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1069 Martin Luther King Jr Ave, Long Beach, CA 90813
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1069 Martin Luther King Jr Ave Long Beach, CA 90813

$2,375,000 Sold Price as of 07/23/2021
  • 16 Beds
  • 16 Baths
  • 7,096 Sq.Ft.
Sold
$2,375,000 Sold Price as of 07/23/2021 Refinance Your Mortgage
Map preview of 1069 Martin Luther King Jr Ave, Long Beach, CA 90813

Property Overview: 1069 Martin Luther King Jr Ave Long Beach, CA has 16 bedrooms, 16 bathrooms, 7,096 living square feet and 6,526 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: Priced to sell! About 1 mile away from the beautiful Alamitos beach! Rare rental income opportunity with great monthly cash flow. This 7,096 square foot condo features 16 beds and 16 bathrooms with 8 (2beds/2baths) units. All 8 units offers attractive 2beds & 2baths with a large patio. Seller has recently put $220K into remodeling of all units. It offers security fence, building owned laundry machines(2 washers/2 dryers), and fenced parking garage. Close to Downtown Long Beach, which has seen major redevelopment in recent years. Nearby schools include Lincoln Elementary School, True Social Justice Academy and Clear Passage Educational Center. The closest grocery stores are La Bodega Market, Amigo's Market and K H Market. It is near Peace Park, MacArthur Park and McBride Park with a fantastic 92 walking score. Buyer to Verify all information provided.

Listed by Chang Liu | BRE #02101725 | West Shores Realty, Inc.
Last checked: 12 minutes ago | Last updated: March 22nd, 2022 | Source CRMLS | DOM: 21

Home details

Lot Sq. Ft
6,526
HOA Dues
$0/mo
Year built
1987
Garage
8 Car
Property Type:
Multi Family
Status
Sold
MLS#
SB21087723
City
Long Beach
County
Los Angeles
Time on Site
1116 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 8
  • Total # of Buildings: 1
  • # of Electric Meters: 8
  • # of Gas Meters: 8
  • # of Water Meters: 1
Unit Breakdown 1
  • # of Units: 3
  • # of Beds: 2
  • # of Baths: 2
  • Garage Spaces: 3
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,500
  • Total Rent: $4,500
  • Pro Forma/Market Rent: $1,750
Unit Breakdown 2
  • # of Units: 2
  • # of Beds: 2
  • # of Baths: 2
  • Garage Spaces: 2
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,600
  • Total Rent: $3,200
  • Pro Forma/Market Rent: $1,750
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 2
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,653
  • Total Rent: $1,653
  • Pro Forma/Market Rent: $1,750
Unit Breakdown 4
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 2
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,400
  • Total Rent: $1,400
  • Pro Forma/Market Rent: $1,750
Unit Breakdown 5
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 2
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Total Rent: $0
  • Pro Forma/Market Rent: $1,850
Multi-Family Income/Expense Information
Property Income and Analysis
  • Gross Rent Multiplier: --
  • Gross Scheduled Income: $140,846
  • Net Operating Income: $110,028
  • Gross Operating Income: --
Annual Expense Breakdown
  • Total Operating Expense: $30,817
  • Electric: $1,438
  • Gas/Fuel: $0
  • New Taxes: $14,600
  • Trash: $0
  • Insurance: $2,400
  • Professional Management: $8,083
  • Water/Sewer: $8,949

Virtual Tour

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Property Details for 1069 Martin Luther King Jr Ave

Interior Features
Heating Information
  • Has Heating
  • Wall Furnace
Laundry Information
  • Has Laundry
  • Common Area
Fireplace Information
  • No Fireplace
  • None
Interior Features
  • Levels: Two
Exterior Features
Exterior Information
  • Has Fence
  • Good Condition
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Garage Spaces: 8
  • # of Parking Spaces: 8
  • Has Parking
  • Parking Features: Garage
Lot Information
  • Lot Features: 36-40 Units/Acre
  • Lot Size Source: Assessor
  • Common Interest: None
Property Information
  • Has View
  • View: Neighborhood
  • Common Walls: 2+ Common Walls
  • Total # of Units: 8
  • Parcel Number: 7274010035
  • 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: N/A
Neighborhood Information
  • Community Features: Park, Urban
View more facts & features

