NOT LISTED FOR SALE

Estimated Value: $976,000 - $1,225,000

4 Beds
3 Baths
2,302 Sq Ft
$466/Sq Ft Est. Value

Last Sold April 01, 2021

Last sale price $895,000 $389 Per Sq Ft

Est. 20% increase in value since last sale

Current estimated payment $6,900/month

6 Days on Market

Highlights

  • All Bedrooms Downstairs
  • Craftsman Architecture
  • Wood Flooring
  • Long Beach Polytechnic High School Rated A
  • Property is near public transit
  • Corner Lot

About This Home

As of April 2021

Rare Investment opportunity located in Historic Craftsman Village!
Fantastic corner lot location consisting of a traditional Craftsman home with beautiful architectural lines & a gracious front porch on Walnut Ave., along with a recently remodeled Duplex consisting of 2 (1x1) Units plus a separate studio located on the 9th st side of the lot.
So many possibilities, along with a huge upside potential on the rents! All of these have long term tenants of 3 plus years or more. This could go as an owner user who would want to remodel the House and live in it, or for the investor looking for a nice addition to their portfolio, or for the investor who would want to remodel the front house as well as the studio for resale. Multi unit remodels in the area are going up right now due to the lack of inventory. This really is a must see as these do not hit the market very often.
The Duplex was fully remodeled in 2015 with permits. Please note that interior photos are of the duplex upon its remodel prior to being occupied.
There is also a fully transferable Oil & Gas lease that will provide approx $2000 annually of passive income.
Showings will be conducted on weekends only, so call listing agent to schedule your showing today.

Last Agent to Sell the Property

Scott Niles

eHomes License #01923986 Listed on: 02/23/2021

Last Buyer's Agent

Scott Niles

eHomes License #01923986 Listed on: 02/23/2021

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $12,590

Year Built

  • Built in 1922 | Remodeled

Lot Details

  • 5,715 Sq Ft Lot
  • 1 Common Wall
  • Chain Link Fence
  • Corner Lot
  • Level Lot
  • Front Yard
  • On-Hand Building Permits

Parking

  • 2 Car Garage
  • Parking Available
  • Unassigned Parking

Home Design

  • Craftsman Architecture
  • Quadruplex
  • Flat Roof Shape
  • Shingle Roof
  • Composition Roof
  • Partial Copper Plumbing

Interior Spaces

  • 2,302 Sq Ft Home
  • 2-Story Property
  • Coffered Ceiling

Kitchen

  • Gas Oven
  • Gas Range
  • Microwave
  • Granite Countertops
  • Laminate Countertops

Flooring

  • Wood
  • Tile

Bedrooms and Bathrooms

  • 4 Bedrooms
  • All Bedrooms Down
  • 3 Bathrooms

Laundry

  • Laundry Room
  • Laundry in Kitchen
  • Dryer
  • Washer

Location

  • Property is near public transit

Utilities

  • Cooling System Mounted To A Wall/Window
  • Wall Furnace
  • Natural Gas Connected
  • Gas Water Heater

Listing and Financial Details

  • Tenant pays for electricity, gas
  • Tax Lot 6
  • Tax Tract Number 5764
  • Assessor Parcel Number 7267019007

Community Details

Overview

  • No Home Owners Association
  • 3 Buildings
  • 4 Units

Recreation

  • Park

Building Details

  • 4 Leased Units
  • Rent Control
  • 5 Separate Electric Meters
  • 4 Separate Gas Meters
  • 1 Separate Water Meter
  • Electric Expense $25
  • Insurance Expense $150
  • Trash Expense $200
  • Water Sewer Expense $400
  • New Taxes Expense $10,980
  • Operating Expense $11,755
  • Gross Income $53,220
  • Net Operating Income $51,020

