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310 W 8th St Long Beach, CA 90813

$3,175,000 Sold Price as of 01/14/2021

14 Beds
10 Baths
8,945 Sq.Ft.

Sold

$3,175,000 Sold Price as of 01/14/2021 Refinance Your Mortgage

Map preview of 310 W 8th St, Long Beach, CA 90813

Property Overview: 310 W 8th St Long Beach, CA has 14 bedrooms, 10 bathrooms, 8,945 living square feet and 7,504 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: 310 W. 8th Street in a meticulously renovated investment asset in up-and-coming Willmore City Historic District in booming Downtown Long Beach. The property offers ten spacious, bright one and two-bedroom units with open floor plans. Nine of the ten units have been completely renovated with recessed lighting, in-unit washer/dryers and high- end fixtures and finishes throughout. Exterior renovations include fresh paint, drought-resistant landscaping and stunning modern lighting, all providing incredible curb appeal. The building's electrical and plumbing systems have been updated. Eight parking spaces comprised of four garages and four tandem spaces, as well as newly built storage units provide additional income. With a Walkscore of 90, the property is conveniently accessible to copious employment opportunities and all of the shopping, dining and nightlife amenities available in thriving Downtown Long Beach. Additionally, the 7th Street entrance to the 710 freeway is just around the corner, providing quick and easy access out of the city. 310 W. 8th Street offers a new buyer a turn-key asset in a rapidly changing and dynamic Downtown Long Beach location, with 8%+/- rental upside potential by renovating the 10th unit and leveling rents.

Listed by Robert Stepp | BRE #01456379 | Keller Williams - Santa Monica
Co-listed by Mark Witsken | BRE #01884724 | Keller Williams-Santa Monica

Last checked: 2 minutes ago | Last updated: December 28th, 2022 | Source CRMLS | DOM: 213

Home details

Lot Sq. Ft: 7,504
HOA Dues: $0/mo
Year built: 1929
Garage: 4 Car
Property Type:: Multi Family

Status: Sold
MLS#: PW20018427
City: Long Beach
County: Los Angeles
Time on Site: 1217 days

Multi-Family Unit Breakdown

Unit Mix Summary

Total # of Units: 10
Total # of Buildings: 3
# of Electric Meters: 10
# of Gas Meters: 10
# of Water Meters: 1

Unit Breakdown 1

# of Units: 4
# of Beds: 2
# of Baths: 1
Garage Spaces: 0
Garaged Attached? No
Furnishing: Unfurnished
Actual Rent: $2,349
Total Rent: $9,396
Pro Forma/Market Rent: $2,500

Unit Breakdown 2

# of Units: 6
# of Beds: 1
# of Baths: 1
Garage Spaces: 0
Garaged Attached? No
Furnishing: Unfurnished
Actual Rent: $1,726
Total Rent: $10,356
Pro Forma/Market Rent: $1,855

Multi-Family Income/Expense Information

Property Income and Analysis

Gross Rent Multiplier: --
Gross Scheduled Income: $246,300
Net Operating Income: $163,110
Gross Operating Income: --

Annual Expense Breakdown

Total Operating Expense: $70,875
Electric: $1,500
Gas/Fuel: $1,500
Licenses: $500
New Taxes: $41,748
Trash: $1,500
Gardener: $600
Insurance: $3,578
Maintenance: $4,500
Professional Management: $11,699
Water/Sewer: $1,500
Other Expenses: $1,750
Other Expense Description: Reserves

Property Details for 310 W 8th St

Interior Features

Laundry Information

Has Laundry
In Closet, Stackable

Exterior Features

No Pool
Pool Features: None

Lot Details / Garage and Parking

Parking/Garage Information

# of Garage Spaces: 4
# of Parking Spaces: 8
Has Parking
Parking Features: Garage, Tandem Uncovered

Lot Information

Lot Features: 6-10 Units/Acre
Lot Size Source: Assessor
Common Interest: Community Apartment

