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907 Grand Ave, Long Beach, CA 90804
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907 Grand Ave Long Beach, CA 90804

$4,375,000 Sold Price as of 12/16/2021
  • 20 Beds
  • 13 Baths
  • 8,810 Sq.Ft.
Sold
$4,375,000 Sold Price as of 12/16/2021 Refinance Your Mortgage
Map preview of 907 Grand Ave, Long Beach, CA 90804

Property Overview: 907 Grand Ave Long Beach, CA has 20 bedrooms, 13 bathrooms, 8,810 living square feet and 12,192 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: 907-927 Grand Avenue is a 13-unit investment asset located in the popular Eastside Long Beach rental market. Situated on two parcels, the property is comprised of three separate structures featuring a favorable mix of seven 2BD / 1BA and six 1BD / 1BA units. The property has been extensively renovated. Unit interior renovations totaling over $340,000 include: New vinyl plank flooring & custom bathroom tile, Modern designer cabinets & countertops, New appliances, New energy-efficient LED lighting, New upgraded electrical sub-panels in-unit. POTENTIAL TO BUILD 2 ADUs. The property offers onsite laundry facilities and eight garages. Four of the garages are in a stand-alone structure and have the capacity to be converted to two ADUs of approximately 350 square feet each. The addition of these two ADUs has the potential to add $1,500 rental income per unit per month, for a total combined income of $36,000 annually. PRIME EASTSIDE LOCATION. Located in prime Eastside Long Beach, which has a Walk Score of 91, the property provides tenants with convenient, walkable access to all amenities for day-to-day living. The neighborhood is ranked as one of the best neighborhoods in Long Beach for young professionals by Niche.com. The median household income is $118,600 and 31% of residents are families with children. The seller's renovations and management provide a new buyer with a solid investment at 4.25% cap rate on actuals.

Listed by Robert Stepp | BRE #01456379 | Keller Williams - Santa Monica
Last checked: 2 minutes ago | Last updated: March 23rd, 2022 | Source CRMLS | DOM: 75

Home details

Lot Sq. Ft
12,192
HOA Dues
$0/mo
Year built
1963
Garage
8 Car
Property Type:
Multi Family
Status
Sold
MLS#
PW21178294
City
Long Beach
County
Los Angeles
Time on Site
1134 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 13
  • Total # of Buildings: 3
  • # of Electric Meters: 13
  • # of Gas Meters: 13
  • # of Water Meters: 1
Unit Breakdown 1
  • # of Units: 7
  • # of Beds: 2
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $2,073
  • Total Rent: $14,511
  • Pro Forma/Market Rent: $2,195
Unit Breakdown 2
  • # of Units: 6
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,403
  • Total Rent: $8,418
  • Pro Forma/Market Rent: $1,775
Multi-Family Income/Expense Information
Property Income and Analysis
  • Gross Rent Multiplier: --
  • Gross Scheduled Income: $290,700
  • Net Operating Income: $185,850
  • Gross Operating Income: --
Annual Expense Breakdown
  • Total Operating Expense: $90,315
  • Electric: $1,325
  • Gas/Fuel: $1,325
  • Licenses: $500
  • New Taxes: $55,228
  • Trash: $1,325
  • Gardener: $2,340
  • Insurance: $5,500
  • Maintenance: $7,500
  • Professional Management: $11,047
  • Water/Sewer: $1,325
  • Other Expenses: $2,300
  • Other Expense Description: Reserves

Property Details for 907 Grand Ave

Interior Features
Laundry Information
  • Has Laundry
  • Outside
Interior Features
  • Levels: Two
Exterior Features
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Garage Spaces: 8
  • # of Parking Spaces: 8
  • Has Parking
  • Parking Features: Garage
Lot Information
  • Lot Features: 11-15 Units/Acre
  • Lot Size Source: Assessor
  • Common Interest: Community Apartment
Property Information
  • Common Walls: 2+ Common Walls
  • Total # of Units: 13
  • Parcel Number: 7254015025
  • Year Built Source: Assessor
  • Property is Attached
  • Has Additional Parcels
Homeowners Association, Utilities, Taxes / Assessments
Utilities Information
  • Sewer: Public Sewer
  • Water Source: Public
Location / Neighborhood
Location Information
  • Subdivision Name: Eastside (ES)
  • Directions: E 10th St & Grand Ave
Neighborhood Information
  • Community Features: Urban
View more facts & features

Local Long Beach Agent

Sale History for 907 Grand Ave

Last sold for $4,375,000 on December 16th, 2021

  • October, 2021

  • Oct 26, 2021

    Date

    Pending

    CRMLS: PW21178294

    $4,500,000

    Price

  • Aug 12, 2021

    Date

    Active

    CRMLS: PW21178294

    $4,500,000

    Price

  • May, 2019

  • May 22, 2019

    Date

    Sold

    CRMLS: PW19070100

    $3,100,000

    Price

  • Mar 29, 2019

    Date

    Pending

    CRMLS: PW19070100

    $3,100,000

    Price

  • Mar 29, 2019

    Date

    Active

    CRMLS: PW19070100

    $3,100,000

    Price

  • Listing provided courtesy of CRMLS

    13-unit Property consists of 7 two bedroom, one bath units at 907 Grand Avenue (built in 1963) and 6 one bedroom, one bath units at 917-927 Grand Ave (built in the 1930s). Two separate tax parcels but being marketed and sold as one property. Lots of exterior upgrades. Unit interiors need upgrading but there is plenty of upside rent potential.

  • May, 2019

  • May 22, 2019

    Date

    Sold (Public Records)

    Public Records

    $3,090,000

    Price

  • December, 2004

  • Dec 30, 2004

    Date

    Sold (Public Records)

    Public Records

    $1,400,000

    Price

Show More

Tax History for 907 Grand Ave

Assessed Value (2020): $1,929,550
Year Land Value Improved Value Assessed Value
2020 $1,346,400 $583,150 $1,929,550

Home Value Compared to the Market

This property vs the competition

907 Grand Ave sold on December 16, 2021 for 434.19% 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 $496.59 per/sqft which puts the price per square foot 20.92% lower than the current median sale per square foot for the city of Long Beach.

About 907 Grand Ave

Detailed summary of property

907 Grand Ave is a multi family that recently sold in Long Beach, CA 90804. This multi family property offered 20 bedrooms, 13 bathrooms, roughly 8,810 living square feet, and sits on an approximately 12,192 square foot lot. 907 Grand Ave was first listed on ArdentRealEstateGroup.com on August 12, 2021. The homeowner sold the property for $4,375,000. 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 434.19% higher than the current median priced home. Local homes that are currently for sale include 11662 Stuart Dr, 1100-1108 W Valencia Dr and 13705 Franklin St. While the average home in Long Beach, CA is selling in 62 days, 907 Grand Ave has a days on market of 75 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 907 Grand Ave Long Beach, CA 90804 contact Ardent Real Estate Group and we will put you in touch with one of our Long Beach agents.

Public Facts for 907 Grand Ave

Public county record property details
Beds
14
Baths
7
Year built
1963
Sq. Ft.
5,930
Lot Size
5,874
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
22
APN
7254-015-025

The source for these homes facts are from public records.

90804 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$500,000
Median List Price/Sq.Ft.
$622
Median Sold Price
$450,000
Median Sold Price/Sq.Ft.
$534
Total Inventory
44
Median Sale to List Price %
97.83%
Avg Days on Market
30
Loan Type
Conventional (62.5%), FHA (12.5%), VA (12.5%), Cash (12.5%), 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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