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1010 E 2nd St Long Beach, CA 90802

$2,100,000 Sold Price as of 09/17/2019

0 Beds
8 Baths
4,160 Sq.Ft.

Sold

$2,100,000 Sold Price as of 09/17/2019 Refinance Your Mortgage

Map preview of 1010 E 2nd St, Long Beach, CA 90802

Property Overview: 1010 E 2nd St Long Beach, CA has -- bedrooms, 8 bathrooms, 4,160 living square feet and 4,655 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: 1010 E 2nd Street is located in the prime Alamitos Beach area. This is a 1920's building with charming built-ins and finishes. It consists of eight bright and airy studio units with light upgrades to the kitchens, baths and fixtures. There is storage space for tenants to lease, onsite laundry income (laundry machines are seller owned), and the building is separately metered for gas and electric. Investors have the potential to continue seller improvements and increase rents up to approximately 10%. Within close proximity to the subject property are the Long Beach Museum of Art, Bixby Park, Broadway Corridor and 4th Street/Retro Row.

Listed by Robert Stepp | BRE #01456379 | Keller Williams Pacific Estate

Last checked: 11 minutes ago | Last updated: March 22nd, 2022 | Source CRMLS | DOM: 76

Home details

Lot Sq. Ft: 4,655
HOA Dues: $0/mo
Year built: 1923
Garage: --
Property Type:: Multi Family

Status: Sold
MLS#: PW19129903
City: Long Beach
County: Los Angeles
Time on Site: 1396 days

Multi-Family Unit Breakdown

Unit Mix Summary

Total # of Units: 8
Total # of Buildings: 2
# of Electric Meters: 8
# of Gas Meters: 8
# of Water Meters: 1

Unit Breakdown 1

# of Units: 8
# of Beds: 0
# of Baths: 1
Garage Spaces: 0
Garaged Attached? No
Furnishing: Unfurnished
Actual Rent: $1,475
Total Rent: $11,800
Pro Forma/Market Rent: $1,650

Multi-Family Income/Expense Information

Property Income and Analysis

Gross Rent Multiplier: --
Gross Scheduled Income: $149,700
Net Operating Income: $96,454
Gross Operating Income: --

Annual Expense Breakdown

Total Operating Expense: $45,761
Electric: $1,080
Gas/Fuel: $1,080
Licenses: $500
New Taxes: $26,488
Trash: $1,080
Gardener: $1,200
Insurance: $1,664
Maintenance: $3,600
Professional Management: $5,689
Water/Sewer: $1,080
Other Expenses: $1,800
Other Expense Description: Reserves

Property Details for 1010 E 2nd St

Interior Features

Laundry Information

Has Laundry
Common Area

Exterior Features

No Pool
Pool Features: None

Lot Details / Garage and Parking

Lot Information

Lot Features: 6-10 Units/Acre
Lot Size Source: Assessor

Property Information

Common Walls: 2+ Common Walls
Total # of Units: 8
Parcel Number: 7265002003
Year Built Source: Assessor
Property is Attached

Homeowners Association, Utilities, Taxes / Assessments

Utilities Information

Sewer: Public Sewer
Water Source: Public

Location / Neighborhood

Location Information

Subdivision Name: Alamitos Beach (AB)
Directions: Alamitos Ave & E 2nd St

Neighborhood Information

Community Features: Curbs

View more facts & features

Local Long Beach Agent

Sale History for 1010 E 2nd St

Last sold for $2,100,000 on September 17th, 2019

September, 2019
Sep 17, 2019

Date

Sold

CRMLS: PW19129903

$2,100,000

Price
Aug 22, 2019

Date

Pending

CRMLS: PW19129903

$2,100,000

Price
Jun 5, 2019

Date

Active

CRMLS: PW19129903

$2,100,000

Price
September, 2019
Sep 17, 2019

Date

Sold (Public Records)

