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362 E Louise St, Long Beach, CA 90805
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362 E Louise St Long Beach, CA 90805

$3,275,000 Sold Price as of 10/05/2022
  • 20 Beds
  • 12 Baths
  • 9,648 Sq.Ft.
Sold
$3,275,000 Sold Price as of 10/05/2022 Refinance Your Mortgage
Map preview of 362 E Louise St, Long Beach, CA 90805

Property Overview: 362 E Louise St Long Beach, CA has 20 bedrooms, 12 bathrooms, 9,648 living square feet and 12,000 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: Easy to own asset that is a great addition to any portfolio! This clean and well-maintained 12-unit property consists of eight 2bed/1bath units and four 1bed/1bath units with eight garages and private laundry/ storage rooms. The entire property is secured with coded entry and a brand new camera system. Plus, two of the units were recently refurbished and the entire roof is brand new. Each unit is in good condition, offers a functional layout, and provides plenty of space for the tenants to enjoy. Located in the path of progress - this dense rental market is perfect for investors who enjoy low vacancy rates, high market rental rates, and strong long-term appreciation. Close proximity to Bixby Knolls and all the new large scale redevelopment projects (The Beat, The Uptown, Uptown Commons, etc.) by nationally acclaimed developers coming online along the Atlantic corridor brings a ton of long-term value to the local market. Downtown Long Beach, the beach, parks, public transportation, easy freeway access, and other community amenities/ attractions are close by for all to enjoy. Long Beach is resurging due to hundreds of millions of dollars invested in private and public developments, a growing local economy with strong employment, and the increasing demand to "live, work, and play" in this remarkable community.

Listed by Matthew Mahowald | BRE #02001732 | Buckingham Investments, Inc
Last checked: 1 minute ago | Last updated: October 6th, 2022 | Source CRMLS | DOM: 38

Home details

Lot Sq. Ft
12,000
HOA Dues
$0/mo
Year built
1964
Garage
8 Car
Property Type:
Multi Family
Status
Sold
MLS#
SB22131119
City
Long Beach
County
Los Angeles
Time on Site
825 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 12
  • Total # of Buildings: 1
  • # of Leased Units: 12
  • # of Electric Meters: 12
  • # of Gas Meters: 12
  • # of Water Meters: 1
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,449
  • Total Rent: $1,449
  • Pro Forma/Market Rent: $1,600
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,662
  • Total Rent: $1,662
  • Pro Forma/Market Rent: $2,000
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,795
  • Total Rent: $1,795
  • Pro Forma/Market Rent: $2,000
Unit Breakdown 4
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,625
  • Total Rent: $1,625
  • Pro Forma/Market Rent: $1,625
Unit Breakdown 5
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,900
  • Total Rent: $1,900
  • Pro Forma/Market Rent: $2,000
Unit Breakdown 6
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,662
  • Total Rent: $1,662
  • Pro Forma/Market Rent: $2,000
Unit Breakdown 7
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,448
  • Total Rent: $1,448
  • Pro Forma/Market Rent: $2,000
Unit Breakdown 8
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,550
  • Total Rent: $1,550
  • Pro Forma/Market Rent: $1,600
Unit Breakdown 9
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,532
  • Total Rent: $1,532
  • Pro Forma/Market Rent: $2,000
Unit Breakdown 10
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,895
  • Total Rent: $1,895
  • Pro Forma/Market Rent: $2,000
Unit Breakdown 11
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,833
  • Total Rent: $1,833
  • Pro Forma/Market Rent: $2,000
Unit Breakdown 12
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,462
  • Total Rent: $1,462
  • Pro Forma/Market Rent: $1,600
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 4.2%
  • Gross Rent Multiplier: 14.7
  • Gross Scheduled Income: $237,756
  • Net Operating Income: $147,671
  • Gross Operating Income: $230,623
  • Vacancy Allowance: $7,133
  • # of Rented Garages: 8
Annual Expense Breakdown
  • Total Operating Expense: $82,952
  • Trash: $3,000
  • Insurance: $4,800
  • Professional Management: $0
  • Water/Sewer: $5,400

