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118 Orange Ave, Long Beach, CA 90802
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118 Orange Ave Long Beach, CA 90802

$1,700,000 Sold Price as of 06/29/2022
  • 4 Beds
  • 4 Baths
  • 2,592 Sq.Ft.
Sold
$1,700,000 Sold Price as of 06/29/2022 Refinance Your Mortgage
Map preview of 118 Orange Ave, Long Beach, CA 90802

Property Overview: 118 Orange Ave Long Beach, CA has 4 bedrooms, 4 bathrooms, 2,592 living square feet and 4,996 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: A great 4(1x1) building with 9 garages opportunity in the heart of Alamitos Beach. Building is well maintained and has a one year old roof with some copper plumbing. The building has an on site owner owned laundry room that generates extra income. Orange Avenue is short 1.5 blocks walk from beach. It is near Downtown and Belmont Shores dining and entertainment. The location attracts quality tenants, looking for an exceptional living experience and a vibrant neighborhood. Property provides tenants with a landscaped, peaceful, safe and enjoyable secured private courtyard. Each tenant has a garage with direct in and out access to the courtyard. Long Beach is freeway close to Los Angeles and Orange county employment centers. All units have crown molding, baseboards and wood trim around all windows and doors. Property may offer the opportunity to convert some of the garages into ADUs for more income. Advise checking with City of Long Beach. Property has been professionally managed for many years. Garages annual income included in Gross Schedule Income. Also add rented 5 garages sq.ft. (1,150) to 2592 sq. ft. for accurate rental sq. ft.

Listed by Luis Meza | BRE #00983625 | The Real Estate Store Inc.
Last checked: 8 minutes ago | Last updated: June 29th, 2022 | Source CRMLS | DOM: 21

Home details

Lot Sq. Ft
4,996
HOA Dues
$0/mo
Year built
1935
Garage
9 Car
Property Type:
Fourplex
Status
Sold
MLS#
DW22070397
City
Long Beach
County
Los Angeles
Time on Site
770 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 4
  • Total # of Buildings: 1
  • # of Electric Meters: 5
  • # of Gas Meters: 5
  • # of Water Meters: 1
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,750
  • Total Rent: $1,750
  • Pro Forma/Market Rent: $1,900
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,629
  • Total Rent: $1,629
  • Pro Forma/Market Rent: $1,900
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,700
  • Total Rent: $1,700
  • Pro Forma/Market Rent: $1,900
Unit Breakdown 4
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,575
  • Total Rent: $1,575
  • Pro Forma/Market Rent: $1,900
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 3.71%
  • Gross Rent Multiplier: 17.92
  • Gross Scheduled Income: $94,848
  • Net Operating Income: $63,126
  • Gross Operating Income: $95,670
  • # of Rented Garages: 5
  • Garage Rental Rate: $250
  • Garage Rental Income: $1,250
  • Laundry Income: $822
  • Laundry Own/Lease: Own
Annual Expense Breakdown
  • Total Operating Expense: $32,544
  • Electric: $1,272
  • Gas/Fuel: $0
  • Licenses: $504
  • New Taxes: $20,400
  • Trash: $0
  • Gardener: $1,500
  • Insurance: $1,500
  • Professional Management: $5,736
  • Water/Sewer: $972

Property Details for 118 Orange Ave

Interior Features
Cooling Information
  • No Cooling
  • None
Heating Information
  • Has Heating
  • Wall Furnace
Laundry Information
  • Has Laundry
  • Common Area, Dryer Included, Washer Included
Fireplace Information
  • Has Fireplace
  • Bath, Kitchen, Living Room, Master Bedroom
Room Information
  • Flooring: Laminate, Tile
Kitchen Information
  • Has Appliances
  • Disposal, Gas Oven, Gas Water Heater, Range Hood, Refrigerator, Water Heater
Exterior Features
Exterior Information
  • Roof: Flat, Reflective
  • Has Fence
  • Wrought Iron
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Garage Spaces: 9
  • # of Parking Spaces: 9
  • Has Parking
  • Parking Features: Assigned
Lot Information
  • Lot Features: Landscaped, Rectangular Lot, Sprinkler System, Sprinklers In Front, Sprinklers Timer, Yard
  • Lot Size Source: Assessor
  • Common Interest: None
Property Information
  • Common Walls: 2+ Common Walls
  • Total # of Units: 4
  • Parcel Number: 7265011022
  • Year Built Source: Assessor
  • Property is Attached
Homeowners Association, Utilities, Taxes / Assessments
Homeowners Association
  • Is Not Part of Association
Utilities Information
  • Sewer: Public Sewer
  • Water Source: Public
  • Utilities: Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
Location / Neighborhood
Location Information
  • Subdivision Name: Alamitos Beach (AB)
  • Directions: East Of Ocean Blvd West of 2nd St
  • Road Frontage Type: City Street
  • Road Surface Type: Paved
Neighborhood Information
  • Community Features: Curbs, Gutters, Sidewalks
View more facts & features

Local Long Beach Agent

Sale History for 118 Orange Ave

Last sold for $1,700,000 on June 29th, 2022

  • June, 2022

  • Jun 29, 2022

    Date

    Sold

    CRMLS: DW22070397

    $1,700,000

    Price

  • Apr 7, 2022

    Date

    Active

    CRMLS: DW22070397

    $1,700,000

    Price

  • February, 2007

  • Feb 1, 2007

    Date

    Sold (Public Records)

    Public Records

    $1,025,000

    Price

  • October, 2005

  • Oct 28, 2005

    Date

    Sold (Public Records)

    Public Records

    $3,200,000

    Price

Show More

Tax History for 118 Orange Ave

Assessed Value (2020): $1,256,403
Year Land Value Improved Value Assessed Value
2020 $857,541 $398,862 $1,256,403

Home Value Compared to the Market

This property vs the competition

118 Orange Ave sold on June 29, 2022 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 $655.86 per/sqft which puts the price per square foot 3.78% higher than the current median sale per square foot for the city of Long Beach.

About 118 Orange Ave

Detailed summary of property

118 Orange Ave is a fourplex that recently sold in Long Beach, CA 90802. This fourplex offered 4 bedrooms, 4 bathrooms, roughly 2,592 living square feet, and sits on an approximately 4,996 square foot lot. 118 Orange Ave was first listed on ArdentRealEstateGroup.com on April 7, 2022. The homeowner sold the property for $1,700,000. 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 720 Coronado Ave, 1716 Locust Ave and 1526 Cedar Ave. While the average home in Long Beach, CA is selling in 51 days, 118 Orange Ave has a days on market of 21 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 118 Orange Ave 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 118 Orange Ave

Public county record property details
Beds
4
Baths
5
Year built
1935
Sq. Ft.
2,592
Lot Size
4,984
Stories
--
Type
Quadruplex (4 Units, Any Combination)
Pool
No
Spa
No
County
Los Angeles
Lot#
18
APN
7265-011-022

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
37
Loan Type
Conventional (51.52%), FHA (3.03%), VA (3.03%), Cash (24.24%), Other (15.15%)

Thinking of Selling?

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Thinking of Selling?
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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.

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