015
Sold by
Bought by

Purchase Details

Closed on
Aug 24, 2010
Sold by
Bought by

Purchase Details

Closed on
Oct 17, 2006
Sold by
Bought by

Purchase Details

Closed on
Aug 15, 2006
Sold by
Bought by

Purchase Details

Closed on
Nov 14, 2003
Sold by
Bought by

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$230,000
Interest Rate
0.06%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
Sep 29, 2000
Sold by
Bought by

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$163,651
Interest Rate
0.0781%
Mortgage Type
FHA
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

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
-- Stewart Title Company
$757,500 Chicago Title Company
-- None Available
-- Orange Coast Title Company
-- None Available
-- None Available
-- None Available
-- None Available
-- New Century Title Company
$165,000 Landsafe Title
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 $685,000
Previous Owner $355,000
Previous Owner $32,000
Previous Owner $360,000
Previous Owner $230,000
Previous Owner $163,651
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
10/18/2016 10/18/16 Sold $757,500 +1.0% $228 / Sq Ft
08/10/2016 08/10/16 Pending -- -- --
07/22/2016 07/22/16 For Sale $750,000 -- $225 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

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
2025 $12,071 $879,138 $615,107 $264,031
2024 $11,550 $861,901 $603,047 $258,854
2023 $11,353 $845,002 $591,223 $253,779
2022 $10,665 $828,434 $579,631 $248,803
2021 $10,441 $812,191 $568,266 $243,925
2019 $10,292 $788,463 $551,412 $237,051
2018 $10,006 $773,010 $540,600 $232,410
2016 $2,026 $249,578 $124,789 $124,789
2015 $1,951 $245,830 $122,915 $122,915
2014 $2,686 $241,016 $120,508 $120,508
Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PW16160950

California Regional Multiple Listing Service (CRMLS)

APN: 7266-002-002

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