NOT LISTED FOR SALE

939 E 4th St Long Beach, CA 90802

North Alamitos Beach Neighborhood

Estimated Value: $1,739,368

2 Beds
4 Baths
4,000 Sq Ft
$435/Sq Ft Est. Value

Last Sold August 29, 2012

Last sale price $675,000 $169 Per Sq Ft

Est. 158% increase in value since last sale

Current estimated payment $10,206/month

21 Days on Market

Highlights

  • No HOA
  • Long Beach Polytechnic High School Rated A
  • Turnkey

About This Home

As of August 2012

Wonderful opportunity to own a property with greater earning power. The two retail units together equal the revenue of the existing units plus one more. With the revenue of these retail units, this property produces income equivalent to an 11-unit apartment building. Even more earning power comes from the billboard on the roof. Easy to own as it is managed by an excellent company. Tenants have been thoroughly screened and pay consistently. Staches has a 3-year lease with 3 options. Recent improvements include newer exterior electrical meters and a new interior unit bathroom remodel. The residential units are in good condition. Sound proofing materials were used between the lower commercial unit and the upstairs residential units. The roof was replaced about five years ago. Some tenants pay gas and electricity, owner pays some gas and electricity. Located next to the desired Village Arts District, just a couple blocks from the creatively-inspired shops and restaurants, and the brand new Vons grocery store. Walking distance to the Promenade and City Place to the west, and the ocean to the south.

Last Agent to Sell the Property

Jennifer Song

Jennifer Anne Song License #01378609 Listed on: 07/02/2012

Last Buyer's Agent

Mike Cristiano

Coldwell Banker Realty License #00849359

Coldwell Banker Realty

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $11,808

Year Built

  • Built in 1913

Lot Details

  • 2,422 Sq Ft Lot
  • Lot Dimensions are 60 x 40.50

Home Design

  • 4,000 Sq Ft Home
  • Turnkey
  • Frame Construction
  • Stucco

Bedrooms and Bathrooms

  • 2 Bedrooms
  • 4 Bathrooms

Listing and Financial Details

  • Tenant pays for cable TV, electricity, gas
  • Tax Lot 8
  • Tax Tract Number 8
  • Assessor Parcel Number 7266008014

Community Details

Overview

  • No Home Owners Association
  • 6 Units

Building Details

  • 6 Leased Units
  • 5 Separate Electric Meters
  • 2 Separate Gas Meters
  • 2 Separate Water Meters
  • Electric Expense $1,900
  • Insurance Expense $2,600
  • Maintenance Expense $4,800
  • Other Expense $100
  • Pest Control $483
  • Professional Management Expense $5,585
  • Trash Expense $960
  • Water Sewer Expense $2,900
  • New Taxes Expense $8,083
  • Gross Income $6,565
  • Net Operating Income $46,492

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$11,808

Year Built

Built in 1913

Lot Details

0

Listing Details

  • CapRate: 6.69
  • Professional Management Expense: 5585.00
  • Subdivision Name Other: Belmont Heights (BH)
  • Water Sewer Expenses: 2900.00
  • Zoning: LBCO
  • Property Condition: Turnkey
  • Property Type: Residential Income
  • Parcel Number: 7266008014
  • Year Built: 1913
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Levels: Two
  • Price Per Square Foot: 168.75

Exterior Features

  • Construction Materials: Frame, Stucco

Utilities

  • Pest Control Expense: 483.00
  • Trash Expense: 960.00

Condo/Co-op/Association

  • Association: No
  • Senior Community: No

Lot Info

  • Lot Size: 60 x 40.50
  • Lot Size Sq Ft: 2422.00
  • Lot Size Acres: 0.0560

Rental Info

  • Tenant Pays: Cable TV, Electricity, Gas

Multi Family

  • Average1 Bed Area: 500
  • Electric Expense: 1900.00
  • Gross Income: 6565.00
  • Gross Multiplier: 8.89
  • Gross Scheduled Income: 78780.00
  • Gross Spendable Income: 13456.00
  • Insurance Expense: 2600.00
  • Lot Size Area: 2422.0000 Square Feet
  • Maintenance Expense: 4800.00
  • Maintenance Percent: 6.00
  • Net Operating Income: 46492.00
  • Number Of Separate Electric Meters: 5
  • Number Of Separate Gas Meters: 2
  • Number Of Separate Water Meters: 2
  • Number Of Units Leased: 6
  • Number Of Units Total: 6
  • Operating Expense: 27999.00
  • Operating Expense Percent: 35.70
  • Other Expense: 100.00
  • Other Expense Description: Misc
  • Other Income Description: Billboard Revenue
  • Rent Control: No
  • Total Actual Rent: 6370.00
  • Vacancy Allowance: 3939
  • Vacancy Allowance Rate: 5.00

