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1172 E 1st St Long Beach, CA 90802

$1,650,000 Sold Price as of 12/14/2020

9 Beds
8 Baths
4,426 Sq.Ft.

Sold

$1,650,000 Sold Price as of 12/14/2020 Refinance Your Mortgage

Map preview of 1172 E 1st St, Long Beach, CA 90802

Property Overview: 1172 E 1st St Long Beach, CA has 9 bedrooms, 8 bathrooms, 4,426 living square feet and 5,008 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: Pleased to present the opportunity to acquire the 1st Street Property, a 4 unit building located steps from Ocean Blvd. Built in 1969, this property offers a good variety of large 2 and 3 bedroom units. The property includes 5 garages and is individually metered for gas and electricity, and is owner occupied. The 1st Street Property offers an investor the unique opportunity to purchase a well-located asset with a 4.2% Cap on current rents.

Listed by Gary Tolfa | BRE #00955403 | Triqor Group

Last checked: 6 minutes ago | Last updated: March 22nd, 2022 | Source CRMLS | DOM: 90

Home details

Lot Sq. Ft: 5,008
HOA Dues: $0/mo
Year built: 1969
Garage: 5 Car
Property Type:: Multi Family

Status: Sold
MLS#: PW20146335
City: Long Beach
County: Los Angeles
Time on Site: 1392 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: 0

Unit Breakdown 1

# of Units: 3
# of Beds: 2
# of Baths: 2
Garage Spaces: 3
Garaged Attached? No
Furnishing: Unfurnished
Actual Rent: $1,733
Total Rent: $5,199
Pro Forma/Market Rent: $2,150

Unit Breakdown 2

# of Units: 1
# of Beds: 3
# of Baths: 2
Garage Spaces: 2
Garaged Attached? No
Furnishing: Unfurnished
Actual Rent: $3,075
Total Rent: $3,075
Pro Forma/Market Rent: $3,150

Multi-Family Income/Expense Information

Property Income and Analysis

Cap Rate: 4.2%
Gross Rent Multiplier: 15.06
Gross Scheduled Income: $108,540
Net Operating Income: $72,072
Gross Operating Income: $105,284
Vacancy Allowance: $3,256

Annual Expense Breakdown

Total Operating Expense: $33,211
Electric: $0
Gas/Fuel: $0
New Taxes: $0
Trash: $0
Insurance: $0
Water/Sewer: $0

Property Details for 1172 E 1st St

Interior Features

Laundry Information

Has Laundry
Dryer Included, Washer Included

Exterior Features

No Pool
Pool Features: None

Lot Details / Garage and Parking

Parking/Garage Information

# of Garage Spaces: 5
# of Parking Spaces: 5

Lot Information

Lot Features: Landscaped
Common Interest: None

Property Information

Common Walls: 2+ Common Walls
Total # of Units: 4
Parcel Number: 7265009032
Year Built Source: Public Records
Property is Attached

Homeowners Association, Utilities, Taxes / Assessments

Utilities Information

Sewer: Public Sewer
Water Source: Public

Location / Neighborhood

Location Information

Directions: Please Contact Listing Agent For All Directions

Neighborhood Information

Community Features: Suburban

View more facts & features

Local Long Beach Agent

Sale History for 1172 E 1st St

Last sold for $1,650,000 on December 14th, 2020

December, 2020
Dec 14, 2020

Date

Sold

CRMLS: PW20146335

$1,650,000

Price
Oct 21, 2020

Date

Active Under Contract

CRMLS: PW20146335

$1,700,000

Price
Jul 23, 2020

Date

Active

CRMLS: PW20146335

$1,700,000

Price
December, 2020
Dec 10, 2020

Date

Sold (Public Records)

Public Records

$1,650,000

Price
May, 2014
May 2, 2014

Date

Sold (Public Records)

Public Records

$1,170,000

Price

Tax History for 1172 E 1st St

Assessed Value (2020): $1,307,954

Year	Land Value	Improved Value	Assessed Value
2020	$860,396	$447,558	$1,307,954

Home Value Compared to the Market

This property vs the competition

1172 E 1st St sold on December 14, 2020 for 112.5% 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 $384.09 per/sqft which puts the price per square foot 39.23% lower than the current median sale per square foot for the city of Long Beach.

About 1172 E 1st St

Detailed summary of property

1172 E 1st St is a multi family that recently sold in Long Beach, CA 90802. This multi family property offered 9 bedrooms, 8 bathrooms, roughly 4,426 living square feet, and sits on an approximately 5,008 square foot lot. 1172 E 1st St was first listed on ArdentRealEstateGroup.com on July 24, 2020. The homeowner sold the property for $1,650,000. 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 112.5% higher than the current median priced home. Local homes that are currently for sale include 1825 Cherry Ave, 720 Coronado Ave and 1526 Cedar Ave. While the average home in Long Beach, CA is selling in 51 days, 1172 E 1st St has a days on market of 90 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 1172 E 1st St Long Beach, CA 90802 contact Ardent Real Estate Group and we will put you in touch with one of our Long Beach agents.

Public Facts for 1172 E 1st St

Public county record property details

Beds: 9
Baths: 8
Year built: 1969
Sq. Ft.: 4,426
Lot Size: 5,008
Stories: --

Type: Quadruplex (4 Units, Any Combination)
Pool: No
Spa: No
County: Los Angeles
Lot#: 9
APN: 7265-009-032

The source for these homes facts are from public records.

90802 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends

Median List Price

$530,000

Median List Price/Sq.Ft.

$630

Median Sold Price

$540,000

Median Sold Price/Sq.Ft.

$627

Total Inventory

130

Median Sale to List Price %

102.86%

Avg Days on Market

Loan Type

Conventional (51.52%), FHA (3.03%), VA (3.03%), Cash (24.24%), Other (15.15%)

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(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.