1117 East Carson Street

Long Beach, CA 90807

$2,400,000
Last Sold Price
3
Beds
8
Baths
6,937 Sq. Ft.
$346 / Sq. Ft.
6,937
Sq. Ft.
$346
per Sq. Ft.

Description

1117 East Carson Street is an 8-unit multifamily investment property located in Long Beach, California. 1117 East Carson Street offers an attractive mix of one and two-bedroom floor plans with amenities including a private lounge area for tenants, a quite central courtyard, on-site laundry, screen doors, dual-pane windows, and garage parking. This extremely well-maintained opportunity has recently underwent substantial renovations to its major systems that include a newer roof (2019), newer windows,...1117 East Carson Street is an 8-unit multifamily investment property located in Long Beach, California. 1117 East Carson Street offers an attractive mix of one and two-bedroom floor plans with amenities including a private lounge area for tenants, a quite central courtyard, on-site laundry, screen doors, dual-pane windows, and garage parking. This extremely well-maintained opportunity has recently underwent substantial renovations to its major systems that include a newer roof (2019), newer windows, electrical meters, gas meters, and in-unit plumbing (as needed). Majority of the units have been upgraded over the years and feature remodeled kitchens and bathrooms. Select units have newer wood flooring. Long Beach’s strong rental metrics, including a 2021 vacancy rate of just 1.8 percent and year-over-year rent growth of 12.1 percent, are evidence of the substantial demand for rental units in the area. With current rents below market rates, 1117 East Carson Street represents an attractive value-add opportunity for a new owner. 1117 East Carson Street is situated in the desirable Bixby Knolls neighborhood of Long Beach, which primarily features single-family homes. Residents enjoy convenient access to everyday needs as well as a plethora of retail, dining, and entertainment options at the recently constructed Long Beach Exchange just 1.85 miles away. Additionally, the property benefits from its location just over 1.25 miles north of Interstate 405, connecting residents to employment hubs throughout Los Angeles and Orange Counties.
  1. Listed by Tyler Leeson • DRE #01451551 • Brokerage DRE #00530854 • Marcus & Millichap RE Invest

Property Details for 1117 East Carson Street

Parking Spaces Total
5
Private Pool
No
Total Units
8.0
Building Type
Detached
Lot Size Source
Assessor
Living Area
6937
Assessor Parcel Number
7138-012-028
Property Attached YN
false
LISTING UPDATED: 01/24/2023 02:47 AM

Property Details for 1117 East Carson Street

StatusClosed
MLS #OC22211290
Days on Market44
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1948
Lot Size0.21 AC / 9,147 SF
CountyLos Angeles County

Building Information for 1117 East Carson Street

Stories2Residences-Year Built1948Building Size-Lot Size0.21 AC / 9,147 SF

Property Information for 1117 East Carson Street

Income / Expense / Tax Details
Income Details
  • Gross Income: $149,090
  • Gross Scheduled Income: $147,600
  • Vacancy Allowance: 4428
  • Gross Operating Income: $144,662
  • Net Operating Income: $86,065
  • Other Income Description: Miscellaneous
  • Other Income 1: $1,490
  • Financing: Cash To New Loan
Expense Details
  • Operating Expense: $58,597
  • New Taxes Expense: $29,777
  • Fuel Expense: $1,100
  • Electric Expense: $1,100
  • Insurance Expense: $2,671
  • Maintenance Expense: $6,000
  • Professional Management Expense: $7,233
  • Other Expense: $8,516
  • Other Expense Description: Misc
  • Trash Expense: $1,100
  • Water Sewer Expense: $1,100
  • Total Expenses: $58,597
Tax / Assessment Info
  • Tax Tract Number: 13289
  • Tax Census Tract: 5719.00
  • CFD/Mello-Roos Fee: $1,516
  • Tax Lot: 91
Community / Development
Community / Development
  • Assessments YN: Yes
  • Assessments: Special Assessments
  • Community Features: Curbs, Sidewalks
Property / Structure Info
Interior Features
  • Laundry: Yes
  • Laundry Features: Community
Exterior Features
  • Pool Features: None
  • Pool Description: None
  • Pool: N/K
Land/Lot Info
  • Lot Features: Lawn
  • Number Of Units: 8
  • 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
Unit Information
Unit 1
  • Unit Type Units Total: 4
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 3
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $5,480
  • Unit Type Total Rent: $5,480
  • Unit Type Pro Forma: 7800
  • Unit Type Type: 1
Unit 2
  • Unit Type Units Total: 4
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 2
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $6,820
  • Unit Type Total Rent: $6,820
  • Unit Type Pro Forma: 9000
  • Unit Type Type: 2
Unit Information
  • Number Of Units Leased: 8
  • Rent Controlled: Yes
  • Number Of Buildings: 1
  • Number Of Separate Electric Meters: 8
  • Number Of Separate Gas Meters: 8
  • Number Of Separate Water Meters: 1

Property History for 1117 East Carson Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

Public Records for 1117 East Carson Street

Taxable ValueLand$1,632,000Additions$816,000Total$2,448,000
Tax Record2024$32,066 ($2,672 / month)
Home Facts
Total Finished SqFt6,937 SqFtAbove Grade Finished SqFt6,937 SqFtLot Size9,157 SqFtStyleMulti-Family Res (5+ Units)Year Built1948ZoningLBR3SCountyLOS ANGELESAPN7138-012-028

Schools near 1117 East Carson Street

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
Charter - 6 to 8
Rating
School
Distance
Longfellow Elementary School
PublicK to 5

Hughes Middle School
Public6 to 8

Polytechnic High School
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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Similar Sold Homes

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Listing Courtesy of Marcus & Millichap RE Invest, Tyler Leeson, DRE #01451551

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.