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937 E 20th St Long Beach, CA 90806

$1,210,000 Sold Price as of 08/23/2019

8 Beds
4 Baths
5,304 Sq.Ft.

Sold

$1,210,000 Sold Price as of 08/23/2019 Refinance Your Mortgage

Map preview of 937 E 20th St, Long Beach, CA 90806

Property Overview: 937 E 20th St Long Beach, CA has 8 bedrooms, 4 bathrooms, 5,304 living square feet and 9,046 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: 5.62% Cap Rate on current rents and potential 7.25 cap on market rents. It also features, new copper plumbing, newer electric wiring, 10 parking in oversized parking lot, four 2 bedroom units each with a large den that can operate as a third bedroom, and a 9,000 square foot lot. This is by far one of the best 4 unit opportunities to hit the market in the fastest growing Beach City of Long Beach. This is the best Price Per Foot available! Do not miss this deal! This 4 unit has more upside and a better current cap than anything out there.

Listed by Cameron Samimi | BRE #02035763 | Lyon Stahl Investment Real Estate, Inc.

Last checked: 7 minutes ago | Last updated: March 22nd, 2022 | Source CRMLS | DOM: 28

Home details

Lot Sq. Ft: 9,046
HOA Dues: $0/mo
Year built: 1911
Garage: --
Property Type:: Multi Family

Status: Sold
MLS#: SB19169226
City: Long Beach
County: Los Angeles
Time on Site: 1521 days

Multi-Family Unit Breakdown

Unit Mix Summary

Total # of Units: 4
Total # of Buildings: 1
# of Electric Meters: 4
# of Gas Meters: 4
# of Water Meters: 1

Unit Breakdown 1

# of Units: 1
# of Beds: 2
# of Baths: 1
Garage Spaces: 0
Garaged Attached? No
Furnishing: Unfurnished
Actual Rent: $1,850
Total Rent: $1,850
Pro Forma/Market Rent: $2,200

Unit Breakdown 2

# of Units: 1
# of Beds: 2
# of Baths: 1
Garage Spaces: 0
Garaged Attached? No
Furnishing: Unfurnished
Actual Rent: $2,030
Total Rent: $2,030
Pro Forma/Market Rent: $2,200

Unit Breakdown 3

# of Units: 1
# of Beds: 2
# of Baths: 1
Garage Spaces: 0
Garaged Attached? No
Furnishing: Unfurnished
Actual Rent: $2,050
Total Rent: $2,050
Pro Forma/Market Rent: $2,200

Unit Breakdown 4

# of Units: 1
# of Beds: 2
# of Baths: 1
Garage Spaces: 0
Garaged Attached? No
Furnishing: Unfurnished
Total Rent: $0
Pro Forma/Market Rent: $2,200

Multi-Family Income/Expense Information

Property Income and Analysis

Cap Rate: 5.36%
Gross Rent Multiplier: 12.63
Gross Scheduled Income: $96,960
Net Operating Income: $65,383
Gross Operating Income: --

Annual Expense Breakdown

Total Operating Expense: $26,729
Electric: $0
Gas/Fuel: $0
New Taxes: $0
Trash: $0
Insurance: $0
Water/Sewer: $0

Property Details for 937 E 20th St

Interior Features

Laundry Information

Has Laundry
Electric Dryer Hookup, Washer Hookup

Exterior Features

No Pool
Pool Features: None

Lot Details / Garage and Parking

Lot Information

Lot Features: 0-1 Unit/Acre
Lot Size Source: Assessor

Property Information

Common Walls: 1 Common Wall
Total # of Units: 4
Parcel Number: 7210005025
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: Poly High (PH)
Directions: Corner of 20th St. and MLK Ave.

Neighborhood Information

Community Features: Curbs, Sidewalks, Suburban

View more facts & features

Local Long Beach Agent

Sale History for 937 E 20th St

Last sold for $1,210,000 on August 23rd, 2019

September, 2019
Sep 13, 2019

Date

Expired

CRMLS: SB19071981

$1,250,000

Price
Jul 17, 2019

Date

Withdrawn

CRMLS: SB19071981

$1,250,000

Price
Jul 17, 2019

Date

Active

CRMLS: SB19071981

$1,250,000

Price
Jul 3, 2019

Date

Withdrawn

CRMLS: SB19071981

$1,250,000

Price
Apr 1, 2019

Date

Active

CRMLS: SB19071981

$1,250,000

Price
Listing provided courtesy of CRMLS

Offering a 5.23% Cap Rate on current rents, 10 parking, four 3 bedroom units, and a 9,000 square foot lot, this is by far one of the best 4 unit opportunities to hit the market in the fastest growing Beach City of Los Angeles. All units are currently rented and have room to grow the cap rate to over a 7.53%. It's very rare to have parking in Long Beach and many neighbors charge $150 per space. You can lease these spaces to tenants and neighbors for extra income. One of the largest 4-unit properties to hit the market, this value-add asset is the perfect investment for an exchange buyer or owner looking to own a piece of one of Southern California's last affordable beach communities.

Continue Reading
August, 2019
Aug 23, 2019

Date

Sold

CRMLS: SB19169226

$1,210,000

Price
Aug 13, 2019

Date

Pending

CRMLS: SB19169226

$1,225,000

Price
Jul 17, 2019

Date

Active

CRMLS: SB19169226

$1,225,000

Price
August, 2019
Aug 21, 2019

Date

Sold (Public Records)

Public Records

$1,210,000

Price
January, 2006
Jan 23, 2006

Date

Sold (Public Records)

Public Records

$849,000

Price

Tax History for 937 E 20th St

Assessed Value (2020): $1,210,000

Year	Land Value	Improved Value	Assessed Value
2020	$800,000	$410,000	$1,210,000

Home Value Compared to the Market

This property vs the competition

937 E 20th St sold on August 23, 2019 for 49.57% 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 $230.96 per/sqft which puts the price per square foot 63.22% lower than the current median sale per square foot for the city of Long Beach.

About 937 E 20th St

Detailed summary of property

937 E 20th St is a multi family that recently sold in Long Beach, CA 90806. This multi family property offered 8 bedrooms, 4 bathrooms, roughly 5,304 living square feet, and sits on an approximately 9,046 square foot lot. 937 E 20th St was first listed on ArdentRealEstateGroup.com on July 21, 2020. The homeowner sold the property for $1,210,000. 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 49.57% higher than the current median priced home. Local homes that are currently for sale include 1021 Pacific Ave, 1816 Oregon Ave and 1816 Oregon Ave. While the average home in Long Beach, CA is selling in 62 days, 937 E 20th St has a days on market of 28 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 937 E 20th 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 937 E 20th St

Public county record property details

Beds: 8
Baths: 4
Year built: 1911
Sq. Ft.: 5,304
Lot Size: 9,045
Stories: --

Type: Quadruplex (4 Units, Any Combination)
Pool: No
Spa: No
County: Los Angeles
Lot#: 22,24
APN: 7210-005-025

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

$749,900

Median List Price/Sq.Ft.

$531

Median Sold Price

$920,000

Median Sold Price/Sq.Ft.

$534

Total Inventory

Median Sale to List Price %

100%

Avg Days on Market

Loan Type

Conventional (100%), FHA (0%), VA (0%), Cash (0%), Other (0%)

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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.