1040 Obispo Avenue

Long Beach, CA 90804

$1,040,000
Last Sold Price
5
Beds
5
Baths
2,672 Sq. Ft.
$389 / Sq. Ft.
2,672
Sq. Ft.
$389
per Sq. Ft.

Description

All Tenants are currently paying! Great opportunity to own an updated and cash flowing 4-unit at 1040 Obispo Ave. in the highly desired Eastside Long Beach. This is a great owner/user opportunity to live in the front house and let the back units pay off your mortgage! 1040 Obispo Ave. is comprised of (1) 3-bedroom/2-bath House, (2) 1-bedroom/1-bath units, as well as (1) Studio. There are (4) garages, as well as (2) additional spaces in the front, offering (6) total spaces, a very rare commodity to...All Tenants are currently paying! Great opportunity to own an updated and cash flowing 4-unit at 1040 Obispo Ave. in the highly desired Eastside Long Beach. This is a great owner/user opportunity to live in the front house and let the back units pay off your mortgage! 1040 Obispo Ave. is comprised of (1) 3-bedroom/2-bath House, (2) 1-bedroom/1-bath units, as well as (1) Studio. There are (4) garages, as well as (2) additional spaces in the front, offering (6) total spaces, a very rare commodity to have in Long Beach. Both upstairs units at the rear of the property have been updated and are in good condition, and the current owner has also inputted a brand new electrical system throughout the property. On current rents, the asset is operating at a 4.80% Cap Rate and 14.01 GRM, with still plenty of room to grow. The Obispo property has great location in Eastside Long Beach and just North of Rose Park, including being only minutes from the 710 Freeway and $6Billion in development flooding into Downtown Long Beach. This is a perfect opportunity for any buyer or owner/user looking for a value-add Statewide property in the rapidly growing city of Long Beach.
  1. Listed by Cameron Samimi • DRE #02035763 • Brokerage DRE #01972083 • Lyon Stahl Investment Real Estate, Inc.

Property Details for 1040 Obispo Avenue

Parking Spaces Total
4
Private Pool
No
Total Units
4.0
Building Type
Detached
Lot Size Source
Assessor
Living Area
2672
Assessor Parcel Number
7258-005-007
Property Attached YN
false

Location

Listing Courtesy of Lyon Stahl Investment Real Estate, Inc., Cameron Samimi, DRE #02035763

Sold By Seawind Real Estate, Kenneth Douthit, DRE #00598786

Add your commute
LISTING UPDATED: 01/13/2021 01:39 AM

Property Details for 1040 Obispo Avenue

StatusClosed
MLS #SB20157117
Days on Market131
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1921
Lot Size0.15 AC / 6,501 SF
CountyLos Angeles County

Location

Listing Courtesy of Lyon Stahl Investment Real Estate, Inc., Cameron Samimi, DRE #02035763

Sold By Seawind Real Estate, Kenneth Douthit, DRE #00598786

Add your commute

Building Information for 1040 Obispo Avenue

Stories-Residences-Year Built1921Building Size-Lot Size0.15 AC / 6,501 SF

Payment Calculator

$6,870 per month

30 year fixed, 7.25% Interest

Principal and Interest

$5,676

Property Taxes

$1,194

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 1040 Obispo Avenue

Income / Expense / Tax Details
Income Details
  • Gross Income: $78,540
  • Gross Scheduled Income: $78,540
  • Net Operating Income: $52,812
  • Garage Income: $150
  • Gross Multiplier: 14.01
  • Cap Rate: 4.8
  • Financing: Conventional
Expense Details
  • Operating Expense: $23,372
  • New Taxes Expense: $0
  • Fuel Expense: $0
  • Electric Expense: $0
  • Insurance Expense: $0
  • Professional Management Expense: $0
  • Trash Expense: $0
  • Water Sewer Expense: $0
  • Total Expenses: $23,372
Tax / Assessment Info
  • Tax Tract Number: 5769
  • Tax Census Tract: 5769.03
  • Tax Lot: 7
Community / Development
Community / Development
  • Community Features: Gutters, Sidewalks, Street Lights
Property / Structure Info
Interior Features
  • Laundry: Yes
  • Laundry Features: Individual Room
Exterior Features
  • Pool Features: None
  • Pool Description: None
  • Pool: N/K
Land/Lot Info
  • Lot Features: 0-1 Unit/Acre
  • Number Of Units: 4
  • Land Lease: No
  • Land Lease Type: Fee
  • Sewer: Public Sewer
  • Water Source: Public
Parking Info
  • Garage Spaces: 4
  • Parking Garage Spaces: 4
  • Carport Spaces: 0
Property / Structure Info
  • Builders Tract Name: Eastside
  • Builders Tract Code: Eastside (ES)
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: 0
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $2,400
  • Unit Type Total Rent: $2,400
  • Unit Type Pro Forma: 2900
  • 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: Yes
  • Unit Type Actual Rent: $1,350
  • Unit Type Total Rent: $1,350
  • Unit Type Pro Forma: 1700
  • 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: 1
  • Unit Type Garage Attached: Yes
  • Unit Type Actual Rent: $1,350
  • Unit Type Total Rent: $1,350
  • Unit Type Pro Forma: 1700
  • Unit Type Type: 3
Unit 4
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 0
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: Yes
  • Unit Type Actual Rent: $670
  • Unit Type Total Rent: $670
  • Unit Type Pro Forma: 1700
  • Unit Type Type: 4
Unit Information
  • Rent Controlled: No
  • Number Of Buildings: 2
  • Number Of Separate Electric Meters: 5
  • Number Of Separate Gas Meters: 4
  • Number Of Separate Water Meters: 1

Property History for 1040 Obispo 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 1040 Obispo Avenue

Taxable ValueLand$416,160Additions$667,056Total$1,083,216
Tax Record2023$14,334 ($1,194 / month)
Home Facts
Total Finished SqFt2,672 SqFtAbove Grade Finished SqFt2,672 SqFtLot Size6,501 SqFtStyleMulti-Family Res (5+ Units)Year Built1921ZoningLBR2NCountyLOS ANGELESAPN7258-005-007

Schools near 1040 Obispo 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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Similar Sold Homes

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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 expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Lyon Stahl Investment Real Estate, Inc., Cameron Samimi, DRE #02035763

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.