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424 W 9th St, Long Beach, CA 90813
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424 W 9th St Long Beach, CA 90813

$1,577,000 Sold Price as of 07/21/2022
  • 5 Beds
  • 8 Baths
  • 3,724 Sq.Ft.
Sold
$1,577,000 Sold Price as of 07/21/2022 Refinance Your Mortgage
Map preview of 424 W 9th St, Long Beach, CA 90813

Property Overview: 424 W 9th St Long Beach, CA has 5 bedrooms, 8 bathrooms, 3,724 living square feet and 4,106 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: 424 W 9th St is located in the Heart of Downtown Long Beach, this is a great opportunity to own an 8 unit property with stable income and at least 10% upside in rents. The surrounding area is currently being heavily developed with an estimated $3.5 billion currently under construction. This is a great opportunity to own near the historic Willmore District with a fresh look to appeal to the young professionals flooding to Downtown's hip revival. 424 9th St comes with a mixture of hardwood floors, high ceilings, a sun-deck, granite countertops, and vintage built-in cabinets. The property consists of 2 buildings on a grassy 4,105 sq ft lot with (5) 1-bed/1-bath units and (3) studios.

Listed by Stephen Takahashi | BRE #01944770 | Lyon Stahl Investment Real Estate, Inc.
Co-listed by John Stiegler II | BRE #01981597 | Lyon Stahl Investment Real Estate, Inc.
Last checked: 4 minutes ago | Last updated: July 26th, 2022 | Source CRMLS | DOM: 6

Home details

Lot Sq. Ft
4,106
HOA Dues
$0/mo
Year built
1921
Garage
--
Property Type:
Multi Family
Status
Sold
MLS#
SB22093595
City
Long Beach
County
Los Angeles
Time on Site
868 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 8
  • Total # of Buildings: 3
  • # of Leased Units: 8
  • # of Electric Meters: 6
  • # of Gas Meters: 6
  • # 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: $1,363
  • Total Rent: $1,363
  • Pro Forma/Market Rent: $1,550
Unit Breakdown 2
  • # 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: $1,200
Unit Breakdown 3
  • # 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: $1,550
Unit Breakdown 4
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,295
  • Total Rent: $1,295
  • Pro Forma/Market Rent: $1,550
Unit Breakdown 5
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,195
  • Total Rent: $1,195
  • Pro Forma/Market Rent: $1,550
Unit Breakdown 6
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,507
  • Total Rent: $1,507
  • Pro Forma/Market Rent: $1,550
Unit Breakdown 7
  • # of Units: 1
  • # of Beds: 0
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,045
  • Total Rent: $1,045
  • Pro Forma/Market Rent: $1,200
Unit Breakdown 8
  • # of Units: 1
  • # of Beds: 0
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,126
  • Total Rent: $1,126
  • Pro Forma/Market Rent: $1,200
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 4.81%
  • Gross Rent Multiplier: 12.82
  • Gross Scheduled Income: $120,900
  • Net Operating Income: $74,557
  • Gross Operating Income: --
Annual Expense Breakdown
  • Total Operating Expense: $40,298
  • Electric: $1,600
  • Gas/Fuel: $1,600
  • Trash: $1,600
  • Insurance: $1,146
  • Professional Management: $6,045
  • Water/Sewer: $1,600

Property Details for 424 W 9th St

Interior Features
Laundry Information
  • No Laundry
  • None
Exterior Features
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Lot Information
  • Lot Features: 0-1 Unit/Acre
  • Lot Size Source: Public Records
  • Common Interest: None
Property Information
  • Common Walls: 2+ Common Walls
  • Total # of Units: 8
  • Parcel Number: 7272015016
  • Year Built Source: Public Records
  • 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: Eastbound of the 710 Freeway and and Southbound of Anaheim St
Neighborhood Information
  • Community Features: Sidewalks
View more facts & features

