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1017 E Rhea St, Long Beach, CA 90806
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1017 E Rhea St Long Beach, CA 90806

$795,000 Sold Price as of 02/25/2022
  • 5 Beds
  • 4 Baths
  • 1,558 Sq.Ft.
Sold
$795,000 Sold Price as of 02/25/2022 Refinance Your Mortgage
Map preview of 1017 E Rhea St, Long Beach, CA 90806

Property Overview: 1017 E Rhea St Long Beach, CA has 5 bedrooms, 4 bathrooms, 1,558 living square feet and 6,017 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: Back on the Market. Buyer did not perform. This triplex consists of a front house with 3 bedrooms, 2 bathrooms, a detached 2-car garage, and a separate building with two one bed, one bath units in the back. Two-car garage could be a possible ADU (buyer to do their own due diligence on the possibility of ADU). The front house bathrooms and kitchen were recently upgraded. Each unit enjoys a private yard and their own private access. The kitchen of 1021 was also upgraded about 2 years ago. The roof was redone in 2011 with 30 year shingles. All tenants are long term, are current on rent, and have never missed rent or paid late. A long driveway provides additional parking for several cars. Close to schools including LBCC, restaurants, transportation, and major employers. Great opportunity for an investor to add to their portfolio with a solid investment, or for a buyer that would like to live in one unit and use the rental income to help with the mortgage.

Listed by Gustavo Arias | BRE #01889399 | First Team Real Estate
Last checked: 6 minutes ago | Last updated: March 23rd, 2022 | Source CRMLS | DOM: 91

Home details

Lot Sq. Ft
6,017
HOA Dues
$0/mo
Year built
1953
Garage
1 Car
Property Type:
Multi Family
Status
Sold
MLS#
PW21231654
City
Long Beach
County
Los Angeles
Time on Site
1066 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 3
  • Total # of Buildings: 2
  • # of Leased Units: 3
  • # of Electric Meters: 3
  • # of Gas Meters: 3
  • # of Water Meters: 1
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 3
  • # of Baths: 2
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,725
  • Total Rent: $1,725
  • Pro Forma/Market Rent: $2,316
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $975
  • Total Rent: $975
  • Pro Forma/Market Rent: $1,364
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $925
  • Total Rent: $925
  • Pro Forma/Market Rent: $1,364
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 4.08%
  • Gross Rent Multiplier: --
  • Gross Scheduled Income: $43,500
  • Net Operating Income: $33,680
  • Gross Operating Income: --
Annual Expense Breakdown
  • Total Operating Expense: $9,820
  • Trash: $0
  • Gardener: $480
  • Insurance: $1,100
  • Maintenance: $2,000
  • Water/Sewer: $1,176

Property Details for 1017 E Rhea St

Interior Features
Cooling Information
  • No Cooling
  • None
Heating Information
  • Has Heating
  • Wall Furnace
Laundry Information
  • Has Laundry
  • See Remarks
Fireplace Information
  • No Fireplace
  • None
Room Information
  • Flooring: Tile
  • All Bedrooms Down
Kitchen Information
  • Has Appliances
  • Gas Range
Interior Features
  • Ceiling Fan(s), Unfurnished
  • Levels: One
Exterior Features
Exterior Information
  • Roof: Mixed
  • Has Fence
  • Fair Condition
  • No Spa
  • Spa Features: None
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Garage Spaces: 1
  • # of Parking Spaces: 1
  • Has Parking
  • Parking Features: Driveway, Garage
Lot Information
  • Lot Features: 2-5 Units/Acre
  • Lot Size Source: Assessor
  • Common Interest: None
Property Information
  • No View
  • View: None
  • Common Walls: 1 Common Wall
  • Total # of Units: 3
  • Parcel Number: 7210020017
  • Year Built Source: Assessor
  • Architectural Style: Colonial, See Remarks
  • Foundation Details: Brick/Mortar
  • Property is Attached
  • Accessibility Features: See Remarks
  • Offered With Property: Stoves
  • Property Condition: Repairs Cosmetic
Homeowners Association, Utilities, Taxes / Assessments
Homeowners Association
  • Is Not Part of Association
Utilities Information
  • Sewer: Public Sewer
  • Water Source: Public
  • Utilities: Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
Location / Neighborhood
Location Information
  • Subdivision Name: Poly High (PH)
  • Directions: PCH to MLK MLK North right on Rhea Check GPS
Neighborhood Information
  • Community Features: Suburban
View more facts & features

