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1115 E Artesia Blvd, Long Beach, CA 90805
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1115 E Artesia Blvd Long Beach, CA 90805

$2,290,000 Sold Price as of 04/22/2024
  • 22 Beds
  • 16.25 Baths
  • 8,100 Sq.Ft.
Sold
$2,290,000 Sold Price as of 04/22/2024 Refinance Your Mortgage
Map preview of 1115 E Artesia Blvd, Long Beach, CA 90805

Property Overview: 1115 E Artesia Blvd Long Beach, CA has 22 bedrooms, 16.25 bathrooms, 8,100 living square feet and 6,208 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: ** BRAND NEW BUILDING - PRICE REDUCED - NOW 6.55% CAP - 4 of the 5 Units Leased ** The subject property is a newly constructed 5-unit townhouse style apartment building located at 1115 E. Artesia Blvd. in the city of Long Beach. Construction on this building was completed in early February 2024 and leasing has begun (four of the five units have already been leased up). This property is composed of three separate three-story structures with approximately 7,895 square feet of rentable space sitting on a parcel of approximately 6,208 square feet. The units at this property are significantly larger than other for-rent units typically found in the Long Beach market and are perfectly positioned for multi-generational families and work-from-home roommate environments. Three of the units are large 5-bedroom, 3.75 bath three-story townhome units of approximately 1,750 square feet with attached two-car garages. One of the units is a 4-bedroom, 3-bath three-story townhome unit of approximately 1,421 square feet and the fifth unit is an affordable housing unit and is a 3-bedroom, 2-bath unit of approximately 1,252 square feet. For-rent townhomes of this size and bedroom count are extremely hard if not impossible to find in the Long Beach market, especially in newly constructed buildings. As such, these units fill a unique niche in the market that could certainly be advantageous for a new owner as families and groups of renters consolidate in the coming years. The demand for multi-generational housing accommodations has vaulted in popularity and these large townhome units certainly help fill this need. In terms of amenities, all units have central heating and air conditioning and all units have private balconies, an open kitchen layout with a large kitchen island, and a full laundry room on the third floor of each unit including washers and dryers. The property has security gates in the front of the building for pedestrian access and in the rear of the building for vehicle access. This property offers a rare opportunity for an investor to purchase a newly constructed 5-unit apartment building in a desirable rental market that will benefit from a unique unit mix that is not commonly found in this market.

Listed by Matthew Wenzel | BRE #01198357 | Marcus & Millichap
Last checked: 15 minutes ago | Last updated: April 23rd, 2024 | Source CRMLS | DOM: 188

Home details

Lot Sq. Ft
6,208
HOA Dues
$0/mo
Year built
2023
Garage
6 Car
Property Type:
Mixed Use
Status
Sold
MLS#
PW23184728
City
Long Beach
County
Los Angeles
Time on Site
214 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 5
  • Total # of Buildings: 3
  • # of Leased Units: 0
  • # of Electric Meters: 5
  • # of Gas Meters: 5
  • # of Water Meters: 1
Unit Breakdown 1
  • # of Units: 3
  • # of Beds: 5
  • # of Baths: 4
  • Garage Spaces: 2
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $3,850
  • Total Rent: $11,700
  • Pro Forma/Market Rent: $4,000
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 4
  • # of Baths: 3
  • Garage Spaces: 2
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $3,750
  • Total Rent: $3,750
  • Pro Forma/Market Rent: $3,750
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 3
  • # of Baths: 2
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $2,992
  • Total Rent: $2,992
  • Pro Forma/Market Rent: $2,992
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 6.57%
  • Gross Rent Multiplier: 10.74
  • Gross Scheduled Income: $221,304
  • Net Operating Income: $154,020
  • Gross Operating Income: $212,337
  • Vacancy Allowance: $6,639
Annual Expense Breakdown
  • Total Operating Expense: $60,645
  • Electric: $1,500
  • Gas/Fuel: $0
  • New Taxes: $28,200
  • Trash: $1,500
  • Insurance: $7,895
  • Maintenance: $7,500
  • Professional Management: $8,800
  • Water/Sewer: $3,000
  • Other Expenses: $2,250
  • Other Expense Description: Misc

Property Details for 1115 E Artesia Blvd

Interior Features
Cooling Information
  • Has Cooling
  • Central Air
Heating Information
  • Has Heating
  • Central
Laundry Information
  • Has Laundry
  • Dryer Included, Washer Included
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: 6
  • # of Parking Spaces: 8
  • Has Parking
  • Parking Features: Garage
Lot Information
  • Lot Features: Near Public Transit
  • Lot Size Source: Assessor
  • Common Interest: None
Property Information
  • Common Walls: 1 Common Wall, No One Above, No One Below
  • Total # of Units: 5
  • Parcel Number: 7115007037
  • Year Built Source: Builder
  • 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: North Long Beach (NLB)
  • Directions: Artesia Blvd just west of Orange Ave
Neighborhood Information
  • Community Features: Curbs, Gutters, Sidewalks, Storm Drains, Street Lights, Suburban
View more facts & features

