NOT LISTED FOR SALE
9 Beds
6 Baths
4,320 Sq Ft
6,945 Sq Ft Lot

Sale Details

Date Sold: December 11, 2014

Last sale price $800,000 $185 Per Sq Ft

46 Days on Market

Highlights

  • No HOA
  • Laundry Facilities
  • 3-minute walk to Craftsman Village Park
  • Long Beach Polytechnic High School Rated A

About This Home

As of December 2014

7 units with good unit mix of mostly 2 and 3 bedrooms. 6% Cap Rate on Actual rents with upside on rents. Property consists of a large lot just one block north of 7th street. Two buildings with 3 units in the front building and 4 in the back. Fenced open space with lawn in the front of the property give these front units a "house" feeling. Laundry machines on site for Tenant convenience and are owned by owner for extra income. Many improvements done over the past few years.

Last Agent to Sell the Property

Richard Bell

Bell Realty Group License #01344469 Listed on: 10/10/2014

Last Buyer's Agent

Maribel Perez

Keller Williams Realty License #01318668

Keller Williams Realty
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Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1948

Lot Details

  • 6,945 Sq Ft Lot
  • Two or More Common Walls
  • Density is 6-10 Units/Acre

Home Design

  • Property Attached

Interior Spaces

  • 4,320 Sq Ft Home
  • 2-Story Property

Bedrooms and Bathrooms

  • 9 Bedrooms
  • 6 Bathrooms

Outdoor Features

  • Exterior Lighting

Listing and Financial Details

  • Tenant pays for electricity, gas
  • Tax Lot 1
  • Assessor Parcel Number 7266004040

Community Details

Overview

  • No Home Owners Association
  • 2 Buildings
  • 7 Units

Amenities

  • Laundry Facilities

Building Details

  • 7 Leased Units
  • 7 Separate Electric Meters
  • 7 Separate Gas Meters
  • 2 Separate Water Meters
  • Gross Income $6,665
  • Net Operating Income $49,520

Property Details

Home Type

Multi-Family

Year Built

Built in 1948

Lot Details

6,945 Sq Ft Lot

Listing Details

  • CapRate: 6.00
  • Property Attached: Yes
  • Property Type: Residential Income
  • Parcel Number: 7266004040
  • Year Built: 1948
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Stories: 2
  • Common Walls: 2+ Common Walls
  • Levels: Two
  • Price Per Square Foot: 185.19

Exterior Features

  • Pool Private: No

Utilities

  • Utilities: Sewer Connected
  • Laundry: Yes
  • Laundry Features: Community
  • Water Source: Public

Condo/Co-op/Association

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

Lot Info

  • Lot Features: 6-10 Units/Acre
  • Lot Size Sq Ft: 6945.00
  • Lot Size Acres: 0.1590

Rental Info

  • Tenant Pays: Electricity, Gas

Multi Family

  • Gross Income: 6665.00
  • Gross Multiplier: 10.20
  • Gross Scheduled Income: 81180.00
  • Laundry Equipment Own Lease: Own
  • Lot Size Area: 6945.0000 Square Feet
  • Net Operating Income: 49520.00
  • Number Of Separate Electric Meters: 7
  • Number Of Separate Gas Meters: 7
  • Number Of Separate Water Meters: 2
  • Number Of Units Leased: 7
  • Number Of Units Total: 7
  • Operating Expense: 29225.00
  • Other Income Description: GRM & Cap Rate on ACTUAL RENTS
  • Rent Control: No
  • Total Actual Rent: 6665.00
  • Vacancy Allowance Rate: 3.00

Tax Info

  • Tax Lot: 1
  • Tax Tract Number: E95

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
Mar 15, 2019
Sold by
Bought by

Purchase Details

Listed on
Oct 10, 2014
Closed on
Dec 8, 2014
Sold by
Bought by
Seller's Agent
Richard Bell
Bell Realty Group
Buyer's Agent
Maribel Perez
Keller Williams Realty
List Price
$825,000
Sold Price
$800,000
Premium/Discount to List
-$25,000
-3.03%

Purchase Details

Listed on
Oct 10, 2014
Closed on
Nov 25, 2014
Sold by
Bought by
Seller's Agent
Richard Bell
Bell Realty Group
Buyer's Agent
Maribel Perez
Keller Williams Realty
List Price
$825,000
Sold Price
$800,000
Premium/Discount to List
-$25,000
-3.03%

Purchase Details

Closed on
Jul 6, 2005
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
$400,000
Interest Rate
5.51%
Mortgage Type
Commercial

Purchase Details

Closed on
Sep 22, 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
$237,000
Interest Rate
5.83%
Mortgage Type
Commercial

Purchase Details

Closed on
Nov 30, 1999
Sold by
Bought by
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
-- None Available
-- Fidelity National Title
$800,000 Fidelity National Title
-- --
-- First American 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
Previous Owner $400,000
Previous Owner $100,000
Previous Owner $237,000
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
12/11/2014 12/11/14 Sold $800,000 -3.0% $185 / Sq Ft
11/25/2014 11/25/14 Pending -- -- --
10/10/2014 10/10/14 For Sale $825,000 -- $191 / 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 $13,625 $961,471 $673,031 $288,440
2024 $13,024 $942,620 $659,835 $282,785
2023 $12,795 $924,139 $646,898 $277,241
2022 $12,027 $906,019 $634,214 $271,805
2021 $11,762 $888,255 $621,779 $266,476
2020 $11,732 $879,328 $615,404 $263,924
2019 $11,594 $862,091 $603,338 $258,753
2018 $11,259 $845,191 $591,508 $253,683
2016 $10,359 $812,200 $568,540 $243,660
2015 $10,755 $800,000 $560,000 $240,000
2014 $2,795 $158,869 $62,249 $96,620
Source: Public Records

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PW14218782

California Regional Multiple Listing Service (CRMLS)
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