Local Long Beach Agent

Sale History for 1017 E Rhea St

Last sold for $795,000 on February 25th, 2022

  • January, 2022

  • Jan 6, 2022

    Date

    Active Under Contract

    CRMLS: PW21231734

    $825,000

    Price

  • Listing provided courtesy of CRMLS

  • January, 2022

  • Jan 6, 2022

    Date

    Active Under Contract

    CRMLS: PW21231654

    $825,000

    Price

  • Dec 21, 2021

    Date

    Active

    CRMLS: PW21231654

    $825,000

    Price

  • Oct 19, 2021

    Date

    Active

    CRMLS: PW21231654

    $825,000

    Price

  • September, 2021

  • Sep 4, 2021

    Date

    Price Change

    CRMLS: PW21170584

    $845,000

    Price

  • Aug 6, 2021

    Date

    Active

    CRMLS: PW21170584

    $865,000

    Price

  • Listing provided courtesy of CRMLS

    This triplex consist of front house with attached garage 3 bed 2 bath and, two one bedroom one bath unit is the back. The roof was redone 2011 with 30y years lasting materials. The front house bathrooms had been upgraded. The kitchen of 1021 unit was upgraded about 2 years ago. All units enjoy provate patios and independent access. All tenants are paying rent regularly. A long car path provide additional parking for several cars. The new owner have upside opportunity current CAP rate 3.8% proforma CAP rate 5.6%. Very close to LBUSD schools, restaurants, transportation and major employers. Great opportunity for an investor to increase its portfolio with a solid property and or for a buyer that want to live in one unit rent the other ones to get help with the mortgage payment.

  • September, 2021

  • Sep 4, 2021

    Date

    Price Change

    CRMLS: PW21173372

    $845,000

    Price

  • Aug 6, 2021

    Date

    Active

    CRMLS: PW21173372

    $865,000

    Price

  • Listing provided courtesy of CRMLS

    This triplex consist of front house with attached garage 3 bed 2 bath and, two one bedroom one bath unit is the back. The roof was redone 2011 with 30y years lasting materials. The front house bathrooms had been upgraded. Each unit enjoy private patio and their own private access. The kitchen of 1021 unit was upgraded about 2 years ago. All tenants are paying rent regularly. A long car path provide additional parking for several cars. The new owner have upside opportunity current CAP rate 3.8% proforma CAP rate 5.6%. Very close to LBUSD schools, restaurants, transportation and major employers. Great opportunity for an investor to increase its portfolio with a solid property and or for a buyer that want to live in one unit rent the other ones to get help with the mortgage payment.

  • November, 2020

  • Nov 19, 2020

    Date

    Sold (Public Records)

    Public Records

    --

    Price

  • March, 2017

  • Mar 13, 2017

    Date

    Sold (Public Records)

    Public Records

    --

    Price

Show More

Tax History for 1017 E Rhea St

Assessed Value (2020): $466,286
Year Land Value Improved Value Assessed Value
2020 $224,176 $242,110 $466,286

Home Value Compared to the Market

This property vs the competition

1017 E Rhea St sold on February 25, 2022 for 0.73% higher than the current median sold price for the city of Long Beach which is $819,000. The median sold price per/sqft for Long Beach is $628 and this home is sold at $529.53 per/sqft which puts the price per square foot 15.68% lower than the current median sale per square foot for the city of Long Beach.

About 1017 E Rhea St

Detailed summary of property

1017 E Rhea St is a multi family that recently sold in Long Beach, CA 90806. This multi family property offered 5 bedrooms, 4 bathrooms, roughly 1,558 living square feet, and sits on an approximately 6,017 square foot lot. 1017 E Rhea St was first listed on ArdentRealEstateGroup.com on October 19, 2021. The homeowner sold the property for $795,000. Home in Long Beach are selling for a median price of $819,000 and a median price per square foot of $628. Based on Ardent Real Estate Group's Long Beach Market Data, this home is sold 0.73% higher than the current median priced home. Local homes that are currently for sale include 702 Cedar Ave, 3409 Walnut Ave and 3409 Walnut Ave. While the average home in Long Beach, CA is selling in 62 days, 1017 E Rhea St has a days on market of 91 days. There are currently 778 homes for sale in the Long Beach real estate market and 416 of them are single family homes while 337 of them are condos and 23 are townhomes. For more information on this home for sale at 1017 E Rhea St Long Beach, CA 90806 contact Ardent Real Estate Group and we will put you in touch with one of our Long Beach agents.

Public Facts for 1017 E Rhea St

Public county record property details
Beds
4
Baths
3
Year built
1953
Sq. Ft.
1,558
Lot Size
6,016
Stories
--
Type
Triplex (3 Units, Any Combination)
Pool
No
Spa
No
County
Los Angeles
Lot#
15
APN
7210-020-017

The source for these homes facts are from public records.

90806 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$749,900
Median List Price/Sq.Ft.
$531
Median Sold Price
$920,000
Median Sold Price/Sq.Ft.
$534
Total Inventory
20
Median Sale to List Price %
100%
Avg Days on Market
36
Loan Type
Conventional (100%), FHA (0%), VA (0%), Cash (0%), Other (0%)

Thinking of Selling?

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(714) 706-1823

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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.

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