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1086 Stanley Ave, Long Beach, CA 90804
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1086 Stanley Ave Long Beach, CA 90804

$2,725,000 Sold Price as of 05/15/2024
  • 17 Beds
  • 17 Baths
  • 7,936 Sq.Ft.
Sold
$2,725,000 Sold Price as of 05/15/2024 Refinance Your Mortgage
Map preview of 1086 Stanley Ave, Long Beach, CA 90804

Property Overview: 1086 Stanley Ave Long Beach, CA has 17 bedrooms, 17 bathrooms, 7,936 living square feet and 6,363 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: 1086 Stanley Avenue is a 9-unit, value-add apartment building built in 1987 and located in Long Beach, California. The property is priced at 12.49 x gross and 5.42% cap rate at current rents. There are eight (8) 2 BD / 2 BA units and one (1) 1 BD / 1 BA unit. Onsite laundry facilities provide additional income and there is ample parking of 13 total spaces -- nine (9) covered garage spaces under the building and two (2) two-car garages. With a Walk Score of 87, the property is in close proximity to many desirable amenities and boasts a strong and stable tenant base.

Listed by Robert Stepp | BRE #01456379 | Keller Williams - Santa Monica
Last checked: 5 minutes ago | Last updated: May 15th, 2024 | Source CRMLS | DOM: 102

Home details

Lot Sq. Ft
6,363
HOA Dues
$0/mo
Year built
1987
Garage
13 Car
Property Type:
Mixed Use
Status
Sold
MLS#
PW23229196
City
Long Beach
County
Los Angeles
Time on Site
271 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 9
  • Total # of Buildings: 1
  • # of Electric Meters: 9
  • # of Gas Meters: 9
  • # of Water Meters: 1
Unit Breakdown 1
  • # of Units: 8
  • # of Beds: 2
  • # of Baths: 2
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $2,222
  • Total Rent: $17,776
  • Pro Forma/Market Rent: $2,295
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,735
  • Total Rent: $1,735
  • Pro Forma/Market Rent: $1,795
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 5.42%
  • Gross Rent Multiplier: 12.49
  • Gross Scheduled Income: $242,175
  • Net Operating Income: $163,870
  • Gross Operating Income: --
Annual Expense Breakdown
  • Total Operating Expense: $71,040
  • Electric: $1,668
  • Gas/Fuel: $1,668
  • Licenses: $1,500
  • New Taxes: $37,709
  • Trash: $1,668
  • Gardener: $525
  • Insurance: $6,244
  • Maintenance: $4,950
  • Professional Management: $10,571
  • Water/Sewer: $1,668
  • Other Expenses: $1,800
  • Other Expense Description: Reserves

Property Details for 1086 Stanley Ave

Interior Features
Laundry Information
  • Has Laundry
  • Individual Room
Interior Features
  • Levels: One
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
Lot Information
  • Lot Features: 6-10 Units/Acre
  • Lot Size Source: Assessor
  • Common Interest: Community Apartment
Property Information
  • Common Walls: 2+ Common Walls
  • Total # of Units: 9
  • Parcel Number: 7262003003
  • Year Built Source: Assessor
  • Entry Level: 1
  • Property is Attached
Homeowners Association, Utilities, Taxes / Assessments
Utilities Information
  • Sewer: Public Sewer
  • Water Source: Public
Location / Neighborhood
Location Information
  • Subdivision Name: Eastside (ES)
  • Directions: E 10th St
Neighborhood Information
  • Community Features: Sidewalks
View more facts & features

Local Long Beach Agent

Sale History for 1086 Stanley Ave

Last sold for $2,725,000 on May 15th, 2024

  • May, 2024

  • May 15, 2024

    Date

    Sold

    CRMLS: PW23229196

    $2,725,000

    Price

  • Dec 22, 2023

    Date

    Active

    CRMLS: PW23229196

    $3,025,000

    Price

  • December, 2022

  • Dec 21, 2022

    Date

    Canceled

    CRMLS: OC22220849

    $6,200,000

    Price

  • Oct 12, 2022

    Date

    Active

    CRMLS: OC22220849

    $6,200,000

    Price

  • Listing provided courtesy of CRMLS

    1086 & 1128 Stanley Avenue is a 2-property, 18-unit multifamily investment opportunity located in Long Beach, a premier rental market in Los Angeles County, California. 1086 & 1128 Stanley Avenue consists of 2, 9-unit multifamily properties, built in 1987, that offer 89% spacious, two-bedroom floor plans. Residents enjoy access to amenities including gated access, on-site laundry, private patios and balconies, and secured parking. 1086 & 1128 Stanley Avenue offers an investor the opportunity to convert existing garage space into two accessory dwelling units (one ADU at each property).

  • September, 2019

  • Sep 9, 2019

    Date

    Canceled

    CRMLS: PW18119811

    $2,650,000

    Price

  • Jun 8, 2018

    Date

    Withdrawn

    CRMLS: PW18119811

    $2,650,000

    Price

  • May 21, 2018

    Date

    Active

    CRMLS: PW18119811

    $2,650,000

    Price

  • Listing provided courtesy of CRMLS

    1086 Stanley Avenue is a 9-unit asset in Eastside, a highly desirable rental location in Long Beach. The 7,963 square foot property is comprised of a balcony-style building with lots of light, cathedral ceilings on the second floor, 8 two-bedroom/two-bathroom units and 1 one-bedroom/one-bathroom unit. The property also has copper plumbing throughout, on-site laundry and ample parking. This property offers investors a rare opportunity to own a value-add asset with 21.8% rental upside in a rapidly developing submarket.

  • October, 2018

  • Oct 25, 2018

    Date

    Sold (Public Records)

    Public Records

    $2,389,500

    Price

  • February, 2017

  • Feb 27, 2017

    Date

    Sold (Public Records)

    Public Records

    $1,900,000

    Price

Show More

Tax History for 1086 Stanley Ave

Assessed Value (2020): $2,438,890
Year Land Value Improved Value Assessed Value
2020 $1,417,290 $1,021,600 $2,438,890

Home Value Compared to the Market

This property vs the competition

1086 Stanley Ave sold on May 15, 2024 for 269.35% 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 $381.17 per/sqft which puts the price per square foot 39.3% lower than the current median sale per square foot for the city of Long Beach.

About 1086 Stanley Ave

Detailed summary of property

1086 Stanley Ave is a mixed use that recently sold in Long Beach, CA 90804. This mixed use property offered 17 bedrooms, 17 bathrooms, roughly 7,936 living square feet, and sits on an approximately 6,363 square foot lot. 1086 Stanley Ave was first listed on ArdentRealEstateGroup.com on December 22, 2023. The homeowner sold the property for $2,725,000. 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 269.35% higher than the current median priced home. Local homes that are currently for sale include 1213 W Balboa Blvd, 1209 W Balboa Blvd and 941 S Gramercy Pl. While the average home in Long Beach, CA is selling in 62 days, 1086 Stanley Ave has a days on market of 102 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 1086 Stanley 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 1086 Stanley Ave

Public county record property details
Beds
16
Baths
8
Year built
1987
Sq. Ft.
7,963
Lot Size
6,363
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
3,4
APN
7262-003-003

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
$500,000
Median List Price/Sq.Ft.
$622
Median Sold Price
$450,000
Median Sold Price/Sq.Ft.
$534
Total Inventory
44
Median Sale to List Price %
97.83%
Avg Days on Market
30
Loan Type
Conventional (62.5%), FHA (12.5%), VA (12.5%), Cash (12.5%), 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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