NOT LISTED FOR SALE

920 N Washington Place Long Beach, CA 90813

Saint Mary's Neighborhood
6 Beds
6 Baths
4,200 Sq Ft
1920 Built

Last Sold June 09, 2017

Last sale price $985,000 $235 Per Sq Ft

46 Days on Market

About This Home

As of June 2017

920 North Washington Place, a six-unit apartment building located in Long Beach, California. The subject property is located a block East of Alamitos Avenue and a block South of 10th Street. This investment presents a stable, low expense opportunity with a 5.41% Cap Rate and 8.78% total return on current income. The unit mix of this three-story building consists of (6) large. 700 square foot one bedroom and one bath units totaling 4,200 square feet.

- Extensive Interior and Exterior Renovations
- Substantial Upside in Rents
- Stable, Low Expense Opportunity

Last Agent to Sell the Property

Greg Bassirpou

Marcus & Millichap RE Invest License #01365951 Listed on: 03/31/2017

Last Buyer's Agent

NoEmail NoEmail

NONMEMBER MRML

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1920

Lot Details

  • 6,847 Sq Ft Lot
  • No Common Walls

Home Design

  • Stucco

Interior Spaces

  • 4,200 Sq Ft Home
  • 3-Story Property

Bedrooms and Bathrooms

  • 6 Bedrooms
  • 6 Bathrooms

Utilities

  • Natural Gas Connected
  • Phone Available
  • Cable TV Available

Additional Features

  • Exterior Lighting
  • Property is near public transit

Listing and Financial Details

  • Tax Lot 5
  • Tax Tract Number 5763
  • Assessor Parcel Number 7274022006

Community Details

Overview

  • 6 Units

Building Details

  • 6 Leased Units
  • 6 Separate Electric Meters
  • 6 Separate Gas Meters
  • 1 Separate Water Meter
  • Electric Expense $1,108
  • Insurance Expense $3,087
  • Trash Expense $277
  • Water Sewer Expense $831
  • New Taxes Expense $12,000
  • Operating Expense $22,911
  • Gross Income $76,760
  • Net Operating Income $53,849

Property Details

Home Type

Multi-Family

Year Built

Built in 1920

Lot Details

0

Listing Details

  • CapRate: 5.28
  • Other Phone Description: Direct Phone
  • Other Phone Number: 9494193234
  • Property Attached: No
  • Water Sewer Expenses: 831.00
  • Zoning: LBR4R
  • Property Type: Residential Income
  • Parcel Number: 7274022006
  • Year Built: 1920
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Stories: 3
  • Common Walls: No Common Walls
  • Levels: Three Or More
  • Price Per Square Foot: 234.52

Exterior Features

  • Pool Private: No
  • Construction Materials: Stucco

Utilities

  • Utilities: Cable Available, Electricity Connected, Natural Gas Connected, Phone Available, Sewer Connected, Water Connected
  • Sewer: Public Sewer
  • Trash Expense: 277.00
  • Water Source: Public

Condo/Co-op/Association

  • Community Features: Sidewalks, Street Lights

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: Near Public Transit
  • Lot Size Sq Ft: 6847.00

Multi Family

  • Average1 Bed Area: 700 Square Feet
  • Electric Expense: 1108.00
  • Gross Income: 76760.00
  • Gross Scheduled Income: 79100.00
  • Insurance Expense: 3087.00
  • Laundry Income: 1100.00
  • Net Operating Income: 53849.00
  • Number Of Separate Electric Meters: 6
  • Number Of Separate Gas Meters: 6
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 6
  • Number Of Units Total: 6
  • Operating Expense: 22911.00
  • Rent Control: No
  • Total Actual Rent: 6500.00
  • Total Expenses: 22911.00
  • Vacancy Allowance Rate: 3.00

Tax Info

  • New Taxes Expense: 12000.00
  • Tax Lot: 5
  • Tax Tract Number: 5763

Range of Values:

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Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price Change Sq Ft Price
06/09/2017 06/09/17 Sold $985,000 -1.0% $235 / Sq Ft
05/16/2017 05/16/17 Pending -- -- --
04/18/2017 04/18/17 Price Changed $995,000 -0.5% $237 / Sq Ft
03/31/2017 03/31/17 For Sale $1,000,000 +33.3% $238 / Sq Ft
02/18/2016 02/18/16 Sold $750,000 -11.8% $179 / Sq Ft
12/22/2015 12/22/15 Pending -- -- --
10/06/2015 10/06/15 For Sale $850,000 -- $202 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Greg Bassirpou

    Seller's Agent in 2017

    Greg Bassirpou

    Marcus & Millichap RE Invest

    (949) 419-3269

    1 in this area

    33 Total Sales

    Greg Bassirpou
    Section Image

  • N

    Buyer's Agent in 2017

    NoEmail NoEmail

    NONMEMBER MRML

    (646) 541-2551

    2 in this area

    5,738 Total Sales

    NoEmail NoEmail
    Section Image
  • Kevin King

    Seller's Agent in 2016

    Kevin King

    Marcus & Millichap

    (562) 257-1245

    1 in this area

    45 Total Sales

    Kevin King
    Section Image
See All Agents

Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: OC17069250

California Regional Multiple Listing Service (CRMLS)

California Los Angeles County Long Beach 90813 Saint Mary's

920 N Washington Place, Long Beach, CA

This home is located at 920 N Washington Place, Long Beach, CA 90813 since 31 March 2017. This property was built in 1920. 920 N Washington Place is a home located in Los Angeles County with nearby schools including Oropeza Elementary, Franklin Middle School, and Long Beach Polytechnic High School.

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.

California Regional Multiple Listing Service (CRMLS) 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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