1141 East 16th Street

1141 East 16th Street

Long Beach, CA 90813

$2,400,000
Price
17
Beds
10
Baths
6,835 Sq. Ft.
$351 / Sq. Ft.
6,835
Sq. Ft.
$351
per Sq. Ft.
a front view of a house with a garden
a view of a house with a yard
a view of entryway
a view of entryway
a garage with a car parked
a car parked in front of a building
a view of entryway
a view of entryway with a front door
a kitchen with a sink and a stove top oven
a work room with furniture and wooden floor
a room with a bed and furniture
a living room with a fireplace and furniture
a view of balcony with wooden floor and seating space
a view of outdoor space kitchen and deck

Description

Beautifully restored 9 unit building in the Poly High neighborhood of Long Beach- Central Long Beach. Pride of ownership property, same owner over 40 years. The property was just painted less than a year ago. Sandblasted, new stucco, paint, wood trim. Great mix of 17 bedrooms and 10 baths. The Landlord currently uses the front (one bedroom) unit as his office, where he spent approx $15,000 in capital expenditures- gutting the unit and placing new floors, cabinets, counters, bathroom fixtures, shower...Beautifully restored 9 unit building in the Poly High neighborhood of Long Beach- Central Long Beach. Pride of ownership property, same owner over 40 years. The property was just painted less than a year ago. Sandblasted, new stucco, paint, wood trim. Great mix of 17 bedrooms and 10 baths. The Landlord currently uses the front (one bedroom) unit as his office, where he spent approx $15,000 in capital expenditures- gutting the unit and placing new floors, cabinets, counters, bathroom fixtures, shower stall, plumbing. It will be available at close (or prior if needed) and can easily be rented for $1800-$2000. A few other units have had nice capital expenditures as well in last 24 months. You have a total of 6 newer garage doors, plus 6 parking spaces. Perfect for long term investor looking for a property that cashflows nicely. Current gross market rent is apprx. $220,800. Rent increases have been issued, and rent on March 15, 2024, increases by max 8.8% (California Rent Control), to $238,000, plus small laundry income. 7.8% Cap Rate based on PRESENT rent. Property sold AS-IS. Please send Proof of Down Payment, Letter of Interest (if applicable) from commercial bank, with offers.
  1. Listed by Robert Castro • DRE #01243994 • Brokerage DRE #01243994 • Southern Cal Realty • 714-984-3426

Property Details for 1141 East 16th Street

Architectural Style
Traditional
View
None
Parking Spaces Total
12
Private Pool
No
Cooling Type
N/K
Total Units
9.0
Building Type
Attached
Lot Size Source
Assessor

Location

Listing Courtesy of Southern Cal Realty, Robert Castro, DRE #01243994
Add your commute
LISTING UPDATED: 03/10/2024 03:28 AM

Property Details for 1141 East 16th Street

StatusActive
MLS #DW24022648
Days on Market87
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1963
CountyLos Angeles County

Location

Listing Courtesy of Southern Cal Realty, Robert Castro, DRE #01243994
Add your commute

Building Information for 1141 East 16th Street

Building/Complex1141 E 16th StFloor-Stories2Residences-Pet Policy-Year Built1963Building Size-

