851 Martin Luther King Jr Avenue

Long Beach, CA 90813

$1,595,000
Price
12
Beds
10
Baths
4,600 Sq. Ft.
$347 / Sq. Ft.
4,600
Sq. Ft.
$347
per Sq. Ft.

Description

Guaranteed rental cash-flow. Building #1 has 2 units, 4bd 2.5 ba each, constructed in 1980. Building #2, has 2 units, 2 bd 2 ba each, constructed 2022. Drive by ONLY. Under NO circumstance you should disturb tenants. Do not go on property. Each unit has separate utilities, additionally each unit has their own laundry area. 2 of the tenants are HUD Section 8 and the other 2 regular. Well maintained. The property has 2 addresses, 845 MLK, built in 2022 and 851 MLK, built in 1980.Guaranteed rental cash-flow. Building #1 has 2 units, 4bd 2.5 ba each, constructed in 1980. Building #2, has 2 units, 2 bd 2 ba each, constructed 2022. Drive by ONLY. Under NO circumstance you should disturb tenants. Do not go on property. Each unit has separate utilities, additionally each unit has their own laundry area. 2 of the tenants are HUD Section 8 and the other 2 regular. Well maintained. The property has 2 addresses, 845 MLK, built in 2022 and 851 MLK, built in 1980.
  1. Listed by Ben Shirvanian • DRE #01190395 • Brokerage DRE #01190395 • Shirvan Group Inc

Property Details for 851 Martin Luther King Jr Avenue

Parcel Number
UNAVAILABLE
Total Units
4.0
Living Area
4600
Source Living Area
Other
Area
Downtown Area, Alamitos Beach (4)
Vacancy Rate
0
Lot Size Area
5600
Source Lot Size Area
Other
LISTING UPDATED: 11/12/2024 12:01 PM

Property Details for 851 Martin Luther King Jr Avenue

StatusActive
MLS #24-457289
Days on Market21
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built-
Lot Size0.13 AC / 5,600 SF
CountyLos Angeles County

Building Information for 851 Martin Luther King Jr Avenue

Stories2Residences-Year Built-Building Size-Lot Size0.13 AC / 5,600 SF

Property Information for 851 Martin Luther King Jr Avenue

Community / Development
Community / Development
  • Number Of Units: 4
  • Senior Community: No
Structure Info
Structure Info
  • Number Of Stories: 2
  • Number Of Buildings: 2
  • Type Of Units: Townhouse
Contract Info
Contract Info
  • Probate: No
  • Disclosures: Other
  • Listing Type: Exclusive Agency
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $136,668
  • Net Operating Income: $115,116.00
  • Gross Income: $136,668
  • Cap Rate: 7.20%
  • Gross Rent Multiplier: $12.00
  • Total Annual Expense: 21552
Land / Lot Info
Land / Lot Info
  • Additional Parcel Number: Yes
  • Lot Size Square Feet: 5600
Parking Details
Parking Details
  • Parking Garage: Driveway - Concrete
  • Total Parking: 6
  • Parking Features: Concrete
Interior Features
Interior Features
  • Levels: Two
  • Cooling Type: Air Conditioning
  • Heating: Central
  • Heating Type: Central
  • Equipment: Microwave, Hood Fan, Garbage Disposal, Range/Oven
Exterior Features
Exterior Features
  • Tennis: No
  • Tennis Court: None
  • Roof: Composition
  • New Construction: No
  • Construction Materials: Frame, Stucco
  • Exterior Construction: Frame, Stucco
  • Other Structures: Other
Lease Terms
Lease Terms
  • Entry Date: 10-28-2024
Unit Details
Unit 1 Information
  • Unit Beds: 4
  • Unit Baths: 3
  • Unit Furnished: No
  • Unit Rent: $3,032.00
  • Unit Actual Rent: $3,032.00
  • Unit Projected Rent: $3,500.00
  • Like Units: 1
Unit 2 Information
  • Unit Beds: 4
  • Unit Baths: 3
  • Unit Furnished: No
  • Unit Rent: $3,032.00
  • Unit Actual Rent: $3,032.00
  • Unit Projected Rent: $3,500.00
  • Like Units: 1
Unit 3 Information
  • Unit Beds: 2
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $2,625.00
  • Unit Actual Rent: $2,625.00
  • Unit Projected Rent: $2,750.00
  • Like Units: 1
Unit 4 Information
  • Unit Beds: 2
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $2,700.00
  • Unit Actual Rent: $2,700.00
  • Unit Projected Rent: $2,750.00
  • Like Units: 1
Unit Details
  • Unit Type Type: 2106, 2107, 2108, 2109

Property History for 851 Martin Luther King Jr 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 851 Martin Luther King Jr Avenue

Taxable ValueLand$168,997Additions$147,873Total$316,870
Tax Record2017$4,242 ($354 / month)
Home Facts
Beds8Above Grade Finished SqFt2,610 SqFtLot Size2,799 SqFtStyleDuplexYear Built1980Year Renovated1980ZoningLBR4RCountyLos AngelesAPN7274021037

Schools near 851 Martin Luther King Jr 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
Charter - 9 to 12
Rating
School
Distance
Stevenson Elementary School
PublicK to 5

Franklin Classical Middle School
Public6 to 8

Polytechnic High School
Public9 to 12

Clear Passage Educational Center
Charter9 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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851 Martin Luther King Jr Avenue is a multi-family home for sale in Long Beach, CA 90813. This property was listed for sale on October 28, 2024 by Shirvan Group Inc, it's currently listed at $1,595,000. It has been on the market for a total of 21 days and was last sold on August 8, 2006. This listing's school district is Long Beach Unified School District. Nearby schools include Stevenson Elementary School, Franklin Classical Middle School and Polytechnic High School. 851 Martin Luther King Jr Avenue is a 12-bed, 10-bath, 4,600 sqft multi-family home.

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 Shirvan Group Inc, Ben Shirvanian, DRE #01190395

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.