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405 E Esther St, Long Beach, CA 90813
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405 E Esther St Long Beach, CA 90813

$1,825,000 Sold Price as of 02/05/2021
  • 18 Beds
  • 8 Baths
  • 4,252 Sq.Ft.
Sold
$1,825,000 Sold Price as of 02/05/2021 Refinance Your Mortgage
Map preview of 405 E Esther St, Long Beach, CA 90813

Property Overview: 405 E Esther St Long Beach, CA has 18 bedrooms, 8 bathrooms, 4,252 living square feet and 6,752 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: High yield 7-unit apartment building half a block to a blue line station and steps to numerous new developments. Great unit mix of one 6 Bed/2 Bath unit, three 3 Bed/1 Bath units, one 2 Bed/1 Bath units, one 1 Bed/1 Bath, and one studio. Exterior refresh just completed and 5 out of 7 units remodeled. Super strong income at 12.59X gross on actuals with a 6% upside to market GRM of 11.81X and a 5.5% market cap rate. Qualifies for 75% LTV financing at historically low interest rates. Off-street parking for 4-5 cars. Just North of Downtown Long Beach. Blue lines serves both Downtown Los Angeles and Long Beach. Blocks away from elementary, middle, and high schools.

Listed by Anthony Walker | BRE #01908153 | Buckingham Investments, Inc
Last checked: 8 minutes ago | Last updated: March 22nd, 2022 | Source CRMLS | DOM: 72

Home details

Lot Sq. Ft
6,752
HOA Dues
$0/mo
Year built
1923
Garage
--
Property Type:
Multi Family
Status
Sold
MLS#
SB20183356
City
Long Beach
County
Los Angeles
Time on Site
1475 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 7
  • Total # of Buildings: 3
  • # of Electric Meters: 8
  • # of Gas Meters: 7
  • # of Water Meters: 1
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 3
  • # 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: 6
  • # of Baths: 2
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $3,300
  • Total Rent: $3,300
  • Pro Forma/Market Rent: $3,300
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 3
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,800
  • Total Rent: $1,800
  • Pro Forma/Market Rent: $1,850
Unit Breakdown 4
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,100
  • Total Rent: $1,100
  • Pro Forma/Market Rent: $1,550
Unit Breakdown 5
  • # of Units: 1
  • # of Beds: 3
  • # 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 6
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,100
  • Total Rent: $1,100
  • Pro Forma/Market Rent: $1,350
Unit Breakdown 7
  • # of Units: 1
  • # of Beds: 0
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,095
  • Total Rent: $1,095
  • Pro Forma/Market Rent: $1,150
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 5.1%
  • Gross Rent Multiplier: 12.59
  • Gross Scheduled Income: $146,940
  • Net Operating Income: $94,498
  • Gross Operating Income: $139,593
  • Vacancy Allowance: $7,347
Annual Expense Breakdown
  • Total Operating Expense: $45,095
  • Electric: $546
  • Gas/Fuel: $546
  • Licenses: $605
  • New Taxes: $23,125
  • Trash: $546
  • Gardener: $600
  • Insurance: $3,016
  • Maintenance: $6,980
  • Professional Management: $8,376
  • Water/Sewer: $546

Property Details for 405 E Esther St

Interior Features
Laundry Information
  • No Laundry
  • None
Interior Features
  • Levels: Two
Exterior Features
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Parking Spaces: 4
Lot Information
  • Lot Features: 6-10 Units/Acre
  • Lot Size Source: Assessor
  • Common Interest: None
Property Information
  • Common Walls: No Common Walls
  • Total # of Units: 7
  • Parcel Number: 7269020023
  • Year Built Source: Assessor
  • Property is not Attached
Homeowners Association, Utilities, Taxes / Assessments
Utilities Information
  • Sewer: Public Sewer
  • Water Source: Public
Location / Neighborhood
Location Information
  • Subdivision Name: Poly High (PH)
  • Directions: North side of street
Neighborhood Information
  • Community Features: Urban
View more facts & features

Local Long Beach Agent

Sale History for 405 E Esther St

Last sold for $1,825,000 on February 5th, 2021

  • February, 2021

  • Feb 5, 2021

    Date

    Sold

    CRMLS: SB20183356

    $1,825,000

    Price

  • Jan 6, 2021

    Date

    Pending

    CRMLS: SB20183356

    $1,850,000

    Price

  • Nov 16, 2020

    Date

    Active Under Contract

    CRMLS: SB20183356

    $1,850,000

    Price

  • Sep 5, 2020

    Date

    Active

    CRMLS: SB20183356

    $1,850,000

    Price

  • February, 2021

  • Feb 5, 2021

    Date

    Sold (Public Records)

    Public Records

    $1,825,000

    Price

  • December, 2018

  • Dec 1, 2018

    Date

    Sold

    CRMLS: PW18114898

    $1,375,000

    Price

  • Aug 24, 2018

    Date

    Active Under Contract

    CRMLS: PW18114898

    $1,400,000

    Price

  • May 16, 2018

    Date

    Active

    CRMLS: PW18114898

    $1,400,000

    Price

  • Listing provided courtesy of CRMLS

    Excellent unit mix. Great Location for rental properties close to Long beach Blvd Blue Line stop, Bus stops, Retail, Schools and shopping. rents are low with great upside potential for a savvy investor. All offers subject to interior inspection. Please do not disturb the tenants. tenants are not aware of the sale. All rents are actual. All units are fully rented. Property is professionally managed with low

  • November, 2018

  • Nov 30, 2018

    Date

    Sold (Public Records)

    Public Records

    $1,375,000

    Price

Show More

Tax History for 405 E Esther St

Assessed Value (2020): $1,402,500
Year Land Value Improved Value Assessed Value
2020 $510,000 $892,500 $1,402,500

Home Value Compared to the Market

This property vs the competition

405 E Esther St sold on February 5, 2021 for 125.89% 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 $435.09 per/sqft which puts the price per square foot 30.72% lower than the current median sale per square foot for the city of Long Beach.

About 405 E Esther St

Detailed summary of property

405 E Esther St is a multi family that recently sold in Long Beach, CA 90813. This multi family property offered 18 bedrooms, 8 bathrooms, roughly 4,252 living square feet, and sits on an approximately 6,752 square foot lot. 405 E Esther St was first listed on ArdentRealEstateGroup.com on September 5, 2020. The homeowner sold the property for $1,825,000. 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 125.89% higher than the current median priced home. Local homes that are currently for sale include 1616 E 4th St, 1817 E 3rd St and 1717 Temple Ave. While the average home in Long Beach, CA is selling in 62 days, 405 E Esther St has a days on market of 72 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 405 E Esther 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 405 E Esther St

Public county record property details
Beds
--
Baths
--
Year built
1923
Sq. Ft.
4,252
Lot Size
6,751
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
20
APN
7269-020-023

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
35
Median Sale to List Price %
99.02%
Avg Days on Market
24
Loan Type
Conventional (100%), FHA (0%), VA (0%), Cash (0%), Other (0%)

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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