Local Long Beach Agent

Sale History for 1069 Martin Luther King Jr Ave

Last sold for $2,375,000 on July 23rd, 2021

  • July, 2021

  • Jul 24, 2021

    Date

    Sold

    CRMLS: SB21081932

    $2,375,000

    Price

  • Jul 19, 2021

    Date

    Pending

    CRMLS: SB21081932

    $2,375,000

    Price

  • May 20, 2021

    Date

    Active Under Contract

    CRMLS: SB21081932

    $2,375,000

    Price

  • May 10, 2021

    Date

    Price Change

    CRMLS: SB21081932

    $2,375,000

    Price

  • Apr 20, 2021

    Date

    Active

    CRMLS: SB21081932

    $2,559,000

    Price

  • Listing provided courtesy of CRMLS

    About 1 mile away from the beautiful Alamitos beach! Rare rental income opportunity with great monthly cash flow. This 7,096 square foot condo features 16 beds and 16 bathrooms with 8 (2beds/2baths) units. All 8 units offers attractive 2beds & 2baths with a large patio. Seller has recently put $220K into remodeling of all units with brand new kitchen and bathroom. It offers security fence, building owned laundry machines(2 washers/2 dryers), and fenced parking garage. Close to Downtown Long Beach, which has seen major redevelopment in recent years. Nearby schools include Lincoln Elementary School, True Social Justice Academy and Clear Passage Educational Center. The closest grocery stores are La Bodega Market, Amigo's Market and K H Market.Nearby restaurants include Chema's Place, Roma Pizza and New Pho. It is near Peace Park, MacArthur Park and McBride Park. Buyer to Verify all information provided.

  • July, 2021

  • Jul 24, 2021

    Date

    Sold

    CRMLS: SB21087723

    $2,375,000

    Price

  • Jul 19, 2021

    Date

    Pending

    CRMLS: SB21087723

    $2,375,000

    Price

  • May 20, 2021

    Date

    Active Under Contract

    CRMLS: SB21087723

    $2,375,000

    Price

  • May 10, 2021

    Date

    Price Change

    CRMLS: SB21087723

    $2,375,000

    Price

  • Apr 26, 2021

    Date

    Active

    CRMLS: SB21087723

    $2,559,000

    Price

  • May, 2013

  • May 14, 2013

    Date

    Sold (Public Records)

    Public Records

    $1,150,000

    Price

  • October, 2005

  • Oct 3, 2005

    Date

    Sold (Public Records)

    Public Records

    --

    Price

Show More

Tax History for 1069 Martin Luther King Jr Ave

Assessed Value (2020): $1,294,876
Year Land Value Improved Value Assessed Value
2020 $900,785 $394,091 $1,294,876

Home Value Compared to the Market

This property vs the competition

1069 Martin Luther King Jr Ave sold on July 23, 2021 for 166.26% higher than the current median sold price for the city of Long Beach which is $892,000. The median sold price per/sqft for Long Beach is $659 and this home is sold at $334.7 per/sqft which puts the price per square foot 49.21% lower than the current median sale per square foot for the city of Long Beach.

About 1069 Martin Luther King Jr Ave

Detailed summary of property

1069 Martin Luther King Jr Ave is a multi family that recently sold in Long Beach, CA 90813. This multi family property offered 16 bedrooms, 16 bathrooms, roughly 7,096 living square feet, and sits on an approximately 6,526 square foot lot. 1069 Martin Luther King Jr Ave was first listed on ArdentRealEstateGroup.com on May 13, 2021. The homeowner sold the property for $2,375,000. Home in Long Beach are selling for a median price of $892,000 and a median price per square foot of $659. Based on Ardent Real Estate Group's Long Beach Market Data, this home is sold 166.26% higher than the current median priced home. Local homes that are currently for sale include 1512 N Stanton Pl, 1148 Stanley Ave and 2449 E 5th St. While the average home in Long Beach, CA is selling in 50 days, 1069 Martin Luther King Jr Ave has a days on market of 21 days. There are currently 678 homes for sale in the Long Beach real estate market and 386 of them are single family homes while 274 of them are condos and 18 are townhomes. For more information on this home for sale at 1069 Martin Luther King Jr Ave Long Beach, CA 90813 contact Ardent Real Estate Group and we will put you in touch with one of our Long Beach agents.

Public Facts for 1069 Martin Luther King Jr Ave

Public county record property details
Beds
16
Baths
16
Year built
1987
Sq. Ft.
7,096
Lot Size
6,526
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
18
APN
7274-010-035

The source for these homes facts are from public records.

90813 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$600,000
Median List Price/Sq.Ft.
$563
Median Sold Price
$450,000
Median Sold Price/Sq.Ft.
$576
Total Inventory
33
Median Sale to List Price %
90.82%
Avg Days on Market
62
Loan Type
Conventional (50%), FHA (10%), VA (0%), Cash (10%), Other (30%)

Thinking of Selling?

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Thinking of Selling?
Call, Text or Message
(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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