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1031 E 4Th St Long Beach, CA 90802

$1,850,000 Sold Price as of 04/22/2022

5 Beds
3 Baths
5,750 Sq.Ft.

Sold

$1,850,000 Sold Price as of 04/22/2022 Refinance Your Mortgage

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Map preview of 1031 E 4Th St, Long Beach, CA 90802

Property Overview: 1031 E 4Th St Long Beach, CA has 5 bedrooms, 3 bathrooms, 5,750 living square feet and 7,510 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: The following mixed-use opportunity consists of two separate structures and approximately 5,750 square feet of gross leasable space. The front building is just under 5,000 square feet containing one 1 bedroom 1 bath unit and one 2 bedroom 1 bath unit above three retail/commercial units. The second freestanding structure is a +/- 800 square foot two bedroom house. All tenants are Month to Month (MTM) and are paying conservative or below market rents. The MTM tenancy gives an owner user or an investor the ability to either occupy or reposition the property at market rents. This is a rare opportunity to purchase a mixed-use asset on just over a 7,500 square foot lot just outside of the East Village Arts District in Long Beach, CA. HIGHLIGHTS: LONG TERM tenants, low rents. Near 100% collection since COVID. LOCATED and on one of the best retail corridors in the city of Long Beach. WALK SCORE Walker's Paradise (93). NEW general plan allows for redevlopment up to 7 stories in the future. LONG BEACH is the up and coming coastal city in Los Angeles county. Hundreds of millions of dollars are pouring into this city and tons of high density mixed use development in planning or developing stages. MIXED-USE allows to diversify risk with both retail and residential tenants

Listed by Ryan Sharpe | BRE #01940376 | Kidder Mathews of California, Inc

Last checked: 29 seconds ago | Last updated: May 31st, 2022 | Source CRMLS | DOM: 86

Home details

Lot Sq. Ft: 7,510
HOA Dues: $0/mo
Year built: 1937
Garage: --
Property Type:: Multi Family

Status: Sold
MLS#: OC21222156
City: Long Beach
County: Los Angeles
Time on Site: 934 days

Multi-Family Unit Breakdown

Unit Mix Summary

Total # of Units: 6
Total # of Buildings: 2
# of Electric Meters: 6
# of Gas Meters: 5
# of Water Meters: 1

Unit Breakdown 1

# of Units: 1
# of Beds: 1
# of Baths: 1
Garage Spaces: 0
Garaged Attached? No
Furnishing: Unfurnished
Actual Rent: $945
Total Rent: $945
Pro Forma/Market Rent: $1,500

Unit Breakdown 2

# of Units: 1
# of Beds: 2
# of Baths: 1
Garage Spaces: 0
Garaged Attached? No
Furnishing: Unfurnished
Actual Rent: $1,800
Total Rent: $1,800
Pro Forma/Market Rent: $2,200

Unit Breakdown 3

# of Units: 1
# of Beds: 2
# of Baths: 1
Garage Spaces: 0
Garaged Attached? No
Furnishing: Unfurnished
Actual Rent: $2,200
Total Rent: $2,200
Pro Forma/Market Rent: $2,500

Unit Breakdown 4

# of Units: 1
# of Beds: 0
# of Baths: 0
Garage Spaces: 0
Garaged Attached? No
Furnishing: Unfurnished
Actual Rent: $950
Total Rent: $950
Pro Forma/Market Rent: $2,200

Unit Breakdown 5

# of Units: 1
# of Beds: 0
# of Baths: 0
Garage Spaces: 0
Garaged Attached? No
Furnishing: Unfurnished
Actual Rent: $800
Total Rent: $800
Pro Forma/Market Rent: $2,500

Unit Breakdown 6

# of Units: 1
# of Beds: 0
# of Baths: 0
Garage Spaces: 0
Garaged Attached? No
Furnishing: Unfurnished
Actual Rent: $1,600
Total Rent: $1,600
Pro Forma/Market Rent: $2,700

Multi-Family Income/Expense Information

Property Income and Analysis

Cap Rate: 3.32%
Gross Rent Multiplier: --
Gross Scheduled Income: $99,540
Net Operating Income: $62,664
Gross Operating Income: --
Vacancy Allowance: $2,986

Annual Expense Breakdown

Total Operating Expense: $33,890
Electric: $408
Gas/Fuel: $407
Licenses: $200
New Taxes: $21,133
Trash: $407
Insurance: $3,035
Maintenance: $2,719
Professional Management: $0
Water/Sewer: $407
Other Expenses: $197
Other Expense Description: Assess.

