NOT LISTED FOR SALE
5 Beds
4 Baths
3,678 Sq Ft
7,515 Sq Ft Lot

Sale Details

Date Sold: August 13, 2018

Last sale price $1,230,000 $334 Per Sq Ft

84 Days on Market

Highlights

  • 7,515 Sq Ft lot
  • Long Beach Polytechnic High School Rated A
  • Rectangular Lot

About This Home

As of August 2018

909 Locust Avenue comprises three duplexes that contain a total of two studios, two one-bedroom units and two two-bedroom units. One of the studios is being completely rehabbed and is expected to be completed by mid-May. The units are separately metered for gas and electricity. The property also offers one single-car garage and one driveway parking space.

The property is located on the northern edge of the North Pine neighborhood between Pacific Avenue and Long Beach Boulevard, conveniently near the 710 Freeway and just a seven-minute walk from the Metro Blue Line. This property boasts an excellent walk score of 92, which means tenants enjoy a “walker’s paradise” location.

With steady cash flow on current rents, substantial potential upside, and a good location in a strong rental market, 909 Locust Avenue presents an excellent value-add opportunity.

Last Agent to Sell the Property

Steve Bogoyevac

Steven M. Bogoyevac, Broker License #01332755 Listed on: 05/16/2018

Co-Listed By

David O'Keefe

Marcus & Millichap License #01928739

Last Buyer's Agent

Michael Fucci

The Proud Crowd Inc. License #01886363

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Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1909

Lot Details

  • 7,515 Sq Ft Lot
  • No Common Walls
  • Rectangular Lot

Parking

  • 1 Open Parking Space
  • 1 Car Garage

Home Design

  • 3,678 Sq Ft Home

Bedrooms and Bathrooms

  • 5 Bedrooms
  • 4 Bathrooms

Location

  • Urban Location

Listing and Financial Details

  • Tax Lot 21
  • Assessor Parcel Number 7273013011

Community Details

Overview

  • 3 Buildings
  • 6 Units

Building Details

  • 6 Separate Electric Meters
  • 6 Separate Gas Meters
  • Operating Expense $30,690
  • Net Operating Income $60,800

Property Details

Home Type

Multi-Family

Year Built

Built in 1909

Lot Details

7,515 Sq Ft Lot

Parking

1

Listing Details

  • Property Attached: No
  • Subdivision Name Other: North Pine
  • Zoning: LBR4N
  • Property Type: Residential Income
  • Parcel Number: 7273013011
  • Year Built: 1909
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Common Walls: No Common Walls
  • Price Per Square Foot: 334.42

Exterior Features

  • Pool Private: No

Garage/Parking

  • Garage Spaces: 1.00
  • Total Parking Spaces: 2.00
  • Uncovered Spaces: 1.00

Utilities

  • Laundry: No
  • Sewer: Public Sewer
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No
  • Community Features: Urban

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: Rectangular Lot
  • Lot Size Sq Ft: 7515.00

Multi Family

  • Gross Scheduled Income: 94320.00
  • Net Operating Income: 60800.00
  • Number Of Separate Electric Meters: 6
  • Number Of Separate Gas Meters: 6
  • Number Of Units Total: 6
  • Operating Expense: 30690.00
  • Rent Control: No
  • Total Expenses: 30690.00

Tax Info

  • Tax Census Tract: 5763.01
  • Tax Lot: 21

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
08/13/2018 08/13/18 Sold $1,230,000 -3.5% $334 / Sq Ft
08/08/2018 08/08/18 Pending -- -- --
05/16/2018 05/16/18 For Sale $1,275,000 +20.3% $347 / Sq Ft
02/24/2017 02/24/17 Sold $1,060,000 +1.0% $288 / Sq Ft View Prior Sale
12/21/2016 12/21/16 For Sale $1,050,000 -- $285 / 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 $19,104 $1,401,747 $909,242 $492,505
2024 $18,274 $1,374,263 $891,414 $482,849
2023 $17,963 $1,347,318 $873,936 $473,382
2022 $16,869 $1,320,900 $856,800 $464,100
2021 $16,200 $1,267,596 $886,287 $381,309
2020 $16,158 $1,254,600 $877,200 $377,400
2019 $15,969 $1,230,000 $860,000 $370,000
2018 $13,976 $1,081,200 $754,800 $326,400
2017 $7,852 $569,554 $398,688 $170,866
2016 $7,303 $558,387 $390,871 $167,516
2015 $7,023 $548,165 $379,105 $169,060
2014 $6,982 $537,428 $371,679 $165,749
Source: Public Records

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PW18115601

California Regional Multiple Listing Service (CRMLS)
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