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426 E 17Th St Long Beach, CA 90813

$1,595,000 Sold Price as of 11/01/2022

4 Beds
8 Baths
4,320 Sq.Ft.

Sold

$1,595,000 Sold Price as of 11/01/2022 Refinance Your Mortgage

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Map preview of 426 E 17Th St, Long Beach, CA 90813

Property Overview: 426 E 17Th St Long Beach, CA has 4 bedrooms, 8 bathrooms, 4,320 living square feet and 7,425 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: 426 E. 17th Street is a value-add investment asset located in Long Beach with seven units plus one non-conforming unit. The courtyard-style property with gated entrance offers a unit mix consisting of (4) 1 BD/1 BA and (4) studios.There is onsite laundry and two garages on the property providing additional income. Utilities are separately metered with in place RUBS program. The property is conveniently located within walking distance to public transportation along Long Beach Boulevard, which runs to Downtown Long Beach, and nearby to PCH, providing easy access to the 710 freeway. 426 E. 17th Street presents a new buyer with the opportunity to increase existing below-market rents. There is additional value add potential in permitting the non-conforming unit, which already is separately metered for gas and electric.

Listed by Robert Stepp | BRE #01456379 | Keller Williams - Santa Monica
Co-listed by John Alden | BRE #02114291 | Alden Pacific Investments, Inc.

Last checked: 10 minutes ago | Last updated: November 2nd, 2022 | Source CRMLS | DOM: 133

Home details

Lot Sq. Ft: 7,425
HOA Dues: $0/mo
Year built: 1923
Garage: 2 Car
Property Type:: Multi Family

Status: Sold
MLS#: PW22133767
City: Long Beach
County: Los Angeles
Time on Site: 700 days

Multi-Family Unit Breakdown

Unit Mix Summary

Total # of Units: 7
Total # of Buildings: 3
# of Electric Meters: 8
# of Gas Meters: 8
# of Water Meters: 1

Unit Breakdown 1

# of Units: 1
# of Beds: 1
# of Baths: 1
Furnishing: Unfurnished
Actual Rent: $1,495
Total Rent: $1,495
Pro Forma/Market Rent: $1,600

Unit Breakdown 2

# of Units: 4
# of Beds: 0
# of Baths: 1
Garage Spaces: 0
Garaged Attached? No
Furnishing: Unfurnished
Actual Rent: $1,327
Total Rent: $5,308
Pro Forma/Market Rent: $1,450

Unit Breakdown 3

# of Units: 3
# of Beds: 1
# of Baths: 1
Garage Spaces: 0
Garaged Attached? No
Furnishing: Unfurnished
Actual Rent: $1,535
Total Rent: $6,380
Pro Forma/Market Rent: $1,645

Multi-Family Income/Expense Information

Property Income and Analysis

Cap Rate: 4.46%
Gross Rent Multiplier: --
Gross Scheduled Income: $139,297
Net Operating Income: $90,890
Gross Operating Income: --
# of Rented Garages: 1
Garage Rental Rate: $100
Garage Rental Income: $1,200
Laundry Income: $535
Other Income 1: $198
Other Income Description: RUBS

Annual Expense Breakdown

Total Operating Expense: $41,442
Electric: $786
Gas/Fuel: $786
Licenses: $700
New Taxes: $20,353
Trash: $786
Gardener: $938
Insurance: $3,320
Maintenance: $4,400
Professional Management: $6,617
Water/Sewer: $786
Other Expenses: $1,600
Other Expense Description: Reserves

Property Details for 426 E 17Th St

Interior Features

Laundry Information

Has Laundry
Common Area

Exterior Features

No Pool
Pool Features: None

Lot Details / Garage and Parking

Parking/Garage Information

# of Garage Spaces: 2
# of Parking Spaces: 2

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: 7
Parcel Number: 7269022021
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: Wrigley Area (WR)
Directions: PCH & Linden Ave

Neighborhood Information

Community Features: Urban

View more facts & features

Local Long Beach Agent

Sale History for 426 E 17Th St

Last sold for $1,595,000 on November 1st, 2022

November, 2022
Nov 1, 2022

Date

Sold

CRMLS: PW22133767

$1,595,000

Price
Jun 20, 2022

Date

Active

CRMLS: PW22133767

$1,750,000

Price
August, 2018
Aug 1, 2018

Date

Sold (Public Records)

Public Records

$1,349,000

Price
March, 2018
Mar 15, 2018

Date

Sold (Public Records)

Public Records

--

Price

Tax History for 426 E 17Th St

Assessed Value (2020): $1,376,820

Year	Land Value	Improved Value	Assessed Value
2020	$408,000	$968,820	$1,376,820

Home Value Compared to the Market

This property vs the competition

426 E 17Th St sold on November 1, 2022 for 99.38% 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 $369.21 per/sqft which puts the price per square foot 41.58% lower than the current median sale per square foot for the city of Long Beach.

About 426 E 17Th St

Detailed summary of property

426 E 17Th St is a multi family that recently sold in Long Beach, CA 90813. This multi family property offered 4 bedrooms, 8 bathrooms, roughly 4,320 living square feet, and sits on an approximately 7,425 square foot lot. 426 E 17Th St was first listed on ArdentRealEstateGroup.com on June 20, 2022. The homeowner sold the property for $1,595,000. 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 99.38% higher than the current median priced home. Local homes that are currently for sale include 1825 Cherry Ave, 436 Gaviota Ave and 1616 E 4th St. While the average home in Long Beach, CA is selling in 51 days, 426 E 17Th St has a days on market of 133 days. There are currently 639 homes for sale in the Long Beach real estate market and 366 of them are single family homes while 259 of them are condos and 14 are townhomes. For more information on this home for sale at 426 E 17Th 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 426 E 17Th St

Public county record property details

Beds: 2
Baths: 7
Year built: 1923
Sq. Ft.: 4,320
Lot Size: 7,425
Stories: --

Type: Apartment House (5+ Units)
Pool: No
Spa: No
County: Los Angeles
Lot#: 21
APN: 7269-022-021

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.