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1532 Pacific Ave Long Beach, CA 90813

$1,000,000 Sold Price as of 06/20/2019

10 Beds
4 Baths
3,360 Sq.Ft.

Sold

$1,000,000 Sold Price as of 06/20/2019 Refinance Your Mortgage

Map preview of 1532 Pacific Ave, Long Beach, CA 90813

Property Overview: 1532 Pacific Ave Long Beach, CA has 10 bedrooms, 4 bathrooms, 3,360 living square feet and 7,592 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: BEST DEAL in Long Beach. 4 plex across from Washington Middle School with over 4000 square feet of raw land. 3300 square foot building in the front has the property cash flowing at a current 5.6% cap rate, rent upside to a 7-8% cap rate. Great unit mix, building has (2) 3 bed/1 bath units and (2) 2 bed/1 bath units. Prime location, less than a mile to PCH and downtown Long Beach. All tenants on a month to month lease.

Listed by Christian Milner | BRE #02059572 | Lyon Stahl Investment Real Estate, Inc.
Co-listed by Cameron Samimi | BRE #02035763 | Lyon Stahl Investment Real Estate, Inc.

Last checked: 11 minutes ago | Last updated: March 22nd, 2022 | Source CRMLS | DOM: 55

Home details

Lot Sq. Ft: 7,592
HOA Dues: $0/mo
Year built: 1923
Garage: --
Property Type:: Multi Family

Status: Sold
MLS#: SB19067377
City: Long Beach
County: Los Angeles
Time on Site: 1521 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: 4

Unit Breakdown 1

# of Units: 2
# of Beds: 2
# of Baths: 1
Garage Spaces: 0
Garaged Attached? No
Furnishing: Unfurnished
Actual Rent: $1,350
Total Rent: $2,700
Pro Forma/Market Rent: $1,500

Unit Breakdown 2

# of Units: 1
# of Beds: 3
# of Baths: 1
Garage Spaces: 0
Garaged Attached? No
Furnishing: Unfurnished
Actual Rent: $1,750
Total Rent: $3,965
Pro Forma/Market Rent: $2,400

Unit Breakdown 3

# of Units: 1
# of Beds: 3
# of Baths: 1
Garage Spaces: 0
Garaged Attached? No
Furnishing: Unfurnished
Actual Rent: $2,215
Total Rent: $3,965
Pro Forma/Market Rent: $2,400

Multi-Family Income/Expense Information

Property Income and Analysis

Cap Rate: 5.1%
Gross Rent Multiplier: 13.57
Gross Scheduled Income: $79,980
Net Operating Income: $57,825
Gross Operating Income: --

Annual Expense Breakdown

Total Operating Expense: $19,756
Electric: $640
Gas/Fuel: $640
New Taxes: $12,813
Trash: $640
Insurance: $640
Water/Sewer: $640

Property Details for 1532 Pacific Ave

Interior Features

Laundry Information

No Laundry
None

Exterior Features

No Pool
Pool Features: None

Lot Details / Garage and Parking

Parking/Garage Information

Has Parking
Parking Features: Unpaved

Lot Information

Lot Features: 2-5 Units/Acre, Lot 6500-9999
Lot Size Source: Assessor

Property Information

Common Walls: No Common Walls
Total # of Units: 4
Year Built Source: Public Records
Property is not Attached

Homeowners Association, Utilities, Taxes / Assessments

Utilities Information

Sewer: Unknown
Water Source: Public

Location / Neighborhood

Location Information

Subdivision Name: Wrigley Area (WR)
Directions: On Pacific Ave, across from Washington Middle School, between Anaheim and PCH

Neighborhood Information

Community Features: Sidewalks

View more facts & features

Local Long Beach Agent

Sale History for 1532 Pacific Ave

Last sold for $1,000,000 on June 20th, 2019

June, 2019
Jun 20, 2019

Date

Sold

CRMLS: SB19067377

$1,000,000

Price
May 22, 2019

Date

Active Under Contract

CRMLS: SB19067377

$1,025,000

Price
May 2, 2019

Date

Price Change

CRMLS: SB19067377

$1,025,000

Price
Mar 26, 2019

Date

Active

CRMLS: SB19067377

$1,050,000

Price
June, 2019
Jun 17, 2019

Date

Sold (Public Records)

Public Records

$1,000,000

Price
August, 2004
Aug 4, 2004

Date

Sold (Public Records)

Public Records

$660,000

Price

Tax History for 1532 Pacific Ave

Assessed Value (2020): $1,020,000

Year	Land Value	Improved Value	Assessed Value
2020	$510,000	$510,000	$1,020,000

Home Value Compared to the Market

This property vs the competition

1532 Pacific Ave sold on June 20, 2019 for 25.15% 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 $305.06 per/sqft which puts the price per square foot 51.42% lower than the current median sale per square foot for the city of Long Beach.

About 1532 Pacific Ave

Detailed summary of property

1532 Pacific Ave is a multi family that recently sold in Long Beach, CA 90813. This multi family property offered 10 bedrooms, 4 bathrooms, roughly 3,360 living square feet, and sits on an approximately 7,592 square foot lot. 1532 Pacific Ave was first listed on ArdentRealEstateGroup.com on July 21, 2020. The homeowner sold the property for $1,000,000. 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 25.15% higher than the current median priced home. Local homes that are currently for sale include 1125 E 17th St, 1339 Peterson Ave and 2030 E Spaulding Way. While the average home in Long Beach, CA is selling in 62 days, 1532 Pacific Ave has a days on market of 55 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 1532 Pacific 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 1532 Pacific Ave

Public county record property details

Beds: 8
Baths: 4
Year built: 1923
Sq. Ft.: 3,360
Lot Size: 7,591
Stories: --

Type: Apartment House (5+ Units)
Pool: No
Spa: No
County: Los Angeles
Lot#: 8
APN: 7269-007-023

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

Median Sale to List Price %

99.02%

Avg Days on Market

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.