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220 E 57Th St, Long Beach, CA 90805
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220 E 57Th St Long Beach, CA 90805

$1,850,000 Sold Price as of 04/11/2024
  • 10 Beds
  • 10 Baths
  • 4,681 Sq.Ft.
Sold
$1,850,000 Sold Price as of 04/11/2024 Refinance Your Mortgage
Map preview of 220 E 57Th St, Long Beach, CA 90805

Property Overview: 220 E 57Th St Long Beach, CA has 10 bedrooms, 10 bathrooms, 4,681 living square feet and 6,647 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: New Price! Take advantage of this great opportunity on this 10-Unit apartment building just north of Bixby Knolls in North Long Beach. Brand-new dual pane vinyl windows just installed throughout, over $30k spent, entire exterior building just painted, over $10k spent. Eight (8) One bedroom/one-bathroom units and One (1) Two-bedroom/one-bathroom unit, and One (1) Studio; all separately metered for gas and electric. Some units have been updated as they have come available. Room to increase rents on several units! $174,418 GSI with rents, garages and laundry income. Private courtyard area with grass area, sprinklers and professionally landscaped. On-site laundry room as well as 7 garages which earn added income. (Garages are charged separately $75/garage.) Studio (10th unit) per tax records, is not permitted as a unit. If buyer desires to permit it after purchase, plans have already been submitted and approved by the city with an extension, to convert studio and 2 garage spaces, to a 516 sq/ft ADU. Also included are additional plans (not submitted to the city) to convert 4 additional garage spaces to 697 sq/ft ADU with the potential of making 57th Street a 11-unit building. ADU plans are available upon request. Please do not disturb the tenants.

Listed by Blair Newman | BRE #01459316 | Berkshire Hathaway HomeServices California Properties
Last checked: 20 minutes ago | Last updated: April 12th, 2024 | Source CRMLS | DOM: 161

Home details

Lot Sq. Ft
6,647
HOA Dues
$0/mo
Year built
1961
Garage
7 Car
Property Type:
Mixed Use
Status
Sold
MLS#
PW23181804
City
Long Beach
County
Los Angeles
Time on Site
219 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 9
  • Total # of Buildings: 1
  • # of Leased Units: 8
  • # of Electric Meters: 10
  • # of Gas Meters: 10
  • # of Water Meters: 1
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 0
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Total Rent: $0
  • Pro Forma/Market Rent: $400
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,795
  • Total Rent: $1,795
  • Pro Forma/Market Rent: $1,700
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,217
  • Total Rent: $1,217
  • Pro Forma/Market Rent: $1,700
Unit Breakdown 4
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,631
  • Total Rent: $1,631
  • Pro Forma/Market Rent: $1,700
Unit Breakdown 5
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,132
  • Total Rent: $1,132
  • Pro Forma/Market Rent: $1,700
Unit Breakdown 6
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,525
  • Total Rent: $1,525
  • Pro Forma/Market Rent: $1,700
Unit Breakdown 7
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,516
  • Total Rent: $1,516
  • Pro Forma/Market Rent: $1,700
Unit Breakdown 8
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,495
  • Total Rent: $1,495
  • Pro Forma/Market Rent: $1,700
Unit Breakdown 9
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,234
  • Total Rent: $1,234
  • Pro Forma/Market Rent: $1,700
Unit Breakdown 10
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,795
  • Total Rent: $1,795
  • Pro Forma/Market Rent: $1,895
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 5.7%
  • Gross Rent Multiplier: 11.9
  • Gross Scheduled Income: $174,418
  • Net Operating Income: $119,505
  • Gross Operating Income: $169,185
  • Vacancy Allowance: $5,228
  • # of Rented Garages: 3
  • Garage Rental Rate: $75
  • Garage Rental Income: $6,300
  • Laundry Income: $1,209
  • Laundry Own/Lease: Lease
Annual Expense Breakdown
  • Total Operating Expense: $49,680
  • Licenses: $908
  • New Taxes: $28,994
  • Trash: $0
  • Gardener: $1,773
  • Insurance: $5,623
  • Maintenance: $21,795
  • Professional Management: $12,741
  • Water/Sewer: $0
  • Other Expenses: $6,210
  • Other Expense Description: Utilitie