Public Records

$2,100,000

Price
March, 2019
Mar 14, 2019

Date

Canceled

CRMLS: 19427088

$2,300,000

Price
Mar 6, 2019

Date

Price Change

CRMLS: 19427088

$2,300,000

Price
Jan 24, 2019

Date

Active

CRMLS: 19427088

$2,400,000

Price
Listing provided courtesy of CRMLS

The subject property is a fully renovated, non-rent controlled, eight unit complex built in 1923 and located in the Alamitos Beach submarket of Long Beach, two blocks from the ocean. Ideally situated in Alamitos Beach, all units have been renovated and are situated within a pedestrian friendly neighborhood and is just a short walk from the beach, Bixby Park, Bluff Park, Retro Row, and the booming East Village Arts District in Downtown Long Beach. The property boasts a mix of all studios. The prime location allows occupants to enjoy all of Alamitos Beach's world famous entertainment, dining and culture, within the comfort of a quiet and luxurious apartment. The improvements are built on a 4,654 square foot lot with a total rentable square footage of 4,160.

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December, 2018
Dec 28, 2018

Date

Expired

CRMLS: 18359590

$2,299,000

Price
Oct 18, 2018

Date

Withdrawn

CRMLS: 18359590

$2,299,000

Price
Jun 28, 2018

Date

Active

CRMLS: 18359590

$2,299,000

Price
Listing provided courtesy of CRMLS
January, 2018
Jan 30, 2018

Date

Sold (Public Records)

Public Records

$1,575,000

Price

Tax History for 1010 E 2nd St

Assessed Value (2020): $2,100,000

Year	Land Value	Improved Value	Assessed Value
2020	$1,400,000	$700,000	$2,100,000

Home Value Compared to the Market

This property vs the competition

1010 E 2nd St sold on September 17, 2019 for 162.5% higher than the current median sold price for the city of Long Beach which is $800,000. The median sold price per/sqft for Long Beach is $632 and this home is sold at $504.81 per/sqft which puts the price per square foot 20.13% lower than the current median sale per square foot for the city of Long Beach.

About 1010 E 2nd St

Detailed summary of property

1010 E 2nd St is a multi family that recently sold in Long Beach, CA 90802. This multi family property offered -- bedrooms, 8 bathrooms, roughly 4,160 living square feet, and sits on an approximately 4,655 square foot lot. 1010 E 2nd St was first listed on ArdentRealEstateGroup.com on July 20, 2020. The homeowner sold the property for $2,100,000. Home in Long Beach are selling for a median price of $800,000 and a median price per square foot of $632. Based on Ardent Real Estate Group's Long Beach Market Data, this home is sold 162.5% higher than the current median priced home. Local homes that are currently for sale include 1148 Stanley Ave, 1409 Magnolia Ave and 1512 N Stanton Pl. While the average home in Long Beach, CA is selling in 51 days, 1010 E 2nd St has a days on market of 76 days. There are currently 643 homes for sale in the Long Beach real estate market and 358 of them are single family homes while 270 of them are condos and 15 are townhomes. For more information on this home for sale at 1010 E 2nd St Long Beach, CA 90802 contact Ardent Real Estate Group and we will put you in touch with one of our Long Beach agents.

Public Facts for 1010 E 2nd St

Public county record property details

Beds: 8
Baths: 8
Year built: 1923
Sq. Ft.: 4,160
Lot Size: 4,654
Stories: --

Type: Apartment House (5+ Units)
Pool: No
Spa: No
County: Los Angeles
Lot#: 2
APN: 7265-002-003

The source for these homes facts are from public records.

90802 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends

Median List Price

$530,000

Median List Price/Sq.Ft.

$630

Median Sold Price

$540,000

Median Sold Price/Sq.Ft.

$627

Total Inventory

130

Median Sale to List Price %

102.86%

Avg Days on Market

Loan Type

Conventional (51.52%), FHA (3.03%), VA (3.03%), Cash (24.24%), Other (15.15%)

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Based on information from California Regional Multiple Listing Service, Inc. as of 2019. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.