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1141 Molino Ave, Long Beach, CA 90804
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1141 Molino Ave Long Beach, CA 90804

$1,625,000 Sold Price as of 04/09/2019
  • 14 Beds
  • 8 Baths
  • 6,377 Sq.Ft.
Sold
$1,625,000 Sold Price as of 04/09/2019 Refinance Your Mortgage
Map preview of 1141 Molino Ave, Long Beach, CA 90804

Property Overview: 1141 Molino Ave Long Beach, CA has 14 bedrooms, 8 bathrooms, 6,377 living square feet and 6,633 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: Amazing 8 unit Apartment Building in the PRIME Eastside/Circle area of Long Beach, close to trendy Retro Row. First time on the market in over 40 years! One owner that exudes pride of ownership. 60's construction that consists of 8 large units, with upside potential. Unit mix consists of 6- 2 bed/1 bath and 2 1 bed/1 bath with 4 garages in the alley which is additional rent. All tenancies are month to month, and are long term residents. There is NO RENT CONTROL in Long Beach!

Listed by Sandra Feliciano | BRE #01205494 | KSREINV Inc.
Last checked: 2 minutes ago | Last updated: March 22nd, 2022 | Source CRMLS | DOM: 26

Home details

Lot Sq. Ft
6,633
HOA Dues
$0/mo
Year built
1960
Garage
4 Car
Property Type:
Apartment
Status
Sold
MLS#
PW19003490
City
Long Beach
County
Los Angeles
Time on Site
1438 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 8
  • Total # of Buildings: 1
  • # of Leased Units: 8
  • # of Electric Meters: 8
  • # of Gas Meters: 8
  • # of Water Meters: 0
Unit Breakdown 1
  • # of Units: 6
  • # of Beds: 2
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,250
  • Total Rent: $7,500
  • Pro Forma/Market Rent: $9,900
Unit Breakdown 2
  • # of Units: 2
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,100
  • Total Rent: $2,200
  • Pro Forma/Market Rent: $2,500
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 3.85%
  • Gross Rent Multiplier: 15.57
  • Gross Scheduled Income: $118,800
  • Net Operating Income: $71,280
  • Gross Operating Income: $115,236
  • # of Rented Garages: 4
  • Garage Rental Rate: $50
  • Garage Rental Income: $200
  • Laundry Income: $1,200
  • Laundry Own/Lease: Lease
Annual Expense Breakdown
  • Total Operating Expense: $43,956
  • Electric: $750
  • New Taxes: $22,500
  • Trash: $672
  • Gardener: $900
  • Insurance: $3,073
  • Professional Management: $7,128
  • Water/Sewer: $6,540

Property Details for 1141 Molino Ave

Interior Features
Heating Information
  • Has Heating
  • Wall Furnace, Natural Gas
Laundry Information
  • Has Laundry
  • Community
Room Information
  • Flooring: Carpet, Vinyl
Kitchen Information
  • Has Appliances
  • Gas Oven, Gas Cooktop
Interior Features
  • Levels: Two
  • Security Features: Carbon Monoxide Detector(s), Gated Community, Smoke Detector(s)
Exterior Features
Exterior Information
  • Has Fence
  • Chain Link, Wood, Wrought Iron
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Garage Spaces: 4
  • # of Parking Spaces: 4
Lot Information
  • Lot Features: 6-10 Units/Acre
  • Lot Size Source: Assessor
Property Information
  • Common Walls: 2+ Common Walls
  • Total # of Units: 8
  • Parcel Number: 7260029004
  • Year Built Source: Assessor
  • Property is Attached
  • Accessibility Features: 2+ Access Exits
Homeowners Association, Utilities, Taxes / Assessments
Homeowners Association
  • Is Not Part of Association
Utilities Information
  • Sewer: Public Sewer
  • Water Source: Public
Location / Neighborhood
Location Information
  • Subdivision Name: Eastside (ES)
  • Directions: From 7th Street take Junipero North and turn right on 10th Street to Molino, turn left.
Neighborhood Information
  • Community Features: Gutters, Sidewalks, Street Lights, Urban
View more facts & features

Local Long Beach Agent

Sale History for 1141 Molino Ave

Last sold for $1,625,000 on April 9th, 2019

  • April, 2019

  • Apr 9, 2019

    Date

    Sold

    CRMLS: PW19003490

    $1,625,000

    Price

  • Feb 4, 2019

    Date

    Active Under Contract

    CRMLS: PW19003490

    $1,850,000

    Price

  • Jan 8, 2019

    Date

    Active

    CRMLS: PW19003490

    $1,850,000

    Price

  • April, 2019

  • Apr 9, 2019

    Date

    Sold (Public Records)

    Public Records

    $1,625,000

    Price

  • August, 2018

  • Aug 30, 2018

    Date

    Sold (Public Records)

    Public Records

    --

    Price

Show More

Tax History for 1141 Molino Ave

Assessed Value (2020): $1,657,500
Year Land Value Improved Value Assessed Value
2020 $1,020,000 $637,500 $1,657,500

Home Value Compared to the Market

This property vs the competition

1141 Molino Ave sold on April 9, 2019 for 107.4% 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 $290.11 per/sqft which puts the price per square foot 55.98% lower than the current median sale per square foot for the city of Long Beach.

About 1141 Molino Ave

Detailed summary of property

1141 Molino Ave is a apartment that recently sold in Long Beach, CA 90804. This apartment offered 14 bedrooms, 8 bathrooms, roughly 6,377 living square feet, and sits on an approximately 6,633 square foot lot. 1141 Molino Ave was first listed on ArdentRealEstateGroup.com on July 21, 2020. The homeowner sold the property for $1,625,000. 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 107.4% higher than the current median priced home. Local homes that are currently for sale include 650 E 15th St, 219 E 10th St and 2073 Locust Ave. While the average home in Long Beach, CA is selling in 52 days, 1141 Molino Ave has a days on market of 26 days. There are currently 711 homes for sale in the Long Beach real estate market and 397 of them are single family homes while 292 of them are condos and 22 are townhomes. For more information on this home for sale at 1141 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 1141 Molino Ave

Public county record property details
Beds
14
Baths
8
Year built
1960
Sq. Ft.
6,377
Lot Size
6,633
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
4
APN
7260-029-004

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
$515,000
Median List Price/Sq.Ft.
$593
Median Sold Price
$515,000
Median Sold Price/Sq.Ft.
$551
Total Inventory
50
Median Sale to List Price %
99.13%
Avg Days on Market
32
Loan Type
Conventional (41.67%), FHA (8.33%), VA (16.67%), Cash (25%), Other (8.33%)

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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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