1034 Newport Avenue

Long Beach, CA 90804

$1,675,000
Price
7
Beds
7
Baths
4,170 Sq. Ft.
$402 / Sq. Ft.
4,170
Sq. Ft.
$402
per Sq. Ft.

Description

4 units in a great LB location with a 91 Walk Score, nearby shopping, dining, Rec Park and more. Attractive unit mix: 1-3BR/2BA (single story), 2-2BR/2BA (2 story townhouses) and 1-2BR/1BA (2 story townhouse). Most units remodeled with new floors, all units are spacious and with well appointed floorplans. All units have a separate water heater and all electric building. Ample parking:(3) single car garages and (1) two car garage. Garages had a brand new roof last year. Onsite laundry facility and...4 units in a great LB location with a 91 Walk Score, nearby shopping, dining, Rec Park and more. Attractive unit mix: 1-3BR/2BA (single story), 2-2BR/2BA (2 story townhouses) and 1-2BR/1BA (2 story townhouse). Most units remodeled with new floors, all units are spacious and with well appointed floorplans. All units have a separate water heater and all electric building. Ample parking:(3) single car garages and (1) two car garage. Garages had a brand new roof last year. Onsite laundry facility and the entire property is gated and fully secured. The property currently grosses approx $113,700 per year and is priced attractively at a real 4.31% CAP (actual) and a 14.73 GRM. At market rents the property is a 12.50 GRM and 5.45% CAP. Approx 18% upside in current rents.
  1. Listed by Brian Estes • DRE #01394559 • Brokerage DRE #01508014 • Re/Max Commercial & Investment • 310-963-2894

Property Details for 1034 Newport Avenue

Parking Spaces Total
5
Private Pool
No
Total Units
4.0
Building Type
Attached
Lot Size Source
Assessor
Living Area
4170
Assessor Parcel Number
7258-008-006
Property Attached YN
true
LISTING UPDATED: 12/04/2024 04:36 AM

Property Details for 1034 Newport Avenue

StatusActive
MLS #SB24243567
Days on Market14
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1972
Lot Size0.14 AC / 6,251 SF
CountyLos Angeles County

Building Information for 1034 Newport Avenue

Stories2Residences-Year Built1972Building Size-Lot Size0.14 AC / 6,251 SF

Property Information for 1034 Newport Avenue

Income / Expense / Tax Details
Income Details
  • Gross Income: $113,700
  • Gross Scheduled Income: $113,700
  • Vacancy Allowance: 3411
  • Gross Operating Income: $110,289
  • Net Operating Income: $72,179
Expense Details
  • Operating Expense: $38,110
  • Fuel Expense: $0
  • Insurance Expense: $0
  • Trash Expense: $0
  • Water Sewer Expense: $0
  • Total Expenses: $38,110
Tax / Assessment Info
  • Tax Block: B
  • Tax Tract Number: 577000
  • Tax Census Tract: 5770.00
  • CFD/Mello-Roos Fee: $934
  • Tax Lot: 12
Community / Development
Community / Development
  • Community Features: Suburban
Property / Structure Info
Interior Features
  • Laundry: Yes
  • Laundry Features: Common Area
Exterior Features
  • Entry Location: 1
  • Pool Features: None
  • Pool Description: None
  • Pool: N/K
Land/Lot Info
  • Lot Features: Level
  • Number Of Units: 4
  • Land Lease: No
  • Land Lease Type: Fee
  • Levels: Two
  • Water: Public
  • Sewer: Public Sewer
  • Water Source: Public
Parking Info
  • Garage Spaces: 5
  • Parking Garage Spaces: 5
  • Carport Spaces: 0
Property / Structure Info
  • Builders Tract Name: Circle
  • Builders Tract Code: Circle (CA)
Unit Information
Unit 1
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 3
  • Unit Type Baths Total: 2
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 2
  • Unit Type Garage Attached: Yes
  • Unit Type Actual Rent: $3,170
  • Unit Type Total Rent: $3,170
  • Unit Type Pro Forma: 3400
  • Unit Type Type: 1
Unit 2
  • Unit Type Units Total: 2
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 2
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: Yes
  • Unit Type Actual Rent: $2,108
  • Unit Type Total Rent: $4,215
  • Unit Type Pro Forma: 5000
  • Unit Type Type: 2
Unit 3
  • 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: $1,990
  • Unit Type Total Rent: $1,990
  • Unit Type Pro Forma: 2500
  • Unit Type Type: 3
Unit Information
  • Rent Controlled: Yes
  • Number Of Buildings: 1
  • Number Of Separate Electric Meters: 4
  • Number Of Separate Gas Meters: 0
  • Number Of Separate Water Meters: 1

Property History for 1034 Newport Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

Public Records for 1034 Newport Avenue

Taxable ValueLand$914,724Additions$385,968Total$1,300,692
Tax Record2024$17,086 ($1,424 / month)
Home Facts
Total Finished SqFt4,170 SqFtAbove Grade Finished SqFt4,170 SqFtLot Size6,251 SqFtStyleQuadraplexYear Built1972ZoningLBR4RCountyLOS ANGELESAPN7258-008-006

Schools near 1034 Newport Avenue

This home is within Long Beach Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Public - 9 to 12
Rating
School
Distance
Willard 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.

Similar Homes

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1034 Newport Avenue is a multi-family home for sale in Long Beach, CA 90804. This property was listed for sale on December 3, 2024 by Re/Max Commercial & Investment, it's currently listed at $1,675,000. It has been on the market for a total of 14 days and was last sold on October 3, 2017. This listing's school district is Long Beach Unified School District. Nearby schools include Willard Elementary School, Jefferson Leadership Academies School and Wilson High School. 1034 Newport Avenue is a 7-bed, 7-bath, 4,170 sqft multi-family home built in 1972.

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 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 Re/Max Commercial & Investment, Brian Estes, DRE #01394559

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.