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Sold on 09/01/2009
$485,000
1017 CERRITOS Ave Long Beach, CA 90813
| Beds: | - |
| Baths: | - |
| Sq. Ft.: | 3,654 |
| $/Sq. Ft.: | $133 |
| Lot Size: | 2,997 Sq. Ft. |
| Property Type: | Multi-Family |
| Style: | Two Level, Spanish |
| Year Built: | 1928 |
| Community: | Downtown Area/Alamitos Beach |
| County: | Los Angeles |
| MLS#: | P691895 |
| Source: | SoCalMLS |
| Status: | Closed |
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* * * FULLY REHABBED REO 4-PLEX!!! * * * This LARGE 4-unit property has been completely gutted and renovated; NEW CARPET & FLOORING, NEW FIXTURES, NEW CABINETS, NEW WINDOWS, NEW PAINT INTERIOR & EXTERIOR, NEW LANDSCAPING, ETC!! Subject lacks off-street parking but more than compensates with exceptional condition and high-demand rental area!! NOTE: we have received notification from assessor's office that tax roll information will be changed from prior 1bed/1bath per unit to (actual) 2bd/1bath configuration per unit!! Units are 100% VACANT and rents & expenses are projected. Water heaters will be installed prior to close of escrow. Window bars being installed 6/18/09 on ground floor units.
Heating & Cooling
- Water Heaters
- Water Heater
Community Features
- Units in Complex (Total): 4
Location Information
- Cross Streets: N 10th Street/E Alamitos
- Driving Directions: East on 10th Street from Alamitos 1 block to Cerritos, left (north) and park
- Tax Area: 11933
- Legal Tract #: 5764
- Legal Block #: A
- Legal Lot #: 25
Expense Information
- Operating: $7,200
- Operating (%): 15
- Tax: $6,050
Utility Information
- Sewer In Street (Paid)
- District/Public Water
Multi-Family Information
- Type of Business: 4-PLEX
- # of Buildings: 1
- # of Electric Meters: 4
- # of Gas Meters: 4
- # of Water Meters: 1
Property Information
- Updated/Remodeled
- Land Lease Type: Fee
- Square Footage Source: Public Records
- Tax Parcel Number: 7267005027
- Legal Disclosures: Real Estate Owned
Listing Information
- MLS: SoCalMLS
- Possession: Close of Escrow Plus
- Listing Terms: Cash To New Loan
- Buyer Financing: FHA
Building Information
- Ground Level Entry (With Steps)
- Stucco Exterior
- Builders Tract Name: Downtown
- Builders Tract Code: DT
Lot Information
- Lot Size (Sq. Ft.): 2,997
- Lot Size Source: Public Records
- On Alley
Financial Information
- Capitalization Rate (%): 7.68
- Sold Capitalization Rate (%): 7.92
- Gross Equity: $549,900
- Net Operating Income: $38,400
- Monthly Gross Income: $4,000
- Actual Gross Annual Income: $48,000
- Gross Operating Income: $45,600
- Gross Scheduled Income: $48,000
- Gross Spendable Income: $38,400
- Actual Annual Gross Rent: $48,000
- Gross Rent Multiplier: 10.41
- Private Transfer Taxes
- Vacancy Allowance: $2,400
- Vacancy Allowance (%): 5
Listing last changed
September 1, 2009, 3:41 PM
Overhead View of 1017 CERRITOS Ave, Long Beach, CA 90813
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Property History for 1017 CERRITOS Ave
| Date | Event | Price | Appreciation | Source |
|---|---|---|---|---|
| Sep 01, 2009 | Sold (Public Records) | $485,000 | -12.3%/yr | Public Records |
| Sep 01, 2009 | Sold (MLS) | $485,000 | -- | Inactive SoCalMLS #5 |
| Jul 20, 2009 | Delisted | -- | -- | Inactive SoCalMLS #5 |
| Jul 01, 2009 | Price Changed | $499,900 | -- | Inactive SoCalMLS #5 |
| Jun 19, 2009 | Listed | $549,900 | -- | Inactive SoCalMLS #5 |
| Mar 28, 2008 | Sold (Public Records) | $585,000 | -19.9%/yr | Public Records |
| Jul 31, 2006 | Sold (Public Records) | $845,000 | 5.8%/yr | Public Records |
| Jul 20, 2005 | Sold (Public Records) | $797,000 | -- | Public Records |
What's the difference between "Sold (Public Records)" and "Sold (MLS)"?
NOTICE: There are past MLS listings for this property which are not being shown. In order to see these listings, MLS Rules require that you Sign In.
Public Facts for 1017 CERRITOS Ave
| Beds: | 12 |
| Baths: | 4.0 |
| Finished Sqft: | 3654 |
| Unfinished Sqft: | - |
| Total Sqft: | 3654 |
| Floors: | - |
| Lot Size: | 2,997 |
| Style: | Multi-Family (2-4 Unit) |
| Year Built: | 1928 |
| Year Renovated: | - |
| County: | Los Angeles County |
| APN: | 7267005027 |
| Last Updated: | November 19, 2009 |
These facts may not match MLS-provided listing facts.
Learn more.
Source: Public Records
Property Tax
| Taxable Value | |
| Land | $255,000 |
| Additions | $341,700 |
| Total | $596,700 |
| Tax (2008) | $9,116 |
Home Value Estimates for 1017 CERRITOS Ave
| Low | Estimate | High | |
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| Range: | $348,480 - $988,000 |
| Average: | $165/Sq. Ft. |
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Closest homes similar to 1017 CERRITOS Ave, which sold within the past six months:
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$499,000
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| Range: | $375,000 - $560,000 |
| Average: | $119/Sq. Ft. |
Link to this page at
http://www.redfin.com/CA/Long-Beach/1017-Cerritos-Ave-90813/home/7612761
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