Property Information

Common Walls: 2+ Common Walls
Total # of Units: 10
Parcel Number: 7272019009
Year Built Source: Assessor
Property is Attached

Homeowners Association, Utilities, Taxes / Assessments

Utilities Information

Sewer: Public Sewer
Water Source: Public

Location / Neighborhood

Location Information

Subdivision Name: Willmore District (WM)
Directions: W 8th St & Cedar Ave

Neighborhood Information

Community Features: Sidewalks, Urban

View more facts & features

Local Long Beach Agent

Sale History for 310 W 8th St

Last sold for $3,175,000 on January 14th, 2021

December, 2022
Dec 24, 2022

Date

Expired

CRMLS: 22216519

$3,395,000

Price
Nov 8, 2022

Date

Active

CRMLS: 22216519

$3,395,000

Price
Listing provided courtesy of CRMLS

10 units at 310 W 8th in LB Corner of Cedar and 8th. Located just blocks from over $8BB in Redevelopment in down town Long Beach. 9 of 10 completely remodeled. 10th unit is Section 8 and not updated. All new windows, landscaping and electrical (including main panel). All interiors updated with new kitchens, baths, etc. 9 units have W/D in them. 4 garages onsite. Current loan is NOT assumable. Subject to AB1482 Rent Control - max increase is currently 10%. Email LA for more info and a Rent Roll.

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January, 2021
Jan 15, 2021

Date

Sold

CRMLS: PW20018427

$3,175,000

Price
Nov 17, 2020

Date

Pending

CRMLS: PW20018427

$3,300,000

Price
Aug 27, 2020

Date

Withdrawn

CRMLS: PW20018427

$3,300,000

Price
Jan 27, 2020

Date

Active

CRMLS: PW20018427

$3,300,000

Price
January, 2021
Jan 14, 2021

Date

Sold (Public Records)

Public Records

$3,175,000

Price
May, 2019
May 22, 2019

Date

Sold (Public Records)

Public Records

$2,430,000

Price

Tax History for 310 W 8th St

Assessed Value (2020): $2,479,400

Year	Land Value	Improved Value	Assessed Value
2020	$1,611,600	$867,800	$2,479,400

Home Value Compared to the Market

This property vs the competition

310 W 8th St sold on January 14, 2021 for 312.5% 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 $368.92 per/sqft which puts the price per square foot 41.63% lower than the current median sale per square foot for the city of Long Beach.

About 310 W 8th St

Detailed summary of property

310 W 8th St is a multi family that recently sold in Long Beach, CA 90813. This multi family property offered 14 bedrooms, 10 bathrooms, roughly 8,945 living square feet, and sits on an approximately 7,504 square foot lot. 310 W 8th St was first listed on ArdentRealEstateGroup.com on January 20, 2021. The homeowner sold the property for $3,175,000. 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 312.5% higher than the current median priced home. Local homes that are currently for sale include 5121 E Ocean Blvd, 208 Granada Ave and 6807 E Seaside Walk. While the average home in Long Beach, CA is selling in 52 days, 310 W 8th St has a days on market of 213 days. There are currently 647 homes for sale in the Long Beach real estate market and 369 of them are single family homes while 262 of them are condos and 16 are townhomes. For more information on this home for sale at 310 W 8th St 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 310 W 8th St

Public county record property details

Beds: 14
Baths: 10
Year built: 1929
Sq. Ft.: 8,945
Lot Size: 7,504
Stories: --

Type: Apartment House (5+ Units)
Pool: No
Spa: No
County: Los Angeles
Lot#: 2
APN: 7272-019-009

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

$600,000

Median List Price/Sq.Ft.

$560

Median Sold Price

$584,000

Median Sold Price/Sq.Ft.

$592

Total Inventory

Median Sale to List Price %

108.35%

Avg Days on Market

Loan Type

Conventional (80%), FHA (10%), VA (10%), 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.