Seller's Agent in 2020
Kevin King
Marcus & Millichap
(562) 257-1245
2 in this area
39 Total Sales
787 Cherry Ave Long Beach, CA 90813
Hellman Neighborhood
4
Beds
2
Baths
5,894
Sq Ft
6,222
Sq Ft Lot
About This Home
As of November 2020We are pleased to present an 8-unit apartment building located in Long Beach, California. Built in 1985, the subject property consists of 6,222 rentable square feet spread throughout a 5,894 square foot lot. The unit mix consists of all 2-bedroom / 1-bathroom units. It is separately metered for gas and electricity.
Owners enjoy the high demand for rentals in a coastal city of Southern California. Tenants enjoy living close to the ocean and Downtown Long Beach where there are shops, restaurants, cafes, entertainment centers and grocery stores. The city of Long Beach continues to progress forward and is currently experiencing major redevelopment.
Last Agent to Sell the Property
Marcus & Millichap License #01158184 Listed on: 09/08/2020
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1985
Lot Details
- 6,222 Sq Ft Lot
- Two or More Common Walls
- Density is 6-10 Units/Acre
Home Design
- Property Attached
Interior Spaces
- 5,894 Sq Ft Home
- 2-Story Property
- Laundry Room
Bedrooms and Bathrooms
- 4 Bedrooms
- 2 Bathrooms
Utilities
- Septic Type Unknown
Listing and Financial Details
- Tax Lot 11
- Tax Tract Number 4327
- Assessor Parcel Number 7267031012
Community Details
Overview
- 8 Units
- Eastside Subdivision
Amenities
- Laundry Facilities
Building Details
- 8 Separate Electric Meters
- 8 Separate Gas Meters
- 8 Separate Water Meters
- Electric Expense $1,200
- Fuel Expense $1,200
- Gardener Expense $600
- Insurance Expense $3,500
- Maintenance Expense $7,391
- Other Expense $1,600
- Professional Management Expense $8,212
- Trash Expense $1,200
- Water Sewer Expense $1,200
- New Taxes Expense $28,688
- Operating Expense $55,691
- Gross Income $168,000
- Net Operating Income $107,869
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Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 11/18/2020 11/18/20 | Sold | $2,170,000 | -5.4% | $368 / Sq Ft |
| 09/21/2020 09/21/20 | Pending | -- | -- | -- |
| 09/08/2020 09/08/20 | For Sale | $2,295,000 | -- | $389 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
Tax History
| 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 | $30,172 | $2,348,877 | $1,526,229 | $822,648 |
| 2024 | $30,172 | $2,302,821 | $1,496,303 | $806,518 |
| 2023 | $29,661 | $2,257,668 | $1,466,964 | $790,704 |
| 2022 | $27,838 | $2,213,400 | $1,438,200 | $775,200 |
| 2021 | $27,276 | $2,170,000 | $1,410,000 | $760,000 |
| 2020 | $5,994 | $383,275 | $171,358 | $211,917 |
| 2019 | $5,926 | $375,811 | $167,999 | $207,812 |
| 2018 | $5,698 | $368,493 | $164,705 | $203,788 |
| 2016 | $5,228 | $351,735 | $158,310 | $193,425 |
| 2015 | $5,044 | $346,453 | $155,933 | $190,520 |
| 2014 | $5,054 | $339,667 | $152,879 | $186,788 |
Source: Public Records
Agents Affiliated with this Home
-
Kevin King
-
NoEmail NoEmail
N
Buyer's Agent in 2020
NoEmail NoEmail
NONMEMBER MRML
(646) 541-2551
3 in this area
6,293 Total Sales
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: PW20186491
Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.
The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
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