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32 Argonne Ave Long Beach, CA 90803

$1,895,000 Sold Price as of 02/21/2020

4 Beds
5 Baths
2,934 Sq.Ft.

Sold

$1,895,000 Sold Price as of 02/21/2020 Refinance Your Mortgage

Map preview of 32 Argonne Ave, Long Beach, CA 90803

Property Overview: 32 Argonne Ave Long Beach, CA has 4 bedrooms, 5 bathrooms, 2,934 living square feet and 2,168 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: Totally Remodeled 5 unit building only steps from the sand in Belmont Shore! All units have been extensively renovated including kitchens, bathrooms, flooring, lighting, and finishes. Overall a beautifully restored 1930’s building full of character. Units newly leased at market rent, with no risk of rent rollbacks from AB 1482. Low maintenance building with separately metered gas and electric, and no landscaping. Strong income on in-place rents at 16.76 GRM, and makes the perfect 1031 exchange upleg!

Listed by Anthony Walker | BRE #01908153 | Buckingham Investments, Inc
Co-listed by Travis LeBouf | BRE #01938822 | RE/MAX Platinum Properties

Last checked: 7 minutes ago | Last updated: March 22nd, 2022 | Source CRMLS | DOM: 8

Home details

Lot Sq. Ft: 2,168
HOA Dues: $0/mo
Year built: 1931
Garage: --
Property Type:: Multi Family

Status: Sold
MLS#: SB19257633
City: Long Beach
County: Los Angeles
Time on Site: 1406 days

Multi-Family Unit Breakdown

Unit Mix Summary

Total # of Units: 5
Total # of Buildings: 1
# of Electric Meters: 5
# of Gas Meters: 5
# of Water Meters: 5

Unit Breakdown 1

# of Units: 1
# of Beds: 1
# of Baths: 1
Garage Spaces: 0
Garaged Attached? No
Furnishing: Unfurnished
Actual Rent: $1,900
Total Rent: $1,900
Pro Forma/Market Rent: $1,900

Unit Breakdown 2

# of Units: 1
# of Beds: 1
# of Baths: 1
Garage Spaces: 0
Garaged Attached? No
Furnishing: Unfurnished
Actual Rent: $1,950
Total Rent: $1,950
Pro Forma/Market Rent: $1,950

Unit Breakdown 3

# of Units: 1
# of Beds: 1
# of Baths: 1
Garage Spaces: 0
Garaged Attached? No
Furnishing: Unfurnished
Actual Rent: $1,895
Total Rent: $1,895
Pro Forma/Market Rent: $1,895

Unit Breakdown 4

# of Units: 1
# of Beds: 1
# of Baths: 1
Garage Spaces: 0
Garaged Attached? No
Furnishing: Unfurnished
Actual Rent: $1,985
Total Rent: $1,985
Pro Forma/Market Rent: $1,985

Unit Breakdown 5

# of Units: 1
# of Beds: 0
# of Baths: 1
Garage Spaces: 0
Garaged Attached? No
Furnishing: Unfurnished
Total Rent: $1,695
Pro Forma/Market Rent: $1,695

Multi-Family Income/Expense Information

Property Income and Analysis

Cap Rate: 3.6%
Gross Rent Multiplier: 16.76
Gross Scheduled Income: $113,100
Net Operating Income: $68,612
Gross Operating Income: $109,707
Vacancy Allowance: $3,393

Annual Expense Breakdown

Total Operating Expense: $41,095
Electric: $1,100
Licenses: $265
New Taxes: $23,688
Trash: $0
Insurance: $4,572
Maintenance: $5,485
Professional Management: $5,485
Water/Sewer: $0

Property Details for 32 Argonne Ave

Interior Features

Laundry Information

No Laundry
None

Exterior Features

No Pool
Pool Features: None

Lot Details / Garage and Parking

Lot Information

Lot Features: 2-5 Units/Acre, No Landscaping
Lot Size Source: Assessor
Common Interest: None

Property Information

Common Walls: No Common Walls
Total # of Units: 5
Parcel Number: 7247021009
Year Built Source: Public Records
Property is not Attached

Homeowners Association, Utilities, Taxes / Assessments

Homeowners Association

Is Not Part of Association

Utilities Information

Sewer: Public Sewer
Water Source: Other

Location / Neighborhood

Location Information

Subdivision Name: Belmont Shore (BSD)
Directions: On East side of street

Neighborhood Information

Community Features: Watersports, Preserve/Public Land

View more facts & features

Local Long Beach Agent

Sale History for 32 Argonne Ave

Last sold on March 9th, 2020

March, 2020
Mar 9, 2020

Date

Sold (Public Records)

Public Records

--

Price
February, 2020
Feb 22, 2020

Date

Sold

CRMLS: SB19257633

$1,895,000

Price
Jan 30, 2020

Date

Pending

CRMLS: SB19257633

$1,895,000

Price
Nov 14, 2019

Date

Active Under Contract

CRMLS: SB19257633

$1,895,000

Price
Nov 4, 2019

Date

Active

CRMLS: SB19257633

$1,895,000

Price
February, 2020
Feb 21, 2020

Date

Sold (Public Records)

Public Records

$1,895,000

Price

Tax History for 32 Argonne Ave

Assessed Value (2020): $1,479,320

Year	Land Value	Improved Value	Assessed Value
2020	$1,020,000	$459,320	$1,479,320

Home Value Compared to the Market

This property vs the competition

32 Argonne Ave sold on February 21, 2020 for 136.88% 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 $645.88 per/sqft which puts the price per square foot 2.2% higher than the current median sale per square foot for the city of Long Beach.

About 32 Argonne Ave

Detailed summary of property

32 Argonne Ave is a multi family that recently sold in Long Beach, CA 90803. This multi family property offered 4 bedrooms, 5 bathrooms, roughly 2,934 living square feet, and sits on an approximately 2,168 square foot lot. 32 Argonne Ave was first listed on ArdentRealEstateGroup.com on July 11, 2020. The homeowner sold the property for $1,895,000. 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 136.88% higher than the current median priced home. Local homes that are currently for sale include 1102 Termino Ave, 791 Coronado Ave and 2529 E 10th St. While the average home in Long Beach, CA is selling in 51 days, 32 Argonne Ave has a days on market of 8 days. There are currently 643 homes for sale in the Long Beach real estate market and 358 of them are single family homes while 270 of them are condos and 15 are townhomes. For more information on this home for sale at 32 Argonne Ave Long Beach, CA 90803 contact Ardent Real Estate Group and we will put you in touch with one of our Long Beach agents.

Public Facts for 32 Argonne Ave

Public county record property details

Beds: 5
Baths: 5
Year built: 1931
Sq. Ft.: 2,934
Lot Size: 2,167
Stories: --

Type: Apartment House (5+ Units)
Pool: No
Spa: No
County: Los Angeles
Lot#: 13
APN: 7247-021-009

The source for these homes facts are from public records.

90803 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends

Median List Price

$1,499,980

Median List Price/Sq.Ft.

$856

Median Sold Price

$1,600,000

Median Sold Price/Sq.Ft.

$672

Total Inventory

113

Median Sale to List Price %

100%

Avg Days on Market

Loan Type

Conventional (50%), FHA (0%), VA (0%), Cash (43.75%), Other (6.25%)

Thinking of Selling?

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Thinking of Selling?
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(714) 706-1823

Homes for Sale Near 32 Argonne Ave

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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.