219 West 9th Street

Long Beach, CA 90813

$2,400,000
Price
10
Beds
8
Baths
6,365 Sq. Ft.
$377 / Sq. Ft.
6,365
Sq. Ft.
$377
per Sq. Ft.

Description

219 W. 9th Street is an eight-unit apartment community located near Downtown Long Beach, operating at a 6.18% cap rate and 11.42 GRM . The property is comprised of three buildings on a 7,500 square foot lot. The property consists of five units constructed in 1983 and three original units built in 1929. 219 W. 9th Street has a varied unit mix of: two Junior 1BD/1BA, three 1BD/1BA, one 2BD/2BA, and two 3BD/1BA. Six of these units have been upgraded with high-end finishes, including in-unit washer/dryers,...219 W. 9th Street is an eight-unit apartment community located near Downtown Long Beach, operating at a 6.18% cap rate and 11.42 GRM . The property is comprised of three buildings on a 7,500 square foot lot. The property consists of five units constructed in 1983 and three original units built in 1929. 219 W. 9th Street has a varied unit mix of: two Junior 1BD/1BA, three 1BD/1BA, one 2BD/2BA, and two 3BD/1BA. Six of these units have been upgraded with high-end finishes, including in-unit washer/dryers, new cabinets, countertops, and dishwashers. The property completed several capital upgrades, including a new roof on the front building, partially updated electrical and plumbing systems, and new windows were installed in the renovated units. The asset boasts a total of 13 parking spaces, seven (7) garages and six (6) surface spaces. The garages may potentially be converted to ADUs for additional income.
  1. Listed by Douglas Steinriede • DRE #00284936 • Brokerage DRE #00284936 • Dover Management Corp.

Property Details for 219 West 9th Street

Zoning
LBCO
Parcel Number
7272012017
Total Units
8.0
Living Area
6365
Source Living Area
Vendor Enhanced
Area
Downtown Area, Alamitos Beach (4)
Vacancy Rate
3%
Lot Size Area
7500
LISTING UPDATED: 10/15/2024 10:38 AM

Property Details for 219 West 9th Street

StatusActive
MLS #24-444813
Days on Market115
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1929
Lot Size0.17 AC / 7,500 SF
CountyLos Angeles County

Building Information for 219 West 9th Street

Stories2Residences-Year Built1929Building Size-Lot Size0.17 AC / 7,500 SF

Property Information for 219 West 9th Street

Community / Development
Community / Development
  • Number Of Units: 8
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 2
  • Number Of Buildings: 3
  • Type Of Units: Apartment
Contract Info
Contract Info
  • Disclosures: Other
  • Listing Type: Exclusive Agency
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $203,898
  • Net Operating Income: $148,289.00
  • Gross Income: $210,204
  • Gross Rent Multiplier: $11.42
  • Other Income1: $300.00
  • Garage Income: $4,800
  • Laundry Income: $1,440
  • Total Annual Expense: 55609
Land / Lot Info
Land / Lot Info
  • Alternate Street Name: 901 Pacific Avenue
  • Lot Acreage: 0.1722
  • Lot Size Square Feet: 7500
  • Lot Description: Sidewalks, Fenced
Parking Details
Parking Details
  • Parking Garage: Parking Space, Gated
  • Total Parking: 13
  • Parking Features: Parking Space, Gated
Interior Features
Interior Features
  • Rooms: Studio
  • Levels: Two
  • Den: No
  • Family Room: 0
  • Dining Room: 0
  • Cooling Type: Other
  • Heating Type: Other
  • Equipment: Dryer, Washer
  • Laundry: In Unit
Exterior Features
Exterior Features
  • Entry Location: Ground Level - no steps
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 09-25-2024
Unit Details
Unit 1 Information
  • Unit Beds: 3
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,086.00
  • Unit Actual Rent: $4,172.00
  • Unit Projected Rent: $5,390.00
  • Like Units: 2
Unit 2 Information
  • Unit Beds: 2
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $2,500.00
  • Unit Actual Rent: $2,500.00
  • Unit Projected Rent: $2,495.00
  • Like Units: 1
Unit 3 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,187.00
  • Unit Actual Rent: $6,560.00
  • Unit Projected Rent: $6,750.00
  • Like Units: 3
Unit 4 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,083.00
  • Unit Actual Rent: $4,165.00
  • Unit Projected Rent: $4,300.00
  • Like Units: 2
Unit Details
  • Unit Type Type: 2106, 2107, 2108, 2109
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $656,986.00
  • Assessed Improvement Percent: 34.82
  • Assessed Land Value: $1,229,878.00
  • Assessed Land Percent: 65.18
  • Assessed Total Value: $1,886,864.00

Property History for 219 West 9th 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 219 West 9th Street

Taxable ValueLand$1,254,475Additions$673,125Total$1,927,600
Tax Record2024$25,565 ($2,130 / month)
Home Facts
Total Finished SqFt6,365 SqFtAbove Grade Finished SqFt6,365 SqFtLot Size7,500 SqFtStyleMulti-Family Res (5+ Units)Year Built1929ZoningLBCOCountyLOS ANGELESAPN7272-012-017

Schools near 219 West 9th 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
Public - 9 to 12
Rating
School
Distance
International Elementary School
PublicK to 5

Washington Middle School
Public6 to 8

Cabrillo High School
Public9 to 12

Renaissance High School For The Arts
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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219 West 9th Street is a multi-family home for sale in Long Beach, CA 90813. This property was listed for sale on September 1, 2024 by Dover Management Corp., it's currently listed at $2,400,000. It has been on the market for a total of 115 days and was last sold on May 19, 2020. This listing's school district is Long Beach Unified School District. Nearby schools include International Elementary School, Washington Middle School and Cabrillo High School. 219 West 9th Street is a 10-bed, 8-bath, 6,365 sqft multi-family home built in 1929.

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 Dover Management Corp., Douglas Steinriede, DRE #00284936

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.