B
Seller's Agent in 2016
Brad Miles
INCO Commercial Realty Inc
944 E 5th St Long Beach, CA 90802
North Alamitos Beach NeighborhoodEstimated Value: $1,115,000
3
Beds
5
Baths
2,740
Sq Ft
$407/Sq Ft
Est. Value
About This Home
As of February 2016***JUST REDUCED. Motivated Seller.
An Investment in 944-964 E 5th St represents a property constructed on a large lot with turn of the century charm and a corner location between 4th St and Museum of Latin American Art (MOLAA).
4 separate buildings are included in the offering including a triplex, a single tenant bachelor unit, a duplex and a free standing garage. The single bachelor unit does not show on the title report, but was legally permitted by the city years ago. Buyer is advised to review this documentation during due diligence. Currently, the rents are definitely under market so a new investor could find the right combination of added amenities and achieve higher rents
The 7,375 square foot offers tenants plenty of common/ open yard area for relaxation, and could be considered as a future development site. Utilities are separately metered and each unit has its own gas water heater.
Last Agent to Sell the Property
Brad Miles
INCO Commercial Realty Inc License #00927860 Listed on: 09/10/2015
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $9,758
Year Built
- Built in 1909
Lot Details
- 7,375 Sq Ft Lot
- Two or More Common Walls
- Density is 6-10 Units/Acre
Parking
- 1 Car Garage
- 1 Carport Space
Home Design
- 2,740 Sq Ft Home
- Property Attached
Bedrooms and Bathrooms
- 3 Bedrooms
- 5 Bathrooms
Outdoor Features
- Rain Gutters
Listing and Financial Details
- Tax Lot 8
- Assessor Parcel Number 7266008027
Community Details
Overview
- 3 Buildings
- 6 Units
Building Details
- 6 Separate Electric Meters
- 6 Separate Gas Meters
- 1 Separate Water Meter
- Insurance Expense $959
- Other Expense $300
- Pest Control $360
- Professional Management Expense $2,631
- Trash Expense $383
- Water Sewer Expense $817
- New Taxes Expense $10,740
- Gross Income $52,620
- Net Operating Income $32,091
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Closed on
Nov 1, 2020
Sold by
Howard Jesse and Howard Cynthia Pellechio
Bought by
Alamitos Beach Investments Llc
Current Estimated Value
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$874,000
Outstanding Balance
$782,629
Interest Rate
2.9%
Mortgage Type
Construction
Estimated Equity
$332,371
Purchase Details
Listed on
Sep 10, 2015
Closed on
Dec 11, 2015
Sold by
Gardenswartz Jay Loren and Gardenswartz Susan Terry
Bought by
Pellechio Howard Jesse and Pellechio Howard Cynthia
Seller's Agent
Brad Miles
INCO Commercial Realty Inc
Buyer's Agent
Cynthia Howard
Cynthia Howard, Broker
List Price
$895,000
Sold Price
$600,000
Premium/Discount to List
-$295,000
-32.96%
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
6.73%
Purchase Details
Closed on
Feb 8, 2003
Sold by
Weeks Constance R and Weeks Stephen C
Bought by
Barstad Constance R and Weeks Stephen C
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area
Home Values in the Area
Average Home Value in this Area
Purchase History
| Date | Buyer | Sale Price | Title Company |
|---|---|---|---|
| Alamitos Beach Investments Llc | -- | Wfg Title Company | |
| Pellechio Howard Jesse | $600,000 | Fidelity National Title | |
| Barstad Constance R | -- | -- |
Source: Public Records
Mortgage History
| Date | Status | Borrower | Loan Amount |
|---|---|---|---|
| Open | Alamitos Beach Investments Llc | $874,000 | |
| Previous Owner | Gardenswartz Jay Loren | $257,500 | |
| Previous Owner | Gardenswartz Jay Loren | $25,000 | |
| Previous Owner | Gardenswartz Jay Loren | $85,260 |
Source: Public Records
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 02/05/2016 02/05/16 | Sold | $600,000 | -33.0% | $219 / Sq Ft |
| 12/08/2015 12/08/15 | Pending | -- | -- | -- |
| 08/03/2015 08/03/15 | For Sale | $895,000 | -- | $327 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
Tax History Compared to Growth
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 | $9,758 | $710,272 | $497,191 | $213,081 |
| 2024 | $9,758 | $696,346 | $487,443 | $208,903 |
| 2023 | $9,584 | $682,693 | $477,886 | $204,807 |
| 2022 | $9,012 | $669,308 | $468,516 | $200,792 |
| 2021 | $8,816 | $656,185 | $459,330 | $196,855 |
| 2019 | $8,691 | $637,084 | $445,707 | $191,377 |
| 2018 | $8,404 | $624,600 | $436,968 | $187,632 |
| 2016 | $1,831 | $88,757 | $48,184 | $40,573 |
| 2015 | $1,778 | $87,425 | $47,461 | $39,964 |
| 2014 | $1,797 | $85,714 | $46,532 | $39,182 |
Source: Public Records
Agents Affiliated with this Home
-
-
C
Buyer's Agent in 2016
Cynthia Howard
Cynthia Howard, Broker
(562) 270-6146
6 Total Sales
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: PW15171243
APN: 7266-008-027
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.
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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