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$12,590

Year Built

Built in 1922 | Remodeled

Lot Details

0

Parking

2

Listing Details

  • Other Phone Description: Scott Niles
  • Other Phone Number: 7142442744
  • Property Attached: Yes
  • Road Frontage Type: City Street
  • Road Surface Type: Maintained, Paved
  • View: No
  • Water Sewer Expenses: 400.00
  • Zoning: LBR2N
  • Architectural Style: Craftsman
  • Property Condition: Building Permit, Updated/Remodeled
  • Property Sub Type: Quadruplex
  • Property Type: Residential Income
  • Parcel Number: 7267019007
  • Year Built: 1922
  • Special Features: None

Interior Features

  • Fireplace: No
  • Interior Amenities: Coffered Ceiling(s), Copper Plumbing Partial, Granite Counters, Laminate Counters
  • Stories: 2
  • Common Walls: 1 Common Wall
  • Flooring: Tile, Wood
  • Appliances: Yes
  • Levels: Two
  • Price Per Square Foot: 388.79
  • Room Type: All Bedrooms Down

Exterior Features

  • Fence: Yes
  • Fencing: Chain Link
  • Pool Private: No
  • Roof: Composition, Flat, Shingle
  • Spa: No

Garage/Parking

  • Garage Spaces: 2.00
  • Parking: Yes
  • Parking Features: Unassigned
  • Total Parking Spaces: 2.00

Utilities

  • Utilities: Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
  • Heating: Yes
  • Laundry: Yes
  • Appliances: Gas Oven, Gas Range, Gas Water Heater, Microwave, Refrigerator, Water Heater
  • Electric: Standard
  • Heating Type: Wall Furnace
  • Laundry Features: Dryer Included, In Kitchen, Washer Included
  • Sewer: Public Sewer
  • Trash Expense: 200.00
  • Water Source: Public
  • Cooling: Wall/Window Unit(s)
  • Cooling: Yes

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Community Features: Park, Sidewalks, Storm Drains

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: Corner Lot, Front Yard, Level with Street, Near Public Transit
  • Lot Size Sq Ft: 5715.00
  • Lot Size Acres: 0.1312

Rental Info

  • Tenant Pays: Electricity, Gas

Multi Family

  • Average1 Bed Area: 500 Square Feet
  • Average2 Bed Area: 1000 Square Feet
  • Average Studio Area: 400 Square Feet
  • Electric Expense: 25.00
  • Gross Income: 53220.00
  • Gross Scheduled Income: 53220.00
  • Insurance Expense: 150.00
  • Laundry Equipment Own Lease: Own
  • Lot Size Area: 5715.0000 Square Feet
  • Net Operating Income: 51020.00
  • Number Of Separate Electric Meters: 5
  • Number Of Separate Gas Meters: 4
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 4
  • Number Of Units Total: 4
  • Number With Range: 4
  • Number With Refrigerator: 2
  • Operating Expense: 2200.00
  • Rent Control: Yes
  • Total Actual Rent: 4435.00
  • Total Expenses: 11755.00

Tax Info

  • New Taxes Expense: 10980.00
  • Tax Census Tract: 5764.02
  • Tax Lot: 6
  • Tax Tract Number: 5764

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Feb 23, 2021
Closed on
Mar 2, 2021
Sold by
Metzger Kaylee and Metzger John
Bought by
Cirelli Michael and Zaidi Sara
Seller's Agent
Scott Niles
eHomes
Buyer's Agent
Scott Niles
eHomes
List Price
$879,000
Sold Price
$895,000
Premium/Discount to List
$16,000
1.82%
Current Estimated Value
$1,073,778

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$178,778
Avg. Annual Appreciation
3.89%
Original Mortgage
$671,250
Outstanding Balance
$605,437
Interest Rate
2.8%
Mortgage Type
New Conventional
Estimated Equity
$453,331

Purchase Details

Listed on
Apr 27, 2015
Closed on
May 29, 2015
Sold by
Metzger Lydia
Bought by
Metzger John
Seller's Agent
Eileen Rivera
GE Dean and Associates
Buyer's Agent
Albert Hanna
Alt Financial Network Inc
List Price
$599,900
Sold Price
$595,000
Premium/Discount to List
-$4,900
-0.82%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
7.28%
Original Mortgage
$584,223
Interest Rate
3.5%
Mortgage Type
FHA

