1021 Prospect Ave

Long Beach, CA 90804

$1,557,500
Last Sold Price
7
Beds
6
Baths
4,032 Sq. Ft.
$386 / Sq. Ft.
4,032
Sq. Ft.
$386
per Sq. Ft.
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Closed 9/17/19
Closed 9/17/19

Description

RARE Opportunity and first time on the market in a very long time. Highly desirable location with very stable occupants make this the perfect addition to your portfolio. Ground floor 2 bedroom 1 bath, Ground floor 1 bedroom 1 bath, and 4 additional 1 bedroom 1 bath units. All units have A/C heat and Gas appliances. Well maintained building. Many features such as auto shut off on gas meters, 2 enclosed garages, and even a laundry room for additional income. Rent potential well over 100K yearly. The...RARE Opportunity and first time on the market in a very long time. Highly desirable location with very stable occupants make this the perfect addition to your portfolio. Ground floor 2 bedroom 1 bath, Ground floor 1 bedroom 1 bath, and 4 additional 1 bedroom 1 bath units. All units have A/C heat and Gas appliances. Well maintained building. Many features such as auto shut off on gas meters, 2 enclosed garages, and even a laundry room for additional income. Rent potential well over 100K yearly. The grounds are clean and offer a nice blend of privacy as well some common spaces for relaxing. The neighborhood is a wonderful mix of single family residences as well multi units. Perfect for owner occupancy or investor. Great long term tenants, building always stays rented as this is one of the most desirable Long Beach locations, Convenient to top-rated school systems, Recreation Park, Billy Jean king Tennis courts, Blair field, farmers markets, also just minutes from Belmont Shore and the ocean, this location can not be beat.

Listing Agent

  1. David Steinberg

    David Steinberg

    Listing Agent

    Compass

    DRE #01921010

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Property Details for 1021 Prospect Avenue

Parking Spaces Total
2
Private Pool
No
Cooling Type
Wall/Window
Total Units
6.0
Building Type
Attached
Lot Size Source
Assessor
Living Area
4032
Assessor Parcel Number
7241-012-097
LISTING UPDATED: 09/17/2019 10:03 AM

Property Details for 1021 Prospect Avenue

StatusClosed
MLS #PW19168168
Days on Market7
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1953
Lot Size0.09 AC / 3,752 SF
CountyLos Angeles County
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Location

Listing Courtesy of Coldwell Banker Coastal Alliance, David Steinberg, DRE #01921010

Sold By First Team Real Estate, Cindy Ludwig, DRE #01020764

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Building Information for 1021 Prospect Avenue

Stories2Residences-Year Built1953Building Size-Lot Size0.09 AC / 3,752 SF

Payment Calculator

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OriginPoint Mortgage or Rocket Mortgage1

$9,494 per month

30 year fixed, 6.15% Interest

Principal and Interest

$7,591

Property Taxes

$1,903

HOA Dues

$0

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Property Information for 1021 Prospect Avenue

