1056 Walnut Avenue

Long Beach, CA 90813

$2,500,000
Last Sold Price
19
Beds
9
Baths
6,892 Sq. Ft.
$363 / Sq. Ft.
6,892
Sq. Ft.
$363
per Sq. Ft.

Description

New Financials! Building is now operating at a 4.56% Cap Rate with Upside! | Capital Improvements & Renovated Units - The building features new paint, new windows and three units have been slightly renovated. | Capital Improvements & Renovated Units - The building features new paint, new windows and three units have been slightly renovated | Attractive New Debt Available - Historically low interest rates allow strong returns day 1. | Attractive New Debt Available - Historically low interest rates...New Financials! Building is now operating at a 4.56% Cap Rate with Upside! | Capital Improvements & Renovated Units - The building features new paint, new windows and three units have been slightly renovated. | Capital Improvements & Renovated Units - The building features new paint, new windows and three units have been slightly renovated | Attractive New Debt Available - Historically low interest rates allow strong returns day 1. | Attractive New Debt Available - Historically low interest rates allow strong returns day 1 | Desirable Unit Mix - The buildings units comprise of (1) 1 bed / 1 bath, (6) 2 beds / 1 bath and (2) 3 bed / 1 bath. | Desirable Unit Mix - The buildings units comprise of (1) 1 bed / 1 bath, (6) 2 beds / 1 bath and (2) 3 bed / 1 bath | Gentrifying Long Beach Location | Located East of Alamitos Ave and South of Anaheim St, the asset lies about 1.5 miles from Alamitos Beach and about 2.5 miles from Belmont Shore.
  1. Listed by John Katnik • DRE #02002695 • Brokerage DRE #01869890 • James Capital Advisors, Inc.

Property Details for 1056 Walnut Avenue

Zoning
LBR2N
Accessibility Features
None
Parcel Number
7267011001
Total Units
9.0
Living Area
6892
Source Living Area
Assessor
Area
Downtown Area, Alamitos Beach (4)
Vacancy Rate
0

Location

Listing Courtesy of James Capital Advisors, Inc., John Katnik, DRE #02002695

Sold By Buckingham Investments, Joseph Finkelstein, DRE #02119882

Add your commute
LISTING UPDATED: 09/30/2021 12:44 PM

Property Details for 1056 Walnut Avenue

StatusSold
MLS #21-716000
Days on Market83
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1962
Lot Size0.14 AC / 6,085 SF
CountyLos Angeles County

Location

Listing Courtesy of James Capital Advisors, Inc., John Katnik, DRE #02002695

Sold By Buckingham Investments, Joseph Finkelstein, DRE #02119882

Add your commute

Building Information for 1056 Walnut Avenue

Stories2Residences-Year Built1962Building Size-Lot Size0.14 AC / 6,085 SF

Payment Calculator

$16,432 per month

30 year fixed, 7.25% Interest

Principal and Interest

$13,644

Property Taxes

$2,788

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 1056 Walnut Avenue

Community / Development
Community / Development
  • Tax Mello Roos: No
  • Number Of Units: 9
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Assessor
  • Number Of Stories: 2
  • Number Of Buildings: 1
  • Type Of Units: Mix
Contract Info
Contract Info
  • Probate: No
  • Financing: Conventional
  • Disclosures: None
  • Listing Type: Exclusive Agency
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $174,420
  • Net Operating Income: $116,217.00
  • Gross Income: $179,770
  • Cap Rate: 4.56%
  • Gross Rent Multiplier: $14.30
  • Actual Annual Gross Rent: $178,320.00
  • Garage Income: $900
  • Laundry Income: $550
  • Vacancy Allow Dollar: $5,350.00
  • Vacancy Allow Percent: 3.00%
  • Owner Pays: Water, Gardener
  • Total Annual Expense: 58203
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.1398
  • Lot Size Square Feet: 6085
Parking Details
Parking Details
  • Parking Garage: Garage - 4+ Car
  • Total Parking: 6
  • Open Other Spaces Total: 1
  • Garage Spaces Total: 5
Interior Features
Interior Features
  • Cooling: None
  • Cooling Type: None
  • Heating Type: Other
  • Equipment: Other
  • Laundry: Community
  • Laundry Equipment: Own
  • Disability Access: None
Exterior Features
Exterior Features
  • Pool: No
  • Private Pool: No
  • Pool Description: None
  • Pool Features: None
  • Spa: No
  • Spa: None
  • Entry Location: Ground Level w/steps
  • Construction Materials: Stucco
  • Exterior Construction: Stucco
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 04-09-2021
  • Tenant Pays: Gas, Electricity
Unit Details
Unit 1 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,275.00
  • Unit Actual Rent: $1,275.00
  • Unit Projected Rent: $1,450.00
  • Like Units: 1
Unit 2 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,475.00
  • Unit Actual Rent: $1,475.00
  • Unit Projected Rent: $1,900.00
  • Like Units: 1
Unit 3 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,475.00
  • Unit Actual Rent: $1,475.00
  • Unit Projected Rent: $1,900.00
  • Like Units: 1
Unit 4 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,550.00
  • Unit Actual Rent: $1,550.00
  • Unit Projected Rent: $1,900.00
  • Like Units: 1
Unit 5 Information
  • Unit Beds: 3
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,895.00
  • Unit Actual Rent: $1,895.00
  • Unit Projected Rent: $2,200.00
  • Like Units: 1
Unit 6 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,695.00
  • Unit Actual Rent: $1,695.00
  • Unit Projected Rent: $1,900.00
  • Like Units: 1
Unit 7 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,495.00
  • Unit Actual Rent: $1,495.00
  • Unit Projected Rent: $1,900.00
  • Like Units: 1
Unit 8 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,695.00
  • Unit Actual Rent: $1,695.00
  • Unit Projected Rent: $1,900.00
  • Like Units: 1
Unit 9 Information
  • Unit Beds: 3
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,795.00
  • Unit Actual Rent: $1,795.00
  • Unit Projected Rent: $2,200.00
  • Like Units: 1
Unit Details
  • Unit Type Type: 2106, 2107, 2108, 2109, 2110, 2111, 2112, 2113, 2114
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Percent: 33.33
  • Assessed Land Percent: 66.67

Property History for 1056 Walnut 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 1056 Walnut Avenue

Taxable ValueLand$1,657,500Additions$892,980Total$2,550,480
Tax Record2023$33,461 ($2,788 / month)
Home Facts
Total Finished SqFt6,892 SqFtAbove Grade Finished SqFt6,892 SqFtLot Size6,088 SqFtStyleMulti-Family Res (5+ Units)Year Built1962ZoningLBR2NCountyLOS ANGELESAPN7267-011-001

Schools near 1056 Walnut 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
Lincoln 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.

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 James Capital Advisors, Inc., John Katnik, DRE #02002695

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.