Purchase Details

Listed on
Apr 27, 2015
Closed on
May 8, 2015
Sold by
Garchev Aleksly and Teophilov Nickolay
Bought by
Metzger Kaylee and Metzger John
Seller's Agent
Eileen Rivera
GE Dean and Associates
Buyer's Agent
Albert Hanna
Alt Financial Network Inc
List Price
$599,900
Sold Price
$595,000
Premium/Discount to List
-$4,900
-0.82%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$584,223
Interest Rate
3.5%
Mortgage Type
FHA

Purchase Details

Closed on
Nov 9, 2010
Sold by
Im Sotan and Im Sunthy
Bought by
Garchev Aleksly and Teophilov Nickolay

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$282,750
Interest Rate
4.18%
Mortgage Type
New Conventional

Purchase Details

Closed on
Dec 9, 2009
Sold by
Deutsche Bank National Trust Company
Bought by
Im Sotan and Im Sunthy

Purchase Details

Closed on
Aug 13, 2009
Sold by
Mendoza Felix and Mendoza Milagros
Bought by
Deutsche Bank National Trust Company

Purchase Details

Closed on
Jun 16, 2003
Sold by
Mendoza Felix
Bought by
Mendoza Felix and Mendoza Milagros

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$269,500
Interest Rate
7.5%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
Oct 26, 1993
Sold by
Home Svgs Of America Fsb
Bought by
Mendoza Felix

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$153,727
Interest Rate
6.81%
Mortgage Type
FHA

Purchase Details

Closed on
Oct 15, 1993
Sold by
Mendoza Milagros
Bought by
Mendoza Felix

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$153,727
Interest Rate
6.81%
Mortgage Type
FHA
Source: Public Records

Range of Values:

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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

Date Buyer Sale Price Title Company
Cirelli Michael $895,000 Stewart Title Of Ca Inc
Metzger John -- Chicago Title Company
Metzger Kaylee $595,000 Chicago Title Company
Garchev Aleksly $377,000 Fidelity National Title Co
Im Sotan $285,000 Lsi Title Company
Deutsche Bank National Trust Company $284,750 Accommodation
Mendoza Felix -- First American Title Co
Mendoza Felix $156,000 Investors Title Company
Mendoza Felix -- Investors Title Company
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Cirelli Michael $671,250
Previous Owner Metzger John $568,000
Previous Owner Metzger Kaylee $584,223
Previous Owner Garchev Aleksly $282,750
Previous Owner Mendoza Felix $432,000
Previous Owner Mendoza Felix $329,000
Previous Owner Mendoza Felix $269,500
Previous Owner Mendoza Felix $243,000
Previous Owner Mendoza Felix $235,450
Previous Owner Mendoza Felix $195,000
Previous Owner Mendoza Felix $153,727
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
04/01/2021 04/01/21 Sold $895,000 +1.8% $389 / Sq Ft
03/01/2021 03/01/21 Pending -- -- --
02/23/2021 02/23/21 For Sale $879,000 +47.7% $382 / Sq Ft
06/13/2015 06/13/15 Sold $595,000 -0.8% $258 / Sq Ft
04/27/2015 04/27/15 Pending -- -- --
04/27/2015 04/27/15 For Sale $599,900 -- $261 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

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 $12,590 $968,775 $627,810 $340,965
2024 $12,590 $949,780 $615,500 $334,280
2023 $12,375 $931,158 $603,432 $327,726
2022 $11,620 $912,900 $591,600 $321,300
2021 $8,594 $660,636 $460,781 $199,855
2020 $8,572 $653,863 $456,057 $197,806
2019 $8,472 $641,043 $447,115 $193,928
2018 $8,202 $628,475 $438,349 $190,126
2016 $7,550 $604,073 $421,328 $182,745
2015 $5,080 $401,882 $277,161 $124,721
2014 $5,062 $394,010 $271,732 $122,278
Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: SB21038087

California Regional Multiple Listing Service (CRMLS)

APN: 7267-019-007