Rental Info
Rental Info
  • Tenant Pays: All Utilities
Income / Expense / Tax Details
Income Details
  • Gross Income: $92,918
  • Gross Scheduled Income: $115,000
  • Net Operating Income: $92,918
  • Number Of Rented Garages: 2
  • Garage Rental Rate: $200
  • Laundry Income: $650
  • Cap Rate: 5.8
  • Financing: Cash
Expense Details
  • Operating Expense: $22,082
  • New Taxes Expense: $18,000
  • Pest Control Expense: $350
  • Insurance Expense: $2,402
  • Professional Management Expense: $0
  • Trash Expense: $0
  • Water Sewer Expense: $1,680
  • Total Expenses: $22,082
Tax / Assessment Info
  • Tax Tract Number: 7241
  • Tax Census Tract: 5770.00
  • Tax Lot: 12
Community / Development
Community / Development
  • Assessments YN: Yes
  • Assessments: Unknown
  • Community Features: Sidewalks
Property / Structure Info
Interior Features
  • Laundry: Yes
  • Laundry Features: Community, Outside
  • Laundry Equipment Own Lease: Lease
  • Fireplace Features: None
  • Fireplace Rooms: None
  • Cooling: Wall/Window Unit(s)
  • Heating Type: Wall
  • Heating: Wall Furnace
Exterior Features
  • Roof: Rolled/Hot Mop
  • Pool Features: None
  • Pool Description: None
  • Pool: N/K
Land/Lot Info
  • Lot Features: Park Nearby
  • Number Of Units: 6
  • Land Lease: No
  • Land Lease Type: Fee
  • Levels: Two
  • Water: Meter on Property
  • Sewer: Public Sewer
  • Utilities: Electricity Available
  • Water Source: Public
Parking Info
  • Garage Spaces: 2
  • Parking: Yes
  • Parking Garage: Covered Parking, Garage
  • Parking Garage Spaces: 2
  • Carport Spaces: 0
  • Parking Features: Covered, Garage
Property / Structure Info
  • Builders Tract Name: Alamitos Heights
  • Builders Tract Code: Alamitos Heights (AH)
Unit Information
Unit 1
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: Yes
  • Unit Type Actual Rent: $990
  • Unit Type Total Rent: $990
  • Unit Type Pro Forma: 2000
  • Unit Type Type: 1
Unit 2
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $1,500
  • Unit Type Total Rent: $975
  • Unit Type Pro Forma: 1600
  • Unit Type Type: 2
Unit 3
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $962
  • Unit Type Total Rent: $900
  • Unit Type Pro Forma: 1500
  • Unit Type Type: 3
Unit 4
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $990
  • Unit Type Total Rent: $900
  • Unit Type Pro Forma: 1500
  • Unit Type Type: 4
Unit 5
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $990
  • Unit Type Total Rent: $900
  • Unit Type Pro Forma: 1500
  • Unit Type Type: 5
Unit 6
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $990
  • Unit Type Total Rent: $875
  • Unit Type Pro Forma: 1500
  • Unit Type Type: 6
Unit Information
  • Number Of Units Leased: 6
  • Rent Controlled: No
  • Number Of Buildings: 1
  • Number Of Separate Electric Meters: 6
  • Number Of Separate Gas Meters: 6
  • Number Of Separate Water Meters: 1
  • Number With Range: 6
  • Number With Refrigerator: 6
  • Number Wall AC: 6

Property History for 1021 Prospect Avenue

DateEvent & SourcePriceAppreciation
Sep 17, 2019

Sold

SDMLS #PW19168168

$1,557,500—
Sep 17, 2019

Sold

CLAW #PW19168168MR

$1,557,500—
Sep 17, 2019

Sold

CRMLS #PW19168168

$1,557,500—
Sep 6, 2019

Sold (Public Record)

Public Record #652456527

$1,557,500—
Jul 25, 2019

Pending

CRMLS #PW19168168

—
Jul 25, 2019

Pending

CLAW #PW19168168MR

—
Jul 18, 2019

Listed (Active)

CRMLS #PW19168168

$1,575,000—
Jul 18, 2019

Listed (Active)

SDMLS #PW19168168

$1,575,000—
Jul 18, 2019

Listed (Active)

CLAW #PW19168168MR

$1,575,000—
DateEvent & SourcePrice
09/17/2019

Sold

SDMLS #PW19168168

$1,557,500
09/17/2019

Sold

CLAW #PW19168168MR

$1,557,500
09/17/2019

Sold

CRMLS #PW19168168

$1,557,500
09/06/2019

Sold (Public Record)

Public Record #652456527

$1,557,500
07/25/2019

Pending

CRMLS #PW19168168

—
07/25/2019

Pending

CLAW #PW19168168MR

—
07/18/2019

Listed (Active)

CRMLS #PW19168168

$1,575,000
07/18/2019

Listed (Active)

SDMLS #PW19168168

$1,575,000
07/18/2019

Listed (Active)

CLAW #PW19168168MR

$1,575,000

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 1021 Prospect Avenue

Taxable ValueLand$1,093,645Additions$609,705Total$1,703,350
Tax Record2025$22,832 ($1,903 / month)
Home Facts
Total Finished SqFt4,032 SqFtAbove Grade Finished SqFt4,032 SqFtLot Size3,752 SqFtStyleMulti-Family Res (5+ Units)Year Built1953ZoningLBR4RCountyLOS ANGELESAPN7241-012-097

Schools near 1021 Prospect Avenue

This home is within Long Beach Unified School District.
Rating
School
Type
Grades
Distance
Bryant Elementary School
Public - K to 5
Jefferson Leadership Academies School
Public - 6 to 8
Wilson High School
Public - 9 to 12
Richard D. Browning High
Public - 9 to 12
Rating
School
Distance
Bryant Elementary School
PublicK to 5

Jefferson Leadership Academies School
Public6 to 8

Wilson High School
Public9 to 12

Richard D. Browning High
Public9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass, Inc., its subsidiaries, affiliates and their agents and associated third parties expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Coldwell Banker Coastal Alliance, David Steinberg, DRE #01921010

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.