$1,450,000 Price Analysis   ♡   Long Beach, CA 90813 8 bed 7 bath 4,146 SqFt ($349/SqFt) 7,519SqFt lot. Built 1922 Listed 2023-11-11, Taxes $6,810 | Ⓧ USDA Ineligible due to price & location near Long Beach |
BACK ON THE MARKET >>>>> We are proud to present a good investment in a stong rental area of Long Beach.
The mix is one larger 960 square foot two bedroom/one bath unit, over four garages with alley access. There are six one bedroom/one bath units, with the same 531 square foot floor plan contained in one easy to maintain garden style building. With the same continuous ownership for the last 36 years you know it is worth being the next in line to benifit from this property in your portfolio. The real value here is in the upside of the rents on an undervalued building of this size.
At th proforma market rents, it will be a profitable 11.22 GRM. and 6.7 CAP. Please drive by to see the quality of the neighboring properties and single family residence. This apartment complex should prove to inviting to educated investors. The most recently leased unit #1145 proves the $1, 495 proforma rents. Current rents are based on increases due to go in effect on March 1st. If any tenants choose to move, then the $1, 495 (1/1) or $1, 795 (2/1) market values, makes the numbers even better on the va lue added.
Presented by Beach Cities Properties at
Beach Cities Properties, Inc.
Property MLS #PW23209583 from CRMLS
Heating: Yes
Lot Size Acres: 0.1726125
Lot Size Source: Assessor
Lot Size Square Feet: 7519
Parking Total: 4
Bedrooms in Unit-1: 2
Bedrooms in Unit-2: 1
Bedrooms in Unit-3: 1
Bedrooms in Unit-4: 1
Bedrooms in Unit-5: 1
Bedrooms in Unit-6: 1
Bedrooms in Unit-7: 1
Total Bathrooms in Unit-1: 1
Total Bathrooms in Unit-2: 1
Total Bathrooms in Unit-3: 1
Total Bathrooms in Unit-4: 1
Total Bathrooms in Unit-5: 1
Total Bathrooms in Unit-6: 1
Total Bathrooms in Unit-7: 1
Tenant Pays: Electricity, Gas
County: Los Angeles
Cap Rate: 4.60
Source Property Type: Residential Income
Insurance Expense: 2139.00
Area: 4 - Downtown Area, Alamitos Beach
Source Neighborhood: Alamitos Beach (AB)
Number of Separate Electric Meters: 7
Number of Separate Gas Meters: 7
Number of Separate Water Meters: 1
Parcel Number: 7273001020
Postal Code Plus 4: 3322
Professional Management Expense: 7860.00
Subdivision: Alamitos Beach (AB)
Trash Expense: 600.00
Source System Name: C2C
| Year | Assessments Building + Land Total | Tax |
|---|---|---|
| 2022 | $244,017 + $218,376 $462,393 | $6,810 |
| 2021 | $239,233 + $214,095 $453,328 | $7,203 |
| 2020 | $236,780 + $211,900 $448,680 | $7,249 |
| 2019 | $232,138 + $207,746 $439,884 | $6,548 |
| 2018 | $227,587 + $203,673 $431,260 | $6,261 |
| 2017 | $223,125 + $199,680 $422,805 | $6,194 |
| 2016 | $218,750 + $195,765 $414,515 | $5,760 |
| 2015 | $215,465 + $192,825 $408,290 | $5,548 |
| 2014 | $211,245 + $189,048 $400,293 | $5,547 |
| 2013 | $210,291 + $188,194 $398,485 | $5,389 |
| 2012 | $206,168 + $184,504 $390,672 | $5,461 |
| 2010 | $202,126 + $180,887 $383,013 | $5,196 |
| 2009 | $201,093 + $179,963 $381,056 | $5,125 |
| 2009 | $200,616 + $179,536 $380,152 | $5,125 |
| 2008 | $197,150 + $176,435 $373,585 | $4,780 |
| 2007 | $193,285 + $172,976 $366,261 | $4,628 |
$1,450,000
CRMLS
Listing removed 2024-05-30
$0
CRMLS
Relisted 2024-05-01
$1,450,000
CRMLS
Listing removed 2024-03-29
$0
CRMLS
Price Changed 2024-01-30
$1,450,000
CRMLS
Relisted 2024-01-29
$1,400,000
CRMLS
Listing removed 2024-01-09
$0
CRMLS
Listed 2023-11-11
$1,400,000
CRMLS
Sold 1988-07-18
$261,500
Public Record
Year Built: 1922
Building Features: 2
Common Walls: 2+ Common Walls
Entry Level: 1
Entry Location: Ground
Property Age: 102
Property Attached: Yes
Levels or Stories: Two
Building Total Stories: 2
Structure Type: Commercial/Residential
Year Built Source: Assessor
Water Source: Public
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The property loan eligibility may be subject to additional requirements beyond geographical location including but not limited to the condition of the property. Speak with a real estate professional to find out more about the eligibility of a specific property.