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702 E Burnett St Long Beach, CA 90806

$950,000 Sold Price as of 04/07/2021

8 Beds
4 Baths
2,964 Sq.Ft.

Sold

$950,000 Sold Price as of 04/07/2021 Refinance Your Mortgage

Map preview of 702 E Burnett St, Long Beach, CA 90806

Property Overview: 702 E Burnett St Long Beach, CA has 8 bedrooms, 4 bathrooms, 2,964 living square feet and 2,883 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: We are pleased to present 702 E Burnett Street, a four unit property located in the City of Long Beach, California. Built in 1924, the property is situated on a 2,883 square foot lot zoned LBR1N near the intersection of Lime Avenue and E Burnett Street. The property consists of one structure with four two bedroom, one bathroom units. All the units are individually metered for electricity and gas. Located in the South Wrigley area of town, this property boasts convenient access to the 710 freeway and all of downtown Long Beach. Located in a strong rental market, the City of Long Beach continues to progress forward and is currently experiencing major redevelopment. The Long Beach Port is currently undergoing 4.4 billion in future redevelopments, creating 14,000 new and permanent jobs in Southern California.

Listed by Michael Jacobs | BRE #01979550 | Kidder Mathews of California, Inc.

Last checked: 8 minutes ago | Last updated: March 22nd, 2022 | Source CRMLS | DOM: 9

Home details

Lot Sq. Ft: 2,883
HOA Dues: $0/mo
Year built: 1924
Garage: --
Property Type:: Multi Family

Status: Sold
MLS#: 21691876
City: Long Beach
County: Los Angeles
Time on Site: 1234 days

Multi-Family Unit Breakdown

Unit Mix Summary

Total # of Units: 4
Total # of Buildings: 1

Unit Breakdown 1

# of Units: 4
# of Beds: 2
# of Baths: 1
Furnishing: Unfurnished
Actual Rent: $1,388
Total Rent: $5,550
Pro Forma/Market Rent: $7,200

Multi-Family Income/Expense Information

Property Income and Analysis

Gross Rent Multiplier: 14.21
Gross Scheduled Income: --
Net Operating Income: $46,490
Gross Operating Income: $64,835

Annual Expense Breakdown

Total Operating Expense: --

Property Details for 702 E Burnett St

Interior Features

Cooling Information

No Cooling
None

Laundry Information

Has Laundry
Community

Lot Details / Garage and Parking

Parking/Garage Information

No
Parking Features: None

Lot Information

Lot Size Source: Assessor

Property Information

Total # of Units: 4
Parcel Number: 7211009001

Location / Neighborhood

Location Information

Directions: Exit the 710 south on W Willow Street. Make a right on Atlantic Ave and a left on Burnett Street. The property is on the corner of Burnett and Lime.

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Local Long Beach Agent

Sale History for 702 E Burnett St

Last sold for $950,000 on April 7th, 2021

April, 2021
Apr 8, 2021

Date

Sold

CRMLS: 21691876

$950,000

Price
Feb 19, 2021

Date

Pending

CRMLS: 21691876

$950,000

Price
Feb 10, 2021

Date

Active

CRMLS: 21691876

$950,000

Price
December, 2020
Dec 29, 2020

Date

Canceled

CRMLS: CV20248219

$1,100,000

Price
Nov 30, 2020

Date

Active

CRMLS: CV20248219

$1,100,000

Price
Listing provided courtesy of CRMLS

Beautiful spanish style income property was recently renovated and is now outstanding throughout. This wonderful two-story building has a total of 4 units that are 2 bed/1 bath each and have an open layout designed for comfort. Some of the many improvements include an entire building replumbing, complete replacement of all windows with double-pane windows, exterior paint, exterior foam accent trim, porcelain tile floors, interior and exterior doors, light fixtures, water heaters, bathrooms, updated kitchens, and gas furnaces placed in each unit. Kitchen and bathrooms include new fixtures, floor, wall tile, and cabinets. Not only does this multi-unit property feature all great new improvements, it also features an onsite laundry that allows for ease and convenience to the new owner or occupants. This generates monthly income in addition to the stable monthly rental income. Each unit has its own electric and gas meter. This home is situated in a great location close to many retail venues, dining, and freeways.

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January, 2014
Jan 6, 2014

Date

Sold (Public Records)

Public Records

$540,000

Price
February, 2011
Feb 18, 2011

Date

Sold (Public Records)

Public Records

$281,000

Price

Tax History for 702 E Burnett St

Assessed Value (2020): $605,618

Year	Land Value	Improved Value	Assessed Value
2020	$224,176	$381,442	$605,618

Home Value Compared to the Market

This property vs the competition

702 E Burnett St sold on April 7, 2021 for 6.5% higher than the current median sold price for the city of Long Beach which is $892,000. The median sold price per/sqft for Long Beach is $659 and this home is sold at $320.51 per/sqft which puts the price per square foot 51.36% lower than the current median sale per square foot for the city of Long Beach.

About 702 E Burnett St

Detailed summary of property

702 E Burnett St is a multi family that recently sold in Long Beach, CA 90806. This multi family property offered 8 bedrooms, 4 bathrooms, roughly 2,964 living square feet, and sits on an approximately 2,883 square foot lot. 702 E Burnett St was first listed on ArdentRealEstateGroup.com on February 11, 2021. The homeowner sold the property for $950,000. Home in Long Beach are selling for a median price of $892,000 and a median price per square foot of $659. Based on Ardent Real Estate Group's Long Beach Market Data, this home is sold 6.5% higher than the current median priced home. Local homes that are currently for sale include 115 W Imperial, 150 W 112th St and 9538 Compton Ave. While the average home in Long Beach, CA is selling in 52 days, 702 E Burnett St has a days on market of 9 days. There are currently 711 homes for sale in the Long Beach real estate market and 397 of them are single family homes while 292 of them are condos and 22 are townhomes. For more information on this home for sale at 702 E Burnett St Long Beach, CA 90806 contact Ardent Real Estate Group and we will put you in touch with one of our Long Beach agents.

Public Facts for 702 E Burnett St

Public county record property details

Beds: 4
Baths: 4
Year built: 1924
Sq. Ft.: 2,964
Lot Size: 2,883
Stories: --

Type: Quadruplex (4 Units, Any Combination)
Pool: No
Spa: No
County: Los Angeles
Lot#: 1
APN: 7211-009-001

The source for these homes facts are from public records.

90806 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends

Median List Price

$795,000

Median List Price/Sq.Ft.

$544

Median Sold Price

$835,000

Median Sold Price/Sq.Ft.

$657

Total Inventory

Median Sale to List Price %

111.33%

Avg Days on Market

Loan Type

Conventional (37.5%), FHA (12.5%), VA (0%), Cash (0%), Other (37.5%)

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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.