NOT LISTED FOR SALE
3 Beds
2 Baths
7,122 Sq Ft
6,405 Sq Ft Lot

Sale Details

Date Sold: July 11, 2018

Last sale price $2,900,000 $407 Per Sq Ft

3 Days on Market

Highlights

  • Laundry Facilities
  • Wilson High School Rated A
  • Level Lot

About This Home

As of July 2018

766 Loma is located at the edge of Belmont Heights. All electric building Totally rehabed.Opportunity to acquire a beautifully renovated 9 unit building. New gourmet kitchens, stylish baths, windows, window coverings, flooring, and decorative lighting.
Edge of Belmont Heights. Short drive to Downtown, 2nd street, Cal State Long Beach and the Beach. 7 large 2 bed., 1 bath and 2 large 1 bed., 1 bath. 5 garages. Laundry room. Separate electric meters for each unit.Built in 1963 all electric building.

Last Agent to Sell the Property

Mohsen Shahbani

Coldwell Banker Realty License #01068932 Listed on: 07/01/2018

Coldwell Banker Realty

Last Buyer's Agent

Kevin King

Marcus & Millichap License #01158184

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Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1963

Lot Details

  • 6,405 Sq Ft Lot
  • No Common Walls
  • Level Lot

Parking

  • 5 Car Garage

Home Design

  • 7,122 Sq Ft Home

Bedrooms and Bathrooms

  • 3 Bedrooms
  • 2 Bathrooms

Additional Features

  • Leased Washer and Dryer
  • Urban Location
  • Septic Type Unknown

Listing and Financial Details

  • Tax Lot 7
  • Tax Tract Number 1
  • Assessor Parcel Number 7254023010

Community Details

Building Details

  • 3 Leased Units
  • 10 Separate Electric Meters
  • 1 Separate Gas Meter
  • 1 Separate Water Meter
  • New Taxes Expense $37,500
  • Operating Expense $64,404
  • Gross Income $135,060
  • Net Operating Income $143,836

Additional Features

  • 9 Units
  • Laundry Facilities

Property Details

Home Type

Multi-Family

Year Built

Built in 1963

Lot Details

6,405 Sq Ft Lot

Parking

5

Listing Details

  • CapRate: 13.97
  • Property Attached: No
  • Subdivision Name Other: Circle (CA)
  • Zoning: LBR3S
  • Property Type: Residential Income
  • Parcel Number: 7254023010
  • Year Built: 1963
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Common Walls: No Common Walls
  • Levels: Two
  • Price Per Square Foot: 407.19

Exterior Features

  • Pool Private: No

Garage/Parking

  • Garage Spaces: 5.00
  • Total Parking Spaces: 5.00

Utilities

  • Laundry: Yes
  • Laundry Features: Community
  • Sewer: Unknown
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No
  • Community Features: Urban

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: Level with Street
  • Lot Size Sq Ft: 6405.00

Rental Info

  • Garage Rental Rate: 125.00

Multi Family

  • Garage Income: 7500.00
  • Gross Income: 135060.00
  • Gross Multiplier: 4.79
  • Gross Operating Income: 208240.00
  • Gross Scheduled Income: 214680.00
  • Laundry Equipment Own Lease: Lease
  • Net Operating Income: 143836.00
  • Number Of Rented Garages: 5
  • Number Of Separate Electric Meters: 10
  • Number Of Separate Gas Meters: 1
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 3
  • Number Of Units Total: 9
  • Operating Expense: 64404.00
  • Operating Expense Percent: 30.00
  • Rent Control: No
  • Total Expenses: 64404.00
  • Vacancy Allowance Rate: 3.00

Tax Info

  • New Taxes Expense: 37500.00
  • Tax Census Tract: 5770.00
  • Tax Lot: 7
  • Tax Tract Number: 1

Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

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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
07/11/2018 07/11/18 Sold $2,900,000 -3.3% $407 / Sq Ft
07/04/2018 07/04/18 Pending -- -- --
07/01/2018 07/01/18 For Sale $2,999,999 +67.1% $421 / Sq Ft
12/21/2017 12/21/17 Sold $1,795,000 0.0% $252 / Sq Ft View Prior Sale
12/19/2017 12/19/17 Pending -- -- --
11/10/2017 11/10/17 For Sale $1,795,000 -- $252 / 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
2026 $47,652 $3,674,856 $2,164,864 $1,509,992
2025 $47,652 $3,602,801 $2,122,416 $1,480,385
2024 $45,587 $3,532,158 $2,080,800 $1,451,358
2023 $44,821 $3,462,900 $2,040,000 $1,422,900
2022 $42,046 $3,395,000 $2,000,000 $1,395,000
2021 $37,171 $2,988,644 $2,061,134 $927,510
2020 $37,074 $2,958,000 $2,040,000 $918,000
2019 $36,638 $2,900,000 $2,000,000 $900,000
2018 $23,096 $1,795,000 $1,260,000 $535,000
2016 $12,329 $954,934 $636,623 $318,311
2015 $11,853 $940,591 $627,061 $313,530
2014 $11,807 $922,167 $614,778 $307,389
Source: Public Records

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PW18160289

California Regional Multiple Listing Service (CRMLS)
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