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6410 N Paramount Blvd, Long Beach, CA 90805
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6410 N Paramount Blvd Long Beach, CA 90805

$2,000,000 Sold Price as of 09/04/2020
  • 1 Beds
  • 15 Baths
  • 4,487 Sq.Ft.
Sold
$2,000,000 Sold Price as of 09/04/2020 Refinance Your Mortgage
Map preview of 6410 N Paramount Blvd, Long Beach, CA 90805

Property Overview: 6410 N Paramount Blvd Long Beach, CA has 1 bedrooms, 15 bathrooms, 4,487 living square feet and 4,487 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: Great opportunity to own a fully-stabilized 15 unit apartment building in Long Beach's Ramona Park neighborhood! Comprised of 14 studios and a 1 bedroom - 1 bathroom unit, this property has rents that are 25% below the competition, keeping it fully-leased during a downturn; perfect for a long-term investor to both immediately earn great cash flow and with opportunity to grow. Located in a growing part of Long Beach with many large employers nearby, the current owner has never experienced any issue in keeping the property leased-up. With 5 of the units currently occupied through Brilliant Corners, a nationally- recognized nonprofit providing supportive housing rental subsidies, the new owner will already have a partner in operating and strategically combating "landlord-unfriendly' legislation in California, as well as cash flow uncertainty brought on by Covid-19. Providing returns at over a 6 CAP without having rehab, the property is a rare opportunity for the savvy investor, especially at the lowest price unit on the market.

Listed by Justin White | BRE #01267826 | Justin White
Last checked: 8 minutes ago | Last updated: March 22nd, 2022 | Source CRMLS | DOM: 11

Home details

Lot Sq. Ft
4,487
HOA Dues
$0/mo
Year built
1929
Garage
--
Property Type:
Multi Family
Status
Sold
MLS#
PW20144293
City
Long Beach
County
Los Angeles
Time on Site
1397 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 15
  • Total # of Buildings: 1
  • # of Electric Meters: 1
  • # of Gas Meters: 1
  • # of Water Meters: 1
Unit Breakdown 1
  • # of Units: 14
  • # of Beds: 0
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,395
  • Total Rent: $996
  • Pro Forma/Market Rent: $1,100
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,350
  • Total Rent: $1,350
  • Pro Forma/Market Rent: $1,350
Multi-Family Income/Expense Information
Property Income and Analysis
  • Gross Rent Multiplier: --
  • Gross Scheduled Income: $183,600
  • Net Operating Income: $112,915
  • Gross Operating Income: --
  • Vacancy Allowance: $9,180
Annual Expense Breakdown
  • Total Operating Expense: $61,504
  • Electric: $4,750
  • Gas/Fuel: $0
  • New Taxes: $24,000
  • Trash: $900
  • Insurance: $2,065
  • Professional Management: $9,539
  • Water/Sewer: $4,025

Property Details for 6410 N Paramount Blvd

Interior Features
Laundry Information
  • Has Laundry
  • Common Area
Exterior Features
Exterior Information
  • Roof: Flat Tile
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Lot Information
  • Lot Features: Near Public Transit, No Landscaping
  • Lot Size Source: Assessor
  • Common Interest: None
Property Information
  • Has View
  • View: Neighborhood
  • Common Walls: 2+ Common Walls
  • Total # of Units: 15
  • Parcel Number: 7120008004
  • 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: North Long Beach (NLB)
  • Directions: Subject is located 2 blocks South of Artesia Blvd and CA-91. It is on the East side of the street between 64th and Cade
Neighborhood Information
  • Community Features: Biking, Curbs, Gutters, Park, Sidewalks, Storm Drains, Street Lights
View more facts & features

Local Long Beach Agent

Sale History for 6410 N Paramount Blvd

Last sold for $2,000,000 on September 4th, 2020

  • September, 2020

  • Sep 4, 2020

    Date

    Sold

    CRMLS: PW20144293

    $2,000,000

    Price

  • Aug 3, 2020

    Date

    Active Under Contract

    CRMLS: PW20144293

    $2,000,000

    Price

  • Jul 21, 2020

    Date

    Active

    CRMLS: PW20144293

    $2,000,000

    Price

  • September, 2020

  • Sep 4, 2020

    Date

    Sold (Public Records)

    Public Records

    $2,000,000

    Price

  • September, 2020

  • Sep 4, 2020

    Date

    Sold (Public Records)

    Public Records

    --

    Price

Show More

Tax History for 6410 N Paramount Blvd

Assessed Value (2020): $1,678,508
Year Land Value Improved Value Assessed Value
2020 $143,263 $1,535,245 $1,678,508

Home Value Compared to the Market

This property vs the competition

6410 N Paramount Blvd sold on September 4, 2020 for 150% 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 $445.73 per/sqft which puts the price per square foot 29.47% lower than the current median sale per square foot for the city of Long Beach.

About 6410 N Paramount Blvd

Detailed summary of property

6410 N Paramount Blvd is a multi family that recently sold in Long Beach, CA 90805. This multi family property offered 1 bedrooms, 15 bathrooms, roughly 4,487 living square feet, and sits on an approximately 4,487 square foot lot. 6410 N Paramount Blvd was first listed on ArdentRealEstateGroup.com on July 22, 2020. The homeowner sold the property for $2,000,000. 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 150% higher than the current median priced home. Local homes that are currently for sale include 1377 Warren Ave, 650 E 15th St and 1148 Stanley Ave. While the average home in Long Beach, CA is selling in 51 days, 6410 N Paramount Blvd has a days on market of 11 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 6410 N Paramount Blvd 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 6410 N Paramount Blvd

Public county record property details
Beds
1
Baths
15
Year built
1929
Sq. Ft.
2,752
Lot Size
4,487
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
4
APN
7120-008-004

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
$699,000
Median List Price/Sq.Ft.
$563
Median Sold Price
$720,000
Median Sold Price/Sq.Ft.
$564
Total Inventory
63
Median Sale to List Price %
101.69%
Avg Days on Market
26
Loan Type
Conventional (47.83%), FHA (17.39%), VA (4.35%), Cash (13.04%), Other (17.39%)

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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