Property Details for 1031 E 4Th St

Interior Features

Laundry Information

Has Laundry
Community

Exterior Features

No Pool
Pool Features: None

Lot Details / Garage and Parking

Parking/Garage Information

# of Parking Spaces: 6

Lot Information

Lot Features: Level with Street
Lot Size Source: Public Records
Common Interest: Community Apartment

Property Information

Common Walls: 2+ Common Walls
Total # of Units: 6
Parcel Number: 7266009014
Year Built Source: Public Records
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 4th St

Neighborhood Information

Community Features: Curbs

View more facts & features

Local Long Beach Agent

Sale History for 1031 E 4Th St

Last sold for $1,850,000 on April 22nd, 2022

October, 2021
Oct 26, 2021

Date

Active

CRMLS: OC21222156

$1,888,000

Price
August, 2020
Aug 21, 2020

Date

Expired

CRMLS: PV20030409

$1,979,000

Price
Aug 9, 2020

Date

Price Change

CRMLS: PV20030409

$1,979,000

Price
Apr 14, 2020

Date

Active

CRMLS: PV20030409

$2,200,000

Price
Apr 13, 2020

Date

Hold

CRMLS: PV20030409

$2,200,000

Price
Feb 11, 2020

Date

Active

CRMLS: PV20030409

$2,200,000

Price
Listing provided courtesy of CRMLS

This is a Residential/Commercial Income property and part of the NEW Long Beach Development plan area. Great potential to build additional units and expand (check with city planning department). Close proximity to Shoreline Shops and Beach. This property sits on a 7510 square foot lot. Plenty of parking spaces accessible for all units adjacent to alley, a rare accommodation. Main building consist of one bedroom and 2 bedroom apartment upstairs and 3 retail/stores/shops downstairs. Garage space is 1800 square feet with additional 6 spaces in front of garages. Separate from Main building on back side of of property stands 2 bedroom one bath home with private yard. These notices are the rules of entry per CA regulations: https://tinyurl.com/VistaSIRRulesofEntry

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August, 2020
Aug 11, 2020

Date

Expired

CRMLS: PV20030315

$1,979,000

Price
Aug 9, 2020

Date

Price Change

CRMLS: PV20030315

$1,979,000

Price
Apr 14, 2020

Date

Active

CRMLS: PV20030315

$2,200,000

Price
Apr 13, 2020

Date

Hold

CRMLS: PV20030315

$2,200,000

Price
Feb 11, 2020

Date

Active

CRMLS: PV20030315

$2,200,000

Price
Listing provided courtesy of CRMLS

This is a Residential/Commercial Income property and part of the NEW Long Beach Development plan area. Great potential to build additional units and expand (check with city planning department). Close proximity to Shoreline Shops and Beach. This property sits on a 7510 square foot lot. Plenty of parking spaces accessible for all units adjacent to alley, a rare accommodation. Main building consist of one bedroom and 2 bedroom apartment upstairs and 3 retail/stores/shops downstairs. Garage space is 1800 square feet with additional 6 spaces in front of garages. Separate from Main building on back side of of property stands 2 bedroom one bath home with private yard. These notices are the rules of entry per CA regulations: https://tinyurl.com/VistaSIRRulesofEntry

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September, 2001
Sep 13, 2001

Date

Sold (Public Records)

Public Records

$20,000

Price

Tax History for 1031 E 4Th St

Assessed Value (2020): $246,100

Year	Land Value	Improved Value	Assessed Value
2020	$165,061	$81,039	$246,100

Home Value Compared to the Market

This property vs the competition

1031 E 4Th St sold on April 22, 2022 for 136% 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 $328.35 per/sqft which puts the price per square foot 48.05% lower than the current median sale per square foot for the city of Long Beach.

About 1031 E 4Th St

Detailed summary of property

1031 E 4Th St is a multi family that recently sold in Long Beach, CA 90802. This multi family property offered 5 bedrooms, 3 bathrooms, roughly 5,750 living square feet, and sits on an approximately 7,510 square foot lot. 1031 E 4Th St was first listed on ArdentRealEstateGroup.com on October 26, 2021. The homeowner sold the property for $1,850,000. 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 136% higher than the current median priced home. Local homes that are currently for sale include 1526 Cedar Ave, 1825 Cherry Ave and 522 E Rhea St. While the average home in Long Beach, CA is selling in 51 days, 1031 E 4Th St has a days on market of 86 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 1031 E 4Th 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 1031 E 4Th St

Public county record property details

Beds: 5
Baths: 3
Year built: 1937
Sq. Ft.: 4,318
Lot Size: 7,510
Stories: 1

Type: Commercial/Office/Residential (Mixed Use)
Pool: No
Spa: No
County: Los Angeles
Lot#: 24
APN: 7266-009-014

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%)

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.