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1148 Stanley Ave, Long Beach, CA 90804
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1148 Stanley Ave Long Beach, CA 90804

$2,375,000
  • 16 Beds
  • 16 Baths
  • 6,240 Sq.Ft.
For Sale
$2,375,000 Get Pre-Qualified
Map preview of 1148 Stanley Ave, Long Beach, CA 90804

Property Overview: 1148 Stanley Ave Long Beach, CA has 16 bedrooms, 16 bathrooms, 6,240 living square feet and 6,627 square feet lot size. Call an Ardent Real Estate Group agent to verify current availability of this home or with any questions you may have.

Agent Remarks: 8 units in Long Beach subject to AB 1482 rent control - maximum annual increase of 5% + CPI. Priced at 12.5 GRM and a 4.8% CAP with upside to a 6.4% CAP. Built in 1986 the property is professionally managed and well maintained. All units are 2 bed/2bath and have updated kitchens, baths and flooring. 12 onsite parking for 8 units as well as onsite laundry. There is onsite laundry onsite. The electrical is Siemens - it's a 200 AMP main panel with 60 AMP subpanels (Buyer to verify). Email LA for more information including a current Rent Roll and actual expenses.

Listed by Jonathan Swire | BRE #01336277 | The Agency
Last checked: 12 minutes ago | Last updated: May 1st, 2024 | Source CRMLS | DOM: 19
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Home details

Lot Sq. Ft
6,627
HOA Dues
$0/mo
Year built
1986
Garage
12 Car
Property Type:
Multi Family
Status
Active
MLS#
24383887
City
Long Beach
County
Los Angeles
Time on Site
17 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 8
  • Total # of Buildings: 1
Unit Breakdown 1
  • # of Units: 8
  • # of Beds: 2
  • # of Baths: 2
  • Furnishing: Unfurnished
  • Actual Rent: $1,995
  • Total Rent: $1,995
  • Pro Forma/Market Rent: $1,995
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 4.8%
  • Gross Rent Multiplier: 12.5
  • Gross Scheduled Income: --
  • Net Operating Income: $129,000
  • Gross Operating Income: $196,000
Annual Expense Breakdown
  • Total Operating Expense: --

Open Houses for 1148 Stanley Ave

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Property Details for 1148 Stanley Ave

Interior Features
Cooling Information
  • No Cooling
  • None
Heating Information
  • Has Heating
  • Wall Furnace
Laundry Information
  • Has Laundry
  • Community
Kitchen Information
  • Has Appliances
Interior Features
  • Levels: Multi/Split
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Garage Spaces: 12
  • # of Parking Spaces: 12
  • Has Parking
  • Parking Features: Assigned
Property Information
  • Total # of Units: 8
  • Parcel Number: 7260029019
Homeowners Association, Utilities, Taxes / Assessments
Homeowners Association
  • Is Not Part of Association
Assessment Information
  • No Assessments
Location / Neighborhood
Location Information
  • Directions: 8 units built in 1986 in Long Beach.
View more facts & features

Local Long Beach Agent

Sale History for 1148 Stanley Ave

Last sold for $2,500,000 on August 13th, 2021

  • April, 2024

  • Apr 23, 2024

    Date

    Active

    CRMLS: 24383887

    $2,375,000

    Price

  • August, 2021

  • Aug 16, 2021

    Date

    Sold

    CRMLS: PW21106140

    $2,500,000

    Price

  • Jun 21, 2021

    Date

    Pending

    CRMLS: PW21106140

    $2,500,000

    Price

  • May 18, 2021

    Date

    Active

    CRMLS: PW21106140

    $2,500,000

    Price

  • Listing provided courtesy of CRMLS

    1148 Stanley is an 8-unit property built in 1986, featuring all spacious two-bedroom / two-bath units with large private balconies. Extensive building renovations include a modern new wood entry treatment, new landscaping with automatic drip irrigation and low voltage lighting. The secured garage offers ample parking (12 spaces) and new high-intensity LED lighting. Seven of the eight units have undergone complete remodels which include new flooring, lighting, interior doors and hardware, brand new kitchens and bathrooms and modern fixtures throughout. Immediate increased income opportunities may be realized through RUBS and parking. Pending City approval, enclosed garages and/or an Additional Dwelling Unit (ADU) may provide further additional income in the longer term. Located in the popular Eastside neighborhood, just a 10-minute drive to Downtown Long Beach, the building has a Walk Score of 91, making it extremely desirable for renters. This asset will provide the new owner with 14% potential upside in revenue, including increased income through the newly-instituted RUBS program.

  • June, 2016

  • Jun 14, 2016

    Date

    Sold (Public Records)

    Public Records

    $1,555,000

    Price

  • March, 2010

  • Mar 24, 2010

    Date

    Sold (Public Records)

    Public Records

    --

    Price

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Tax History for 1148 Stanley Ave

Assessed Value (2020): $1,684,120
Year Land Value Improved Value Assessed Value
2020 $974,188 $709,932 $1,684,120

Home Value Compared to the Market

This property vs the competition

1148 Stanley Ave is listed 197.25% higher than the median list price for the city of Long Beach which has a median list price of $799,000. The median price per/sqft for Long Beach is $647 and this home is listed at $380.61 per/sqft which puts the price per square foot 41.17% lower than the median price per square foot for the city of Long Beach.

About 1148 Stanley Ave

Detailed summary of property

1148 Stanley Ave is a multi family located in Long Beach, CA 90804 and is currently for sale. This multi family property offers 16 bedrooms, 16 bathrooms, roughly 6,240 living square feet, and sits on an approximately 6,627 square foot lot. 1148 Stanley Ave was first listed on ArdentRealEstateGroup.com on April 29, 2024. The homeowner is currently asking $2,375,000. The median priced home in Long Beach is $799,000 with a median price per square foot of $647. Based on Ardent Real Estate Group's Long Beach Market Data, this home is listed 197.25% higher than the median priced home. Local competing homes currently for sale include 468 Gaviota Ave, 1616 E 4th St and 1141 E 16th St. While the average home in Long Beach, CA is selling in 51 days, 1148 Stanley Ave has a days on market of 19 days. There are currently 643 homes for sale in the Long Beach real estate market and 358 of them are single family homes while 270 of them are condos and 15 are townhomes. For more information on this home for sale at 1148 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 1148 Stanley Ave

Public county record property details
Beds
16
Baths
16
Year built
1986
Sq. Ft.
6,240
Lot Size
6,626
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
17
APN
7260-029-019

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.
$594
Median Sold Price
$550,000
Median Sold Price/Sq.Ft.
$667
Total Inventory
53
Median Sale to List Price %
104.77%
Avg Days on Market
23
Loan Type
Conventional (57.14%), FHA (0%), VA (14.29%), Cash (28.57%), Other (0%)

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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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