1761 Park Avenue

Long Beach, CA 90815

$7,800,000
Price
38
Beds
24
Baths
15,918 Sq. Ft.
$490 / Sq. Ft.
15,918
Sq. Ft.
$490
per Sq. Ft.

Description

Park Villa is a meticulously renovated 18-unit investment property located at 1761 Park Avenue in the Traffic Circle submarket of Long Beach. The asset is fully stabilized, achieving robust rents for all units. The sizable building offers an attractive unit mix of four 3BD / 2BA units, two 2BD / 2BA units, ten 2BD/1BA units and two 1BD/1BA units surrounding a landscaped courtyard. The property also offers onsite laundry, ample parking with eight garages and twelve tandem surface spaces. Capital expenditures...

Property Details for 1761 Park Avenue

Parking Spaces Total
20
Private Pool
No

Location

Listing Courtesy of Keller Williams - Santa Monica, Robert Stepp, DRE #01456379

Property Details for 1761 Park Avenue

StatusActive
MLS #PW21002861
Days on Market52
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1963
Lot Size0.37 AC / 16,234 SF
CountyLos Angeles County

Listing Agent

Robert Stepp

Robert Stepp

Keller Williams - Santa Monica

rstepp@steppcommercial.com

P: 310.774.3740

M: 310.463.2916

DRE #01456379

Contact Agent(s)

Building Information for 1761 Park Avenue

Stories-Residences-Year Built1963Building Size-Lot Size0.37 AC / 16,234 SF

Payment Calculator

$26,140 per month

30 year fixed, 2.95% Interest

Principal and Interest

$26,140

Property Taxes

HOA Dues

$0

Property Information for 1761 Park Avenue

Property Features
    Interior Features
  • Common Walls: 2+ Common Walls
  • Laundry: Yes
  • Laundry Features: Common Area
  • Number of 3 Quarter Bathrooms: 0.0
  • Baths One Quarter: 0.0
  • Total Units: 18.0
    Exterior Features
  • Pool Features: None
    Parking Info
  • Carport Spaces: 0
  • Garage Spaces: 8
  • Parking: Yes
  • Parking Features: Garage, Tandem Uncovered
  • Uncovered Spaces: 12
    Water Details
  • Water Source: Public
Property / Structure Info
    Property / Structure Info
  • New Construction: No
  • Property Attached YN: true
  • Parcel Number: 7220002040
  • Property Type: Residential Income
  • Year Built: 1963
  • Year Built Source: Assessor
    Measurements / Dimensions
  • Building Area Total: 15918
  • Building Area Units: Square Feet
  • Living Area: 15918
Community/Development / Location Info
    School/Location Info
  • Zip Code: 90815
  • Street Number Numeric: 1761.0
  • Street Name: Park
  • Street Suffix: Avenue
  • Country: US
  • County Or Parish: Los Angeles
  • Directions: E Atherton St & Clark Ave
  • MLS Area Major: Eastside, Circle Area (3)
    Association Information
  • Community Features: Urban
  • Subdivision Name: Circle (CA)
  • Subdivision Name Other: Circle (CA)
  • Senior Community: No
Income / Expense / Tax / Assessment Details
    Tax / Assessment Info
  • Tax Census Tract: 5749.02
  • Tax Lot: 3
  • Tax Tract Number: 15865
  • Zoning: LBR4R
    Income Details
  • Gross Income: $511,832
  • Gross Scheduled Income: $538,770
  • Net Operating Income: $346,925
    Expense Details
  • Electric Expense: $3,375
  • Fuel Expense: $3,375
  • Insurance Expense: $7,959
  • Licenses Expense: $1,400
  • Maintenance Expense: $9,900
  • New Taxes Expense: $96,874
  • Operating Expense: $164,906
  • Other Expense: $3,600
  • Other Expense Description: Reserves
  • Pest Control Expense: $1,000
  • Professional Management Expense: $29,473
  • Total Expenses: $164,906
  • Trash Expense: $3,375
  • Water Sewer Expense: $3,375
  • Gardener Expense: $1,200
Unit Information
    Unit 1
  • Unit Type Actual Rent: $2,920
  • Unit Type Garage Spaces: 0
  • Unit Type Beds Total: 3
  • Unit Type Baths Total: 2
  • Unit Type Furnished: Unfurnished
  • Unit Type Pro Forma: 3095
  • Unit Type Units Total: 4
  • Unit Type Total Rent: $11,680
  • Unit Type Type: 1
    Unit 2
  • Unit Type Actual Rent: $2,395
  • Unit Type Garage Spaces: 0
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 2
  • Unit Type Furnished: Unfurnished
  • Unit Type Pro Forma: 2395
  • Unit Type Units Total: 2
  • Unit Type Total Rent: $4,790
  • Unit Type Type: 2
    Unit 3
  • Unit Type Actual Rent: $2,295
  • Unit Type Garage Spaces: 0
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Pro Forma: 2305
  • Unit Type Units Total: 10
  • Unit Type Total Rent: $22,950
  • Unit Type Type: 3
    Unit 4
  • Unit Type Actual Rent: $2,188
  • Unit Type Garage Spaces: 0
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Pro Forma: 2188
  • Unit Type Units Total: 2
  • Unit Type Total Rent: $4,376
  • Unit Type Type: 4
    Multi-Unit Info
  • Number Of Buildings: 1
  • Number Of Separate Electric Meters: 18
  • Number Of Separate Gas Meters: 18
  • Number Of Separate Water Meters: 1
  • Average Studio Area Units: Square Feet
  • Average 1 Bed Area Units: Square Feet
  • Average 2 Bed Area Units: Square Feet
  • Average 3 Bed Area Units: Square Feet
Rental Info
    Rental Info
  • Rent Controlled: Yes
Land/Lot Info
    Land/Lot Info
  • Land Lease: No
  • Lot Features: 16-20 Units/Acre
  • Lot Size Acres: .37
  • Lot Size Source: Assessor
  • Lot Size Square Feet: 16234
  • Lot Size Units: Square Feet
  • Sewer: Public Sewer