Property Details for 362 E Louise St

Interior Features
Cooling Information
  • No Cooling
  • None
Heating Information
  • Has Heating
  • Wall Furnace
Laundry Information
  • Has Laundry
  • Common Area, Community, Individual Room
Fireplace Information
  • No Fireplace
  • None
Room Information
  • Flooring: Carpet, Laminate, Vinyl
  • Family Room, Kitchen, Laundry, Living Room, Master Bathroom, Utility Room
Kitchen Information
  • Has Appliances
  • Free-Standing Range, Gas Oven, Gas Range, Gas Cooktop, Refrigerator
Interior Features
  • 2 Staircases
  • Levels: Two
  • Security Features: Carbon Monoxide Detector(s), Card/Code Access, Closed Circuit Camera(s), Gated Community, Security System, Smoke Detector(s)
Exterior Features
Exterior Information
  • Roof: Composition, Shingle
  • Has Fence
  • Privacy, Security, Wrought Iron
  • No Spa
  • Spa Features: None
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Garage Spaces: 8
  • # of Parking Spaces: 8
Lot Information
  • Lot Features: Front Yard, Landscaped, Lot 10000-19999 Sqft, Near Public Transit, Park Nearby
  • Lot Size Source: Assessor
  • Common Interest: None
Property Information
  • No View
  • View: None
  • Common Walls: 2+ Common Walls
  • Total # of Units: 12
  • Parcel Number: 7126033023
  • Year Built Source: Public Records
  • Foundation Details: Slab
  • Property is Attached
  • Accessibility Features: 2+ Access Exits, Parking
  • Property Condition: Repairs Cosmetic, Turnkey, Updated/Remodeled
Homeowners Association, Utilities, Taxes / Assessments
Homeowners Association
  • Is Not Part of Association
Utilities Information
  • Sewer: Public Sewer
  • Water Source: Public
  • Utilities: Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
Assessment Information
  • Has Assessments
  • Assessments: Buyer to Verify, Unknown
Location / Neighborhood
Location Information
  • Subdivision Name: North Long Beach (NLB)
  • Directions: On the corner of Elm Ave and Louise St
  • Road Frontage Type: City Street
  • Road Surface Type: Paved
Neighborhood Information
  • Community Features: Curbs, Park, Sidewalks
View more facts & features

Local Long Beach Agent

Sale History for 362 E Louise St

Last sold for $3,275,000 on October 5th, 2022

  • October, 2022

  • Oct 5, 2022

    Date

    Sold

    CRMLS: SB22131119

    $3,275,000

    Price

  • Jun 17, 2022

    Date

    Active

    CRMLS: SB22131119

    $3,500,000

    Price

  • August, 2021

  • Aug 27, 2021

    Date

    Sold

    CRMLS: SB21057049

    $3,095,000

    Price

  • Jun 5, 2021

    Date

    Pending

    CRMLS: SB21057049

    $3,095,000

    Price

  • May 3, 2021

    Date

    Active

    CRMLS: SB21057049

    $3,095,000

    Price

  • May 3, 2021

    Date

    Price Change

    CRMLS: SB21057049

    $3,095,000

    Price

  • Apr 28, 2021

    Date

    Hold

    CRMLS: SB21057049

    $3,295,000

    Price

  • Mar 19, 2021

    Date

    Active

    CRMLS: SB21057049

    $3,295,000

    Price

  • Listing provided courtesy of CRMLS

    Well maintained & clean 12 unit 2 story apartment building with many long term tenants, consists of 8 two bedrooms 1 bath and 4 one bedroom 1 bath units. Also has 8 single car garages and 4 open parking spots. Units have access controlled entry gates. Do not disturb tenants please.

  • November, 2009

  • Nov 3, 2009

    Date

    Sold (Public Records)

    Public Records

    --

    Price

  • November, 1997

  • Nov 25, 1997

    Date

    Sold (Public Records)

    Public Records

    $409,000

    Price

Show More

Tax History for 362 E Louise St

Assessed Value (2020): $675,434
Year Land Value Improved Value Assessed Value
2020 $198,902 $476,532 $675,434

Home Value Compared to the Market

This property vs the competition

362 E Louise St sold on October 5, 2022 for 312.09% 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 $349.81 per/sqft which puts the price per square foot 44.3% lower than the current median sale per square foot for the city of Long Beach.

About 362 E Louise St

Detailed summary of property

362 E Louise St is a multi family that recently sold in Long Beach, CA 90805. This multi family property offered 20 bedrooms, 12 bathrooms, roughly 9,648 living square feet, and sits on an approximately 12,000 square foot lot. 362 E Louise St was first listed on ArdentRealEstateGroup.com on June 17, 2022. The homeowner sold the property for $3,275,000. 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 312.09% higher than the current median priced home. Local homes that are currently for sale include 10961 S Figueroa St, 6807 E Seaside Walk and 442 W 93rd St. While the average home in Long Beach, CA is selling in 62 days, 362 E Louise St has a days on market of 38 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 362 E Louise 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 362 E Louise St

Public county record property details
Beds
20
Baths
12
Year built
1864
Sq. Ft.
9,648
Lot Size
12,000
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
--
APN
7126-033-023

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
$680,000
Median List Price/Sq.Ft.
$552
Median Sold Price
$700,000
Median Sold Price/Sq.Ft.
$568
Total Inventory
96
Median Sale to List Price %
101.89%
Avg Days on Market
28
Loan Type
Conventional (42.11%), FHA (36.84%), VA (10.53%), Cash (0%), Other (10.53%)

Thinking of Selling?

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Thinking of Selling?
Call, Text or Message
(714) 706-1823

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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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