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1042 Molino Ave, Long Beach, CA 90804
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1042 Molino Ave Long Beach, CA 90804

$3,125,000 Sold Price as of 07/07/2022
  • 18 Beds
  • 17 Baths
  • 8,013 Sq.Ft.
Sold
$3,125,000 Sold Price as of 07/07/2022 Refinance Your Mortgage
Map preview of 1042 Molino Ave, Long Beach, CA 90804

Property Overview: 1042 Molino Ave Long Beach, CA has 18 bedrooms, 17 bathrooms, 8,013 living square feet and 6,495 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: 1042 Molino Ave. Built in 1987 is a 9 unit building 3 story building with 13 ground level parking spots (9 Spots are gated with 4 more covered spots on the alley). This is a great bread and butter rental property, in an area that is well desired, with room to raise rents. It has a great unit mix with Seven 2 bedroom 2 bath units, One 1 bedroom 1 bath, and One 3 bedroom 2 baths, all with great layouts . Newer construction, complete exterior paint in 2016, balconies and on-site laundry make this a great property. Separately metered for gas, and electrical, and each unit has it's own water heater, dishwashers (hard to find), and wall heaters. Master metered for water. Buyers to very property details including but not limited to square footage, permits, upgrades, zoning, etc.

Listed by Wade Tettenburn | BRE #01246595 | Palazzo Realty Inc.
Last checked: 6 minutes ago | Last updated: July 26th, 2022 | Source CRMLS | DOM: 11

Home details

Lot Sq. Ft
6,495
HOA Dues
$0/mo
Year built
1987
Garage
13 Car
Property Type:
Multi Family
Status
Sold
MLS#
PW22074536
City
Long Beach
County
Los Angeles
Time on Site
751 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 9
  • Total # of Buildings: 1
  • # of Leased Units: 9
  • # of Electric Meters: 9
  • # of Gas Meters: 9
  • # of Water Meters: 1
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 2
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,795
  • Total Rent: $1,495
  • Pro Forma/Market Rent: $1,895
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 3
  • # of Baths: 2
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,895
  • Total Rent: $1,895
  • Pro Forma/Market Rent: $2,295
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 2
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,695
  • Total Rent: $1,695
  • Pro Forma/Market Rent: $1,795
Unit Breakdown 4
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 2
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,465
  • Total Rent: $1,465
  • Pro Forma/Market Rent: $1,795
Unit Breakdown 5
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 2
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,300
  • Total Rent: $1,300
  • Pro Forma/Market Rent: $1,795
Unit Breakdown 6
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 2
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,695
  • Total Rent: $1,695
  • Pro Forma/Market Rent: $1,795
Unit Breakdown 7
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,495
  • Total Rent: $1,495
  • Pro Forma/Market Rent: $1,595
Unit Breakdown 8
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 2
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,625
  • Total Rent: $1,625
  • Pro Forma/Market Rent: $1,795
Unit Breakdown 9
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 2
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,795
  • Total Rent: $1,795
  • Pro Forma/Market Rent: $1,895
Multi-Family Income/Expense Information
Property Income and Analysis
  • Gross Rent Multiplier: --
  • Gross Scheduled Income: $177,120
  • Net Operating Income: $141,000
  • Gross Operating Income: --
  • Laundry Income: $80
  • Laundry Own/Lease: Lease
Annual Expense Breakdown
  • Total Operating Expense: $36,120
  • Trash: $0
  • Insurance: $0
  • Professional Management: $0
  • Water/Sewer: $0

Property Details for 1042 Molino Ave

Interior Features
Laundry Information
  • Has Laundry
  • Common Area
Interior Features
  • Levels: Three Or More
Exterior Features
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Garage Spaces: 13
  • # of Parking Spaces: 13
  • Has Parking
  • Parking Features: Assigned, Auto Driveway Gate, Community Structure
Lot Information
  • Lot Features: 0-1 Unit/Acre
  • Lot Size Source: Assessor
  • Common Interest: None
Property Information
  • Common Walls: 2+ Common Walls
  • Total # of Units: 9
  • Parcel Number: 7262002017
  • 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: Circle (CA)
  • Directions: North of 10th and West of Temple
  • Road Frontage Type: City Street
  • Road Surface Type: Paved
Neighborhood Information
  • Community Features: Sidewalks, Street Lights
View more facts & features

Local Long Beach Agent

Sale History for 1042 Molino Ave

Last sold for $3,125,000 on July 7th, 2022

  • July, 2022

  • Jul 7, 2022

    Date

    Sold

    CRMLS: PW22074536

    $3,125,000

    Price

  • Apr 21, 2022

    Date

    Active

    CRMLS: PW22074536

    $3,275,000

    Price

  • March, 2007

  • Mar 30, 2007

    Date

    Sold (Public Records)

    Public Records

    --

    Price

  • May, 2000

  • May 24, 2000

    Date

    Sold (Public Records)

    Public Records

    $520,000

    Price

Show More

Tax History for 1042 Molino Ave

Assessed Value (2020): $843,701
Year Land Value Improved Value Assessed Value
2020 $225,534 $618,167 $843,701

Home Value Compared to the Market

This property vs the competition

1042 Molino Ave sold on July 7, 2022 for 309.38% 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 $408.71 per/sqft which puts the price per square foot 35.33% lower than the current median sale per square foot for the city of Long Beach.

About 1042 Molino Ave

Detailed summary of property

1042 Molino Ave is a multi family that recently sold in Long Beach, CA 90804. This multi family property offered 18 bedrooms, 17 bathrooms, roughly 8,013 living square feet, and sits on an approximately 6,495 square foot lot. 1042 Molino Ave was first listed on ArdentRealEstateGroup.com on April 21, 2022. The homeowner sold the property for $3,125,000. 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 309.38% higher than the current median priced home. Local homes that are currently for sale include 208 Granada Ave, 5121 E Ocean Blvd and 1217 Cedar Ave. While the average home in Long Beach, CA is selling in 51 days, 1042 Molino Ave has a days on market of 11 days. There are currently 639 homes for sale in the Long Beach real estate market and 354 of them are single family homes while 271 of them are condos and 14 are townhomes. For more information on this home for sale at 1042 Molino Ave Long Beach, CA 90804 contact Ardent Real Estate Group and we will put you in touch with one of our Long Beach agents.

Public Facts for 1042 Molino Ave

Public county record property details
Beds
17
Baths
17
Year built
1987
Sq. Ft.
8,013
Lot Size
6,494
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
13
APN
7262-002-017

The source for these homes facts are from public records.

90804 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$509,000
Median List Price/Sq.Ft.
$610
Median Sold Price
$550,000
Median Sold Price/Sq.Ft.
$667
Total Inventory
54
Median Sale to List Price %
104.77%
Avg Days on Market
23
Loan Type
Conventional (57.14%), FHA (0%), VA (14.29%), Cash (28.57%), Other (0%)

Thinking of Selling?

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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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