Property History for 1761 Park Ave

DateEvent & SourcePriceAppreciation
Feb 23, 2021

Price Change

SDMLS #PW21002861

$7,800,000
Feb 23, 2021

Price Change

CLAW #PW21002861MR

$7,800,000
Feb 23, 2021

Price Change

CRMLS #PW21002861

$7,800,000
DateEvent & SourcePrice
02/23/2021

Price Change

SDMLS #PW21002861

$7,800,000
02/23/2021

Price Change

CLAW #PW21002861MR

$7,800,000
02/23/2021

Price Change

CRMLS #PW21002861

$7,800,000

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Schools near 1761 Park Avenue


SchoolTypeGradesDistanceRating
Select Community Day (Secondary) SchoolPublic7-120.5 mi
NR
Zinsmeyer AcademyPrivateK-120.5 mi
NR
Bixby Elementary SchoolPublicK-50.6 mi
8
Our Lady Of RefugePrivateK-80.6 mi
NR

Select Community Day (Secondary) School

7-12, 0.5 mi, Public

NR

Zinsmeyer Academy

K-12, 0.5 mi, Private

NR

Bixby Elementary School

K-5, 0.6 mi, Public

8

Our Lady Of Refuge

K-8, 0.6 mi, Private

NR

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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1761 Park Avenue is a multi-family home for sale in Long Beach, CA 90815. This property was listed for sale on January 6, 2021 by Keller Williams - Santa Monica at $7,800,000. This listing's school district is Long Beach Unified School District. Nearby schools include Richard D. Browning High, Reid High School and Ernest S. McBride Sr. High School. 1761 Park Avenue is a 38-bed, 24-bath, 15,918 sqft multi-family home built in 1963. This address can also be written as 1761 Park Ave.

All data, including all measurements and calculations of area, is obtained from various sources, is approximate, and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of such measurements and Compass expressly disclaims any liability in connection with such measurements.

Listing Courtesy of Keller Williams - Santa Monica, Robert Stepp, DRE #01456379

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, 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, 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.