NOT LISTED FOR SALE

Estimated Value: $1,505,000 - $1,802,958

8 Beds
8 Baths
4,116 Sq Ft
$402/Sq Ft Est. Value

Sale Details

Date Sold: June 19, 2017

Last sale price $1,100,000 $267 Per Sq Ft

Est. 50% increase in value since last sale

Current estimated payment $10,484 / mo

9 Days on Market

Highlights

  • City Lights View
  • Dual Staircase
  • Private Yard
  • Long Beach Polytechnic High School Rated A
  • Contemporary Architecture
  • 3-minute walk to Craftsman Village Park

About This Home

As of June 2017

Income property centrally located, blocks from shopping, restaurants, transportation at the Promenade, Pine Street, and minutes from the beach and harbor. The features including many windows, very open, and spacious feeling. The front building #756 has 3 units. The back building #758 has 4 units.

Last Agent to Sell the Property

Lorna Lee

T.N.G. Real Estate Consultants License #01928703 Listed on: 06/01/2017

Last Buyer's Agent

Borann Duong

#1 Home Realty License #01006490

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1959

Lot Details

  • 6,326 Sq Ft Lot
  • Two or More Common Walls
  • Level Lot
  • Private Yard
  • Density is 11-15 Units/Acre

Parking

  • 4 Open Parking Spaces
  • 4 Car Garage

Home Design

  • Contemporary Architecture
  • Apartment
  • Entry on the 2nd floor
  • Asbestos Shingle Roof
  • Concrete Perimeter Foundation
  • Asphalt
  • Stucco

Interior Spaces

  • 4,116 Sq Ft Home
  • 2-Story Property
  • Dual Staircase
  • City Lights Views
  • Gas Range

Flooring

  • Carpet
  • Tile

Bedrooms and Bathrooms

  • 8 Bedrooms
  • 8 Bathrooms

Accessible Home Design

  • No Interior Steps
  • Accessible Parking

Outdoor Features

  • Balcony
  • Exterior Lighting

Utilities

  • Wall Furnace
  • Underground Utilities
  • Phone Available
  • Cable TV Available

Listing and Financial Details

  • Tenant pays for gas, telephone
  • Tax Lot 7
  • Tax Tract Number 7
  • Assessor Parcel Number 7266003013

Community Details

Overview

  • No Home Owners Association
  • 2 Buildings
  • 7 Units

Building Details

  • 7 Leased Units
  • 7 Separate Electric Meters
  • 7 Separate Gas Meters
  • 1 Separate Water Meter
  • Gardener Expense $1,020
  • Insurance Expense $2,500
  • Pest Control $400
  • Professional Management Expense $4,985
  • Water Sewer Expense $3,300
  • New Taxes Expense $8,514
  • Operating Expense $20,719
  • Gross Income $53,801
  • Net Operating Income $50,501

Property Details

Home Type

Multi-Family

Year Built

Built in 1959

Lot Details

6,326 Sq Ft Lot

Parking

4

Listing Details

  • CapRate: 4.52
  • Professional Management Expense: 4985.00
  • Property Attached: Yes
  • Road Frontage Type: City Street
  • Road Surface Type: Maintained, Paved
  • View: Yes
  • Water Sewer Expenses: 3300.00
  • Zoning: LBR2N
  • Architectural Style: Contemporary
  • Property Sub Type: Apartment
  • Property Type: Residential Income
  • Gardener Expense: 1020.00
  • Parcel Number: 7266003013
  • Year Built: 1959
  • Special Features: None

Interior Features

  • Interior Amenities: 2 Staircases, Balcony, Unfurnished
  • Stories: 2
  • Common Walls: 2+ Common Walls
  • Flooring: Carpet, Tile
  • Accessibility Features: No Interior Steps, Parking
  • Appliances: Yes
  • Entry Level: 2
  • Levels: Two
  • Price Per Square Foot: 267.25

Exterior Features

  • Foundation: Concrete Perimeter
  • View: City Lights
  • Pool Private: No
  • Roof: Asbestos Shingle
  • Construction Materials: Asphalt, Stucco

