Image 2 for 1118 E 17Th St, Long Beach, CA 90813

View Photos

1118 E 17Th St Long Beach, CA 90813

$1,500,000 Sold Price as of 09/27/2021

12 Beds
8 Baths
4,408 Sq.Ft.

Sold

$1,500,000 Sold Price as of 09/27/2021 Refinance Your Mortgage

Refinance Your Mortgage

Map preview of 1118 E 17Th St, Long Beach, CA 90813

Property Overview: 1118 E 17Th St Long Beach, CA has 12 bedrooms, 8 bathrooms, 4,408 living square feet and 6,534 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: 1118 E 17th Street, a four-unit apartment building in Long Beach. This is the highest CAP rate 4 plex on the market in the city. The vacant unit, paired with historically low interest rates, provides a unique opportunity to owner-occupy and have the other tenants pay your mortgage, all expenses and still yield a NET POSITIVE RETURN!!! The four-unit building is comprised of four (4) three-bed/one-and-a-half-bath two-story townhouse style units and was built in 1970. The units all have in-unit laundry, private patios and dual pane windows. There are 5 parking spaces available for tenants and a storage room that is currently used by the owner. The units are separately metered for gas and electricity and the owner recently had the water submetered to minimize landlord expenses. The complex also offers secure gated entry from both the front and rear of the parcel. 1118 E 17th Street provides an exciting opportunity to owner-occupy and/or acquire a positive cash flowing asset in a city that has and will see the steepest trajectory of growth in Southern California. While currently positioned at a current 12.79 GRM and 5.85% CAP rate, the subject property has potential upside to a 11.60 GRM and 6.63% CAP rate.

Listed by Christopher Van Vuuren | BRE #02060007 | Lyon Stahl Investment Real Estate, Inc.

Last checked: 47 seconds ago | Last updated: March 22nd, 2022 | Source CRMLS | DOM: 12

Home details

Lot Sq. Ft: 6,534
HOA Dues: $0/mo
Year built: 1970
Garage: --
Property Type:: Multi Family

Status: Sold
MLS#: SB21147642
City: Long Beach
County: Los Angeles
Time on Site: 1029 days

Multi-Family Unit Breakdown

Unit Mix Summary

Total # of Units: 4
Total # of Buildings: 1
# of Electric Meters: 4
# of Gas Meters: 4
# of Water Meters: 4

Unit Breakdown 1

# of Units: 1
# of Beds: 3
# of Baths: 2
Garage Spaces: 0
Garaged Attached? No
Furnishing: Unfurnished
Actual Rent: $2,608
Total Rent: $2,608
Pro Forma/Market Rent: $2,695

Unit Breakdown 2

# of Units: 1
# of Beds: 3
# of Baths: 2
Garage Spaces: 0
Garaged Attached? No
Furnishing: Unfurnished
Actual Rent: $2,270
Total Rent: $2,270
Pro Forma/Market Rent: $2,695

Unit Breakdown 3

# of Units: 1
# of Beds: 3
# of Baths: 2
Garage Spaces: 0
Garaged Attached? No
Furnishing: Unfurnished
Actual Rent: $2,695
Total Rent: $2,695
Pro Forma/Market Rent: $2,695

Unit Breakdown 4

# of Units: 1
# of Beds: 3
# of Baths: 2
Garage Spaces: 0
Garaged Attached? No
Furnishing: Unfurnished
Actual Rent: $2,200
Total Rent: $2,200
Pro Forma/Market Rent: $2,695

Multi-Family Income/Expense Information

Property Income and Analysis

Gross Rent Multiplier: --
Gross Scheduled Income: $117,276
Net Operating Income: $87,742
Gross Operating Income: --

Annual Expense Breakdown

Total Operating Expense: $26,016
Electric: $0
Gas/Fuel: $0
Trash: $0
Insurance: $0
Water/Sewer: $0