Local Long Beach Agent

Sale History for 424 W 9th St

Last sold for $1,577,000 on July 21st, 2022

  • July, 2022

  • Jul 21, 2022

    Date

    Sold

    CRMLS: SB22093595

    $1,577,000

    Price

  • May 5, 2022

    Date

    Active

    CRMLS: SB22093595

    $1,550,000

    Price

  • June, 2021

  • Jun 4, 2021

    Date

    Expired

    CRMLS: SB21001212

    $1,525,000

    Price

  • Jun 3, 2021

    Date

    Withdrawn

    CRMLS: SB21001212

    $1,525,000

    Price

  • May 6, 2021

    Date

    Hold

    CRMLS: SB21001212

    $1,525,000

    Price

  • Apr 20, 2021

    Date

    Active

    CRMLS: SB21001212

    $1,525,000

    Price

  • Apr 16, 2021

    Date

    Hold

    CRMLS: SB21001212

    $1,525,000

    Price

  • Mar 16, 2021

    Date

    Price Change

    CRMLS: SB21001212

    $1,525,000

    Price

  • Mar 8, 2021

    Date

    Active

    CRMLS: SB21001212

    $1,595,000

    Price

  • Feb 22, 2021

    Date

    Pending

    CRMLS: SB21001212

    $1,595,000

    Price

  • Feb 9, 2021

    Date

    Price Change

    CRMLS: SB21001212

    $1,595,000

    Price

  • Jan 4, 2021

    Date

    Active

    CRMLS: SB21001212

    $1,650,000

    Price

  • Listing provided courtesy of CRMLS

    424 9th St is a great opportunity to own in Downtown Long Beach without a market setting price per unit or huge down payment. Listed at 190k a door and over a 5% CAP rate, this is well maintained property that’s easy to manage. Tenants enjoy the close proximity to dining and shopping options, which has led to an average length of tenancy of 5 years! The subject property also offers upside as the Willmore District and Downtown are revitalizing the look to attract young professionals and have already started with an estimated $3.5 billion under construction. All tenants are currently up to date.

  • March, 2019

  • Mar 22, 2019

    Date

    Sold

    CRMLS: SB18254443

    $1,400,000

    Price

  • Mar 22, 2019

    Date

    Price Change

    CRMLS: SB18254443

    $1,390,000

    Price

  • Dec 17, 2018

    Date

    Withdrawn

    CRMLS: SB18254443

    $1,395,000

    Price

  • Dec 12, 2018

    Date

    Active

    CRMLS: SB18254443

    $1,395,000

    Price

  • Dec 12, 2018

    Date

    Hold

    CRMLS: SB18254443

    $1,395,000

    Price

  • Nov 30, 2018

    Date

    Active

    CRMLS: SB18254443

    $1,395,000

    Price

  • Nov 29, 2018

    Date

    Hold

    CRMLS: SB18254443

    $1,395,000

    Price

  • Oct 19, 2018

    Date

    Active

    CRMLS: SB18254443

    $1,395,000

    Price

  • Listing provided courtesy of CRMLS

    5.5% Cap Rate Day One & 11.95 GRM! 8-unit multi-family investment in Heart of Downtown Long Beach! Don’t miss this opportunity to own in Downtown LB near $8 billion in new capital! The property consists of 2 buildings on a large, grassy 4,105 sq. ft. lot with (5) 1-bed/1-bath units and (3) studios. The 9th Street Apartments offer the best cap rate on the market and are complimented by beautiful landscaping and upgraded units. The units come with a mixture of hardwood floors, high ceilings, a sun-deck, granite counter tops, and vintage built-in cabinets. This property captures the beauty of the historic Willmore District with a fresh look to appeal to the young professionals flooding to Downtown Long Beach’s hip revival. The 9th Street Apartments are situated just blocks from the ocean and minutes from the $520 million dollar Civic Center redevelopment, the $250 million Queen Mary Island waterfront development, the $53 million dollar Long Beach Aquarium expansion, and dozens of other new high rise and entertainment developments planned for Downtown Long Beach. Already offering a 5.5% cap rate, the property’s below-market rents offer any investor the opportunity to easily achieve a 6.68% cap rate and a 10.43 GRM. This turn-key asset is the perfect investment for any exchange buyer or owner looking to own a piece of one of Southern California’s last affordable beach communities.

  • March, 2019

  • Mar 21, 2019

    Date

    Sold (Public Records)

    Public Records

    $1,400,000

    Price

Show More

Tax History for 424 W 9th St

Assessed Value (2020): $1,429,000
Year Land Value Improved Value Assessed Value
2020 $928,200 $500,800 $1,429,000

Home Value Compared to the Market

This property vs the competition

424 W 9th St sold on July 21, 2022 for 89.26% 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 $416.22 per/sqft which puts the price per square foot 33.72% lower than the current median sale per square foot for the city of Long Beach.

About 424 W 9th St

Detailed summary of property

424 W 9th St is a multi family that recently sold in Long Beach, CA 90813. This multi family property offered 5 bedrooms, 8 bathrooms, roughly 3,724 living square feet, and sits on an approximately 4,106 square foot lot. 424 W 9th St was first listed on ArdentRealEstateGroup.com on May 5, 2022. The homeowner sold the property for $1,577,000. 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 89.26% higher than the current median priced home. Local homes that are currently for sale include 2264 Magnolia Ave, 1616 E 4th St and 436 Gaviota Ave. While the average home in Long Beach, CA is selling in 62 days, 424 W 9th St has a days on market of 6 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 424 W 9th 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 424 W 9th St

Public county record property details
Beds
5
Baths
8
Year built
1904
Sq. Ft.
3,274
Lot Size
4,105
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
2
APN
7272-015-016

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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Thinking of Selling?
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(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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