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1202 Mahanna Ave, Long Beach, CA 90813
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1202 Mahanna Ave Long Beach, CA 90813

$1,675,000 Sold Price as of 11/02/2020
  • 6 Beds
  • 6 Baths
  • 4,000 Sq.Ft.
Sold
$1,675,000 Sold Price as of 11/02/2020 Refinance Your Mortgage
Map preview of 1202 Mahanna Ave, Long Beach, CA 90813

Property Overview: 1202 Mahanna Ave Long Beach, CA has 6 bedrooms, 6 bathrooms, 4,000 living square feet and 11,988 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: Back On The Market! Perfect Mid-Century Modern Revival Income Property That Is 100% Occupied & Loaded With Potential! 3D Matterport: https://my.matterport.com/show/?m=ZY9zjE1ZRuy&brand=0 Turnkey six unit complex in the heart of a dense rental population in downtown Long Beach, CA. Unit rent is setting the new standard in 90813. The newly renovated building consists of six spacious units, with each unit comprised of over 665 square feet in total space. The property consists of a double lot - totaling close to 12,000 square feet, creating a phenomenal asset at a time when the area close to the water is becoming extremely rare to come by. The larger lot creates an expansive space in the back of the property, where there is room enough for seven uncovered parking spots in total. Each unit is similar in design and quality, creating an ease in finding potential renters to fill the building at all times. Every unit has side by side laundry located in the unit. Vinyl flooring throughout each unit. The kitchen in each unit is equipped with new quartz countertops and shaker cabinets. Each unit has canned lighting in the ceiling, and walls and windows are in perfect condition. In addition to the uncovered spots, there is a 2 car garage on the property that could be rented out for $300 per month, as well as two one car garages that could be rented out for an additional $150 per garage. Located in a strong rental market capable of capturing a huge potential upside in rents.

Listed by Jeff Warren | BRE #02040656 | First Team Real Estate
Last checked: 7 minutes ago | Last updated: March 22nd, 2022 | Source CRMLS | DOM: 74

Home details

Lot Sq. Ft
11,988
HOA Dues
$0/mo
Year built
1947
Garage
4 Car
Property Type:
Multi Family
Status
Sold
MLS#
PW20103272
City
Long Beach
County
Los Angeles
Time on Site
1521 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 6
  • Total # of Buildings: 1
  • # of Leased Units: 6
  • # of Electric Meters: 6
  • # of Gas Meters: 6
  • # of Water Meters: 1
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,700
  • Total Rent: $1,700
  • Pro Forma/Market Rent: $1,800
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,700
  • Total Rent: $1,700
  • Pro Forma/Market Rent: $1,800
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,700
  • Total Rent: $1,700
  • Pro Forma/Market Rent: $1,700
Unit Breakdown 4
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,427
  • Total Rent: $1,427
  • Pro Forma/Market Rent: $1,700
Unit Breakdown 5
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,700
  • Total Rent: $1,700
  • Pro Forma/Market Rent: $1,800
Unit Breakdown 6
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,700
  • Total Rent: $1,700
  • Pro Forma/Market Rent: $1,800
Multi-Family Income/Expense Information
Property Income and Analysis
  • Gross Rent Multiplier: --
  • Gross Scheduled Income: $119,124
  • Net Operating Income: $95,220
  • Gross Operating Income: --
Annual Expense Breakdown
  • Total Operating Expense: $23,904
  • New Taxes: $14,484
  • Trash: $500
  • Insurance: $2,200
  • Professional Management: $2,040
  • Water/Sewer: $1,600

Virtual Tour

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Property Details for 1202 Mahanna Ave

Interior Features
Laundry Information
  • Has Laundry
  • Gas Dryer Hookup, Inside, Washer Hookup
Room Information
  • Flooring: Vinyl
  • All Bedrooms Down
Kitchen Information
  • Has Appliances
  • Disposal, Microwave
Interior Features
  • Levels: One
Exterior Features
Exterior Information
  • Has Fence
  • Wood
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Garage Spaces: 4
  • # of Parking Spaces: 11
  • Has Parking
  • Parking Features: Assigned, Garage, Garage - Single Door, Garage - Two Door, Garage Door Opener
Lot Information
  • Lot Features: Front Yard
  • Lot Size Source: Assessor
  • Common Interest: None
Property Information
  • Common Walls: No Common Walls
  • Total # of Units: 6
  • Parcel Number: 7267002018
  • Year Built Source: Assessor
  • Architectural Style: Mid Century Modern
  • Property is not Attached
  • Offered With Property: Stove, Microwave, Dishwasher - In Each Unit
  • Property Condition: Turnkey, Updated/Remodeled
Homeowners Association, Utilities, Taxes / Assessments
Utilities Information
  • Sewer: Public Sewer
  • Water Source: Public
Location / Neighborhood
Location Information
  • Subdivision Name: Downtown (DT)
  • Directions: Head E on Anaheim, turn L on Mahanna, Property is on the Left.
Neighborhood Information
  • Community Features: Sidewalks, Urban
View more facts & features