Property Details for 1118 E 17Th St

Interior Features

Laundry Information

Has Laundry
Inside

Exterior Features

No Pool
Pool Features: None

Lot Details / Garage and Parking

Parking/Garage Information

# of Parking Spaces: 5

Lot Information

Lot Features: Rectangular Lot
Lot Size Source: Assessor
Common Interest: None

Property Information

Common Walls: 2+ Common Walls
Total # of Units: 4
Parcel Number: 7268023039
Year Built Source: Assessor
Property is Attached

Homeowners Association, Utilities, Taxes / Assessments

Utilities Information

Sewer: Unknown
Water Source: Public

Location / Neighborhood

Location Information

Subdivision Name: Poly High (PH)
Directions: N on Alamitos Ave, W on East 17th Street

Neighborhood Information

Community Features: Sidewalks

View more facts & features

Local Long Beach Agent

Sale History for 1118 E 17Th St

Last sold for $1,500,000 on September 27th, 2021

July, 2021
Jul 20, 2021

Date

Active Under Contract

CRMLS: SB21147642

$1,500,000

Price
Jul 7, 2021

Date

Active

CRMLS: SB21147642

$1,500,000

Price
April, 2002
Apr 3, 2002

Date

Sold (Public Records)

Public Records

$338,000

Price

Tax History for 1118 E 17Th St

Assessed Value (2020): $456,553

Year	Land Value	Improved Value	Assessed Value
2020	$202,612	$253,941	$456,553

Home Value Compared to the Market

This property vs the competition

1118 E 17Th St sold on September 27, 2021 for 87.5% 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 $340.29 per/sqft which puts the price per square foot 46.16% lower than the current median sale per square foot for the city of Long Beach.

About 1118 E 17Th St

Detailed summary of property

1118 E 17Th St is a multi family that recently sold in Long Beach, CA 90813. This multi family property offered 12 bedrooms, 8 bathrooms, roughly 4,408 living square feet, and sits on an approximately 6,534 square foot lot. 1118 E 17Th St was first listed on ArdentRealEstateGroup.com on July 7, 2021. The homeowner sold the property for $1,500,000. 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 87.5% higher than the current median priced home. Local homes that are currently for sale include 1044 Cedar Ave, 2529 E 10th St and 1050 Molino Ave. While the average home in Long Beach, CA is selling in 54 days, 1118 E 17Th St has a days on market of 12 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 1118 E 17Th St 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 1118 E 17Th St

Public county record property details

Beds: 12
Baths: 8
Year built: 1970
Sq. Ft.: 4,408
Lot Size: 6,505
Stories: --

Type: Quadruplex (4 Units, Any Combination)
Pool: No
Spa: No
County: Los Angeles
Lot#: 39
APN: 7268-023-039

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

$695,000

Median List Price/Sq.Ft.

$546

Median Sold Price

$584,000

Median Sold Price/Sq.Ft.

$592

Total Inventory

Median Sale to List Price %

108.35%

Avg Days on Market

Loan Type

Conventional (80%), FHA (10%), VA (10%), Cash (0%), Other (0%)

Thinking of Selling?

Is this your property?
Thinking of Selling?
Call, Text or Message

(714) 706-1823

Homes for Sale Near 1118 E 17Th St

Nearby Homes for Sale

Recently Sold Homes Near 1118 E 17Th St

$800,000 Last Sold Price

4 Beds

2 Baths

1672 Sq.Ft.

1101 E 16th St
Long Beach, CA 90813

$725,000 Last Sold Price

2 Beds

3 Baths

1237 Sq.Ft.

1720 Lemon Ave
Long Beach, CA 90813

$875,000 Last Sold Price

5 Beds

4 Baths

2190 Sq.Ft.

1151 E 16th St
Long Beach, CA 90813

$890,000 Last Sold Price

5 Beds

3 Baths

2050 Sq.Ft.

1724 Lemon Ave
Long Beach, CA 90813

Related Resources to 1118 E 17Th St

New Listings in 90813

Popular Zip Codes

Popular Cities

Other Long Beach Resources

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.