Tax Info

  • New Taxes Expense: 8083.00
  • Tax Area: 11-993
  • Tax Lot: 8
  • Tax Tract Number: 8
  • Tax Year: 2011

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Dec 28, 2012
Sold by
Maginnis Brian and Brian Maginnis Intervivos Trus
Bought by
Pmbm Llc
Current Estimated Value
$1,739,368

Purchase Details

Closed on
Dec 27, 2012
Sold by
Socal Rental Equip Inc
Bought by
Maginnis Brian and Brian Maginnis Intervivos Trus

Purchase Details

Listed on
Jul 2, 2012
Closed on
Jul 24, 2012
Sold by
Cheapshots Llc
Bought by
Socal Rental Equip Inc
Seller's Agent
Jennifer Song
Jennifer Anne Song
Buyer's Agent
Mike Cristiano
Coldwell Banker Realty
List Price
$700,000
Sold Price
$675,000
Premium/Discount to List
-$25,000
-3.57%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
7.47%

Purchase Details

Closed on
May 4, 2011
Sold by
Hebbert Jeannette
Bought by
Bertland Dennis

Purchase Details

Closed on
Mar 7, 2008
Sold by
Lee Shun Ming and Lee Cecilia Siu Wai Yee
Bought by
Lee Shun Ming and Siu Cecilia Wai Yee

Purchase Details

Closed on
Jun 2, 2007
Sold by
Ford Kellie Richardson
Bought by
Cheapshots Llc

Purchase Details

Closed on
Aug 11, 2005
Sold by
Ford David
Bought by
Richardson Ford Kellie

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$373,750
Interest Rate
5.56%
Mortgage Type
Commercial

Purchase Details

Closed on
Jul 5, 2005
Sold by
Dautilia Alicia
Bought by
Ford Kellie Richardson

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$373,750
Interest Rate
5.56%
Mortgage Type
Commercial

Purchase Details

Closed on
Oct 7, 2003
Sold by
Hebbert Jeannette Brynes and Elizabeth M Hebbert Revocable
Bought by
Hebbert Jeannette Brynes

Purchase Details

Closed on
Jul 17, 2000
Sold by
Hebbert Elizabeth M
Bought by
Hebbert Elizabeth M and Elizabeth M Hebbert Revocable
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
Pmbm Llc -- None Available
Maginnis Brian $702,000 None Available
Socal Rental Equip Inc $675,000 None Available
Bertland Dennis -- None Available
Lee Shun Ming -- None Available
Cheapshots Llc -- None Available
Richardson Ford Kellie -- First American Title Ins Co
Ford Kellie Richardson $575,000 First American Title Ins Co
Hebbert Jeannette Brynes -- --
Hebbert Elizabeth M -- --
Hebbert Elizabeth M -- --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Ford Kellie Richardson $373,750
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
08/29/2012 08/29/12 Sold $675,000 -3.6% $169 / Sq Ft
07/23/2012 07/23/12 Pending -- -- --
07/02/2012 07/02/12 For Sale $700,000 -- $175 / 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 $11,808 $864,450 $301,695 $562,755
2024 $11,808 $847,501 $295,780 $551,721
2023 $11,595 $830,884 $289,981 $540,903
2022 $10,897 $814,594 $284,296 $530,298
2021 $10,651 $798,622 $278,722 $519,900
2019 $10,497 $774,937 $270,456 $504,481
2018 $10,222 $759,743 $265,153 $494,590
2016 $9,406 $730,243 $254,857 $475,386
2015 $9,040 $719,275 $251,029 $468,246
2014 $8,968 $705,186 $246,112 $459,074
Source: Public Records

Agents Affiliated with this Home

  • J

    Seller's Agent in 2012

    Jennifer Song

    Jennifer Anne Song

    (310) 802-2508

    2 Total Sales

    Jennifer Song
    Section Image

  • M

    Buyer's Agent in 2012

    Mike Cristiano

    Coldwell Banker Realty

    Section Image
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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: S12082507

California Regional Multiple Listing Service (CRMLS)

APN: 7266-008-014

California Los Angeles County Long Beach 90802 North Alamitos Beach

939 E 4th St, Long Beach, CA

This home is located at 939 E 4th St, Long Beach, CA 90802 since 02 July 2012 and is currently estimated at $1,739,368, approximately $434 per square foot. This property was built in 1913. 939 E 4th St is a home located in Los Angeles County with nearby schools including Stevenson Elementary School, 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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