Local Long Beach Agent

Sale History for 1202 Mahanna Ave

Last sold for $1,675,000 on November 2nd, 2020

  • November, 2020

  • Nov 4, 2020

    Date

    Sold

    CRMLS: PW20103272

    $1,675,000

    Price

  • Oct 31, 2020

    Date

    Pending

    CRMLS: PW20103272

    $1,698,000

    Price

  • Aug 27, 2020

    Date

    Active Under Contract

    CRMLS: PW20103272

    $1,698,000

    Price

  • Jun 10, 2020

    Date

    Active

    CRMLS: PW20103272

    $1,698,000

    Price

  • Jun 8, 2020

    Date

    Withdrawn

    CRMLS: PW20103272

    $1,698,000

    Price

  • Jun 3, 2020

    Date

    Hold

    CRMLS: PW20103272

    $1,698,000

    Price

  • May 30, 2020

    Date

    Active

    CRMLS: PW20103272

    $1,698,000

    Price

  • November, 2020

  • Nov 2, 2020

    Date

    Sold (Public Records)

    Public Records

    $1,675,000

    Price

  • October, 2020

  • Oct 28, 2020

    Date

    Sold (Public Records)

    Public Records

    --

    Price

  • May, 2020

  • May 29, 2020

    Date

    Canceled

    CRMLS: PW20045862

    $1,698,000

    Price

  • Apr 1, 2020

    Date

    Hold

    CRMLS: PW20045862

    $1,698,000

    Price

  • Apr 1, 2020

    Date

    Active

    CRMLS: PW20045862

    $1,698,000

    Price

  • Mar 21, 2020

    Date

    Hold

    CRMLS: PW20045862

    $1,698,000

    Price

  • Mar 3, 2020

    Date

    Active

    CRMLS: PW20045862

    $1,698,000

    Price

  • Listing provided courtesy of CRMLS

    Rare and unique mid-century modern revival with six units! Turnkey six unit complex in the heart of a dense rental population in downtown Long Beach, CA. The newly renovated building consists of six spacious units, with each unit comprised of over 665 square feet in total space. The property consists of a double lot - totaling close to 12,000 square feet, creating a phenomenal asset at a time when the area close to the water is becoming extremely rare to come by. The larger lot creates an expansive space in the back of the property, where there is room enough for seven uncovered parking spots in total. Each unit is similar in design and quality, creating an ease in finding potential renters to fill the building at all times. Every unit has side by side laundry located in the unit. Vinyl flooring throughout each unit. The kitchen in each unit is equipped with new quartz countertops and shaker cabinets. Each unit has canned lighting in the ceiling, and walls and windows are in perfect condition. In addition to the uncovered spots, there is a 2 car garage on the property that could be rented out for $300 per month, as well as two one car garages that could be rented out for an additional $150 per garage. Located in a strong rental market capable of capturing a huge potential upside in rents. Pro Forma GSI is $129,600 yearly with minimal maintenance costs for years to come! The perfect passive income asset for a strong, diversified portfolio with a great cap rate & GRM.

  • July, 2019

  • Jul 26, 2019

    Date

    Sold

    CRMLS: OC19146414

    $1,207,000

    Price

  • Jun 29, 2019

    Date

    Active Under Contract

    CRMLS: OC19146414

    $1,249,000

    Price

  • Jun 20, 2019

    Date

    Active

    CRMLS: OC19146414

    $1,249,000

    Price

  • Listing provided courtesy of CRMLS

    The building was constructed in 1947 is 100% single story with individual entries and patios. All units are large floor plan one-bedroom one-bathroom units. The lot size is abnormally large boasting 11,988 square feet. Such a large lot allows for an abundant amount of gated parking: ten (10) total spaces consisting of two (2) garage parking spaces and eight (8) open assigned spaces. The building is master metered for water, but separately metered for Gas and Electricity. The building has also been heavily remodeled over the past two years with a new roof, new garage door, new vinyl windows and remodeled interiors.