Garage/Parking

  • Garage Spaces: 4.00
  • Total Parking Spaces: 8.00
  • Uncovered Spaces: 4.00

Utilities

  • Utilities: Cable Available, Electricity Available, Electricity Connected, Natural Gas Available, Natural Gas Connected, Phone Available, Sewer Available, Sewer Connected, Underground Utilities, Water Available, Water Connected
  • Heating: Yes
  • Laundry: No
  • Appliances: Gas Range
  • Electric: Electricity - On Property, Standard
  • Heating Type: Wall Furnace
  • Pest Control Expense: 400.00
  • Sewer: Public Sewer
  • Water Source: Public

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Community Features: Sidewalks, Street Lights

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: 11-15 Units/Acre, Level with Street, Yard
  • Lot Size Sq Ft: 6326.00

Rental Info

  • Tenant Pays: Gas, Telephone

Multi Family

  • Garage Income: 3300.00
  • Gross Income: 53801.00
  • Gross Multiplier: 16.70
  • Gross Operating Income: 69083.00
  • Gross Scheduled Income: 71220.00
  • Gross Spendable Income: 53801.00
  • Insurance Expense: 2500.00
  • Net Operating Income: 50501.00
  • Number Of Rented Garages: 4
  • Number Of Separate Electric Meters: 7
  • Number Of Separate Gas Meters: 7
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 7
  • Number Of Units Total: 7
  • Operating Expense: 20719.00
  • Rent Control: No
  • Total Actual Rent: 5935.00
  • Total Expenses: 20719.00
  • Vacancy Allowance Rate: 3.00

Tax Info

  • New Taxes Expense: 8514.00
  • Tax Census Tract: 5764.01
  • Tax Lot: 7
  • Tax Tract Number: 7

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
Jun 1, 2017
Closed on
Jun 20, 2017
Sold by
Bought by
Seller's Agent
Lorna Lee
T.N.G. Real Estate Consultants
Buyer's Agent
Borann Duong
#1 Home Realty
List Price
$1,189,999
Sold Price
$1,100,000
Premium/Discount to List
-$89,999
-7.56%
Current Estimated Value
$1,653,979

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$553,979
Avg. Annual Appreciation
4.58%

Purchase Details

Listed on
Jun 1, 2017
Closed on
Jun 14, 2017
Sold by
Bought by
Seller's Agent
Lorna Lee
T.N.G. Real Estate Consultants
Buyer's Agent
Borann Duong
#1 Home Realty
List Price
$1,189,999
Sold Price
$1,100,000
Premium/Discount to List
-$89,999
-7.56%

Purchase Details

Listed on
Aug 5, 2013
Closed on
Sep 10, 2013
Sold by
Bought by
Seller's Agent
Richard Bell
Bell Realty Group
Buyer's Agent
Jennie Yang
GRANDMARK REALTY INC.
List Price
$649,000
Sold Price
$630,000
Premium/Discount to List
-$19,000
-2.93%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
16.16%

Purchase Details

Closed on
Apr 17, 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
$360,000
Interest Rate
0.056%
Mortgage Type
Commercial
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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Average Value
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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
-- None Available
$1,100,000 Old Republic Title Company
$630,000 Fidelity National Title Oran
$480,000 Old Republic Title Company
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
Previous Owner $420,000
Previous Owner $360,000
Previous Owner $64,000
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 Prior Sale
06/19/2017 06/19/17 Sold $1,100,000 -7.6% $267 / Sq Ft
06/10/2017 06/10/17 Pending -- -- --
06/01/2017 06/01/17 For Sale $1,189,999 +88.9% $289 / Sq Ft
09/30/2013 09/30/13 Sold $630,000 -2.9% $153 / Sq Ft View Prior Sale
08/20/2013 08/20/13 Pending -- -- --
04/09/2013 04/09/13 For Sale $649,000 -- $158 / 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 $17,658 $1,276,639 $893,648 $382,991
2024 $16,886 $1,251,608 $876,126 $375,482
2023 $16,594 $1,227,068 $858,948 $368,120
2022 $15,588 $1,203,008 $842,106 $360,902
2021 $15,262 $1,179,421 $825,595 $353,826
2019 $15,044 $1,145,760 $801,108 $344,652
2018 $14,603 $1,123,320 $785,400 $337,920
2016 $8,514 $652,386 $455,635 $196,751
2015 $8,186 $642,587 $448,791 $193,796
2014 $8,161 $630,000 $440,000 $190,000
Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PW17123155

California Regional Multiple Listing Service (CRMLS)

APN: 7266-003-013

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