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1241 E Wesley Dr, Long Beach, CA 90806
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1241 E Wesley Dr Long Beach, CA 90806

$845,000 Sold Price as of 08/31/2021
  • 6 Beds
  • 5 Baths
  • 2,576 Sq.Ft.
Sold
$845,000 Sold Price as of 08/31/2021 Refinance Your Mortgage
Map preview of 1241 E Wesley Dr, Long Beach, CA 90806

Property Overview: 1241 E Wesley Dr Long Beach, CA has 6 bedrooms, 5 bathrooms, 2,576 living square feet and 6,534 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: Five unit investment property located within an Opportunity Zone of Long Beach. Listed for a modest $160,000 per unit, this late 1920's construction property consists of six bedrooms and five bathrooms. Every unit stands independent, with no common walls. Four buildings provide one bedroom and one bathroom each. The fifth building, located at the rear of the property, contains two bedrooms and one bathroom. Units are separately metered for gas and electricity. Renovations have included over half of the windows being replaced with double-pane windows and roofs are five years new. Rear alleyway access provides the opportunity to create a minimum of 5 personal parking spaces for tenants. With additional renovations, and the substantial rental upside potential, investors could net an 8.20% cap rate at market rents. *SOLD AS-IS* **DO NOT DISTURB TENANTS**

Listed by John McCann | BRE #01963932 | Lyon Stahl Investment Real Estate, Inc.
Co-listed by Marissa Case | BRE #02099936 | Lyon Stahl Investment Real Estate, Inc.
Last checked: 7 minutes ago | Last updated: March 22nd, 2022 | Source CRMLS | DOM: 19

Home details

Lot Sq. Ft
6,534
HOA Dues
$0/mo
Year built
1929
Garage
--
Property Type:
Multi Family
Status
Sold
MLS#
21763586
City
Long Beach
County
Los Angeles
Time on Site
1155 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 5
  • Total # of Buildings: 5
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $515
  • Total Rent: $515
  • Pro Forma/Market Rent: $1,750
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $685
  • Total Rent: $685
  • Pro Forma/Market Rent: $1,350
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $680
  • Total Rent: $680
  • Pro Forma/Market Rent: $1,350
Unit Breakdown 4
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $665
  • Total Rent: $665
  • Pro Forma/Market Rent: $1,350
Unit Breakdown 5
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $755
  • Total Rent: $755
  • Pro Forma/Market Rent: $1,350
Multi-Family Income/Expense Information
Property Income and Analysis
  • Gross Rent Multiplier: 20.2
  • Gross Scheduled Income: --
  • Net Operating Income: $20,791
  • Gross Operating Income: $38,412
Annual Expense Breakdown
  • Total Operating Expense: --

Property Details for 1241 E Wesley Dr

Interior Features
Heating Information
  • Has Heating
  • Wall Furnace
Lot Details / Garage and Parking
Parking/Garage Information
  • Has Parking
  • Parking Features: Public, Concrete
Lot Information
  • Lot Size Source: Assessor
Property Information
  • Total # of Units: 5
  • Parcel Number: 7210040007
  • Architectural Style: Bungalow
  • Property Condition: Fixer
Location / Neighborhood
Location Information
  • Directions: Major cross streets are Orange Ave & PCH. Access easily from Orange Ave, south of Hill St, north of PCH. Property is located north of Long Beach City College Pacific Coast Campus.
View more facts & features

Local Long Beach Agent

Sale History for 1241 E Wesley Dr

Last sold for $845,000 on August 31st, 2021

  • August, 2021

  • Aug 31, 2021

    Date

    Sold

    CRMLS: 21763586

    $845,000

    Price

  • Aug 9, 2021

    Date

    Pending

    CRMLS: 21763586

    $800,000

    Price

  • Jul 21, 2021

    Date

    Active

    CRMLS: 21763586

    $800,000

    Price

Tax History for 1241 E Wesley Dr

Assessed Value (2020): $317,409
Year Land Value Improved Value Assessed Value
2020 $114,948 $202,461 $317,409

Home Value Compared to the Market

This property vs the competition

1241 E Wesley Dr sold on August 31, 2021 for 2.32% lower 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 $310.56 per/sqft which puts the price per square foot 50.55% lower than the current median sale per square foot for the city of Long Beach.

About 1241 E Wesley Dr

Detailed summary of property

1241 E Wesley Dr is a multi family that recently sold in Long Beach, CA 90806. This multi family property offered 6 bedrooms, 5 bathrooms, roughly 2,576 living square feet, and sits on an approximately 6,534 square foot lot. 1241 E Wesley Dr was first listed on ArdentRealEstateGroup.com on July 21, 2021. The homeowner sold the property for $845,000. 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 2.32% lower than the current median priced home. Local homes that are currently for sale include 3409 Walnut Ave, 3409 Walnut Ave and 1746 E Florida St. While the average home in Long Beach, CA is selling in 62 days, 1241 E Wesley Dr has a days on market of 19 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 1241 E Wesley Dr Long Beach, CA 90806 contact Ardent Real Estate Group and we will put you in touch with one of our Long Beach agents.

Public Facts for 1241 E Wesley Dr

Public county record property details
Beds
6
Baths
5
Year built
1929
Sq. Ft.
2,576
Lot Size
6,534
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
6
APN
7210-040-007

The source for these homes facts are from public records.

90806 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$749,900
Median List Price/Sq.Ft.
$531
Median Sold Price
$920,000
Median Sold Price/Sq.Ft.
$534
Total Inventory
20
Median Sale to List Price %
100%
Avg Days on Market
36
Loan Type
Conventional (100%), FHA (0%), VA (0%), Cash (0%), Other (0%)

Thinking of Selling?

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Homes for Sale Near 1241 E Wesley Dr

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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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