  • May, 2019

  • May 23, 2019

    Date

    Canceled

    CRMLS: OC19014250

    $1,350,000

    Price

  • Jan 19, 2019

    Date

    Active

    CRMLS: OC19014250

    $1,350,000

    Price

  • Listing provided courtesy of CRMLS

    This Multi-Family Investment opportunity is located in Long Beach California. The assets are located near the Alamitos Avenue and East Anaheim Street intersection which are major transportation corridors boasting very high traffic counts making access to employment very attractive for tenants. Property has been recently upgraded with new roofs, dual pane windows, fresh paint and several units have been renovated with a granite package in the kitchens and bathrooms. This building has almost market rent insulating it from the issues of rent control. The 10% increase will add over $9,300 per year.

  • January, 2019

  • Jan 25, 2019

    Date

    Canceled

    CRMLS: PW19012034

    $1,350,000

    Price

  • Jan 17, 2019

    Date

    Withdrawn

    CRMLS: PW19012034

    $1,350,000

    Price

  • Jan 16, 2019

    Date

    Active

    CRMLS: PW19012034

    $1,350,000

    Price

  • Listing provided courtesy of CRMLS

    The building was constructed in 1947 is 100% single story with individual entries and patios. All units are large floor plan one-bedroom one-bathroom units. The lot size is abnormally large boasting 11,988 square feet. Such a large lot allows for an abundant amount of gated parking: ten (10) total spaces consisting of two (2) garage parking spaces and eight (8) open assigned spaces. The building is master metered for water, but separately metered for Gas and Electricity. The building has also been heavily remodeled over the past two years with a new roof, new garage door, new vinyl windows and remodeled interiors.

  • June, 2018

  • Jun 22, 2018

    Date

    Canceled

    CRMLS: PW18073889

    $1,350,000

    Price

  • Apr 17, 2018

    Date

    Withdrawn

    CRMLS: PW18073889

    $1,350,000

    Price

  • Apr 2, 2018

    Date

    Active

    CRMLS: PW18073889

    $1,350,000

    Price

  • Listing provided courtesy of CRMLS

    *Strong Long Beach Rental Market, *100% Single Story Construction, *Gated Entry & Privacy Screen Doors, *Separately Metered for Gas & Electricity, *New Roof, Some Remodeled Units, *(2) Garage Parking Spaces & (8) Assigned Parking Spaces, *5.0% CAP on Current Rents

Show More

Tax History for 1202 Mahanna Ave

Assessed Value (2020): $1,207,000
Year Land Value Improved Value Assessed Value
2020 $780,000 $427,000 $1,207,000

Home Value Compared to the Market

This property vs the competition

1202 Mahanna Ave sold on November 2, 2020 for 107.33% higher than the current median sold price for the city of Long Beach which is $819,000. The median sold price per/sqft for Long Beach is $628 and this home is sold at $424.5 per/sqft which puts the price per square foot 32.4% lower than the current median sale per square foot for the city of Long Beach.

About 1202 Mahanna Ave

Detailed summary of property

1202 Mahanna Ave is a multi family that recently sold in Long Beach, CA 90813. This multi family property offered 6 bedrooms, 6 bathrooms, roughly 4,000 living square feet, and sits on an approximately 11,988 square foot lot. 1202 Mahanna Ave was first listed on ArdentRealEstateGroup.com on July 21, 2020. The homeowner sold the property for $1,675,000. Home in Long Beach are selling for a median price of $819,000 and a median price per square foot of $628. Based on Ardent Real Estate Group's Long Beach Market Data, this home is sold 107.33% higher than the current median priced home. Local homes that are currently for sale include 1717 Temple Ave, 1021 Pacific Ave and 3041 E 5th St. While the average home in Long Beach, CA is selling in 62 days, 1202 Mahanna Ave has a days on market of 74 days. There are currently 778 homes for sale in the Long Beach real estate market and 416 of them are single family homes while 337 of them are condos and 23 are townhomes. For more information on this home for sale at 1202 Mahanna Ave 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 1202 Mahanna Ave

Public county record property details
Beds
6
Baths
6
Year built
1947
Sq. Ft.
4,000
Lot Size
11,988
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
5
APN
7267-002-018

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
$560,000
Median List Price/Sq.Ft.
$553
Median Sold Price
$495,000
Median Sold Price/Sq.Ft.
$587
Total Inventory
35
Median Sale to List Price %
99.02%
Avg Days on Market
24
Loan Type
Conventional (100%), FHA (0%), VA (0%), Cash (0%), 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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