Payment Calculator

$13,629 per month

30 year fixed, 7.25% Interest

Principal and Interest

$13,098

Property Taxes

$531

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 1141 East 16th Street

Rental Info
Rental Info
  • Tenant Pays: Electricity, Parking Fee, Telephone
Income / Expense / Tax Details
Income Details
  • Gross Income: $187,711
  • Gross Scheduled Income: $220,800
  • Net Operating Income: $187,511
  • Number Of Rented Garages: 4
  • Laundry Income: $1,500
  • Current Financing: Other
Expense Details
  • Operating Expense: $34,589
  • Gardener Expense: $720
  • Electric Expense: $1,680
  • Insurance Expense: $4,800
  • Professional Management Expense: $14,000
  • Trash Expense: $540
  • Water Sewer Expense: $3,972
  • Total Expenses: $25,712
Tax / Assessment Info
  • Tax Tract Number: 9
  • Tax Census Tract: 5752.01
  • CFD/Mello-Roos Fee: $1,677
  • Tax Lot: 9
Community / Development
Community / Development
  • Accessibility Features: 2+ Access Exits, Parking
  • Disability Access: 2+ Access Exits, Other Main Level Modifications
  • Assessments YN: No
  • Assessments: None
  • Community Features: Biking, Curbs, Park, Sidewalks
Property / Structure Info
Interior Features
  • Appliances: Gas & Electric Range
  • Equipment: Laundry Area
  • Interior Features: Ceiling Fan(s), Granite Counters
  • Laundry: Yes
  • Laundry Features: Common Area
  • Laundry Equipment Own Lease: Lease
  • Fireplace Features: None
  • Fireplace Rooms: None
  • Cooling: None
  • Heating Type: Forced Air
  • Heating: Forced Air
  • Heat Equipment: Forced Air Unit
  • Flooring: Laminate, Tile
Exterior Features
  • Security Features: Carbon Monoxide Detector(s), Security Lights, Smoke Detector(s), Window Bars
  • Security: Security Bars
  • Construction Materials: Drywall Walls, Frame, Plaster, Stucco
  • Exterior Construction: Frame, Plaster, Stucco
  • Exterior: Stucco
  • Exterior Features: Rain Gutters
  • Entry Location: Front and Stairwell
  • Fence: Yes
  • Fence: Chain Link, Wood, Wrought Iron
  • Fencing: Average Condition, Chain Link, Wood, Wrought Iron
  • Foundation Details: Slab
  • Property Condition: Turnkey, Updated/Remodeled
  • View Description: None
  • Pool Features: None
  • Pool Description: None
  • Pool: N/K
  • Spa Features: None
Land/Lot Info
  • Lot Features: Front Yard, Garden, Landscaped, Rectangular Lot
  • Number Of Units: 9
  • Land Lease: No
  • Land Lease Type: Fee
  • Levels: Two
  • Water: Public
  • Sewer: Public Sewer
  • Utilities: Cable Connected, Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
  • Electric: Standard
  • Water Source: Public
Parking Info
  • Garage Spaces: 6
  • Parking: Yes
  • Parking Garage: Assigned, Direct Entrance, Driveway, Driveway - Combination, Garage - 1 Car, Parking Space, Public
  • Parking Garage Spaces: 6
  • Carport Spaces: 6
  • Parking Features: Assigned, Direct Garage Access, Driveway, Driveway - Combination, Concrete, Garage Faces Front, Garage Faces Rear, Garage - Single Door, Parking Space, Public
Property / Structure Info
  • Builders Tract Name: Poly High
  • Builders Tract Code: Poly High (PH)
Unit Information
Unit 1
  • 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: $0
  • Unit Type Total Rent: $0
  • Unit Type Pro Forma: 1800
  • 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: 0
  • Unit Type Actual Rent: $1,672
  • Unit Type Total Rent: $1,672
  • Unit Type Pro Forma: 1800
  • Unit Type Type: 2
Unit 3
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: Yes
  • Unit Type Actual Rent: $2,086
  • Unit Type Total Rent: $2,086
  • Unit Type Pro Forma: 2300
  • Unit Type Type: 3
Unit 4
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: Yes
  • Unit Type Actual Rent: $1,618
  • Unit Type Total Rent: $1,618
  • Unit Type Pro Forma: 2300
  • Unit Type Type: 4
Unit 5
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 3
  • Unit Type Baths Total: 2
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: Yes
  • Unit Type Actual Rent: $2,600
  • Unit Type Total Rent: $2,600
  • Unit Type Pro Forma: 2850
  • Unit Type Type: 5
Unit 6
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: Yes
  • Unit Type Actual Rent: $2,040
  • Unit Type Total Rent: $2,040
  • Unit Type Pro Forma: 2300
  • Unit Type Type: 6
Unit 7
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $2,073
  • Unit Type Total Rent: $2,073
  • Unit Type Pro Forma: 2300
  • Unit Type Type: 7
Unit 8
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: Yes
  • Unit Type Actual Rent: $2,300
  • Unit Type Total Rent: $2,300
  • Unit Type Pro Forma: 2300
  • Unit Type Type: 8
Unit 9
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $2,212
  • Unit Type Total Rent: $2,212
  • Unit Type Pro Forma: 2300
  • Unit Type Type: 9
Unit Information
  • Number Of Units Leased: 9
  • Rent Controlled: Yes
  • Number Of Buildings: 1
  • Number Of Separate Electric Meters: 9
  • Number Of Separate Gas Meters: 9
  • Number Of Separate Water Meters: 1

Property History for 1141 East 16th 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 1141 East 16th Street

Taxable ValueLand$45,433Additions$327,184Total$372,617
Tax Record2023$6,369 ($531 / month)
Home Facts
Total Finished SqFt6,835 SqFtAbove Grade Finished SqFt6,835 SqFtLot Size6,494 SqFtStyleMulti-Family Res (5+ Units)Year Built1963ZoningLBR34CountyLOS ANGELESAPN7268-023-009

Schools near 1141 East 16th Street

This home is within Long Beach Unified School District.
Rating
School
Type
Grades
Distance
Whittier Elementary School
Public - K to 5
Franklin Classical Middle School
Public - 6 to 8
Polytechnic High School
Public - 9 to 12
Clear Passage Educational Center
Charter - 9 to 12
Rating
School
Distance
Whittier 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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More information about 1141 East 16th Street, Long Beach, CA 90813

1141 East 16th Street is a multi-family home for sale in Long Beach, CA 90813. This property was listed for sale on January 31, 2024 by Southern Cal Realty, it's currently listed at $2,400,000. This listing's school district is Long Beach Unified School District. Nearby schools include Whittier Elementary School, Franklin Classical Middle School and Polytechnic High School. 1141 East 16th Street is a 17-bed, 10-bath, 6,835 sqft multi-family home built in 1963.

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 Southern Cal Realty, Robert Castro, DRE #01243994

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.