Property Details for 220 E 57Th St

Interior Features
Cooling Information
  • No Cooling
  • None
Heating Information
  • Has Heating
  • Wall Furnace
Laundry Information
  • Has Laundry
  • Common Area, See Remarks
Room Information
  • Flooring: Carpet, Vinyl
Interior Features
  • Levels: Two
Exterior Features
Exterior Information
  • Roof: Flat
  • Has Fence
  • Block
  • No Spa
  • Spa Features: None
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Garage Spaces: 7
  • # of Parking Spaces: 7
  • Has Parking
  • Parking Features: Assigned, Garage, Garage - Single Door
Lot Information
  • Lot Features: Corner Lot, Lawn, Sprinkler System
  • Lot Size Source: Assessor
  • Common Interest: None
Property Information
  • No View
  • View: None
  • Common Walls: 2+ Common Walls
  • Total # of Units: 9
  • Parcel Number: 7126012007
  • Year Built Source: Assessor
  • Entry Level: 1
  • Property is Attached
Homeowners Association, Utilities, Taxes / Assessments
Utilities Information
  • Sewer: Public Sewer
  • Water Source: Public
Location / Neighborhood
Location Information
  • Directions: From Long Beach Blvd. Head East on Ellis St. Turn left on Dairy Ave. Turn Right on 57th St. Apartment building will be on your right.
Neighborhood Information
  • Community Features: Sidewalks, Street Lights
View more facts & features

Local Long Beach Agent

Sale History for 220 E 57Th St

Last sold for $1,850,000 on April 11th, 2024

  • April, 2024

  • Apr 11, 2024

    Date

    Sold

    CRMLS: PW23181804

    $1,850,000

    Price

  • Sep 29, 2023

    Date

    Active

    CRMLS: PW23181804

    $2,250,000

    Price

  • December, 2015

  • Dec 11, 2015

    Date

    Sold (Public Records)

    Public Records

    $1,003,500

    Price

  • April, 2009

  • Apr 21, 2009

    Date

    Sold (Public Records)

    Public Records

    --

    Price

Show More

Tax History for 220 E 57Th St

Assessed Value (2020): $1,086,986
Year Land Value Improved Value Assessed Value
2020 $230,665 $856,321 $1,086,986

Home Value Compared to the Market

This property vs the competition

220 E 57Th St sold on April 11, 2024 for 149.99% 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 $427.24 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 220 E 57Th St

Detailed summary of property

220 E 57Th St is a mixed use that recently sold in Long Beach, CA 90805. This mixed use property offered 10 bedrooms, 10 bathrooms, roughly 4,681 living square feet, and sits on an approximately 6,647 square foot lot. 220 E 57Th St was first listed on ArdentRealEstateGroup.com on September 29, 2023. The homeowner sold the property for $1,850,000. 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 149.99% higher than the current median priced home. Local homes that are currently for sale include 755 S Boyle Ave, 2630 E 1St St and 234 S Knott Ave. While the average home in Long Beach, CA is selling in 54 days, 220 E 57Th St has a days on market of 161 days. There are currently 610 homes for sale in the Long Beach real estate market and 349 of them are single family homes while 248 of them are condos and 13 are townhomes. For more information on this home for sale at 220 E 57Th St Long Beach, CA 90805 contact Ardent Real Estate Group and we will put you in touch with one of our Long Beach agents.

Public Facts for 220 E 57Th St

Public county record property details
Beds
10
Baths
9
Year built
1961
Sq. Ft.
4,915
Lot Size
6,645
Stories
--
Type
Apartment House (5+ Units)
Pool
Yes
Spa
No
County
Los Angeles
Lot#
11,12
APN
7126-012-007

The source for these homes facts are from public records.

90805 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$679,999
Median List Price/Sq.Ft.
$537
Median Sold Price
$720,000
Median Sold Price/Sq.Ft.
$564
Total Inventory
60
Median Sale to List Price %
101.69%
Avg Days on Market
26
Loan Type
Conventional (47.83%), FHA (17.39%), VA (4.35%), Cash (13.04%), Other (17.39%)

Thinking of Selling?

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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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