Local Long Beach Agent

Sale History for 1115 E Artesia Blvd

Last sold for $2,290,000 on April 22nd, 2024

  • April, 2024

  • Apr 22, 2024

    Date

    Sold

    CRMLS: PW23184728

    $2,290,000

    Price

  • Oct 3, 2023

    Date

    Active

    CRMLS: PW23184728

    $2,900,000

    Price

  • October, 2020

  • Oct 1, 2020

    Date

    Expired

    CRMLS: 18366716

    $335,000

    Price

  • Dec 31, 2019

    Date

    Price Change

    CRMLS: 18366716

    $335,000

    Price

  • Dec 4, 2019

    Date

    Active

    CRMLS: 18366716

    $375,000

    Price

  • Sep 20, 2019

    Date

    Expired

    CRMLS: 18366716

    $375,000

    Price

  • Apr 22, 2019

    Date

    Price Change

    CRMLS: 18366716

    $375,000

    Price

  • Jul 19, 2018

    Date

    Active

    CRMLS: 18366716

    $450,000

    Price

  • Listing provided courtesy of CRMLS

    What a bargain! Humongous price reduction!! This is a commercial lot of 6,208 SF on E Artesia Blvd in Long Beach. Great visibility with traffic count over 25,000 cars per day. This property is zoned LBCCA which is permitted for retail, community shopping center, professional office, medical office, restaurant andmany other commercial uses. Buyer to verify the uses with the City. This property is located close to and has easy access to the 91FWY and 7. There is no BUILDING on the lot.

  • September, 2020

  • Sep 22, 2020

    Date

    Expired

    CRMLS: PW19229733

    $335,000

    Price

  • Sep 27, 2019

    Date

    Active

    CRMLS: PW19229733

    $335,000

    Price

  • Listing provided courtesy of CRMLS

    This is a Commercial lot of 6,208 SF on E Artesia Blvd in a developing area of North Long Beach. Great visibility with traffic count over 25,000 cars per day. Convenient access from the Cherry Ave, South, off ramp from the busy 91 FWY. This property is zoned LBCCA whick is permitted for Retail, Community Shopping Center, Professional Office, Medical Office, Resturant and many other Commercial uses. Buyer to verify the permitted uses with the City of Long Beach. This property is located close to and has easy access to the 91 and 710 FWYS. Currently, there is no BUILDING on this lot. Just waiting to be DEVELOPED!

  • September, 2019

  • Sep 19, 2019

    Date

    Expired

    CRMLS: PW18129521

    $450,000

    Price

  • Jun 1, 2018

    Date

    Active

    CRMLS: PW18129521

    $450,000

    Price

  • Listing provided courtesy of CRMLS

    This is a commercial lot of 6,208 SF on E Artesia Blvd in Long Beach. Great visibility with traffic count over 25,000 cars per day. This property is zoned LBCCA which is permitted for retail, community shopping center, professional office, medical office, restaurant and many other commercial uses. Buyer to verify the uses with the City. This property is located close to and has easy access to the 91 FWY and 7. Please disregard the following items: SQFT(SRC): 100; and, BUILDING $/PER SQFT: $4,500.00 There is no BUILDING on the lot.

  • January, 2014

  • Jan 23, 2014

    Date

    Sold (Public Records)

    Public Records

    $115,000

    Price

Show More

Tax History for 1115 E Artesia Blvd

Assessed Value (2020): --
Year Land Value Improved Value Assessed Value
2020 $128,899 -- --

Home Value Compared to the Market

This property vs the competition

1115 E Artesia Blvd sold on April 22, 2024 for 193.75% 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 $290.12 per/sqft which puts the price per square foot 54.09% lower than the current median sale per square foot for the city of Long Beach.

About 1115 E Artesia Blvd

Detailed summary of property

1115 E Artesia Blvd is a mixed use that recently sold in Long Beach, CA 90805. This mixed use property offered 22 bedrooms, 16.25 bathrooms, roughly 8,100 living square feet, and sits on an approximately 6,208 square foot lot. 1115 E Artesia Blvd was first listed on ArdentRealEstateGroup.com on October 3, 2023. The homeowner sold the property for $2,290,000. 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 193.75% higher than the current median priced home. Local homes that are currently for sale include 3312 E 2nd St, 4652 Gratian St and 755 S Boyle Ave. While the average home in Long Beach, CA is selling in 54 days, 1115 E Artesia Blvd has a days on market of 188 days. There are currently 610 homes for sale in the Long Beach real estate market and 349 of them are single family homes while 248 of them are condos and 13 are townhomes. For more information on this home for sale at 1115 E Artesia Blvd Long Beach, CA 90805 contact Ardent Real Estate Group and we will put you in touch with one of our Long Beach agents.

Public Facts for 1115 E Artesia Blvd

Public county record property details
Beds
--
Baths
--
Year built
--
Sq. Ft.
--
Lot Size
6,207
Stories
--
Type
Commercial-Vacant Land
Pool
No
Spa
No
County
Los Angeles
Lot#
13
APN
7115-007-037

The source for these homes facts are from public records.

90805 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$679,999
Median List Price/Sq.Ft.
$537
Median Sold Price
$720,000
Median Sold Price/Sq.Ft.
$564
Total Inventory
60
Median Sale to List Price %
101.69%
Avg Days on Market
26
Loan Type
Conventional (47.83%), FHA (17.39%), VA (4.35%), Cash (13.04%), Other (17.39%)

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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