920 N Washington Place Long Beach, CA 90813
Saint Mary's Neighborhood
6
Beds
6
Baths
4,200
Sq Ft
1920
Built
About This Home
As of June 2017920 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
Marcus & Millichap RE Invest License #01365951 Listed on: 03/31/2017
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
Similar Homes in Long Beach, CA
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Home Values in the Area
Average Home Value in this Area
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
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
-
NoEmail NoEmail
N
Buyer's Agent in 2017
NoEmail NoEmail
NONMEMBER MRML
(646) 541-2551
2 in this area
5,738 Total Sales
-
Kevin King
Seller's Agent in 2016
Kevin King
Marcus & Millichap
(562) 257-1245
1 in this area
45 Total Sales
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: OC17069250
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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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